In its second-largest acquisition, Amazon buys the company for $970 million.
Altura, which develops e-commerce shopping solutions for catalogers, is launching a strategic alliance with eBay to make closeout, distressed and overstock mail order and catalog products available at eBay.
Altura International, which develops e-commerce shopping solutions for catalogers, announced today that it is launching a strategic alliance with auction site eBay to allow its 400 cataloger customers to sell closeout, distressed and overstock products on eBay.
Altura says it will provide merchandise from its merchant partners in the catalog industry to the eBay marketplace through its international house brand, CatalogCity.com. Altura will list the catalogers’ products on the eBay site and will bring winning bidders to complete the transactions on CatalogCity.com.
Altura expects to bring about 50 merchants to eBay during the launch phase of the alliance, including Alsto`s, San Francisco Music Box Co., DiscoveryStore.com and Hello Direct. Following the launch, Altura plans to provide the new service to all its merchant partners and have them selling on eBay by the end of the year.
In addition, CatalogCity.com and dozens of other malls in the Altura Network will have tabs to promote the eBay Marketplace where consumers can both bid on and buy all products listed on eBay.
“We have integrated the Altura technology with the eBay API to provide catalogers with easy access to the world`s largest online marketplace,” Lee Lorenzen, president and CEO of Altura International said. “Catalogers will now have a huge market of enthusiastic buyers for their closeouts, overstocks, and distressed merchandise. This means our merchants can turn inventory that might normally yield only a few cents on the dollar from a liquidator into a profit center by using eBay as an additional sales distribution channel."
Founded in September 1997 and partially funded by Bill Gates, Yahoo, InfoSpace, and Amazon.com, Altura International builds and manages custom e-commerce shopping solutions for the largest web portals, Fortune 500 companies, and major merchants in the mail order and online catalog businesses.
Altura has deployed over 50 shopping sites, including those for such companies as AOL, Yahoo, CBS Sportsline, and MasterCard.