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Zippi's Business Model Right on Target as eBay Announces Strategy to Return to Its Roots(March 16, 2009)
SAN JOSE, CA -- (Marketwire) -- 03/16/09 -- Zippi Networks, Inc., (PINKSHEETS: ZIPN), the leading provider of mobile commerce applications that enable Americans to recycle their "Clutter into Cash," today received yet another key validation of their business model as eBay announced its renewed focus on the auction marketplace and unique items that once dominated the eBay marketplace.
As stated in the Wall Street Journal article, eBay's visitor traffic fell over the recent holiday season and the company reported a 16% drop in fourth-quarter revenue for its marketplace business. The online-marketplace business constitutes about half of eBay's $8.5 billion in annual revenue.
"We aren't a retailer," said Mr. Donahoe, who took over as eBay CEO from Meg Whitman early last year. "We're going to focus where we can win." Mr. Donahoe valued the global market for secondary-market goods, online and otherwise, at $500 billion a year.
Robert A. Rositano Jr., CEO Zippi Networks, Inc., stated, "This is an amazing time for Zippi. Everything we have developed and tested as a company seems to have been validated with eBay's renewed excitement for a $500 billion dollar a year market for secondary goods. Zippi is all about advanced mobile technologies that recycle these secondary market goods on eBay, drive new listings for the marketplace, and restore value in a diminishing eBay seller community, which ultimately means creating new jobs."
To view entire eBay Wall Street Journal article please visit: http://online.wsj.com/wsjgate?subURI=%2Farticle%2FSB123679413477397787-email.html&nonsubURI=%2Farticle_email%2FSB123679413477397787-lMyQjAxMDI5MzE2MjcxOTI0Wj.html
About the Company:
Zippi(TM) Networks, Inc. (PINKSHEETS: ZIPN), headquartered in San Jose, Calif., and Founded in 2006 is the leading provider of mobile commerce applications that create jobs and enable Americans to recycle their "Clutter into Cash." This revolutionary business process has three US Patents Pending and promises to engage consumers with the ease of a toll free Hotline that takes the guesswork out of pricing and selling items online. Zippi allows consumers of all ages to "Free Themselves" with advanced mobile technology that allows everyone an easy hassle free way of turning clutter into cash, recycling, and earning an income with the Zippi Network. The "Zippi Cash" mobile iPhone application is the first in a consumer line of products that provides appraisal information to an item owner prior to listing. Zippi Cash will also connect directly to the seller network to handle the entire transaction for those who wish to cash in without the hassle of actually listing and selling themselves. Future versions of Zippi's mobile commerce applications will allow the user to list items themselves as they choose and build income for a complete home based business in the palm of their hand.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as results of various factors including the ability of the company to successfully commercialize its new technologies and service offerings. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Zippi is a trademark of Zippi Networks, Inc. All other trademarks or registered trademarks are the property of their respective owners.
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