Agreement Enables ChannelAdvisor to Provide Merchants with the Second Largest Online Auction Site While Enhancing uBid`s Product Mix
RESEARCH TRIANGLE PARK, NC AND CHICAGO, IL- September 5, 2001 - ChannelAdvisor Corporation, a leading provider of full-service, enterprise-level marketplace management solutions, and uBid, a leading online auction and e-commerce marketplace, today announced an agreement that enables ChannelAdvisor to offer its retailers and manufacturers an opportunity to present a unique branded shopping experience to uBid`s more than 2.5 million registered users, while enabling uBid to offer its buyers a broader selection of items to purchase. Terms of the deal were not disclosed. Additionally, ChannelAdvisor will be adding uBid to the ChannelAdvisor Pro Network in the coming months.
"There was no question in our mind that uBid was a `must have` for our customers," said Scot Wingo, chief executive officer and president of ChannelAdvisor. "uBid has a large user base looking for bargains on brand name merchandise as well as an extensive offering in the computers and consumer electronics categories. It`s a natural fit as our customer base includes some of the largest retailers and manufacturers of computers and consumer electronics."
As e-marketplace experts, ChannelAdvisor works with companies to formulate a strategy to quickly increase online sales. Overstocked, returned or unsold inventory is introduced to millions currently buying through dynamic-pricing channels such as uBid.com, eBay (NASDAQ: EBAY), Amazon (NASDAQ: AMZN) and Yahoo! Auctions (NASDAQ: YHOO), thus significantly increasing inventory turnover.
"By joining forces with ChannelAdvisor, we are able to offer uBid shoppers even more brand name products to choose from, while providing ChannelAdvisor customers with access to uBid`s sizable and targeted audience," said Alan Cohen, senior vice president of marketing at uBid. "ChannelAdvisor is essential in bringing additional brand-name retailers to the uBid marketplace."
uBid, the No. 2 online auction site (Media Metrix June 2001), offers consumers and small to mid-sized businesses the opportunity to purchase a wide range of brand name merchandise often at greatly reduced prices. In addition, uBid offers supplier warranties on most products and bids begin as low as $9.
About ChannelAdvisor Corporation
ChannelAdvisor Corporation is the leading provider of full-service, enterprise-level marketplace management solutions enabling retailers and manufacturers to create a brand presence on the Web`s leading e-marketplaces. ChannelAdvisor services for customers include establishing your brand as a premier seller on leading e-marketplaces, creating a complete brand package, developing and executing a sales strategy and managing all marketplace tasks including customer service. ChannelAdvisor`s powerful technology provides a seamless solution that integrates with businesses` existing technology infrastructures, including inventory databases, payment and fulfillment systems, to reduce time to market and maximize profits for multi-channel sales. ChannelAdvisor`s customers and strategic alliances include West Marine, Memorex, Omaha Steaks, eBay, Yahoo! and Amazon Auctions. ChannelAdvisor Corporation is headquartered in Research Triangle Park, NC. For more information visit http://channeladvisor.com.
uBid, a majority-owned operating company of CMGI, Inc., is a leading retail auction and e-commerce marketplace that offers consumers and businesses three ways to buy and sell. The company`s Internet auctions feature a rotating selection of more than 12,000 products daily in 16 different product categories, providing consumers and small to mid-sized businesses with the opportunity to purchase a wide range of brand name merchandise, often at greatly reduced prices, through live-action bidding. Product categories include computers; computer peripherals; computer components; home office; housewares; sports and hobbies; jewelry and gifts; accessories; off-lease computers; consumer electronics; digital cameras and video; apparel and linens; home improvement; travel and events; collectibles; and everything else. In addition to uBid`s own auction listings or uBid Direct, uBid features uBid Preferred Partner auctions in which consumers will find products listed by uBid-approved businesses and backed by uBid or brand warranties. Users can also buy or sell products through uBid`s Consumer Exchange, in which consumers list their items for auction with no listing fee.
With more than 2 million registered users, uBid is committed to providing its customers with the highest quality auction experience on the Internet and offers supplier warranties on most consumer products. uBid also meets Better Business Bureau Online standards, which gives customers the confidence and security to bid safely online. For more information, visit the company`s Web site at www.ubid.com.