Bid.Com President Announces Expansion Plans in a Bold Move to Challenge eBay's
Online Auction Leadership
Also Discusses Ireland and TV Shopping Channel in StockHouse.Com Interview
TAMPA, Fla., Jan. 28 /PRNewswire/ -- In a StockHouse.Com interview,
Jeff Lymburner, president of Bid.Com (Toronto: BII), revealed the upstart
Tampa online auction company (ranked #4 worldwide among online auction
websites) plans to outdo its primary competition (eBay and Onsale) with a
launch into the European Internet community and an Internet version of the
Home Shopping Network.
Lymburner named Dublin, Ireland for their European headquarters and
said, "I think that will be our first foray into international business
outside of North America, and that could easily extend to such far-flung
places as Australia." He also disclosed the online auction company is
gradually moving away from their core business and intends to launch a
TV-style online shopping network on the Internet in the coming months.
"Our arrangement with (American Interactive Media) puts us in a very
exciting position of being offered as content, for what is going to be a
very broad array of broadband distribution of opportunities." When asked
if Bid.Com hoped to emerge as the "Home Shopping Network" of the
Internet, Lymburner answered, "Yes, we're talking about fully
interactive television utilizing our auction infrastructure."
StockHouse also discovered that Bid.Com may be moving away from the
less profitable aspects of the online auction business, where Onsale,
Surplus Auction and eBay have staked large, but less profitable
positions. Lymburner stated, "The online auction format will continue to
grow in a fairly significant way, but there are other elements of the
business that are growing at least as fast or faster." He hinted at the
company's new direction, "Licensing has become a very attractive
opportunity for us. Margins are extremely high."
According to the latest ranking of 100hot.com, Bid.Com
ranked in fourth place behind eBay, Onsale and Surplus Auction.
StockHouse Media Corporation is an Internet financial media information
service company providing breaking news about North American stocks via their
Internet publication, StockHouse.com. With nearly one-half million visitors
per month, StockHouse has emerged as a leading, online, global financial
content provider. StockHouse.com is the #1 Canadian financial website, where
an estimated 10% of Canadian online investors conduct investment research.
StockHouse maintains offices in Vancouver and Toronto, Canada, with additional
offices in the United States and Australia. StockHouse has no financial
relationship with Bid.Com.
For further information contact:
StockHouse Media Corporation
Media Relations
PH#: (941)377-7337
FAX: (941)377-4656
E-Mail: media@stockhouse.com
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