buy.com(TM) Launches Online Auto Center
18 October 2000
buy.com(TM) Launches Online Auto Center
The Internet Superstore(TM) Expands Offerings to Its Nearly 3 Million
Customers Through Launch of First Trusted Partners Site
ALISO VIEJO, Calif., Oct. 18 buy.com , The
Internet Superstore, today announced the launch of its online Auto Center,
featuring links to some of Web's best automotive industry products and
services. At launch, the Automotive Center on the buy.com Web site will offer
links to automotive e-services from Carclub.com, a J.D. Power Club, the most
trusted source for information and savings for automotive buying and owning
decisions, CarsDirect.com, a leading direct online provider of new automobiles
and related products and services, eCoverage, Inc., an Internet company
focused on making every aspect of insurance efficient and easy, CarParts.com,
consumers' number one superstore for 1.5 million automotive products online,
iMotors.com, the Internet's first and only certified used car retailer and
Honda.com.
"Our auto center is a perfect fit for our business model, blending
commerce and advertising, designed to unlock the full value of our large
customer base and strong traffic volume, while maintaining a great no nonsense
shopping experience with excellent value and convenience," said Greg Hawkins,
president and CEO of buy.com. "The automotive industry is complementary to
our customer demographic, which is largely higher income males, ages 25-49."
About J.D. Power Clubs, Inc. and carclub.com, a J.D. Power Club
J.D. Power Clubs, Inc. educates consumers to help them make better
decisions and facilitates transactions through a network of participating
retailers committed to delivering quality service and savings. Carclub.com,
the first J.D. Power Club, helps vehicle owners shop for new and used
vehicles, facilitates the selection of financing and insurance options and
provides sources and savings for vehicle maintenance. Carclub's services are
accessible online and by telephone at 1-800-CARCLUB. Carclub.com, a J.D.
Power Club, may be found at http://www.carclub.com and http://www.jdpower.com.
About CarsDirect.com
CarsDirect.com (http://www.carsdirect.com) is a leading direct online
provider of new automobiles and related products and services, such as loan
and lease financing and extended warranties. CarsDirect.com allows consumers
to research, price, configure, order, purchase and finance a vehicle online.
CarsDirect.com offers an online shopping experience that features competitive,
up-front, no-haggle pricing on new vehicles. The company sources vehicles
through a priority dealer network of more than 2,500 automotive dealer
franchises nationwide.
About eCoverage
eCoverage (http://www.ecoverage.com) makes every aspect of personal insurance
efficient and easy, offering its customers the speed, simplicity, savings and
service that savvy Internet buyers have come to expect. The company was the
first to offer complete insurance service online From Quote to Claim(SM) and
the first to offer an insurance program developed exclusively for the Internet
and its users. eCoverage's headquarters is located in San Francisco with an
around-the-clock customer service center located in Pleasanton, California.
For more information, please contact Jon Kelly, Vice President of Marketing,
at 415-934-6000.
About CarParts
Founded in 1997, CarParts is the e-commerce leader in the automotive
aftermarket, providing supply chain management solutions to manufacturers,
warehouse distributors, jobbers and installers. In April 1999, the company
launched its online automotive superstore for consumers, http://www.CarParts.com,
offering more than 1.5 million automotive products including replacement
parts, performance products and accessories. CarParts.com is now ranked
number one by consumers and all major net ratings services for sales, service
and unique visitors. The company's remarkable growth has placed it among the
top ten of ALL auto-related web sites worldwide and earned it "Best of the
Web" awards for both consumer and commercial e-businesses by Forbes magazine.
CarParts, headquartered in El Segundo, California, offers the aftermarket and
driving public the convenience of online shopping for automotive products from
more than 600 major suppliers.
About iMotors:
iMotors was launched in September 1999 as the Internet's first and only
used car company, allowing customers to buy thoroughly tested, inspected and
certified used vehicles entirely online. iMotors is a privately held company,
backed by a renowned group of investors with successful track records at
leading land-based retail and internet/e-commerce businesses. For additional
information, visit http://www.imotors.com or call 888-IMOTORS (466-8677).
About buy.com
buy.com (Nasdaq ticker symbol: BUYX), a leading Internet superstore and
low price leader, offers its nearly 3 million customers 950,000 SKUs in a
broad range of categories including computer hardware and software,
electronics, books, golf, sporting goods, a small business superstore and a
lot more. Individuals and businesses can shop at buy.com 24 hours a day,
seven days a week. buy.com, the recipient of a four-and-a-half star rating
from BizRate.com, was recently named "Best of the Web" in the computer and
electronics category by Forbes Magazine (Spring 2000) and #1 on the Gomez
Advisors Internet Computer Scorecard for the third time (Summer 2000).
buy.com, founded in June 1997, is located in Aliso Viejo, California and has
expanded Internationally into Canada, the United Kingdom and Australia. For
more information visit our Web site at http://www.buy.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
This release may contain forward-looking statements that involve risks and
uncertainties, including without limitation, technical risks associated with
launching a new store, working with a variety of automotive-related products
and services, and launching and building consumer awareness for a new product
category. Additional important factors, which could cause actual operating
results to differ materially from those in the forward-looking statements, are
detailed in filings with the Securities and Exchange Commission made from time
to time by buy.com, including its Registration Statement on form S-1, as
amended, filed with the Securities and Exchange Commission on October 27,
1999, and its final prospectus related to its initial public offering filed
with the Securities and Exchange Commission on February 7, 2000 and its
quarterly report on form 10-Q filed from time to time. Some of these factors
include our dependence on third parties to provide distribution and
fulfillment services to us that may not be available in the future, our new
and unproven business model, the cost and risk of expanding into new product
categories, our dependence on the continued growth of the Internet as a viable
commercial marketplace and intense competition. buy.com undertakes no
obligations to release publicly any revisions to any forward-looking
statements to reflect events or circumstances after the date hereof to reflect
the occurrence of unanticipated events.