AWESOME GUYS:-))))))))))))))))))))
Applies to -- LCOS -- VTCO
LYCOS AND VIRTUAL TECHNOLOGY CORP. SIGN MULTIMILLION DOLLAR PREMIER TECHNOLOGY MARKETING AGREEMENT OFFERS 30 MILLION USERS WITH Breakthrough Ways to Buy Technology
LYCOS AND VIRTUAL TECHNOLOGY CORP. SIGN MULTIMILLION DOLLAR PREMIER
TECHNOLOGY MARKETING AGREEMENT OFFERS 30 MILLION USERS WITH
Breakthrough Ways to Buy Technology
WALTHAM, Mass., and MINNEAPOLIS, Nov 12, 1999 /PRNewswire via
COMTEX/ -- Lycos, Inc. (Nasdaq: LCOS), the fastest growing Internet
portal and the world's largest online community, and Virtual Technology
Corp. (OTC Bulletin Board: VTCO) today announced a strategic agreement
to create a co-branded web site allowing both business customers and
consumers to purchase a vast selection of computers and
technology-related products. Computers and technology-related products
currently rank second in dollar volume, behind only travel, as a
category of online purchases.
According to the terms of the agreement, the monies will be paid to
Lycos over a three-year period. The companies have agreed to share
revenue from sales and advertising generated from the co-branded site.
The site will provide users access to more than 60,000 hardware
products, 100,000 software products, 25,000 office products and
thousands of consumer electronic products. Virtual Technology Corp.
(VTC) built their reputation by providing real value-added services,
including free shipping, a thirty-day guarantee and on-site service.
VTC and Lycos will market the products to the Lycos Network's 30
million monthly visitors. VTC is committed to building lasting customer
relationships and will participate in Lycos Rewards, the
recently-announced loyalty program that rewards users for shopping both
online and offline.
"We are confident that VTC will bring a unique blend of pricing,
knowledge and customer satisfaction to our users," said Bob Davis,
president and CEO of Lycos. "They built their reputation by providing
real value-added services and are committed to building lasting
customer relationships."
Gregory Appelhof, VTC's CEO and president, called his company's
agreement with Lycos, "a tremendous validation of our strategy of
serving business customers and consumers not just at the purchase point
but throughout the fulfillment cycle. This is not just another
e-commerce affiliation," he said. "It's about giving all communities a
better way to purchase technology. We are honored to build this
co-branded site with one of the great names in the online service
world."
In a separate announcement today, VTC also disclosed plans to change
its flagship "e-tail" Web site from www.virtual-world.com to
www.netdirect.com, to more accurately reflect its expanding e-commerce
business operations.
About Lycos, Inc. Founded in 1995, Lycos, Inc. is a leading Web media
company and owner of the Lycos Network, one of the most visited hubs on
the Internet reaching one out of every two Web users. The Lycos Network
is a unified set of Web sites that attracts a diverse audience by
offering a variety of services, including leading Web navigation
resources, homepage building and other Web community services and a
comprehensive shopping center. The Lycos Network is composed of premium
sites: Lycos.com, Tripod, WhoWhere, Angelfire, MailCity, HotBot,
HotWired, Wired News, Webmonkey, Suck.com, MyTime, Sonique and
Quote.com. Lycos.com (http://www.lycos.com), "Your Personal Internet
Guide," is dedicated to helping each individual user locate, retrieve
and manage information tailored to his or her personal interests.
Headquartered near Boston in Waltham, Mass., Lycos, Inc. is a global
Internet leader with a major presence throughout the U.S., Europe, Asia
and Latin America.
About Virtual Technology Corporation Virtual Technology Corp. (VTC), is
expanding its manufacturer-to-customer e-commerce business offerings
and changing its marketing, branding and Web site address to the
descriptor www.netdirect.com . The Company has grown through four
primary business units: an "e-tail" Web site located at
www.virtual-world.com offers more than 60,000 choices of brand name
computer products and over 100,000 software titles; Graphics
Technologies Inc. (www.graphicstech.com) a 12 year old wholesaler and
distributor of high-end computers and graphic products with seven
regional offices and 1998 net sales of $65 million; Community
TechMart(TM), a private label e-commerce service with complete
inventory, fulfillment and transaction processing systems; and a
technology product auction service located at www.auctions.vtechco.com
.
For additional background information, a fact sheet and additional
corporate information, see www.vtechco.com .
SOURCE Virtual Technology Corp.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: Laurie Zenner, 612-375-8512, or lzenner@clynch.com or Victoria
Smith, 612-375-8542, or vsmith@clynch.com, both of Carmichael Lynch Spong, for
Virtual Technology Corp.; or Brian Payea of Lycos, Inc., 781-370-2885, or
bpayea@lycos.com; or Sean Audet of Schwartz Communications, 781-684-0770, or
saudet@shwartz-pr.com, for Lycos, Inc.
WEB PAGE: vtechco.com
GEOGRAPHY: Massachusetts
Minnesota
INDUSTRY CODE: CPR
SUBJECT CODE: LIC
OTC
|
