CBQ Inc. Acquires Stake in Net Access Exchange Inc.
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Dallas-based CBQ Inc. said that its wholly owned subsidiary, CyberQuest Inc., has acquired, through an exchange of stock, an interest in an Internet access and advertising company, Net Access Exchange Inc., as part of its e-commerce initiative.
CyberQuest, developer of http://www.bid4it.com, is an Internet market-maker. Using patent-pending proprietary software, CyberQuest has created a virtual, Internet-based marketplace based on the principles of securities trading. Financial specifics of the investment were not disclosed.
Like the NASDAQ and NYSE stock exchanges, the company's patent-pending CyberMarketMaker integrates the best features of securities trading and an auction market. Bidding activity is continually analyzed and asking prices moved up or down in response to market activity. When a "bid" and "ask" match, the transaction is electronically completed, and the product is ordered and shipped to the buyer with instant notification to all parties.
Net Access Exchange, a start-up company, plans to offer free Internet access and e-mail to users in the U.S. in exchange for viewing advertisements. Net Access Exchange will use the Ericsson Network Intelligence, "Internet Advertiser" application, with enhancements and modifications of its own design. Under the Y-PAY brand, Net Access Exchange plans to serve rich-media interactive advertising and other services. to its subscribers.
"This capability will enable our advertising customers to present targeted advertisements to the appropriate audience at the most suitable time. If radio and TV are free and you see ads, then why pay for Internet access and see ads? At least get ads that may interest you," said Michael L. Sheriff, founder of Net Access Exchange.
Ericsson Network Intelligence, a supplier of intelligent network systems, launched Internet Advertiser, an intelligent network application that distributes targeted advertising to Internet users, in October 1998.