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Technology Stocks : CyberCash a buy? -- Ignore unavailable to you. Want to Upgrade?

To: PeterR1700 who wrote (2201)	11/6/1998 12:34:00 PM
From: jjs_ynot	Read Replies (1) \| Respond to of 3990

NEWS ARTICLE: News November 6, 08:56 Eastern Time ALISO VIEJO, CALIF. (Nov. 6) BUSINESS WIRE -Nov. 6, 1998-- Investment Paves Way for Growth of One of the Internet's Most Successful E-commerce Ventures BUYCOMP.COM (www.buycomp.com) the world's largest Internet-only computer retail store, Friday announced it has secured a $40 million investment from Internet investment powerhouse SOFTBANK Holdings and its affiliates. The investment, which represents a 9.9 percent ownership interest in BUYCOMP.COM, was finalized on Sept. 30, 1998. In August 1998, SOFTBANK Technology Ventures, an affiliate of SOFTBANK, provided an initial and separate investment of $20 million representing a 10.25 percent ownership in BUYCOMP.COM. Based on the combined capital, BUYCOMP.COM is now valued at $400 million, making it one of the highest pre-IPO valuations in history. The investments will pave the way for the company to expand its remarkably successful business model to new online markets. "BUYCOMP.COM is a natural addition to our Internet portfolio, " said Ron Fisher, vice chairman of SOFTBANK Holdings. "Its proven business model is among the most compelling in the Internet industry. With its strong leadership and aggressive growth plan, BUYCOMP.COM has been able to establish itself as a leader in high-quality, high-service online computer distribution. BUYCOMP.COM's record of growth, coupled with our expertise in creating online business successes, is a powerful combination that we feel will result in one of the best online superstores in the industry." Scott Blum, BUYCOMP.COM founder and chief executive officer, commented: "The backing from SOFTBANK represents a powerful financial as well as business partnership for BUYCOMP.COM. We have proven that we are the right distribution and advertising partner for companies that sell their products online, as well as a great resource for consumers. Our relationship with SOFTBANK allows us to expand our business, based on our proven business model. We look forward to our partnership with SOFTBANK, and believe that the combination of BUYCOMP.COM and SOFTBANK will allow us to achieve our goal of being THE destination site for online computer shopping." About SOFTBANK SOFTBANK Holdings is the holding company for all of SOFTBANK Corp.'s U.S.-based activities. Its major operating companies include Ziff-Davis (NYSE: ZD), Kingston Technology Company, and UTStarcom. SOFTBANK is the largest shareholder of Yahoo! (Nasdaq: YHOO) and E-Trade (Nasdaq: EGRP), and a minority investor in The Rights Exchange, GeoCities (Nasdaq: GCTY), CyberCash (Nasdaq: CYCH), First Virtual Holdings (Nasdaq: FVHI) and E-LOAN. In addition, through affiliated venture funds in the U.S. and Japan, the SOFTBANK Group has made more than 70 investments in Internet companies. URL: www.softbank.com. About BUYCOMP.COM BUYCOMP.COM, The Internet Computer Superstore, is an online retail Web site that provides detailed product information and comparisons of over 30,000 computer hardware and software products. With guaranteed low prices, the BUYCOMP.COM Web site includes specific product categories such as buycomputers, buynotebooks, buystorage, etc. The BUYCOMP.COM Web site also includes a custom search engine, providing fast efficient and ways for making buying decisions and purchasing computer products instantly. Founded in October 1996, BUYCOMP.COM is a privately held company with headquarters in Aliso Viejo, Calif. Information pertaining to BUYCOMP.COM can be found at www.buycomp.com. For additional information, contact Jennifer Blanchfield at jennifer@buycomp.com. All trademarks and registered marks belong to their respective owners. BUYCOMP.COM, The Internet Superstore, and the Internet Retail Network (IRN) are registered trademarks or service marks of BUYCOMP.COM. KM/np* JS/np CONTACT: BUYCOMP.COM Dawn Rusick, 949/654-1792 dawn@drpr.com or Martha Felt Group Kelli Tejada, 650/529-2350 ktejada@mfgm.com