Autoweb IPO 3/22/99 AWEB Message Board

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Technology Stocks : Autoweb IPO 3/22/99 AWEB

AWEB 0.000400

0.0%

Oct 18 5:00 PM EST

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To: L. Adam Latham who wrote (122)	3/25/1999 9:30:00 AM
From: Pluvia	Read Replies (2) of 696

AWEB - BUYER BEWARE - Business Plan is RIDICULOUS... Adam, <<<I agree with you that Autoweb.com may not have a competitive advantage over the other services I mentioned, but I firmly believe they benefit the consumer by allowing them to go to the dealership knowing what they're going to have to pay.>>> There are already numerous publications that tell you exactly what you should "offer" a dealer for a car - based on the dealers costs for the car and each accessory. Independent publications - I might add - like Consumer Reports, that can be trusted because they're not getting paid by the dealer... AWEB does nothing for the consumer besides provide the buyer with ONE referral. Big deal. Anyone buying a car will first determine what they want to pay, then shop all the area dealers with that offer. AWEB does not help the buyer at all in this process or improve the buyer's chances of getting a better price. AWEB's business is referrals to dealers, and dealers have already voted AWEB's service a loser - look at the high rate of dealer turnover noted in the AWEB prospectus. The AWEB business plan is IMO ridiculous, and the fact that First Boston would take this trash to market just proves to me that Wall Street firms will do anything - including grovel in the gutter to make those "Investment Banking" fees. Stock will see the 20's within 3 days - maybe today. Did you notice how AWEB dropped 5 points when MINE started trading? Wait till ABTL trades... Good Luck Steve

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