even more...
Tuesday January 26, 9:06 am Eastern Time
Company Press Release
New Web Site Enables Teens and Kids to Shop and Save On-line
iCanBuy.com to launch with unique parental-approval system
SAN FRANCISCO--(BUSINESS WIRE)--Jan. 26, 1999--Until now, kids and teens have been unable to participate in the
booming world of e-commerce because most lack the essential financial instrument--a credit card. A new Internet site,
iCanBuy(tm), has a pioneering solution.
With the introduction of iCanBuy, a free service, kids and teens will now be able to shop and save on-line in a safe,
parent-approved environment. Parents use a credit card to create an on-line debit account for their child, then are able to set spending limits and decide which retailers are
available for shopping.
iCanBuy.com, which will go live on March 1, 1999, has partnered with more than a dozen leading on-line retailers, including Outpost.com (Nasdaq: COOL - news),
Beyond.com(tm) (Nasdaq: BYND - news), fashionmall.com, American Eagle Outfitters (Nasdaq: AEOS - news), Sports Superstore Online, TheHut.com, a division of
Fingerhut Companies (NYSE: FHT - news), FogDog Sports, Designer Outlet.com, Justballs!, Underneath.com, smell THIS®, E/Town, CDuctive and Kesmai's
Gamestorm, a subsidiary of News Corporation (NYSE: NWS - news).
iCanBuy.com has also forged a partnership with Security First Network Bank, a member of the Royal Bank Financial Group (NYSE: RY - news), to allow teens and
kids to have interest-bearing savings accounts on-line. In addition, teens and kids can chat about money management and other related topics through a partnership with
Talk City, a community of over 2.5 million repeat users, and the fastest-growing community site on the Internet.
''With the growing number of teens and kids on-line and their increased buying power, iCanBuy.com provides young adults with an unprecedented opportunity to shop
and save on-line, while learning how to manage money responsibly,'' says R. Paul Herman, co-founder of iCanBuy.com and Chief Executive Officer of BlackBox
Internet Group.
''We offer thousands of computer products that appeal to computer savvy consumers under 18,'' says Darryl Peck, President and CEO of Cyberian Outpost.
''We are pleased to be a trusted merchant in the program because iCanBuy.com enables children to shop independently and learn how to make responsible buying
decisions online.''
Packaged Facts via InterRep Research found that young people aged 4 to 18 spend approximately $130 billion a year. To date, it has been virtually impossible for them
to buy over the Internet with their own money -- yet there are now 16 million teens and kids on-line according to Cyber Dialogue.
Initially, parents contribute to their kid's or teen's account by setting up an electronic allowance or depositing a lump-sum deposit by credit card. Parents choose the sites
available for shopping and determine their child's spending limits. Teens and kids then get to shop at the actual web site of partner retailers, save at an on-line bank,
donate to charity, chat about money management, and learn how to use their money responsibly. Parents can review their children's account activity at any time and
revise permissions accordingly. A patent is pending on the site's technology and processes.
With one click, kids and teens can also add items to their wishlist, a cross-vendor record of products they would like to receive, much like a wedding registry. Friends
and relatives can then see what the young person would like for a birthday or holiday, and purchase it on the spot.
iCanBuy is also partnering with charities to encourage kids and teens to make donations. iCanBuy will provide this as a free public service, with 100% of funds being
passed through to participating charities.
BlackBox Internet Group, Inc. (BBIG) was founded in 1998 to make iCanBuy(tm) the first on-line tool for teens and kids to manage their money wisely. BBIG's
headquarters are located in the South of Market area of San Francisco.
Members of the press can preview the site at icanbuy.com. The site is best viewed on Internet Explorer 3 and 4. This preview site if for members of
the press only and should not be printed.
Contact:
Paul Herman
BlackBox Internet Group
415/575-3520
PaulH@iCanBuy.com
or
Atalanta Rafferty
Ruder Finn
212/593-6465
raffertya@ruderfinn.com |
