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May 23, 2000

In this week's report. . .

  • BarterNet announces new global network
  • GM embraces technology to reach dealerships
  • iSolve's barter site promoted through nationwide TV spots
  • NYC launches consumer barter site
  • Here and there. . .

BarterNet Announces New Global B2B Network Supported By Experienced Trade Exchange Owners and Brokers

BarterNet is a dynamic, new barter company with worldwide aspirations which will include an extensive base of the top trade exchanges in the world, along with selected corporate barter companies. It's an innovative first for the commercial barter industry.

According to co-founder, chairman and CEO Laird Cagan, the new ambitious enterprise has assembled a world class team of executives who have proven track records in both start-ups and Fortune 1000 companies.

The company is backed by Wand Partners, Alignment Capital, and the partners of Parthenon Capital. For a complete list of the management team and other detailed information on BarterNet Corporation, see: www.BarterNet.com.


GM Barters For Technology Company Stake To Reach 8,000 Car Dealers

Last week we reported on Bank of America's making a big barter bet on an electronic bill-processor. This week it's General Motors turn...and they're bartering for a 10% stake (valued at $200 million)) in Reynolds and Reynolds Co., a leading provider of technology.

Under the arrangement, Reynolds & Reynolds will become GM's exclusive provider for dealer e-business. GM feels this technology is necessary to reach their 8,000 North American dealerships via the Internet.

Ultimately, GM envisions a world where consumers would be able to select and configure a car online, and then work with a dealer who would complete the purchase and feed the order to the factory. Consumers would be able to track their new car through the system online, much like they now can follow the progress of express packages.

The barter deal is an excellent one for GM, according to company officials, as it could bring them incremental revenues of about $150 million annually within four years.


Lundberg's iSolve.com Launches "Pop Quiz" Ads To Promote Its Barter and Surplus Site

Corporate barter company, ICON International, headed by Lance Lundberg (BarterNews cover story #46), has announced plans to promote their extensive internet site, iSolve.

The TV ads feature a game-show host who unexpectedly pops in on business executives to ask them direct questions about what they are going to do with their company's surplus inventory. In the case of canceled orders, overproduction, and labeling mistakes, for example, the managers can: (A) "eat it," or (B) "sell it fast through iSolve.com."

iSolve's 30-second spots are airing on CNN during Money Line, Newsstand, Larry King Live and Ahead of the Curve, as well as during CNBC's Squawk Box, Power Lunch, and Market Wrap. The spots also aired during the televised Preakness (horse-race), David Letterman, Dateline, and other news programs.

The aggressive, yet light-hearted, campaign is intended to build awareness and to drive both buyers and sellers to the site. iSolve offers companies holding surplus inventory and idle assets both cash and corporate barter solutions.


New Consumer Barter Site For NYC Metro Area Allows Local Retail Stores To Play A Role

A new barter site for consumers, known as SwapVillage, is being formed (www.swapvillage.com). Users will be able to list items they have, and, ultimately, trade among themselves.

In addition to online listing and trading services, SwapVillage offers SwapCorner which is a physical meeting and exchange location for in-person bartering. SwapCorner locations are sponsored by local retail stores in a trader's neighborhood...there are several locations throughout New York City. Other cities will soon follow says Michael Ko, president of SwapVillage.


Here And There. . .

  • An online bartering site for music, CD's, and movies - MrSwap.com - has announced a unique partnership with Fingerhut Business Services (FBSI), a fulfillment outsourcing company that handles all fulfillment efforts of parent cataloguer Fingerhut companies. MrSwap hopes to tap into a market of billions...CDs, VHS tapes, computer, and video games that are collecting dust in homes around the nation.

    FBSI will send postage-paid, pre-addressed mailers to MrSwap members who simply drop in the item and send it to the party who requested the "swap." MrSwap charges only for shipping and handling: a single CD is $2.99, with the effective cost-per-item going a low as 78� when multiple items are sent together. Advertising inserts and product samples provide the revenue for MrSwap.com.

  • Cuba gets 70% ($180 million) of its annual wheat and flour needs in a sugar-for-food barter deal with France.

  • In the just published issue of BarterNews (#52), one of the feature stories covers the efforts of New York City-based NetMedia-VC. Another new firm, formed by media executives, is following NetMedia-VC's lead. The new company is eMerging Equity Network. They've created a pool of broadcast, cable, print media, and event marketing services. In effect, they have a national ad hoc multi-media advertising package which they will barter to select emerging internet companies in exchange for equity.

  • Three business powerhouses are trading their services for equity in a new start-up firm, New Power Co., that will offer electricity and natural gas to small consumers in New Jersey and Pennsylvania...beginning this August.

    Enron Corp. will offer commodity energy, IBM will help the company with back-office functions such as billings, and AOL will help with customer recruitment.

  • Starwood Hotels & Resorts latest bartering effort is a back-to-back trade with ING mutual funds. ING has signed a deal to give its customers lodging at Starwood properties. In return Starwood gets a chance to attract some of the company's fund investors to its frequent guest program.

 

We welcome your comments, questions, and observations.
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