Zoovy, Inc. and uBid Announce Strategic Agreement
- Zoovy merchants gain increased exposure through uBid`s Consumer Exchange
Marketplace -
SAN DIEGO, June 13, 2002 -- Zoovy, Inc., an auction management and e-commerce
company that empowers businesses to reach dynamic online markets and increase
sales, finalized an agreement with uBid, a leading retail auction and
e-commerce marketplace and majority-owned operating company of CMGI, Inc.
(NASDAQ: CMGI). The agreement enables merchants using Zoovy to effortlessly
sell products at uBid, drawing exposure from a sophisticated user base.
"This agreement provides our merchants with an incredible opportunity
to maximize their online presence," said David Steel, CEO of Zoovy. "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. There was no question in our mind that uBid was a `must have`
for our merchants."
As e-marketplace experts, Zoovy 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, thus significantly increasing inventory turnover.
Christian Feuer, uBid president and chief executive officer, added "uBid`s
relationship with Zoovy furthers our goal to offer exceptional value to
our customers as we are able to offer them even more brand name products
to choose from, while providing Zoovy`s merchants with access to uBid`s
sizable and targeted audience. Zoovy`s merchants have already begun utilizing
our services and have told us that they appreciate the ease of selling
products through uBid`s Consumer Exchange where, no listing fees are charged."
About uBid
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. 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 3.5 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.
About Zoovy, Inc.
Zoovy Inc. provides e-commerce software and services that incorporate
a multi-channel sales strategy to reach more markets and drive more sales.
Designed for high volume selling, Zoovy`s products integrate with dynamic
online marketplaces that include popular websites and auctions. Zoovy
offers complete online storefronts and automated auction management tools
for both small merchants and large wholesalers/retailers. For more information
, call 877-966-8948, or visit www.zoovy.com.
This release contains forward-looking statements which address a variety
of subjects including, for example, the expected benefits of the agreement
with Zoovy and the expected ability of uBid to auction products. The
following important factors and uncertainties, among others, could cause
actual results to differ materially from those described in these forward-looki
ng statements: uBid`s success depends on the continued and increased acceptance
of its website and the Internet as a medium; consumer preferences for
the products offered by uBid may change rapidly; uBid`s technologies may
not successfully interoperate with those of third parties; and increased
competition and technological changes in the markets in which uBid competes.
For a detailed discussion of these and other cautionary statements, please
refer to CMGI`s filings with the Securities and Exchange Commission, including
CMGI`s most recent Quarterly Report on Form 10-Q.
###
CONTACT:
Glen Dobi
Chief Marketing Officer
Zoovy, Inc.
877-966-8948 x102
glen@zoovy.com
http://www.zoovy.com
Valerie Chereskin
Chereskin Communications
760-942-3116
valerie@chereskincomm.com
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