Thursday December 9, 9:57 am Eastern Time
Company Press Release
Bidhit.com Tops 3.2 Million PageViews in November
Online Auctioneer Reports over 60% Growth since September
BOTHELL, Wash.--(BUSINESS WIRE)--Dec. 9, 1999--Bidhit.com Inc. (OTCBB:BHIT
- news), a rapidly
growing online auction company, announced today that its site traffic
grew to over 3.2 million page views in November compared to 2 million in
September, an increase of over 60% in 60 days and an increase of over
350% since June 30.
In achieving this mark Bidhit.com continues to fulfill on its promise
of continuing and sustainable growth.
``Our Bidhit.com awareness campaign continues to pay stellar
dividends'', stated Tim Black, President and CEO of Bidhit.com. `` We
are committed to generating increased traffic to our site and in
building awareness of the Bidhit.com brand. Its gratifying to see that
our hard work is being rewarded.'' Mr. Black continued, `` This has been
a very exciting two weeks in the life of our Company. As announced last
week, Frank Mersch joined our Advisory Board. It is a noteworthy
accomplishment to have an individual of Frank's stature join our team.
Earlier this week we announced that Hollinger International Inc. (NYSE:HLR
- news), a global
newspaper publishing company acquired a minority stake in Bidhit.com.
They will also be working with us in a consulting capacity. We look
forward to expanding our working relationship with Hollinger and the
potential it holds as we move forward into the new year. We now follow
up with today's announcement of exponential growth in our site traffic.
These are significant achievements, underscoring the soundness of our
business strategy as well as being a vote of confidence for the vision
we have for our Company.''
Bidhit.com attributes the consistent growth in site traffic to the
timely execution of its strategic marketing plan. The Company is on a
path where higher awareness, increased transactions and revenue growth
are the milestones against which it measures its progress.
About Bidhit.com
Bidhit.com is a real-time online auction company which differentiates
itself from its competition by its strong customer care focus and
philosophy. The company provides its more than 100,000 registered users
with the opportunity to bid on quality brand name products in a number
of sought after product categories such as computers and peripherals,
camera equipment, sporting goods, household goods, home electronics and
sports memorabilia. Bidhit.com continues to grow through expanding its
solid operational infrastructure, leveraging strategic marketing
relationships and focusing on customer care and protection. The
Bidhit.com experience includes pre-screened vendors, the safety of
credit card buying, live online customer service, warranty protection
and extended service plans. Bidhit.com will continue to leverage this
successful strategy to reach its goal of building one of the leading
online auction brands.
About the Online Auction Segment
According to Forrester Research, 52% of online business is expected
to be transacted via auctions by 2002, (Reported in Business 2.0, June
1999). The success of online auction sites such as eBay,Inc. (Nasdaq:EBAY
- news), uBid,Inc. (Nasdaq:UBID
- news) and Onsale Inc.
(Nasdaq:ONSL - news)
has been well documented. Bidhit.com will be focused on growing its
online auction presence in attracting and sharing the enormous audience
for online auctions.
On Behalf of the Board of Directors,
Timothy J. Black, President and CEO Bidhit.com
`Safe Harbor' statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward looking statements
that are subject to risks and uncertainties, including, but not limited
to, the impact of competitive products and pricing, product demand and
market acceptance, new product development, reliance on key strategic
alliances, availability of raw materials, the regulatory environment,
fluctuations in operating results and other risks detailed from time to
time in the company's filings with the Securities and Exchange
Commission.
Contact:
Park Avenue Capital Corp.
800/953-8711
bhit@parkcap.com
|
OUR
PICKS
NewsLetter