LibertyOne to Develop Australian uBid Site
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LibertyOne Thursday acquired the exclusive right to bring American auctioneer uBid into the Australia and New Zealand markets, as well as the option to establish uBid-powered auction sites in nine other Asian Pacific countries.
The Australian version of uBid model will focus on business-to-consumer and business-to-business clients. uBid will not be competing directly with the crowd of consumer-to-consumer auction sites recently launched in Australia, according to Warren Lee, LibertyOne's chief executive officer.
"In fact, uBid's focus on providing an online auction environment for established business vendors will actually complement these sites," Lee said. "uBid in Australia will allow consumers and businesses to bid for goods and services supplied by reputable vendors in the areas of computer equipment, consumer electronics, homewares and, ultimately, a range of other categories."
Lee said acquiring the uBid rights met two of LibertyOne's major strategic objectives: To import proven Internet brands and to acquire the rights to for regional development.
LibertyOne expects the Australian uBid service to start by October.
LibertyOne Limited is Australia's first publicly listed Internet media company. The company also provides Web solution services in the region.