(BVQ.BE) Bidville Auction's Marketing Program Delivering Results; Online Auctions Sold Per Month Increase 22%
Business Editors/High-Tech Writers
CLEARWATER, Fla.--(BUSINESS WIRE)--Feb. 26, 2004--Bidville, Inc. (OTCBB:BVLE), a rapidly growing online auction company, announced today that recent marketing initiatives have resulted in significant increases to its online auction business. The Company has increased the monthly number of auctions sold by 22% since it launched an expanded marketing program in December. The program includes advertising through online marketing vehicles, such as Overture (Nasdaq:OVTI), The Excite Network, Lycos and Yahoo (Nasdaq:YHOO).
In addition, overall bidding activity has increased by over 16.5% since September 1, 2003. Online auctions, ie., listings have increased by approximately 12.7% since November 2003. The average merchandise value per sale has exponentially increased at a rate of over 14% per month. Due to the launch of an aggressive advertising campaign, membership growth has increased from 22 registrations per day to the current level of over 400 per day, with our mostly recent daily record exceeding 4,000 new memberships. Total membership has increased over 36% since August 31, 2003.
"We are pleased that our recent advertising initiatives have delivered such strong results," said Michael Palandro, CEO of Bidville. "Importantly, our advertising spending has delivered a significant return for our customers, as our recognized acquisition cost per member represents less one than half of our budgeted cost. We believe this expanded new membership base will ideally augment our total membership composition, continuing to increase listings and price per auctions sold, equating to greater revenues realized through our Final Success Fees."
The Company does not charge any listing fees and its Final Success and Enhancement Fees are up to 65% lower than eBay's (Nasdaq:EBAY). The Company is exploring a launch of "brick and mortar" product drop locations; in conjunction with the recently announced Letter of Intent to acquire 321 PLAY INC. This is another way it expects to differentiate itself from competitors.
Bidville was founded in 1999 as an online auction alternative to eBay. The Company provides unique user features, such as Watch List, Image Gallery and fixed price listing options. Bidville is headquartered in Clearwater, FL. For further Company and product information, please visit the website at: http://www.bidville.com. Additional information, including current financial data, is available in current Securities and Exchange Commission filings.
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
Shares of Bidville, Inc., are also quoted on the Berlin Exchange under the symbol BVQ. This quote can be found at www.berlinerboerse.de
CONTACT: Bidville, Inc., Clearwater
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