What impact, if any, will this announcement from COOL have on EGGS:
CDnow, Cyberian Outpost, eToys and Reel.com Announce <CDNW.O>
COOL.O><HLYW.O>
CDnow, Cyberian Outpost, eToys and Reel.com Announce Formation of Online
Shopping Network
New Network to Interconnect Consumers to Broad Assortment of Top Quality
Products and Services
NEW YORK, Oct. 14 /PRNewswire/ -- Four of the top online stores today
announced a new network that helps consumers find quality goods and services
from the Internet's most well-known and trusted brands. CDnow (Nasdaq: CDNW),
Cyberian Outpost (Nasdaq: COOL), eToys, and Reel.com are building the
groundbreaking network to connect the Internet's leading specialty retailers.
The mission of the network is to bring together retailers that demonstrate the
highest levels of customer service, security, and convenience. The network is
scheduled to launch in November -- just in time for the holiday season.
The formation of this network is a natural evolution in the burgeoning
e-commerce space. Each of the stores involved in the partnership will endorse
and broaden the reach of the other alliance members by providing consumers
easy access to the full network. Through the network, consumers can buy music
at CDnow, computers at Cyberian Outpost, childrens' toys at eToys, and movies
at Reel.com, along with a variety of other products. The network will
continue to add best of breed retailers in the coming months.
"Our mission is to build the best music store and we are excited about
this new innovation because it connects the best music store to the best toy
store, the best movie store and the best computer store," says Jason Olim, CEO
and president of CDnow. "And there will be more to come."
CDnow led the strategic direction and start-up of the network, which will
be governed by a steering committee, whose mission is to create an unmatched
online shopping experience. The committee is comprised of senior-level
executives from the founding companies and will act as the decision-making
body. The committee will focus on the mission, the business model, new
partnerships, and advertising, among other related issues.
"At Cyberian Outpost, we have built a trusted brand online and we are
pleased to connect our customers with other quality sites on the Internet,"
says Darryl Peck, Cyberian Outpost's Founder, President and CEO. "This
alliance of established e-commerce sites will make it easy for consumers to
make informed buying decisions."
The network members will each refer their customers to a hub page that
will feature special promotions on a variety of goods and services from the
participating retailers, and will interconnect the network's merchants.
Alliance partners will refer consumers to other partners through links on
order confirmation pages and promotions in customer newsletters. In addition
to better servicing the customer, the new e-commerce model supports the
group's specialty market strategies and may lower overall customer acquisition
costs.
"The network allows the premier online merchants to offer consumers the
most convenient shopping experience anywhere," says Toby Lenk, CEO of eToys.
"Now, consumers are just a click away from their toys, music, packaged goods,
movies and computers, with more convenience to come. It's the perfect
solution for busy consumers who don't have time to visit the malls."
"Selection and expertise are the driving force behind successful
e-retailers," says Julie Wainwright, CEO of Reel.com. "Reel.com offers the
most comprehensive selection of VHS and DVD titles for sale as well as
proprietary movie information to help customers choose movies they'll enjoy.
The network allows us to introduce our loyal customers to the most expansive
selection of products and expert advice from the Internet's top retailers."
About CDnow
CDnow, Inc. (cdnow.com) is the Internet's number one music store. CDnow
offers more than 300,000 music related items - ten times the size of the
average music store. Founded in 1994 by twin brothers Jason and Matthew Olim,
CDnow is building a better music store through intelligent album
recommendations, custom CDs, music samples, a vast library of reviews and
features from top music writers and exclusive editorial content from Rolling
Stone Network, MTV/VH1 and CMJ New Music Monthly. CDnow is the premier online
music store on Yahoo!, Lycos, Lycos-Bertelsmann, Webcrawler, Tripod,
Geocities, MTV/VH1, Rolling Stone Network, and CBS.com.
About Cyberian Outpost
A leader in global e-commerce since 1995, Cyberian Outpost (Nasdaq: COOL),
operates an Internet-only superstore for computer products from its Web site
at www.outpost.com, 24 hours a day, seven days a week. Cyberian Outpost
provides consumers and small office purchasers of computer products superior
selection, quick and easy search capabilities, and product information on over
140,000 hardware, software, and peripheral products. With a safe and secure
credit card payment system, fast and direct international shipping, Cyberian
Outpost offers exceptional value and service to its customers worldwide.
About eToys
Based in Santa Monica, Calif., eToys (www.etoys.com) is the only online
toy retailer to provide a comprehensive selection of nationally advertised and
specialty toy brands. eToys carries more than 5,000 items at prices that meet
or beat those of traditional, land-based toy retailers. The company was
founded by CEO Toby Lenk, formerly a corporate vice president in the strategic
planning area of The Walt Disney Company, and its site launched in October
1997.
About Reel.com, Inc.
Reel.com (www.reel.com) is the leading Web-based movie store offering
85,000 VHS titles for sale, over 1,600 DVD titles for sale, and 35,000 video
titles for rent. Reel.com also features proprietary editorial content to help
customers select movies. The staff of writers for the site include film
school graduates, video store veterans, screen writers, and scores of other
film experts. Reel.com's current Internet partners include Excite, @Home
Network, CelebSite, Chicago Sun Times, E! Online, Film.com, Mr. Showbiz,
Turner Home Entertainment, TV Guide Entertainment Network, and Yahoo!.
Reel.com is a subsidiary of Hollywood Entertainment, Corp. (NASDAQ: HLYW), dba
Hollywood Video, the second largest video store chain in the United States,
with over 1,100 stores in 42 states.
SOURCE CDnow
-0- 10/14/98
/CONTACT: Kerry Chernin, 212-888-6610 ext. 2559, or Mark Pasetsky,
212-888-6610 ext. 2511, or mark@middleberg.com, both of Middleberg +
Associates; or Marlo Zoda of CDnow, 215-517-7325 ext. 432, or mzoda@cdnow.com/
/Web site: outpost.com
/Web site: etoys.com
/Web site: reel.com
/Web site: cdnow.com
-- NYW074 --
1481 10/14/98 14:53 EDT prnewswire.com
Copyright PR Newswire 1998. All rights reserved.
10/14 17:43 Internet retailers form online-commerce network
NEW YORK, Oct. 14 (Reuters) - Four top online retailers said Wednesday they are setting up a network to help consumers find goods and
services on the Internet.
Scheduled for launch in November, the network is being established by CDnow Inc. <CDNW.O>, Cyberian Outpost Inc. <COOL.O>, eToys,
and Reel.com.
Under the alliance, each of the stores involved in the partnership will endorse other members, providing consumers easy access to their sites and
products.
Customers will be able to buy music at CDnow, computers at Cyberian Outpost, childrens' toys at eToys, and movies at Reel.com, along with a
variety of other products.
The network will continue to add retailers in the coming months.
News of the online network comes a week after several big-name Internet retailers said they were making plans to team up.
Two of the largest Internet music retailers, CDnow and N2K Inc. <NTKI.O> said Oct. 7 they were discussing a merger that would create the
largest on-line music store and a powerful rival to fast-growing Amazon.com Inc <AMZN.O>.
A day earlier, the world's biggest book publisher, Bertelsmann AG <BTGGg.F> agreed to buy half of barnesandnoble.com, the online division
of Barnes & Noble Inc. <BKS.N>. |
