Claims Ten Million Transactions

Web currency specialist
says it has recorded its 10 millionth transaction between consumers and

With over 250 million beenz in circulation, the company says it is adding
between 3000 and 4000 users a day and is fast approaching 200,000 consumers
in all.

“The transaction rate is the most important statistic to our business
because it
measures the level of activity between beenz merchants and consumers,” said
Philip Letts, chairman and CEO of

“Ten million transactions is an astounding amount of activity at our stage,”
added Letts, whose company was launched just seven months ago.

Although the figures may not be directly comparable, it took
eBay three years to reach its 10 millionth auction, while
E*Trade announced recently that it completed 5.1 million transactions
in its most recent quarter.

Recent agreements between and merchant sites have been signed
with The Motley Fool,
Excite UK, and
and eBookers. These signings
bring the total to around 200 merchants using beenz to encourage
on their sites.

To earn beenz, consumers visit, interact with, or shop at the merchant
sites which offer the currency. Users can spend their beenz on DVDs,
sporting goods, holidays, books, clothing and over 2,000 other products and

Last month added an Australian office in Sydney, and also
has offices in London and San Francisco, with its headquarters in New York.

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