FOR IMMEDIATE RELEASE: June 11, 2001
Company Contact:
Sara Thezan
816.448.4811
sara.thezan@escout.com
Largest Seller of Office Products will Supply B2B Network
LEE`s SUMMIT, Mo. -- June 11, 2001 -- eScoutSM, a leading e-business
solutions provider for mainstream companies, today announces that Office
Depot Inc. (NYSE:ODP), the world`s largest seller of brand name office
products, is now "live" as a supplier on eScout`s MarketPlace of 50,000
buyers.
Through eScout MarketPlaceSM, suppliers like Office Depot are able to lower
transaction costs, implement automated ordering processes and gain exposure
to thousands of independent businesses. Nearly 100 suppliers and more than
14,000 bank-sponsored businesses and 50,000 buyers belong to eScout`s
trusted network where they have access to more than five million products
and services in virtual inventory.
"The decision to partner with eScout`s MarketPlace underscores Office
Depot`s commitment to provide e-commerce solutions for our
business customers," said Monica Luechtefeld, executive vice president
e-commerce of Office Depot. "Like eScout, Office Depot`s success is driven
by an uncompromising commitment to customer service. eScout will allow us
to better service our customers by reaching them where they are already
doing business."
One of the unique attributes of the eScout network is its membership
structure. eScout has teamed with regional and community banks and other
organizations that have existing, trusted relationships with millions of
mainstream companies. This is how eScout created a time-proven online
marketplace whereby members confidently buy and sell over the Internet with
credible and trustworthy organizations.
"Our announcement today illustrates eScout`s continued growth and dedication
to providing a variety of goods and services for our members," said Sandy
Kemper, founder and CEO of eScout. "Suppliers are attracted to eScout
because we enable them to deliver consistent, flexible and cost-effective
products and services, while building long-term relationships with a large
community of buyers."
The eScout MarketPlace is one of the most active marketplaces on The Global
Trading WebTM, the world`s leading commercial organization focused on the
development and expansion of international business-to-business e-commerce.
About eScoutSM
eScoutSM is a leading e-business solutions provider for mainstream
companies, utilizing the Internet to provide broader business opportunities,
increased operational efficiencies, reduced costs and managed business
processes. eScout`s national network of 1,300 community and regional banks
represents 15 percent of the nation`s banks and more than $360 billion in
assets. More than 14,000 bank-sponsored businesses and 50,000 buyers form
eScout`s online network, where companies transact business through more than
100 eScout-powered private exchanges. The interoperability of these
exchanges creates one of the most liquid marketplaces on The Global Trading
WebTM. The eScout ACH system and payment gateway allow payment transactions
to be cleared seamlessly and electronically. Additionally, eScout provides
business applications and a rich collection of tailored information sources.
eScout raised $57.5 million in capital from several venture capital firms
including: Mayfield Fund; Oak Hill Venture Partners, L.P.; Citizens
Financial Group, Inc.; Harris Bank (NYSE: BMO); Golden State Bancorp Inc.
(NYSE: GSB); and Commerce One (NASDAQ: CMRC). eScout is headquartered at
850 NW Chipman Road, Lee`s Summit, MO 64063. Visit http://www.escout.com or
call 1-888-SCOUT4U for more information.
About Office Depot
As of March 31, 2001 Office Depot operated 824 office supply superstores in
the United States and Canada, in addition to a national business-to-business
delivery network supported by 25 delivery centers, more than 60 local sales
offices and eight regional call centers. Furthermore, the Company had
operations in 16 countries outside of the United States and Canada,
including 23 office supply stores in France, not including store closings
announced on January 3, 2001, and seven in Japan that are owned and operated
by the Company; and 97 additional office supply stores under joint venture
and licensing agreements operating under the Office DepotŪ name in five
foreign countries.
The Company also operates an award-winning U.S. Office DepotŪ brand Web site
at www.officedepot.com where customers can access Office Depot`s low
competitive prices seven days a week, twenty-four hours a day, and it
operates www.officedepot.co.jp in Japan and www.officedepot.fr in France as
well as VikingŪ brand Web sites at www.vikingop.com in the United States,
www.viking-direct.co.uk in the United Kingdom, www.viking.de in Germany,
www.vikingdirect.nl in The Netherlands, www.vikingop.it in Italy,
www.vikingop.com.au in Australia, www.vikingop.co.jp in Japan and
www.vikingdirect.fr in France. Office Depot`s common stock is traded on the
New York Stock Exchange under the symbol ODP and is included in the S&P 500
Index. Office Depot is an Official Sponsor of the 2002 U.S. Olympic Team.
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