USA: Bidpath Stirs Up Industrial Food Equipment Auctions Through Strategic Alliance with ecFood.com
ecFood.com joins an expanding list of Bidpath distribution partners who are increasing global customer outreach to buyers and sellers using the company's patent-pending Internet solution.
According to the terms of the agreement, Bidpath food industry auction listings will be displayed by appropriate industrial equipment categories on ecFood.com's Web site. The partnership enhances opportunities for Bidpath's customers who specialize in the disposal of surplus food industry equipment.
"More and more food industry companies are looking to the Internet to buy and sell surplus assets. ecFood.com is the leading B2B food manufacturing online auction marketplace," said Scott Laster, CEO and president of Bidpath. "With Bidpath auction listings, ecFood.com offers greater value and variety to buyers."
ecFood.com was named a B2B "Best of the Web" site by Forbes Magazine in July 2000. The company was also named a "Company to Watch" by both BancBoston Robertson Stephens (NYSE:FLT), PaineWebber, and Goldman Sachs (NYSE:GS).
"We need to be able to provide our customers with the industrial tools they need to remain competitive in today's demanding food industry," explained Dave Laukat, CEO of ecFood.com. "Bidpath provides our customers with choice and quality auction assets that have never been available to them before."
The $200 billion annual U.S. traditional auction market has had difficulty accessing the Internet due to the time consuming process of listing items on the Web. Now, with Bidpath's industry-specific solution, auctioneers have proprietary technology and a comprehensive network of online auction powerhouses to distribute their inventories.
By using the Bidpath system, auction companies are ten times more efficient and have immediate access to distribution on the Internet. Bidpath simplifies the process through the company's patent-pending firmware that comes loaded on a special digital camera. The information is later downloaded to a laptop computer onto Bidpath software. These listings are transferred to Bidpath and automatically distributed by category to Bidpath's most appropriate online auction partners.
ecFood.com's Web-based solution is based on scalability, efficiency and optimization of a purchasing system. In addition to purchaser auctions, the company offers consulting, demand aggregation, specification management, seller auctions, storefronts, certification services, and a product catalog. Advantages and savings realized by ecFood.com clients include: large purchaser networks; lower transaction costs; faster direct access to competitive information; anonymity and security, and an increase in convenience, speed and quality. For more information, visit www.ecFood.com or call 408/566-6130.
Bidpath Corporation (www.bidpath.com) is building a bridge between bricks-and-mortar auction companies and business-to-business and business-to-consumer online auction powerhouses. Bidpath has built a comprehensive solution, to give traditional auction companies the tools they need to bring Internet efficiencies to the world of real auctions as well as taking a long labor-intensive process and making it easy. Bidpath has tapped the power of the Internet through a wide array of online auction sites to bring together existing communities. Bidpath has first mover advantage in the large, fragmented and self-sustaining marketplace of traditional auctioneers. Bidpath is headquartered in Bellevue, Washington. The company completed its Series A funding round in December 1999. Timberline Venture Capital, the Northwest affiliate of Draper, Fisher, Jurvetson (www.dfj.com) was the lead investor. Bidpath Corporation is also partnered with Amazon.com LiveBid Auctions (Nasdaq:AMZN), Kodak (NYSC:EK), bLiquid.com, GSNet, a Trader.com company (Nasdaq:TRDR), Rabin Brothers and Associates, Cunningham and Associates, John Roebuck & Associates and Auction Systems.
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