iSalvage Chosen as Best of the Web by Forbes.com
12 July 2000
iSalvage Chosen as Best of the Web by Forbes.com
NEW YORK--July 12, 2000--iSalvage.com, an online business-to-business marketplace connecting suppliers and buyers of recycled and remanufactured parts, today announced it has been named by Forbes.com as one of the best Automotive B2B Web sites. The Forbes article, http://www.forbesbest.com/, highlights 200 of the most promising Internet B2Bs in 25 industries. iSalvage was top-rated by Forbes based on its business strategy and execution, financial staying power, and Web site."We're pleased to have received this recognition by Forbes and to be in the company of the other top automotive B2B players named on the list," said Jeff Stotland, CEO, iSalvage. "It is satisfying that the business and investment community recognize the soundness of our strategy and the huge growth potential of our business."
Following a three-month pilot program, iSalvage officially launched its East Coast service on June 12, 2000, with 41 registered suppliers and more than 300 registered buyers. New promotional campaigns, such as offering all customers a $100 rebate on every order of $200 or more throughout the month of July, is helping iSalvage to increase its transactions and customer base. Expanding its service nationally in October of this year, iSalvage is revolutionizing the recycled parts market.
According to Forrester Research, 68 percent of sales for automotive materials will be conducted over the Internet by 2004, which translates to about $411 billion in industry spending online.
About iSalvage.com
iSalvage is an online business-to-business marketplace connecting buyers and suppliers of recycled and rebuilt parts, with its initial focus on the automotive market. Headquartered in New York City, iSalvage was founded in 1999 and received funding from Sentinel Capital Partners and divine interVentures. iSalvage is now available to all commercial auto buyers and suppliers on the east coast of the United States. The company will expand its services to the rest of the country in the next few months. For more information, visit http://www.isalvage.com.