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| January 27, 2010 | WIGIX.COM, NEW HIGH TECH COMMUNITY-DRIVEN MARKETPLACE NAMES FORMER IBM EXECUTIVE NICK DONOFRIO TO ITS BOARD |
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WIGIX.COM, NEW HIGH TECH COMMUNITY-DRIVEN MARKETPLACE NAMES FORMER IBM EXECUTIVE NICK DONOFRIO TO ITS BOARD Wigix.com adds global business expertise, and innovation star power, welcoming internationally acclaimed technologist, Nick Donofrio to its team OAKLAND, CA - January 27, 2010 - (PR Newswire) - Wigix (www.wigix.com) announces technology and global business leader Nick Donofrio as its newest board member. Formerly, Mr. Donofrio was the head of IBM's technology & research strategy and a champion for innovation across IBM (NYSE: IBM). During his 44 years at IBM he led many major development and manufacturing teams -- from semiconductor and storage technologies, to microprocessors and personal computers, to IBM's entire family of servers. He received much acclaim at IBM: Business Week magazine's named him one of 25 Top Innovation Champions. Industry Week magazine named Mr. Donofrio Technology Leader of the Year in 2003, and he received the Rodney D. Chipp Memorial Award by the Society of Women Engineers for his outstanding contributions to the advancement of women in the engineering field. Donofrio is also an IBM Fellow Emeritus, the highest honor a scientist, engineer or programmer at IBM can achieve. Wigix.com CEO and founder, James Chong says, "Nick is one of the world's greatest and most sought after technologists, as well as a highly experienced global business leader. We are deeply honored that he decided to join our board." When asked what brought him to Wigix.com, Mr. Donofrio said, "Wigix.com is truly an expression of innovation that brings results and value to the marketplace. They have broken the mold with new, inventive low cost ways to help users earn extra income, make the smartest purchases, and derive benefit from Wigix.com community tools and information." Wigix.com's free listings model for all sales combined with a community-driven marketplace, in which its members can profit directly from the success of the site, puts Wigix.com in a different class from rival eBay. Wigix.com revolutionized eCommerce and modernized online marketplaces with its own NASDAQ style innovative trading platform technologies coupled with relevant product information from specifications to reviews compiled in one webpage enabling informed and decision-driven transactions to occur between consumers and sellers. About Wigix Wigix (www.wigix.com) is a catalog of all products, a listing of who owns them and what they are worth by leveraging an innovative, open, and highly scalable community-driven process. This database-driven platform enables an easy search experience for any item and its associated meta-data and NASDAQ stock-market-style liquidity. Wigix's catalog has over three million unique items and is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Take a look at the uniqueness of Wigix's product pages on items such as the Nintendo Home Console Game System as well as the Xbox Live 12 Months Gold Subscription Cards respectively: www.wigix.com/index.php/item/detail/8911/Nintendo-span-stylecolor-de4e00bWii-b-span-Home-Console-Game-System and http://www.wigix.com/item/2175821/Microsoft-Xbox-Live-12-Months-Gold-Subscription-Card. Successful entrepreneur James Chong, who architected the online trading systems at Charles Schwab, founded Wigix, Inc. in 2007. Wigix.com's team includes co-founder Bob Lee (a former Charles Schwab colleague) and Albert Loh, along with other Internet and software veterans. Wigix is headquartered in Oakland, California, but also has operations in China and is funded by venture capital firm, Draper Fisher Jurvetson. Wigix is headquartered in Oakland, California, also has operations in China and is funded by venture capital firm, Draper Fisher Jurvetson. Media Inquiries:Jesse Gift, Media Relations, Wigix, Inc., +1-415-229-3299 jesse@wigix.com |
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| October 23, 2009 | BRIGHT HOLIDAY PROSPECTS AT COMMUNITY-DRIVEN MARKETPLACE WIGIX.COM CONTRASTS RIVAL EBAYS' DISAPPOINTING NEWS FOR INVESTORS |
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BRIGHT HOLIDAY PROSPECTS AT COMMUNITY-DRIVEN MARKETPLACE WIGIX.COM CONTRASTS RIVAL EBAYS' DISAPPOINTING NEWS FOR INVESTORS Wigix.com Offers Sellers Free Listings, & Ways For Community Members To Make Money Sharing Their Knowledge OAKLAND, CA - October 23, 2009 - (PR Newswire) - Wigix (www.wigix.com) main rival eBay, reported disappointing numbers Wednesday, and its investors worried as its main marketplaces division continues to sag during the run up to the crucial holiday season. Wigix.com is aiming to take advantage of this weakness with what has been called its disruptive business strategy. CEO and founder, James Chong states, "Wigix.com has a no risk, no upfront cost, no on-going cost for sellers' policy. And, Wigix technology provides immediacy and transparencies for both buyers and sellers that eBays' auction systems can not provide." A New York Times article yesterday prefaced this quote from a leading research company saying, "Still, not all e-commerce analysts are confident that eBay's turnaround will be successful. EBay just kind of reached its saturation point," said Sucharita Mulpuru, a vice president at Forrester, the research firm. "The universe of people who are willing to buy in a marketplace setting like EBay is limited." Unlike EBay, Wigix.com is positioned to optimize the modern Internet, while taking advantage of every weakness at EBay to make inroads with consumers. With Wigix.coms' community-driven marketplace, the member users can profit directly from the success of the site, unlike EBay, where even the investors are losing money. About Wigix Wigix (www.wigix.com) is a catalog of all products, a listing of who owns them and what they are worth by leveraging an innovative, open, and highly scalable community-driven process. This database-driven platform enables an easy search experience for any item and its associated meta-data and NASDAQ stock-market-style liquidity. Wigix's catalog has over three million unique items and is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Take a look at the uniqueness of Wigix's product pages on items such as the Nintendo Home Console Game System as well as the Apple iPhone 3G S 32GB respectively: www.wigix.com/index.php/item/detail/8911/Nintendo-span-stylecolor-de4e00bWii-b-span-Home-Console-Game-System and http://www.wigix.com/item/3197826/Apple-iPhone-3G-S-32GB. Successful entrepreneur James Chong, who architected the online trading systems at Charles Schwab, founded Wigix, Inc. in 2007. Wigix.com's team includes co-founder Bob Lee (a former Charles Schwab colleague) and Albert Loh, along with other Internet and software veterans. Wigix is headquartered in Oakland, California, also has operations in China and is funded by venture capital firm, Draper Fisher Jurvetson. Media Inquiries:Jesse Gift, Media Relations, Wigix, Inc., +1-415-366-6648 jesse@wigix.com |
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| September 2, 2009 | WIGIX ANNOUNCES 1 MILLION IN OPEN SELL ORDERS |
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WIGIX ANNOUNCES 1 MILLION IN OPEN SELL ORDERS With Over Three and a Half Million Unique Items, Wigix is poised to be one of the Top Five Product Catalogs in One Year. OAKLAND, CA - September 2, 2009 Wigix (www.wigix.com) today announces that they are the third largest multi-product database on the web. Wigix has surpassed Overstock.com and Walmart.com in number of SKUs in a multi-product database (Source: Internet Retailers Top 500 Guide 2009 Edition) Wigix currently has 3.5 million SKUs and denotes exponential growth from the 400 thousand SKUs during its public beta launch in June 2007. This milestone marks a clear path to becoming one of the Top 5 Product Catalog within one year and the largest single product catalog within 3 years. In addition, Wigix has experienced exponential growth in sell orders; currently holding 1 million open sell orders. Each sell order listing signifies one or multiple items available to buy from its member-base. These accomplishments are coupled with matching, record growth in monthly completed transactions and memberships. "eBay's unique users have fallen 36% since January 2007 (according to eBay Monthly Unique Users, rough estimate data from Quantcast). eBay continues to drive away its users with frequent increased pricing and policy changes. Our exponential growth is a clear indicator that Wigix is providing a better solution to the sellers and buyers who are migrating away from eBay," said Steve Young, Wigix's Senior Marketing Manager. Continuing on the company's commitment to develop a unique and compelling online marketplace, Wigix's community networks will now allow members to join specific groups, gain product information and expertise through like-minded individuals, share photos and experiences, easily search for the products they are looking to buy or sell and develop an overall sense of community. About Wigix Wigix (www.wigix.com) is a catalog of all products, with information of who owns them and what they are worth by leveraging an innovative, open, and highly scalable community-driven process. This database-driven platform enables an easy search experience for any item and its associated meta-data and NASDAQ stock-market-style liquidity. Take a look at the uniqueness of Wigix's Catalog at: www.wigix.com/index.php/item/detail/8911/Nintendo-span-stylecolor-de4e00bWii-b-span-Home-Console-Game-System. Wigix is headquartered in Oakland, California, also has operations in China and is funded by venture capital firm, Draper Fisher Jurvetson. Wigix, Inc. was founded in 2007 by James Chong, a successful entrepreneur who also architected the online trading systems at Charles Schwab. Besides Chong, Wigix's team includes co-founder Bob Lee (a former Charles Schwab colleague) and Albert Loh, along with other Internet and software veterans. Media InquiriesIrene Owyang irene@wigix.com 415-229-3299 |
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| March 4, 2009 | WIGIX BRINGS COMMUNITY TO ONLINE SHOPPING |
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WIGIX BRINGS COMMUNITY TO ONLINE SHOPPING Wigix Launches New Ecommerce Community Network Starting with Book Lovers and Parenting OAKLAND, CA - March 4, 2009 Wigix (www.wigix.com), the world's first online stock market for consumer products, today announced the launch of its community network, which aims to create a community of buyers, sellers and enthusiasts around specific interests. The communities allow users to interact with groups focused on various market segments including fashion and beauty, consumer electronics, green living, parenting, book lovers and more. This initiative is kicking off with the launch of the first two targeted communities - Toddults and Bookworms. "One of our goals in developing Wigix is to provide a new online shopping experience created and perpetuated by the people involved. Most current experiences involve product searches that are convoluted, confusing and constrained, resulting in a grab bag of listings with varying degrees of information," said James Chong, CEO and co-founder, Wigix. "This does not engender a community of interest around an object of mutually shared desire; instead, buyers and sellers snipe and gripe over single trades where they should be debating and rating. We want to change that and provide gathering places for enthusiasts centered around their passions and expertise." The Toddults community is where buyers, sellers and experts can come together with a focus on raising children. The community will allow consumers to find out from experts what products are best to raise healthy children from toddler to adult as well as discuss controversial topics including the octuplets mother, Heelarious high heels for babies and more. The Bookworms community is where users can share, discuss and vote for their favorite books. Buyers, sellers and enthusiasts can come together to share their knowledge and find the best deals, while making educated transactions about their products of interest. "I am excited about being a part of something so new and fresh. Wigix is really changing the way we interact with a retail site and I look forward to sharing my knowledge in Wigix's Toddults and Bookworms communities," says Francine Levitov, a Wigix Category Expert and Bookworms Community Expert. Continuing on the company's commitment to develop a unique and compelling online marketplace, Wigix's community networks will now allow members to join specific groups, gain product information and expertise through like-minded individuals, share photos and experiences, easily search for the products they are looking to buy or sell and develop an overall sense of community. About Wigix Wigix (www.wigix.com) is the world's first online stock market for consumer goods. Wigix uses NASDAQ-style trading along with community and social networking technologies to create a community-driven marketplace that not only delivers dramatically lower costs and improved user experiences but also a vibrant community of passionate and informed collectors, owners, and traders who can all share in the success of the site. Wigix's catalog of over two million unique items is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Take a look at the uniqueness of Wigix's catalog at: www.wigix.com/index.php/item/detail/8911/Nintendo-span-stylecolor-de4e00bWii-b-span-Home-Console-Game-System Wigix, Inc. was founded in 2007 by James Chong, a successful entrepreneur who also architected the online trading systems at Charles Schwab. Besides Chong, Wigix's team includes co-founder Bob Lee (a former Charles Schwab colleague) and Albert Loh, along with other Internet and software veterans. Wigix is headquartered in Oakland, California, and also has operations in China. Media InquiriesIrene Owyang irene@wigix.com 415-229-3299 |
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| January 28, 2009 | WIGIX INTRODUCES NEW PHOTO TAGGING FEATURE "LABEL YOUR STUFF" - A NEW WAY TO DISPLAY ITEMS YOU OWN |
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WIGIX INTRODUCES NEW PHOTO TAGGING FEATURE "LABEL YOUR STUFF" - A NEW WAY TO DISPLAY ITEMS YOU OWN With Over Two Million Unique Items, Online Marketplace Members Can Proudly Display Their Possessions in a Fun, Interactive Way OAKLAND, CA - January 28, 2009 Wigix (www.wigix.com), the world's first online marketplace for consumer products that combines NASDAQ-style trading and social networking, today released a new photo tagging feature designed to enrich the overall user and buyer experience. This new and exciting feature, called Label Your Stuff, allows users to "tag" and/or caption photos of their possessions easily for insurance purposes, visual selling or just for fun! Moreover, Wigix is announcing its phenomenal growth in reaching an excess of two million unique catalog items since its inception. Wigix's substantial growth is attributable to committed Wigix members' participation as well as both consumers and retailers opting for a more cost-effective and reliable alternative marketplace to buy and sell items. "That is pretty cool!" and "I like it a lot!!! Wigix is such a refreshing change from the alternatives! This is what online auctions are meant to be!!" said Shannon Toomey (Shaboutiques), a Wigix member and seller. With this cutting edge tool, members can easily identify products within their photos and uniquely display their portfolio of items in their Wigix photo albums and on their Facebook accounts. Other practical uses of this feature consist of enabling members to keep inventory of household items in the case of insurance claims and quickly access Wigix's wealth of product information such as product manuals, reviews and videos just by uploading and tagging a picture of the product. With over two million unique items in the Wigix catalog, members can label their photos with much ease and capitalize on the utility of this tool. "We're constantly driving innovation, persistently looking for new ways as well as listening to the needs of our members to add richness to their overall Wigix experience," said James Chong, CEO and Founder of Wigix. "With Label Your Stuff, we are providing our sellers the ability to use a solutions-oriented sales approach. Our buyers, in turn, receive the added benefit of knowing which products work and look best together." Wigix revolutionizes online auctions and modern marketplaces around the world by employing the NASDAQ trading model and allowing for informed, low-risk transactions to occur between consumers and sellers. The company's innovative technological disposition, minimal fees, combined with a community-driven marketplace in which its members can profit directly from the success of the site, boosts Wigix to the forefront of online marketplaces, where people can find the consumer products they need easily and quickly while sellers can earn more from each sale. About Wigix Wigix (www.wigix.com) is the world's first online stock market for consumer goods. Wigix uses NASDAQ-style trading along with community and social networking technologies to create a community-driven marketplace that not only delivers dramatically lower costs and improved user experiences but also a vibrant community of passionate and informed collectors, owners, and traders who can all share in the success of the site. Wigix's catalog of over two million unique items is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Take a look at the uniqueness of Wigix's catalog at: www.wigix.com/index.php/item/detail/8911/Nintendo-span-stylecolor-de4e00bWii-b-span-Home-Console-Game-System Wigix, Inc. was founded in 2007 by James Chong, a successful entrepreneur who also architected the online trading systems at Charles Schwab. Besides Chong, Wigix's team includes co-founder Bob Lee (a former Charles Schwab colleague) and Albert Loh, along with other Internet and software veterans. Wigix is headquartered in Oakland, California, and also has operations in China. Media InquiriesIrene Owyang irene@wigix.com 415-229-3299 |
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| October 22, 2008 | WIGIX ENABLES STOREFRONTS WITHOUT THE NEED FOR STOREROOMS |
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WIGIX ENABLES STOREFRONTS WITHOUT THE NEED FOR STOREROOMS Online Stock Market for Consumer Goods Provides Different Ways of Making Money for Both Retailers and Consumers OAKLAND, CA - Oct. 22, 2008 Wigix (www.wigix.com), the world's first online stock market for consumer products, today announced its newest service designed to enrich the online marketplace for both buyers and sellers named Storefronts. The new service allows sellers to build and brand their own customized online shops and improves the shopping experience for buyers. Since its beta launch six months ago, Wigix has experienced rapid growth as consumers and retailers look for more reliable and cost-effective alternatives for buying and selling products online. Storefronts is the company's latest offering and will give sellers sophisticated features to easily manage online inventory and sales. In addition to Storefronts, Wigix is also providing its community with another way to participate in the company's revenue-sharing model through the launch of its Affiliate Program. Among the benefits of this program is the ability for affiliates to make money without selling merchandise, simply by either referring new members to the Wigix site or recommending products from Wigix customers on their websites or blogs. The program is one of several ways current members can earn money on Wigix, increasingly making it one of the most financially rewarding, consumer-driven online marketplaces. "Since the inception of Wigix, we've been constantly driving innovation and looking for new ways for people to make money through their expertise and access to products," said James Chong, CEO and co-founder of Wigix. "With the launch of Storefronts, we are providing professional sellers with the simplest way to list multiple products and create a customized online retail experience. Through our affiliate program, consumers can now make money in multiple ways, even just by recommending products through cross-linking with our site." Wigix's Storefronts will offer users the ultimate selling platform, allowing mass quantities of products to be uploaded, tracked, promoted and updated through an easy to use point-and-click interface. Key unique features, such as Shelves and Smart Shelves, ensure Storefronts owners can easily build their store inventory, effectively categorize their items, and display products in a way that will be easily sorted and understood by potential customers. The Storefronts also allow sellers to keep shoppers within their specific stores. "It's important to our sellers that we aren't distracting shoppers during their time on specific Storefronts, therefore, shoppers won't see other similar merchandise from other Storefronts or the catalog. It will keep the customer's total focus on the shopping experience until they are ready to leave a specific store," added Chong.
Wigix Storefronts, also offer the following features:
Wigix's new Affiliate Program is open to any Wigix member who has a blog or website that can provide a link back to the Wigix homepage. The program offers a three-tiered network reward system that allows members to earn a constant revenue stream. Tier 1 rewards users 4% of shared revenue; Tier 2, 2%; and Tier 3, 1%. The monies paid out are based on revenue earned by Wigix through advertising and completed transactions. For further details on Storefronts and the Affiliates Program, please visit www.wigix.com. About Wigix Wigix (www.wigix.com) is the world's first online stock market for consumer goods. It uses NASDAQ-style trading system along with community and social networking technologies to create a community-driven marketplace that not only delivers dramatically lower costs and improved user experiences but also a vibrant community of passionate and informed collectors, owners, and traders who can all share in the success of the site. Wigix's catalog of over one million unique items is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Take a look at the uniqueness of Wigix's catalog at: www.wigix.com/index.php/item/detail/8911/Nintendo-span-stylecolor-de4e00bWii-b-span-Home-Console-Game-System Wigix, Inc. was founded in 2007 by James Chong, a successful entrepreneur who also architected the online trading systems at Charles Schwab. In addition to Chong, Wigix's team includes co-founder Bob Lee (a former Charles Schwab colleague) and Albert Loh, along with other Internet and software veterans. Wigix is headquartered in Oakland, California, and also has operations in China. Media InquiriesMichelle Van Jura, Consort Partners customerservice@consortpartners.com Tel: +1 (646) 781-9323 |
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| July 29, 2008 | WIGIX EXCEEDS ONE MILLION UNIQUE ITEMS |
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WIGIX EXCEEDS ONE MILLION UNIQUE ITEMS Category Experts Rewarded with Certification Program and More Opportunities to Make Money Beyond Transactions OAKLAND, CA - July 29, 2008 - Wigix (www.wigix.com), the world's first online stock market for consumer products, today announced the results of its substantial growth since its inception - reaching an excess of one million unique catalog items. To manage the influx of items and Category Experts (CE) joining the Wigix community, the company also announced its Certification of Category Experts (CCE) program. The program will allow the CE community to create an easy-to-use, uniform catalog of items, ultimately speeding up and increasing their revenue opportunities beyond just transactions. "Wigix represents a new and disruptive spin on the online marketplace. This tool allows participants to profit by listing their items and conveniently managing the related information even if they never make an actual transaction," said Rob Enderle, Principal Analyst at the Enderle Group. "Wigix is a community offering and will benefit significantly from successful expert sellers who, in turn, will help novices make money thus increasing the value of the community." Wigix's CCE program includes training and testing of the CEW (Category Expert Workbench) tool-set to help CEs perfect the categorization of the items, correct information on the item detail page, effectively answer item queries, manage their category communities, and provide insight to the greater Wigix community. Not only does the program move the company towards the highest quality and most reliable catalog of items in the online marketplace, it also builds a platform that is easier for consumers, both buyers and sellers, to navigate, find specific items and make transactions easier. The CCE program highlights the growing opportunities on Wigix for CEs to own unique items and earn additional profits beyond transactions. "I am looking forward to the opportunities presented by Wigix both as a Category Expert and merchant," said Jerod Husvar, Vice President and co-owner, TunerJunkyard.com (www.TunerJunkyard.com) and Vice President, Lost Gypsy Forge, Inc. Wigix community members have three distinct ways to earn money without ever having to sell a single item. These include: 1. Category Expert: Submit and manage unique items from top to bottom in an entire category and get compensated by receiving 1% of that category's revenue (both advertising and transaction fees). 2. Homesteaders: Similar to those from the "Old West," submit a new item to a category and earn 5% of that item's revenues (both advertising and transaction fees). 3. Referral: Use your network of contacts to bring a new Homesteader to Wigix and you can get compensated for first, second and third generation referrals, paying 4%, 2% and 1%, respectively, of any revenue (both advertising and transaction fees) made by your referral's homestead items. "As the Wigix community grows, it's important to continue listening to the needs of our users. The new CCE program enhances our community's ability to make money by making items easier to find and rewarding those people who contribute specific items," said James Chong, Wigix's co-founder and CEO. "Every user will benefit from this process - searching, gathering information and confidently purchasing and selling items will all become easier and more transparent through the new CCE program." Wigix transforms online auctions by employing the bid/ask model utilized by NASDAQ and most other modern markets around the world allowing for informed, low-risk transactions. The company's minimal fees, combined with a community-driven marketplace in which its members can profit directly from the success of the site, boosts Wigix to the forefront of online marketplaces, where people can find the consumer products they need and sellers can make more profits. About Wigix Wigix (www.wigix.com) is the world's first online stock market for consumer goods. Wigix uses NASDAQ-style trading along with community and social networking technologies to create a community-driven marketplace that not only delivers dramatically lower costs and improved user experiences but also a vibrant community of passionate and informed collectors, owners, and traders who can all share in the success of the site. Wigix's catalog of over one million unique items is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Take a look at the uniqueness of Wigix's catalog at: www.wigix.com/index.php/item/detail/8911/Nintendo-span-stylecolor-de4e00bWii-b-span-Home-Console-Game-System Wigix, Inc. was founded in 2007 by James Chong, a successful entrepreneur who also architected the online trading systems at Charles Schwab. In addition to Chong, Wigix's team includes co-founder Bob Lee (a former Charles Schwab colleague) and Albert Loh, along with other Internet and software veterans. Wigix is headquartered in Oakland, California, and also has operations in China. Media InquiriesMichelle Van Jura, Consort Partners wigix@consortpartners.com Tel: +1 (646) 781-9323 |
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| July 9, 2008 | WIGIX ANNOUNCES BOARD APPOINTMENTS |
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WIGIX ANNOUNCES BOARD APPOINTMENTS OAKLAND, Calif., July 9, 2008 -- Today Wigix (http://www.wigix.com), the world's first online stock market for consumer products, announced that Tim Draper and Bill Burnham are appointed to the Board of Directors. Wigix's Board is led by CEO and co-founder James Chong, a pioneer of the ecommerce market who architected Charles Schwab's online trading systems and held senior positions at IBM and PlanetRX. These appointments follow the recent announcement that Wigix has raised $5.35 million in Series A funding, led by Draper Fisher Jurvetson. "We're delighted to announce such high-profile board members with such deep understanding of the ecommerce market. The senior management and advisory team at Wigix can draw on experience of working with innovative companies such as Hotmail, Schwab, Skype, and Baidu," said James Chong, Wigix's co-founder and CEO. "This will be invaluable in helping Wigix achieve its goal of transforming the way consumer products are valued and traded online." Wigix transforms online auctions by employing the bid/ask model utilized by NASDAQ and most other modern markets around the world allowing for informed, low-risk transactions. The company's minimal fees, combined with a community-driven marketplace in which its members can profit directly from the success of the site, boosts Wigix to the forefront of online marketplaces, where people can find the consumer products they need and sellers can make more substantial profits. The company's recent funding will go towards building a proprietary new portal, educating and transitioning customers from legacy services smoothly, and ensuring the company is able to provide a level of customer service which has been lacking in the online marketplace over the last several years. Tim Draper is the managing director and founder of Draper Fisher Jurvetson, which has been instrumental in backing and shaping many of the most influential online ventures in the last 10 years, including Skype, Overture, Hotmail and many others. Draper is an influential leader within the Web 2.0 space and an advocate for entrepreneurs. Bill Burnham brings his venture capital background, along with a successful career as a Wall Street analyst specifically focused on the ecommerce and online trading spaces. His past investments have included companies, such as Cyanea, Data Power (both sold to IBM) and others. About Wigix Wigix (http://www.wigix.com) is the world's first online stock market for consumer goods. Wigix uses NASDAQ-style trading along with community and social networking technologies to create a community-driven marketplace that not only delivers dramatically lower costs and improved user experiences but a vibrant community of passionate and informed collectors, owners, and traders who are all able to share in the success of the site. Wigix's catalog of over 800,000+ unique items is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Take a look at an example Wigix's unique catalog at: http://tinyurl.com/6hzfes Wigix, Inc. was founded in 2007 by James Chong, a successful entrepreneur who also architected the online trading systems at Charles Schwab. In addition to Chong, Wigix's team includes co-founders and former Charles Schwab colleagues Bob Lee and Albert Loh, as well Internet and software veterans. Wigix headquartered in Oakland, California, and also with operations in China. Media InquiriesKathy Johnson, Consort Partners wigix@consortpartners.com Tel: +1 415 823 9566 |
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| April 29, 2008 | WIGIX - WORLD'S FIRST STOCK MARKET FOR GOODS |
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WIGIX - WORLD'S FIRST STOCK MARKET FOR GOODS Combines NASDAQ-Style Trading with a Community-Driven Marketplace to Transform Buying and Selling Online OAKLAND, CA - April 29, 2008 - Former Charles Schwab executives today announced the public beta service of Wigix (www.wigix.com), the world's first online stock market for all non-financial goods. Wigix transforms online auctions by combining NASDAQ-style trading with a community-driven marketplace to dramatically improve the cost, security and efficiency of online auctions, and to create a new community in which its members can profit from the overall success of the site. NASDAQ-Style Trading The Wigix platform is based on the bid/ask model employed by NASDAQ and most other modern markets around the world. Sellers can list their item for any price, and buyers have the option to pay the listed price or offer an alternative price - both parties can accept or reject the bid. Bid/Ask markets give power to both buyers and sellers, while providing complete transparency throughout the process and reducing or eliminating common problems currently plaguing online auctions, such as shilling and sniping. Specific features of Wigix's advanced marketplace include:
A Community Driven Marketplace Of equal importance to its bid/ask trading is Wigix's advanced community and social networking technologies. By weaving these technologies directly into the marketplace, Wigix has created a series of groundbreaking features that enable communities of collectors, traders, owners and friends to not only discover and interact with each other but to contribute to the growth of Wigix... and directly share in the success of the site. Some of the specific community-focused innovations that Wigix has developed include:
"The Internet has changed greatly in the past 15 years and yet the online auction industry is still firmly stuck in the 1990s. It's time for online auctions to enter the 21st century", said James Chong, Wigix's CEO. "Wigix applies lessons from modern financial markets and integrates them with community and social networking technologies to bring greatly enhanced features and functions to buyers, sellers and owners at a dramatically lower cost. It also provides a unique platform for passionate collectors and owners to gain recognition for their expertise, and to share in the rewards that their participation in the community helps to create. Finally, rather than fight progress, Wigix's business has been architected to symbiotically co-exist with the many web-based innovations and services that have been developed in the past 15 years." Beta Test Goals Wigix has several key goals for its public-beta test including:
Trading will be limited to a sub-set of categories to start-with, but this universe will expand as the public beta progresses. Formal launch of the site is planned for late summer early fall 2008. About Wigix Wigix is the world's first online stock market for goods. Wigix uses NASDAQ-style trading along with community and social networking technologies to create a community-driven marketplace that not only delivers dramatically lower costs and improved user experiences, but a vibrant community of passionate and informed collectors, owners, and traders who are all able to share in the success of the site. Wigix, Inc. was founded in 2007 by James Chong, a successful entrepreneur who also architected the online trading systems at Charles Schwab. In addition to Chong, Wigix's team includes co-founders and former Charles Schwab colleagues Bob Lee and Albert Loh, as well Internet and software veterans. The company has raised significant venture funding from Draper Fisher Jurvetson and high-profile angel investors. Wigix is based in Oakland, CA. Media InquiriesKathy Johnson, Consort Partners wigix@consortpartners.com Tel: +1 415 823 9566 |
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Keeping fees at bay
