To: Rajiv who wrote (28661 ) 4/29/1999 2:18:00 PM From: Curious Gamble Read Replies (1) | Respond to of 37507
This just out over CSW: Bid.Com and American Interactive launch live streaming video auction Bid.Com International Inc BII Shares issued 38,963,434 Apr 28 close $24.85 Thu 29 Apr 99 News Release Mr. Paul Godin reports, Bid.Com International and American Interactive Media, Inc., have launched the Internet's first live streaming video and audio auction, which was held April 27, 1999, with over 90 per cent of the items up for auction selling out. This first-of-its-kind auction utilized Bid.Com's patented declining-price (Dutch) auction technology and AIME's creative, marketing and production capabilities. Broadcast by RealNetworks' Real Broadcast Network in RealAudio and RealVideo, the live auction was seen by tens of thousands of visitors to the www.bid.com and AIME's www.comedynet.com Web sites. "The show was a big success," said Jeff Lymburner, president of Bid.Com. "Bid.Com is already planning future auctions with celebrity and non-celebrity auctioneers alike, and we'll begin regularly scheduled Web-casts in May. Last night's history-making production also bodes well for future applications across both narrow and broad band, in both consumer and business-to-business areas as we look to develop the next generation of shopping channels." Mr. Lymburner added, "Bid.Com's system has enormous capacity, and during this popular auction usage never exceeded 35 per cent of capacity. However, higher than expected demand from certain geographic regions made it difficult for some users' browsers to access the site. We expect to make adjustments to minimize these access issues going forward." Mark Graff, president and chief executive officer of American Interactive Media, said, "Viewer response to our combination of live video streaming auctions with the humorous hosting of Lewis Black was very positive. We've been so encouraged by these results that we are aggressively moving forward to incorporate the Bid.Com technology with video in all of our networks, including ComedyNet, Crimebeat and RomanceLand, for Web based, satellite and digital cable distribution. Our planned launch of a full network dedicated to video auctions has been stepped up." Bid.Com, founded in 1995, is one of the Internet's leading on-line auction sales organizations, with offices in Toronto and Tampa, Fla. 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 broadband/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, (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. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com