RealTime IT News

theglobe.com Launches Group Buying Club

Community site operation theglobe.com launched a group buying club powered by Accompany Inc.

The customized club, where prices drop as more people buy, is designed to leverage theglobe.com's network of interest-based communities.

"The group buying e-commerce model is tailor-made for globeclubs," said Bryan Wiener, general manager of theglobe.com. "For instance, members of an MP3 club used primarily to swap their favorite music files can bond together to dramatically lower the price of a Digital MP3 player."

Users have the chance to save on brand name items through group buys in such product categories as computers/hardware, electronics, entertainment, home and garden, software and sports and fitness.

There is a fixed buying cycle for each featured item in the club and users are kept aware in real time of the current price of the item and the current number of buyers.

As part of the agreement, theglobe.com's e-commerce unit will be supplying selected products to both theglobe.com's Group Buying Club as well as to Accompany's Get It Together Network.

Financial arrangements between the companies were not disclosed.

Accompany's Get It Together Network aggregates demand for products and services in real-time, pooling buyers from across the Web into real-time Buy-Cycles, where prices drop as more people join.