Free ISP Freeserve Thursday
announced it will enter the ring for online auction fisticuffs in the UK.
Freeserve (FREEV) and US-based Auctions.com will form the Freeserve Auctions
Ltd joint venture, of which Freeserve will hold a 80 percent majority.
The auction site is scheduled to launch in November, at which point
Classified Ventures' AuctionUniverse.co.uk site will transform into
Freeserve Auctions.
"As we evaluated opportunities to partner with a leading online auction
company, we were impressed by the level of customer service and support
that auctions.com offers," commented John Pluthero, chief executive
officer, Freeserve.
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"This venture is an important component of our international strategy to
introduce our innovative auction technology into new markets," said Tom
Finke, president, auctions.com.
Auctions.com also recently announced that Sold.com.au, its Australia
venture with media mogul John Fairfax Group Pty. Ltd., has completed more
than 40,000 sales worth over AUS$5 million in the last two months.
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The UK site will face competition from the eBay (EBAY) and Yahoo! (YHOO) regional sites, as well as local
auction wonder QXL.com.
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