Adstar Wts 12/16/2004 (MM) (NASDAQ:ADSTW)
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AdStar and CityXpress Join Forces to Extend Marketplace
Technology to Newspaper Classifieds
AdStar to Integrate and Market CityXpress' Technology Capabilities, Helping
Publishers Respond to Online Competitors in Their Local Marketplaces
MARINA DEL REY, Calif. and VANCOUVER, B.C., Aug. 30 /PRNewswire-FirstCall/ --
AdStar, Inc. (NASDAQ:ADSTNASDAQ:ADSTW) today announced an agreement with
CityXpress Corp. under which the companies will integrate their products and
offer a complete solution to help newspapers e-commerce enable their online
classified ads.
As a result of the agreement, AdStar will be able to provide newspapers with a
new paid tier of transaction-enabled classified advertising services,
benefiting both advertisers and readers. The CityXpress features, including
fixed price and best offer functionality, will empower AdStar's newspaper
customers to offer online e-commerce products that more effectively compete
with offerings from eBay, craigslist and other new entrants into publishers'
local Web marketplaces. The new services complement AdStar's other Web-based
ASP services.
CityXpress' components allow AdStar to deliver an additional value-added
service to existing clients. Advertisers that have created, scheduled and paid
for their classified ads using AdStar's Web-based ad transaction technology
will have the ability to enhance their online ads with e-commerce transaction
capabilities. Using the new technology, newspaper advertisers will be able to
sell their merchandise for a fixed price or accept a best offer from an online
buyer. Buyers can complete the transaction online using CityXpress
Fulfillment, paying for their purchases with a credit card, debit card or an
electronic check through AdStar's EdgCapture online payment software.
This new technology provides an additional revenue-generating opportunity for
AdStar and its newspaper customers, while attracting new advertisers and buyers
to newspapers' Web sites that might otherwise use competitive online
alternatives.
"During the past two years, CityXpress has been involved in the implementation
of more than 200 event auctions that generated more than $46 million in revenue
for newspapers," said Leslie Bernhard, president and chief executive officer of
AdStar. "CityXpress has a proven platform that is bringing together
publishers, advertisers and consumers in unique online auction marketplaces.
By incorporating CityXpress' technology into our suite of e-commerce tools and
services, we can empower our newspaper clients to compete effectively with eBay
and other auction venues, while generating new advertisers, more traffic and
incremental revenue through their online operations. The technology allows
newspapers to compete directly with online auction sites by converting their
'read-only' online classified ads sections into virtual online marketplaces
with a variety of e-commerce features and click-to-buy functionality."
CityXpress' auction and online event technology is appropriate for
consumer-to-consumer transactions, as well as continuous business-to-consumer
and business-to-business marketplaces. The company's core technology includes
the following applications:
* XpressAuction: A full newspaper solution that allows newspapers to
directly manage every aspect of their online auctions, including item
maintenance, advertiser proofs, a fully-paginated print-ready catalog,
online bidding, payment processing and management reporting.
* GetAwayXpress Travel MarketPlace: A travel specialty marketplace that
aggregates travel items from dozens of newspaper markets into a common
auction site that is promoted as a single event auction.
"CityXpress is the only company to offer newspapers a comprehensive online
strategy supported by a technology platform that provides a common user
experience across the key components of a local online marketplace -- event and
specialty auctions, transaction-enabled online display ads, and online
classifieds," said Phil Dubois, president and CEO of CityXpress. "Access to
AdStar's newspaper clients, which represent the 'Who's Who' of the publishing
industry, will significantly extend the reach of our technology. Working
together, we can allow newspapers to integrate a new buying and selling channel
for advertisers, by converting classified ads into dynamic marketplaces that
are trusted and user-friendly."
AdStar's suite of e-commerce services includes AdStar's Web-based classified ad
transaction technology; XML Gateway, which allows newspapers to "reverse
publish" existing print ad content and offer a variety of online and print
classified advertising packages and "up-sell" opportunities; and EdgCapture, an
automated payment processing solution, and remote and online ad-transaction
services that allow publishers to integrate print and online classified
advertising initiatives. Recently, AdStar added to its e-commerce suite,
Innovectra's ActivClassifieds Directory local search product and Data Based Ads
next generation Internet advertising product, SmarterAds(TM).
About CityXpress
CityXpress (http://www.cityxpress.com/), the leading supplier of online
auctions for the newspaper industry, has pioneered event auctions for
newspapers since 2001. CityXpress works with newspapers throughout the United
States, Canada and Europe, to stage local auctions through its hosted software
and on-site sales and customer support services. The company currently
provides services to newspaper companies such as Knight Ridder, MediaNews
Group, Cox Enterprises, McClatchy, CanWest Global, Lee Enterprises, Scripps
Howard, Freedom Newspapers, the New York Times Company and the Northcliffe
Newspaper Group. CityXpress is headquartered in Vancouver, BC and Seattle. In
2004, CityXpress announced a strategic relationship with Knight Ridder, the
nation's second largest newspaper publisher, to be the exclusive provider of
online auctions for its newspapers.
About AdStar, Inc.
AdStar, Inc. (NASDAQ:ADSTNASDAQ:ADSTW) is the leading provider of e-commerce
transaction software and services for the advertising and publishing
industries. AdStar's proprietary suite of e-commerce services includes remote
ad entry software and web-based ad transaction services, as well as payment
processing and content processing solutions that are provided through its Edgil
Associates subsidiary, the industry's largest supplier of automated payment
processing services. AdStar's ad transaction infrastructure powers classified
ad sales for more than 40 of the largest newspapers in the United States, the
Newspaper Association of America's bonafideclassifieds.com, CareerBuilder, and
a growing number of other online and print media companies. EdgCapture, Edgil's
automated payment process solution, is currently employed by call centers at
more than 100 of the nation's leading newspaper and magazines. AdStar is
headquartered in Marina del Rey, Calif., and its Edgil office is located in
North Chelmsford, Mass. For additional information on AdStar, Inc., visit
http://www.adstar.com/.
Forward Looking Statements
This release contains forward-looking statements concerning the business and
products of the company. Actual results may differ from those projected or
implied by such forward-looking statements depending on a number of risks and
uncertainties including, but not limited to, the following: historical business
has already matured, new online business is unproven and may not generate
expected revenues, and Internet security risks. Other risks inherent in the
business of the company are described in Securities and Exchange Commission
filings, including the company's annual report on Form 10-KSB. The company
undertakes no obligation to revise or update any forward-looking statements to
reflect events or circumstances after the date of this release.
For more information, please contact: Jeff Baudo of AdStar, Inc.,
+1-310-577-8255, ; or media, Kevin Wilson, +1-513-885-5520, , for AdStar, Inc.;
or Peter de Souza of CityXpress, +1-604-638-3825, , or Angie Frazier,
+1-206-689-8505, , for CityXpress.
DATASOURCE: AdStar, Inc.
CONTACT: Jeff Baudo of AdStar, Inc., +1-310-577-8255, ;
or media, Kevin Wilson, +1-513-885-5520, , for
AdStar, Inc.; or Peter de Souza of CityXpress, +1-604-638-3825,
, or Angie Frazier, +1-206-689-8505, ,
for CityXpress
Web site: http://www.cityxpress.com/
Web site: http://www.adstar.com/