Bartercard Launches Online Shopping Mall Ahead of Public Float

Trade exchange Bartercard
International
has added to its e-commerce portal with the launch of
its Internet Shopping Mall, ahead of the company’s planned float on the
Australian Stock Exchange later this
month.

Bartercard intends to create an electronic marketplace for cashless
barter transactions, and will use proceeds from the share float to fund
further software development and expansion of the Internet portal.

Bartercard executive chairman Wayne Sharpe said the mall is an
industry first by providing a one-stop shop allowing Bartercard members
to conduct business with both Internet-enabled members and non-Web
users.

“Members will be able to list their products, services or special
promotion on a daily basis if they wish, both directly via the Internet
or by sending their details to our staff, who will then update their Web
site,” said Sharpe.

“Not only will members have the convenience of shopping whenever they
wish in a catalog style, itemized shopping environment, but they will
also have access to thousands of products and services from Bartercard’s
members around the world,” he said.

The online shopping mall is the latest addition to the Bartercard Web
site’s e-commerce features, which include an online auction, online
directory, travel, real estate, worldwide news service and franchizing
information.

Sharpe said Bartercard has received 2,300 applications ahead of its
intended float, with a further 2,500 copies of the company prospectus
downloaded from the site and 5,000 mailed requests.

“Unlike many of the ‘dot.coms’ that have recently floated, Bartercard
is an established business with a business model that has worked in many
countries and has a sustained record of profitability and growth,” he
said.

Bartercard expects to be the first trade exchange in the world to
list on a stock exchange using trade dollars for a portion of the offer,
and forecasts a profit for 2001 an AUS$7.1 million (US$4.26 million).

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