News on the wires:
BigWig.com SELECTS On2.com to Power Internet's First Broadband Luxury Site
On2 Focuses on Providing Business-to-Business Broadband Applications to Leading Traditional and New Media Companies
NEW YORK, March 30 /PRNewswire/ -- On2.com Inc. (Amex: ONT), a leader in broadband content delivery over the Internet, and BigWig.com, Inc., a leading online luxury e-commerce company, today announced an agreement to enable the Internet's first broadband luxury site -- The BigWig Luxury Channels -- utilizing On2's full-motion, full-screen, television-quality video technology. Financial terms of the transaction were not disclosed.
BigWig.com's new broadband network, The Luxury Network(TM), will feature the Internet's first luxury content and e-commerce site -- The BigWig Luxury Channels -- showcasing luxury auctions, luxury shopping and luxury lifestyles. BigWig.com will provide Web site marketing and content through a series of strategic partnerships that will be announced in the second quarter of 2000.
The agreement includes applying On2's proprietary TrueMotion VP3(TM) broadband technology services to BigWig.com content, as well as a full range of ancillary On2 broadband services to deliver full-motion, full-screen, television-quality video to BigWig.com broadband-enabled Internet users. These services will include video storage, serving and hosting on the broadband On2Network, as well as customized technical support from On2 technology consultants.
"The demand for broadband technology applications is tremendous, and we believe that On2 is perfectly positioned to meet the needs of companies who want to tap into the booming broadband market," said Dan Miller, Founder, President and CEO of On2.com. "BigWig.com is the first of many Broadband Premier Partners we are working with in our effort to bring the next- generation of Internet content to broadband consumers. Through monetizing our TrueMotion VP3(TM) technology, we are helping companies like BigWig.com to enhance their customers' online experience and purchasing power."
"Broadband is the next frontier of the Internet," said Scott Lewis, CEO of BigWig.com, Inc. "By deploying On2.com's groundbreaking broadband solutions, the BigWig Luxury Channels will allow upscale consumers to take full advantage of On2's incredible video and audio capabilities. As the BigWig Luxury Channels evolve in content and capabilities, our initial partnership with On2 will form the beginning for even more innovative uses of this extraordinary broadband technology."
About On2.com Inc.
On2.com Inc. (Amex: ONT) is a global leader in broadband technology and content delivery over the Internet. On2's proprietary video compression and streaming technology -- TrueMotion VP3(TM) -- revolutionizes the consumer Web experience by delivering full-motion, full-screen, television-quality video over the Internet at data rates as low as 250 kilobits/second. On2 has developed the Internet's first network of Web channels exclusively for broadband consumers (http://www.on2.com), and is further leveraging its technology and broadband expertise to enable Web developers and other third-party content providers to transform their narrowband content to the new broadband world. Headquartered in New York City's Tribeca Film Center in the heart of Silicon Alley, On2 is located at 375 Greenwich Street, New York, NY 10013 and can be reached at 212-941-2400 or info@on2.com. Investor inquiries should be sent to invest@on2.com.
About BigWig.com, Inc.
BigWig.com, Inc., a leading on-line luxury e-commerce company, pioneered luxury auctions on the Internet through its subsidiary, BigWigAuctions.com (http://www.bigwigauctions.com) where it has featured the most expensive cars and wine, and the largest diamond ever auctioned on the Internet. Utilizing partnerships with the industry's technology and content leaders, BigWig.com (http://www.bigwig.com) is launching the Internet's first broadband Luxury Network through its luxury site, the BigWig Luxury Channels. The site will feature interactive full-screen, full-motion video via BigWig's Luxury Auction Channel(TM), Luxury Shopping Channel(TM), and Luxury Lifestyles Channel(TM), which will be tailored to meet the needs of affluent consumers. BigWigAuctions.com was the number one ranked exclusively luxury Internet auction site for E-Christmas 1999 as rated by Go2Net's Hot100. BigWig.com, Inc. is a privately held Washington-based company and can be reached at 888-550-4243 or questions@bigwig.com. Investor inquiries should be sent to jeff@bigwig.com. More information is also located at bigwig.com.
BigWig.com, BigWigAuctions.com, The Luxury Network, Luxury Channels, Luxury Auction Channel, Luxury Shopping Channel, and Luxury Lifestyles Channel are trademarks or registered trademarks of BigWig.com, Inc. All other product and company names are trademarks or registered trademarks of their respective companies.
This release contains statements that constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21 of the Securities Exchange Act of 1934 and are subject to the safe harbor provisions of those sections and the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk uncertainties including those described in On2.com filings with the SEC, and that the actual results or developments may differ materially from those in the forward-looking statements as a result of various factors. On2.com has based these forward-looking statements on information currently available and disclaim any intention or obligation to update or revise any forward-looking statement. |
