Accompany Successfully Closes World's First Group Buy-Cycle(SM) for Cars
9 March 2000
Accompany Successfully Closes World's First Group Buy-Cycle(SM) for CarsToyota Camry Group Buy a Hit with Consumers and Dealers Alike - Customers Team Together to Drive Down Price Within First Week of Promotion SAN FRANCISCO, March 9 Accompany, Inc., (http://www.accompany.com) the pioneer in group buying on the Web, announced today that it has successfully sold out its promotional offering of Toyota Camry 2000 LEs. With its network of over 20 partner sites, Accompany tested the waters of the automotive space last week by offering a special promotion for ten new Camrys, in conjunction with Torrance Toyota in Torrance, CA and Piercey Toyota in San Jose, CA. By empowering customers to work together to achieve value through volume, Accompany proved a natural fit between the group buying model and online automobile sales. Every buyer in the Toyota Camry Buy-Cycle was able to purchase the car at approximately $500 below listed dealer cost, because of Accompany's unique group buying value proposition. In addition to the ten buyers, hundreds of interested car shoppers across the US contacted Accompany in response to this offering, attracted by both the prospect of unmatchable savings and the freedom from haggling over the purchase price at a dealership. Accompany's Toyota purchasers have responded enthusiastically to their savings, as well as the ease of their online buying experience. "Group Buying for cars was a natural fit," noted Accompany customer Diane DeMartini. "No hassle, no haggle, and great upfront pricing that I could never have gotten on my own. Thanks to Accompany, now I have a new Toyota Camry!" Accompany launched this promotional Buy-Cycle to gauge customer interest in participating in group buying for cars. With its overwhelming response, the Buy-Cycle, slated to stay open for two weeks, closed out in under a week. "We are just blown away by the success of the promotional Buy-Cycle we launched for Toyota Camrys," said Jim Rose, CEO and co-founder of Accompany. "We now have the learning to look seriously into expanding our product base to include higher ticket items like automobiles, where customers stand to derive the greatest value from buying together." About Accompany, Inc. Founded in 1998, Accompany, Inc. created the Get It Together Network, the Web's first group buying network that aggregates demand for products and services in real-time. Using its unique patent-pending Demand Coordination(SM) technology to empower communities and suppliers with private-branded group buying, the Get It Together Network pools buyers from across the Web into real-time Buy-Cycles, in which prices drop as more people join. The Get It Together Network revolutionizes dynamic trade by affording consumers and small businesses alike the purchasing advantage traditionally reserved for large organizations that buy in volume. Accompany, Inc. is headquartered in San Francisco, with its development center in Toronto, Canada. NOTE: ACCOMPANY, GET IT TOGETHER NETWORK, DEMAND COORDINATION, and BUY-CYCLE are service marks of Accompany Inc. Other names mentioned may be trademarks or service marks of their respective owners.