Found it...ONSL with over 1 hour to go before open is already at 21 on the ask!
Here is the press release....
MENLO PARK, CALIF. (Sept. 14) BUSINESS WIRE -Sept. 14, 1998--ONSALE, Inc. (NASDAQ:ONSL), a leading Internet real-time retailer, today
announced an agreement with Yahoo! Inc. (NASDAQ:YHOO), a leading global Internet media company, to deliver person-to-person, Web-based auctions.
Unveiled today and using technology provided by ONSALE, Yahoo! Auctions (http://auctions.yahoo.com) is a free, online marketplace enabling Yahoo!
users to buy and sell virtually anything through auctions on the Web (See separate announcement.) Yahoo! Auctions replaces ONSALE Exchange, an
auction service previously available through ONSALE.
"Online auctions create an interactive marketplace where users can actively engage in bargaining for goods they have or want to obtain quickly and
conveniently," said Jerry Kaplan, ONSALE's chief executive officer. "We are pleased to be working with Yahoo! to deliver person-to-person auctions. This
relationship combines our respective strengths to build a dedicated auction arena and reach a broader audience of Web users."
"Yahoo! Auctions is part of our ongoing commitment to expand the range of shopping services available to our users. For bidders, it means finding that
particular item they've always wanted without ever leaving the comfort of their computer and for sellers it offers access to a global audience of buyers,"
said Jeff Mallett, chief operating officer, Yahoo! Inc. "By working with ONSALE, we can combine Yahoo!'s powerful distribution platform with ONSALE's
auction backend technology to provide convenient services for our community of users who want to browse, bid and buy merchandise on the Internet."
Yahoo! Auctions is open 24-hours-a-day, seven-days-a-week, and is free of listing fees, commissions and other charges. Yahoo! Auctions is a
co-branded offering and integrates the technology originally developed for ONSALE Exchange. About ONSALE
ONSALE (NASDAQ:ONSL) is a leading Internet real-time retailer pioneering an efficient and entertaining new distribution channel -- the interactive online
auction. The company specializes in selling value-oriented merchandise and services, including personal computers, consumer electronics, housewares,
sports and fitness equipment, vacation and travel packages, and specialty foods over the Internet. ONSALE is located on the World Wide Web at
www.onsale.com.
This press release contains forward looking statements regarding the company and its expectations which involve certain risks and uncertainties. Factors
that could cause the company's results to differ materially from management's projections, estimates and expectations include but are not limited to:
management of customer returns; uncertain sales of, and other risks associated with, new categories of merchandise; actual and potential competition;
dependence on the Internet; uncertain acceptance of the ONSALE brand and reliance on automated technology; problems related to the charge for
unreconciled merchandise adjustments taken in the first quarter of 1998 and the risk that similar problems might recur; problems related to managing the
company's expected growth, including management of inventory shrinkage resulting from theft, loss and misrecording of inventory-related transactions;
dependence on the company's relationship with other online companies to drive traffic to the company's site; continued reliance on merchandise vendors;
and inventory and price risks of purchasing merchandise in principal transactions. These risks and uncertainties are described in more detail in the
company's 1997 Annual Report on Form 10-K under "Risk Factors."
Note to Editors: ONSALE is a registered trademark of ONSALE, Inc. Yahoo! and the Yahoo! logo are registered trademarks of Yahoo! Inc. All other
names are trademarks and/or registered trademarks of their respective owners.
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