VICTORIA, British Columbia, July 5, 2000 (PRIMEZONE) -- Shares in Worldbid.com will begin trading July 6, on the NASD OTCBB under the symbol WBID.
Worldbid.com is the first e-commerce site of its kind to be publicly traded. Worldbid.com is a business-to-business trade site that brings together buyers and sellers from around the world for interactive trade.
In order to secure investor confidence, the multi-industry trade portal ensured it had an established user base and a strong business plan before being traded publicly. The site currently provides access to over $1 trillion in active buy and sell leads, and 1,000 unique leads are posted on the site every day, the average value of which is estimated to be $2 million.
The site hosts more than 1,000 distinct product and service verticals, allowing a multitude of companies from 100 countries around the world to come together on a single platform.
Twenty thousand businesses worldwide are currently using the site and 100 new users register each day. Membership provides access to a comprehensive business network: trade partner matching; instant e-mail trade notifications; on-line auction; company website and catalog building; real-time trade news; and trade document posting.
According to CEO, Scott Wurtele, the company is doing the right thing at the right time. "Global business is quickly moving in the direction where Worldbid.com has its greatest strengths - instant access to new markets, interactive trade, and extensive international reach." Mr. Wurtele says the company plans to build on its strengths to maximize its value to its investors, its users, and to the global trade community.
Worldbid has established an innovative partner program, www.worldbidpartners.com. A growing international network of affiliate regional sites built in local languages (Spanish, French, German, Italian, Japanese, Korean and Chinese) is designed to create exponential growth for the company.
Low overhead, a strong business plan, and proprietary software (patents pending), ensure that Worldbid.com will be one of the more robust and enduring Internet companies in the high-tech B2B market.
This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties (see the Company's reports filed with the SEC). The Company assumes no obligation to update the information contained in this news release.