netherlands site opens!
QXL.com Launches in the Netherlands Online Auctioneer, QXL.com
plc, Continues European Expansion With 5th New Site
October 26, 1999
LONDON, Oct. 26 /PRNewswire/ -- QXL.com plc (London: QXL) (Nasdaq: QXLC), the pan-European online auctioneer, announces today the launch of www.qxl.nl, its new auction site in the Netherlands.
The Netherlands will be QXL.com's fifth web site in Europe following launches in France, Germany, Italy and the UK. International Data Corporation has estimated that the market in the Netherlands is expected to reach 7.5 million Internet users by 2002.
As on all QXL sites, QXL.nl offers a wide range of merchandise and services for auction from computer software and hardware, consumer electronics, household appliances and collectibles to travel-related items and sports equipment. Consumer-to-consumer as well as business-to-consumer auctions will be simultaneously conducted. The consumer generated auctions enable individuals to create their own Web auctions, and sell anything from antiques, toys and stamps to videos, software and music.
"Auctioning is one the most popular ways of shopping online so we're delighted to introduce such a service to Dutch consumers," said Michiel van der Meer, Managing Director for QXL.nl. "I am looking forward to building QXL's online auction business in the Netherlands."
Michiel van der Meer is an experienced marketing professional having spent 13 years in the industry. Prior to QXL.nl, Michiel was a member of the management team at online publishers, Planet Internet, before being appointed managing director of OZZ Interactive, part of Ammirati Puris Lintas.
"The launch in Holland is consistent with our European expansion strategy," said Jim Rose, CEO, QXL.com plc. "QXL.com plc auction sites in the UK, France, Germany and Italy have been very successful, and we are confident this will be the case in Holland. E-commerce in Europe is currently experiencing phenomenal growth and we are well-positioned to meet this increasing demand from European consumers."
Background on QXL.com
QXL.com is a pan-European online auction community. QXL.com simultaneously conducts consumer-to-consumer and business-to-consumer auctions in four languages and currencies. The QXL.com online auction community facilitates trading 24 hours a day, seven days a week in an efficient, convenient and entertaining environment. QXL.com enables buyers to bid on merchandise and services from across Western Europe which are sold by QXL.com, QXL.com members and merchants. QXL.com also enables sellers to locate and trade with buyers in new geographic markets. A wide selection of merchandise and services is available on our online auction community, ranging from computer software and hardware, consumer electronics, household appliances and collectibles to travel-related items and sports equipment.
QXL.com provides access to the QXL.com trading community in English (www.qxl.com and www.qxl.co.uk, launched in November 1997), German (www.qxl.de, launched in October 1998), French (www.qxl.fr, launched in December 1998) and Italian (www.qxl.it, launched in June 1999). It recently listed on the London Stock Exchange and Nasdaq.
This press release may contain forward-looking statements that relate to the Company's plans, objectives, estimates and goals. The Company's business is subject to numerous risks and uncertainties, including risks associated with: only having a limited operating history; regulation of auctions and the Internet; probable variability in the Company's quarterly operating results; the Company's results of operations not being indicative of future performance; significant losses being incurred as a result of expansion of the Company's business; having a new and unproven business model; dependence on growth of online consumer-to-consumer commerce market; difficulty of selling merchandise purchased for auction at a profit; inability to forecast or respond to consumer demand; risks associated with development and growth of the Company's foreign language web sites; intense competition; systems and communications failures; failure to develop the Company's brand; failure to expand the Company's systems; failure to improve the Company's computer systems; risks associated with managing internal growth and retaining and recruiting personnel; risks associated with maintaining and managing relationships with our suppliers and service providers; international expansion; online commerce security; risks associated with not developing new services, features and functions; risks associated with intellectual property rights; Year 2000 compliance issues; fraudulent activity of our members and suppliers; seasonality; and risks associated with acquisitions. These and other risks and uncertainties, which are described in more detail in the Company's Registration Statement on Form F-1 filed with the Securities and Exchange Commission, could cause the Company's actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.
/CONTACT: Jurjen Worp of DLV Public Relations, Amsterdam, +31-23-565-1918, or jurjen@dlvpr.nl; or Alison Cabot, Communications Director of QXL.com, +44-181-962-7231, or alison.cabot@qxl.com/
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