“uBuy It
Now” Allows Consumers to Purchase Brand Name Items at a Fair Price,
Provides Sellers a Convenient Method to Sell
Items at Specified Price
CHICAGO, IL – February 25, 2002 – uBid.com, a leading retail auction and e-commerce marketplace and majority-owned operating company of CMGI, Inc. (NASDAQ: CMGI), today announced the launch of a new fixed price feature called “uBuy It Now,” allowing consumers to complete purchases on brand name items at a fixed price without having to wait for an auction to end, while giving sellers an easy and convenient method to present items for sale at a specific price.
“uBuy It
Now’ is the next step in uBid’s evolution and illustrates
the opportunity for growth within the uBid business model,” said Tim
Takesue, acting CEO of uBid. “We are
excited about this feature as it allows us to target those shoppers only
interested in straight sales, while also providing our current members with the
added benefit of getting a product at a fair price or the option of selling a
product at a specified price."
For
uBid’s community of more than 3 million registered users, “uBuy It Now” extends
the online shopping experience, allowing consumers to buy items quickly, easily
and conveniently.
The “uBuy
It Now” feature represents an even faster way to complete sales at a guaranteed
price not only for uBid’s vendors, but consumer partners as well. And, unlike other leading auction sites,
uBid Preferred Partner and Consumer Exchange sellers can take advantage of the
“uBuy It Now” feature free of charge.
An icon
located next to the auction listing will easily identify items that feature the
“uBuy It Now” purchase option. Starting
today, consumers logging on to uBid will see items listed three different ways:
·
At a
fixed price, allowing buyers to purchase a product outright;
·
In traditional
auction format, enabling competitive bidding; or
·
For
both a fixed price and auction sale, enabling users to purchase the product at
a specified price or to continue bidding on the item. If a buyer selects “uBuy
It Now,” the selection is accepted as a permanent winning bid, disabling other
users from outbidding the “uBuy It Now” price.
“uBuy It Now” is currently
available on uBid Direct auctions. The
feature will be offered to uBid Preferred Partner and Consumer Exchange
auctions beginning next month.
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. Product categories include computers; computer peripherals; computer components; home office;
housewares; sports and hobbies; jewelry and gifts; accessories; off-lease
computers; consumer electronics; digital cameras and video; apparel and linens;
home improvement; travel and events; collectibles; and everything else. 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 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.
uBid and uBid.com are
trademarks of uBid, Inc. All other
products and services mentioned may be trademarks or service marks of their respective owners.
CONTACT:
Denise Mancini
Manager, Public Relations
773-272-4562