Co-designed on-line auction site for Canadian consumers launched
Bid.Com International Inc BII
Shares issued 21,023,000 Nov 16 close $1.94
Tue 17 Nov 98 News Release
Also Rogers Communications Inc (RCI.B)
Mr. Paul Godin reports
Bid.Com International and Rogers New Media today launched their co-designed
on-line auction site. By logging on to www.bid.com Canadians will
experience an authentic auction event, finding great bargains on new
products such as computers, sports equipment, gifts and vacation packages.
The World Wide Web has hundreds of auctions and the on-line auction market
is booming with the current value at $5.2-billion (U.S.). However,
Canadians are at a disadvantage because these are American sites and do not
accept Canadian currency and returns, or extend warranties beyond the U.S.
border. Bid.Com offers consumers brand name goods direct from the
manufacturer in Canadian dollars with Canadian warranties at below-retail
prices with dedicated Canadian customer service.
Canadians can join the auction by logging on to www.bid.com and choosing
from a wide range of brand name merchandise such as Intel personal
computers, Vanderbilt purses, Sony Walkmans and travel packages from Virgin
Holidays. Once the item is selected, the consumer submits his or her bids
via a fully secured on-line form or by calling 1-888-287-7467 toll free.
Net users can also bid through Bid Buddy, which automates the bidding
process by entering bids on a customer's behalf and Search Buddy a
technology tool which conducts a seven-day search for products as specified
by the customer. During the auction, consumers set their own prices and
those with the highest bids at the close of the auctions, get the goods.
Bid.Com arranges for delivery of merchandise within 14 days after the close
of the auction. The web site also features special events and auction
cycles rotate three times a week, so users should check the site for new
deals on a regular basis.
On-line auctions provide a fun and interesting way to shop. In Canada,
on-line shopping is on the rise, with 36 per cent of Canadian web users
making purchases over the Internet last year, up from 20 per cent in 1996.
Most on-line auctions use an interface which simulates a catalog but
Bid.Com is designed to recreate the excitement of a real live auction by
putting the bidder directly into an auction room. Bid.Com also uses
proprietary technology which allows them to run a number of different
auctions and auction formats simultaneously while serving many concurrent
customers.
The Canadian auction follows a successful U.S. version of Bid.Com
introduced in April 1996. The Canadian on-line auction is part of a
marketing services agreement valued at $6-million with Rogers New Media, a
division of Rogers Media Inc., which is a wholly owned subsidiary of Rogers
Communications Inc. This agreement combines Bid.Com's leading-edge and
award-winning auction platform with Rogers' national media properties,
forming what will become the dominant on-line auction in Canada.
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