This just out over CSW:
Bid.Com and American Interactive launch live streaming video auction
Bid.Com International Inc BII
Shares issued 38,963,434 Apr 28 close $24.85
Thu 29 Apr 99 News Release
Mr. Paul Godin reports,
Bid.Com International and American Interactive Media, Inc., have launched
the Internet's first live streaming video and audio auction, which was held
April 27, 1999, with over 90 per cent of the items up for auction selling
out.
This first-of-its-kind auction utilized Bid.Com's patented declining-price
(Dutch) auction technology and AIME's creative, marketing and production
capabilities. Broadcast by RealNetworks' Real Broadcast Network in
RealAudio and RealVideo, the live auction was seen by tens of thousands of
visitors to the www.bid.com and AIME's www.comedynet.com Web sites.
"The show was a big success," said Jeff Lymburner, president of Bid.Com.
"Bid.Com is already planning future auctions with celebrity and
non-celebrity auctioneers alike, and we'll begin regularly scheduled
Web-casts in May. Last night's history-making production also bodes well
for future applications across both narrow and broad band, in both consumer
and business-to-business areas as we look to develop the next generation of
shopping channels."
Mr. Lymburner added, "Bid.Com's system has enormous capacity, and during
this popular auction usage never exceeded 35 per cent of capacity. However,
higher than expected demand from certain geographic regions made it
difficult for some users' browsers to access the site. We expect to make
adjustments to minimize these access issues going forward."
Mark Graff, president and chief executive officer of American Interactive
Media, said, "Viewer response to our combination of live video streaming
auctions with the humorous hosting of Lewis Black was very positive. We've
been so encouraged by these results that we are aggressively moving forward
to incorporate the Bid.Com technology with video in all of our networks,
including ComedyNet, Crimebeat and RomanceLand, for Web based, satellite
and digital cable distribution. Our planned launch of a full network
dedicated to video auctions has been stepped up."
Bid.Com, founded in 1995, is one of the Internet's leading on-line auction
sales organizations, with offices in Toronto and Tampa, Fla. The company
offers a compelling, entertaining and cost-effective method of selling a
wide array of goods and services over electronic distribution channels.
Bid.Com is strategically positioned to leverage its business-to-consumer
technological leadership by offering the pre-eminent on-line auction
platform for co-ventures into business-to-business markets, licensing
custom branded E-commerce solutions and for distribution through
broadband/cable media. The company's shares have traded on the Toronto
Stock Exchange since February 1998, and were recently listed on the Nasdaq
National Market.
American Interactive Media, Inc. headquartered in New York,
(http://www.aime-inc.com), is creating original, branded entertainment
programming that can be distributed over many platforms, including the
Internet, cable and satellite television, and radio.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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