Internet's First Live Streaming Video Auction To Be Held By Bid.Com And American Interactive Media
Auction Will Utilize Bid.Com's Patented Declining-Price (Dutch) Auction Format And Feature ComedyNet Host Lewis Black and RealNetwork Broadcasting
April 22, 1999 08:02 AM
TORONTO and NEW YORK, April 22 /PRNewswire/ -- Bid.Com International Inc. BIDS and American Interactive Media, Inc., AIME today jointly announced that they will hold the Internet's first live streaming video and audio auction, broadcast by RealNetworks' RNWK Real Broadcast Network in RealAudio and RealVideo. The one-hour webcast will run Tuesday, April 27, 1999 at 10:00 p.m. EST (9:00 Central, 8:00 Mountain and 7:00 Pacific). Consumers can participate in the live auction by visiting www.bid.com or linking through AIME's www.comedynet.com.
This auction is the first programming event to spring from the two companies' joint venture agreement signed in January, 1999. In working together to create this breakthrough interactive shopping experience, Bid.Com contributed its proprietary declining-price (Dutch) auction format and technology and AIME contributed its creative, marketing and production capabilities.
Bid.Com's patented Dutch auction format increases value and fun for buyers by reducing prices from a set starting price until the lot of goods is completely sold out. Viewers will have the opportunity to bid on a hockey jersey autographed by Wayne Gretzky, baseballs signed by Roger Clemens, Tag Hauer watches, Hewlett-Packard computer monitors and other items.
In another Internet first, the auction will be hosted by veteran comedian Lewis Black, who is regularly seen on AIME's ComedyNet, the Internet's only 24-hour comedy channel. Mr. Black has headlined top comedy clubs for 20 years and appeared in Mad About You and Homicide on television, and in Hannah and Her Sisters and Jacob's Ladder on film. He has also written and produced dozens of theatrical plays.
Paul Godin, Chairman and CEO of Bid.Com, said, "We are excited to be able to combine our entertaining auction format and technology with the humor of Lewis Black and the production and interactive experience of American Interactive Media to create this Internet auction first. We look forward to working with our joint venture partner, American Interactive Media, to develop the next generation of shopping channels, provide technical improvements to enhance consumer's auction experience, and explore the potential to create programs for cable, satellite and broadcast television."
Mark Graff, President and CEO of American Interactive Media, said, "Bid.Com has e-commerce technology that is truly unique on the Internet -- the ability to give customers lower and lower prices as the auction moves forward. The fun and excitement increase by adding the creative talent and rich video programming skills we bring to all our networks. We look forward to producing more live video auctions for Bid.Com in the future."
Ian Freed, general manager of RealNetworks, Inc., said "By providing live streaming RealVideo and RealAudio as part of the online auction, consumers will enjoy a greatly enhanced experience. RBN was specifically designed to provide a high quality viewing and listening experience to large audiences over the Internet."
Bid.Com, founded in 1995, is one of the Internet's leading on-line auction sales organizations, with offices in Toronto and Tampa, Florida. The company offers a compelling, entertaining and cost-effective method of selling a wide array of goods and services over electronic distribution channels. Bid.Com is strategically positioned to leverage its business-to-consumer technological leadership by offering the pre-eminent on-line auction platform for co-ventures into business-to-business markets, licensing custom branded E-commerce solutions and for distribution through broandband/cable media. The company's shares have traded on The Toronto Stock Exchange since February 1998 and were recently listed on the Nasdaq National Market.
American Interactive Media, Inc. headquartered in New York City (http://www.aime-inc.com), is creating original, branded entertainment programming that can be distributed over many platforms, including the Internet, cable and satellite television, and radio.
Bid.Com and American Interactive Media notify readers that this news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the Safe Harbor provisions of the U.S. federal securities laws. Forward-looking statements involve risks and uncertainties including successful development and implementation of technology, acceptance of each company's products and services, competitive factors, news products and technological changes, and other such risks as each company may identify and discuss from time to time, including those risks disclosed in Bid.Com's Amended Form 20-F filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the companies' respective plans will be achieved.
SOURCE Bid.Com International Inc.
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