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Bidz.com, Inc. Launches Spanish-Language Version of Its Popular Online Auction Site
CULVER CITY, Calif. --(Business Wire)-- Bidz.com (NASDAQ:BIDZ), a leading online auctioneer of jewelry, announced today the launch of a complete Spanish-language version of its online auction site, Bidz.com. This version of the Web site can be accessed by clicking the "En Espanol" ("In Spanish") link on the Company's homepage, www.bidz.com. The Company has also hired Spanish speaking customer service personnel to better assist their new clientele.
The Spanish-Language site is geared to Spanish-speakers, whether they are in the U.S. or other countries. Bidz.com already derives 24% of its revenue from outside the U.S., and international revenue grew 60% in the first quarter of 2008. The Spanish-language site will be the first in a series of non-English sites, which will seek to tap into the auction site's attractiveness around the world. The company, which grew revenues 38.5% in the first quarter of 2008, sells on average over 12,000 items a day, making it one of the most visited jewelry sites on the Web. Bidz.com recently launched an online retail store with fixed prices, Buyz.com.
"Our exciting auction format delivers unsurpassed value to consumers, and we believe that by making the site available in other languages, beginning with Spanish, we'll bring our service to new audiences around the world," said David Zinberg, Chief Executive Officer of Bidz.com. "We believe that these sites can be a tremendous growth opportunity for the Company."
About Bidz.com
Bidz.com, founded in 1998, is an online auctioneer of jewelry. Bidz offers its products through a live auction format. To learn more about Bidz.com visit its website at www.bidz.com.
Safe Harbor Statement
This press release includes statements made by Bidz that are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including forward-looking statements about the Company's estimated revenue, gross margins, earnings and tax rates. All statements other than statements of historical facts contained in this press release, including statements regarding the Company's future financial position, business strategy and plans and objectives of management for future operations, are forward looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions, as they relate to the Company, are intended to identify forward looking statements. Bidz based these forward-looking statements largely on current expectations and projections about future events and financial trends that Bidz believes may affect its financial condition, results of operations, business strategy and financial needs. Risks and uncertainties relating to these statements include the ability of the Company to attract customers to its website and offer attractive products; to maintain its website, electronic data processing systems, and systems hardware; to forecast accurately net revenue and plan for expenses; to protect intellectual property rights; and potential litigation and government enforcement actions that may result from our prior securities offerings. All forward-looking statements are qualified in their entirety by reference to the factors described in Part I, Item 1A, "Risk Factors" in Bidz' 2006 Annual Report on Form 10-K, and in Part II, Item 1A, "Risk Factors" in Bidz' Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, that could cause the actual results of Bidz to differ materially from those projected in such forward-looking statements.
All subsequent forward-looking statements, whether written or oral and whether made by or on behalf of Bidz, also are expressly qualified by these cautionary statements. Any forward-looking statement speaks only as of the date on which such statement is made, and Bidz undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time and it is not possible for Bidz to predict all such factors, nor can it assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.
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