RealTime IT News

KING, Photo-Me to Cast Global Public E-Vending Net

[Mississauga, CANADA] KING Products and Photo-Me International (PMI) have formed a joint venture, VendEstreet, to install and operate a global network of e-vending machines in public areas delivering online advertising, products and services.

KING and PMI have contributed equally from their own funds and are equal partners in the new company.

VendEstreet will provide an Internet portal allowing online management of content for video advertising and services offered on the new e-vending machines, with many links to image-based services such as photography, makeover and video mail.

VendEstreet has also completed market analysis towards other services, such as ticket printing, e-commerce secure payment and entertainment applications. Revenues from the e-vending network will come from the sale of services and from video advertising. User payment options will include cash and credit card.

Such online delivery, avoiding the necessity to finance, store, and distribute inventories (unlike, for example, the Amazon.com model) and assuring immediate payment, is an integral focus of VendEstreet's strategy.

Installation of the first 1,000 machines is slated to begin in France in the third quarter of 2001. Occupying little floor space, many will be located adjacent to PMI photobooths, in high traffic areas.

Business case analysis for installations in the USA and elsewhere in Europe will be completed during the first quarter of 2001.

KING Products (CDNX:YKK) provides access to the Internet and online services from public areas, using interactive multimedia terminals and payphones.

It is a Canadian subsidiary of the Swiss telecom technology company, Ascom Holding, which had 1999 revenues of more than US $2 billion with 11,000 employees.