2TheMart.com, Inc. Relocates to New Headquarters
IRVINE, Calif.--(BUSINESS WIRE)--Feb. 24, 1999--2TheMart.com, Inc.(the
''Company''), (Nasdaq:TMRT - news), announced today that it has leased space for its new world headquarters.
The Company has leased 20,342 square feet of state of the art office space at the former Apple Building, located at 18301 Von Karman Avenue, 7th Floor, Irvine, California 92612. This space was formerly occupied by the investment banking firm of Cruttenden Roth Incorporated. The space provides the Company with tremendous efficiencies in design, layout and cost as most of the tenant improvements installed by Cruttendon Roth for its investment banking and brokerage services business, such as telephone and data line cabling, including extensive bandwidth capabilities, will be able to be utilized by the Company in preparing for its launch of its E-commerce, person to person trading community. Moreover, the Company was able to achieve an extremely favorable lease rate as a result of Cruttendon Roth's need to move into much larger space.
2TheMart.com's business strategy will be to launch its E-commerce and person to person trading community in the second quarter of 1999. The site, which is currently in final development, will provide a dynamic person to person trading environment, like those established by eBay.com (Nasdaq:EBAY - news), and other online auctions such as those of Onsale, Inc. (Nasdaq:ONSL - news); Excite, Inc. (Nasdaq:XCIT - news); Ubid, Inc. (Nasdaq:UBID - news); and Egghead Software (Nasdaq:EGGS - news), with enhanced features for the users of the site. The site is intended to be one of the largest and preeminent on-line trading communities on the web.
To achieve this result, the Company has retained the services of leading web design and architecture consultants to design and construct the unique 2TheMart.com site. The site will contain a variety of useful tools for its users, such as e-mail access, chat room, security for transaction processing, escrow options, user feedback, video streaming features and the ability to have real time, live video auctions. The Company is designing the site to provide a full community environment among its users.
Certain information and statements included in this release constitute ''forward-looking statements'' within the meaning of the Federal Private Securities Litigation reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.
Contact:
2TheMart.com, Inc.
Dominic J. Magliarditi, 949/757-1630 |
