Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (107422)	8/23/2000 12:50:37 PM
From: Libbyt	Read Replies (1) \| Respond to of 164684

Amazon.com enters car market Giant links with Greenlight.com for auto shopping By Jennifer Waters, CBS.MarketWatch.com Last Update: 12:16 PM ET Aug 23, 2000 NewsWatch Latest headlines SEATTLE (CBS.MW) - Forget bedding and vases, consumers now can buy the real essentials - cars - from Amazon.com. The online retail giant said Wednesday that it is partnering with Greenlight.com to launch a new-car buying service. The service will be available in 27 markets, including Atlanta, Boston, Chicago, Detroit, Los Angeles, New York City, San Francisco and Washington, D.C., beginning Thursday. In all, those markets represent 70 percent of the electronic commerce population, Amazon.com Inc. (AMZN: news, msgs) said. Greenlight will pay Amazon $15.25 million to become a tab on the site for two years, according to Amazon spokesman Bill Curry. In a joint press release, Greenlight.com said it has received "a strategic investment" from Amazon, but didn't say how much. In January, Amazon announced that it had purchased 5 percent of closely held Greenlight's outstanding stock, but didn't price the investment. Amazon did contribute $2 million to the $39 million Greenlight raised recently in a second round of financing, Curry said. Greenlight also generated funding from its original investors Kleiner Perkins Caufield & Byers, and Asbury Automotive Group, as well as a handful of others. Greenlight.com was launched last November as an online service that partners with a network of local dealers. It claims it simplifies the buying process by providing consumers with "low, upfront pricing, the ability to get the exact car they want, a dedicated live account manager, and support from Greenlight's network of local dealers where and when it is needed." The partnership said it "takes the hassle out of buying a new car" with "upfront, no-haggle pricing; one-stop shopping for convenient financing and trade-in options." Investors apparently were unimpressed. Amazon shares were down a modest 1/8 to 36 3/8. cbs.marketwatch.com

To: Lizzie Tudor who wrote (107422)	8/23/2000 1:02:52 PM
From: Bob Kim	Read Replies (1) \| Respond to of 164684

As I say, if toys r us had the same point of view as the bears on this thread then they would never have done a deal with Amazon, and Amazon rallied 25% off this deal with no comments here from anybody, as if it never happened. How is that spot on? HB thought the TOY deal was a big deal: a way for AMZN to get a YHOO-like valuation. The ML analyst following TOY didn't even mention the AMZN deal in his latest report. A 25% rally was about $7.50, AMZN would have needed to rally more than 150% ($46) just to break even for the year.