March 28, 2000
NEXTAG LAUNCHES FIRST DYNAMIC PRICING EXCHANGE FOR CONSUMERS AND BUSINESSES
Exchange for over 3 million products and services provides the best place to buy and sell online
SAN MATEO, Calif. - March 28, 2000
NexTag.com (http://www.nextag.com) today launched the first exchange enabling a broader audience of consumers and businesses to take advantage of the company's highly successful dynamic pricing model. NexTag.com's Exchange marks the evolution of ecommerce from online auctions and reverse auctions to an exchange comparable to today's stock market. Using its patent-pending Exchange software, a network of distribution partners, and its own destination site, NexTag.com's B2B and B2C Exchanges provide buyers and sellers with more information and flexibility to compare and negotiate product prices at any time. Based on market conditions, buyers and sellers can instantly change the price at which they are willing to buy or sell.
"Exchanges represent the end game for ecommerce and integrate the benefits found in earlier ecommerce models such as auctions, reverse auctions, and fixed-price selling," said Purnendu Ojha, CEO of Nextag.com. "This dynamic pricing model provides buyers and sellers with unprecedented control and flexibility, giving them the ability to get a great deal within seconds."
Benefits to Buyers:
At NexTag.com buyers are in even more control of the process, purchasing from the seller they choose at the price they want to offer on over 3 million new and used products-all without having to pre-commit credit card information. Unlike other sites, NexTag.com enables buyers to instantly compare prices-including tax and shipping-between name-brand, small business, and individual sellers and obtain information on what other buyers are willing to pay for a product, providing them with the information they need to make good purchasing decisions.
Benefits to Sellers:
Unlike auctions, NexTag.com gives sellers more control of the process by permitting them to close a deal on their own terms within seconds and without predetermined time limits. Using NexTag.com's Exchange, sellers can instantly accept or reject offers, offer discounts automatically or manually, or list a product indefinitely until completely satisfied with the deal.
Benefits to Co-Branded Exchanges:
NexTag.com now enables any Web site to establish its own Exchange for free. Web site owners can personalize the appearance of their Exchanges and tailor them for specific categories of products while earning commissions for transactions. Enabling a site with a NexTag co-branded Exchange represents an opportunity to increase a site's stickiness, monitize its traffic and build brand loyalty and community.
Based in San Mateo, California, NexTag.com is a privately held company with the mission to create a network of exchanges to trade products and services. With its patent-pending technology, NexTag.com enables buyers and sellers to obtain great deals on millions of new and used products. Founded in 1998, NexTag.com is funded by Morgenthaler Ventures. To use the NexTag.com Exchange and find additional information about the company, visit www.NexTag.com.