Autoweb IPO 3/22/99 AWEB Message Board

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Technology Stocks : Autoweb IPO 3/22/99 AWEB

AWEB 0.000400

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Oct 18 5:00 PM EST

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To: chill+ who wrote (108)	3/24/1999 1:35:00 PM
From: Pluvia	Read Replies (5) of 696

BUYER BEWARE - AutoWeb Has a Pathetic Business Plan... The concept is this: Go to the AutoWeb website, fill out your name and the kind of car you want and then ~apparently~ someone from a dealership in your area calls you back. Huh? 1. Why in the world would I want to give any personal information to a car salesman? Especially over the internet? 2. If I want to see or buy a car - why not just go to the dealership and check it out myself - or call 'em on the phone? Why would I put info on the internet and wait for a sales geek to call me? It is not like you are getting the best price from all of the dealerships in the area. AutoWeb is simply a referral service for dealerships that pay to participate. Where is the benefit to the consumer? What a ridiculous business plan - how in the world do people buy this stock and sleep at night? I tried the service as I was looking for a BMW. First problem - no BMW dealers in my area (population 1.4 million) are signed up with these guys. Next I tried a different car. Waited 3 days - no one ever called me. As you can see from the AutoWeb prospectus, the company has had many problems with this concept - evidenced by the high turnover of dealerships that want to work with them. This company seems to be the definition of stocks people buy in a tulip top market. Here is a company with a business plan that has IMO no possibility of success, where investors buy the stock for huge multiples from the offering price. The value of this stock is nothing more than the business of "greater fools" buying stock. Don't be the fool that gets caught holding the bag on this one folks. Stock will be in the 20's within a week IMO. Good Luck Steve

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