FairMarket to Support eBay in Rollout of Online Loyalty Program
WOBURN, MA Feb. 21, 2002 FairMarketsm, Inc. (Nasdaq: FAIM), today announced that it is providing the private-label promotional technology platform behind the Burger King online loyalty program, announced with eBay in November.
"This is a terrific example of the flexibility and power of the FairMarket platform, and is an extension of our existing relationship with eBay," said N. Louis Shipley, vice president of sales and marketing for FairMarket.
The Burger King loyalty program enables BURGER KINGŪ customers to purchase certain food and drink items from Burger King restaurants and earn points which can then be used to bid on rewards.
"FairMarket`s points-based promotional platform offers opportunities for brands, such as BURGER KINGŪ, to engage the active eBay community," said Brian Cowley, eBay vice president.
FairMarket`s three-year agreement with eBay provides for the payment to FairMarket of implementation and quarterly fees that FairMarket expects could represent in excess of 10 percent of FairMarket`s quarterly revenue beginning with the second quarter of 2002. The agreement is subject to a one-year extension and to early termination in certain events, including any termination of the related agreement between eBay and Burger King.
About FairMarket
FairMarket provides technology and services that help businesses harness online efficiencies to speed the rate of sales and maximize price margins on excess inventory. FairMarket`s customers include Dell, CompUSA and SAM`S CLUB. Headquartered in Woburn, Mass., FairMarket also has offices in the U.K. The company can be reached at 800-531-7871 or on the Web at www.fairmarket.com.
FairMarket is a registered service mark, and the FairMarket logo is a service mark, of FairMarket, Inc. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
This press release contains information about future expectations, plans and prospects of FairMarket, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including but not limited to market acceptance of FairMarket`s online auction and other e-commerce services; growth of the market for dynamic e-commerce services; the competitive nature of the online markets in which FairMarket operates; economic conditions; FairMarket`s ability to generate significant revenue to reach profitability; FairMarket`s ability to attract and retain qualified personnel; FairMarket`s ability to retain existing customers and to obtain new customers; the operation and capacity of FairMarket`s network system infrastructure; FairMarket`s ability to expand its operations in its geographic markets and the currency, regulatory and other risks associated with doing business in international markets; FairMarket`s limited operating history; and the other risks and uncertainties discussed under the heading "Factors that May Affect Results of Operations and Financial Condition" in FairMarket`s Annual Report on Form 10-K for the year ended December 31, 2000 and other reports filed by FairMarket from time to time with the Securities and Exchange Commission. FairMarket assumes no obligation to update any of the information included in this press release.
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