PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
UBid.com, a business-to-consumer auction site, is adding video to merchandise for sale on the site through an agreement with Logitech. The company believes videos add credibility to a seller.
UBid.com, a business-to-consumer auction site, is adding video to the merchandise listed for sale on the site through an agreement with Switzerland-based Logitech, the company announced today. Logitech will provide the video application as well as host the published videos through the recently formed Logitech Video Services group. Sellers can record up to one minute of video using most current web cameras or video recording devices.
"The addition of video makes Internet communication more immediate and real," said Bruce Friedricks, director of business development for Logitech`s Video Business Unit. "In the setting of an online auction, it can offer increased credibility and product demonstration power for the seller, and increased excitement and motivation for the buyer. "
Sellers upload the video file to uBid via seller tools. When building an auction, the seller will be prompted to add a picture or video. Prices range from $3 per video clip stored up to 30 days up to $10 per video clip stored up to 190 days. Logitech says it delivers videos in a way that ensures that consumers with both broadband and modem connections can view them. The video is progressively downloaded and starts to play while the rest of the file downloads, enabling the viewer to watch the first part of the video, while the remainder of the file continues to download, Logitech says.