Online auction giants seem more interested in overseas investment – the opposite of TWay’s strategy of focusing on better service and low rates.
TAMPA, FL (PRWEB) November 14, 2005 -- While the major players cast their eyes on business opportunities overseas, TWay.com, a small but customer-focused online auction site, remains focused on providing a better deal for its buyers and sellers.
The strategy seems to have less and less in common with the business plans of industry giants such as EBay, which says it plans to continue focusing on overseas investment and expansion.
“We believe that EBay’s increasing interest in overseas markets creates an expanded opportunity for us domestically,” said Dean Burnetti, TWay’s president. “We think that U.S. customers may rightfully feel neglected by the big auction sites’ obsession with overseas growth, and we are here to provide a better value.”
EBay said in a Securities & Exchange Commission filing Oct. 25 that it plans to continue to invest in overseas growth. The company has spent many millions this year in expansions in China, Europe and elsewhere.
“We expect to continue our investments in the areas of international expansion in our business segments and in customer support, site operations, product development, trust and safety, marketing and various corporate infrastructure areas,” the filing said. “We are also investing in expanding the format offerings of our global online marketplace, both organically and through acquisitions. We believe these investments are necessary to support the long-term demands of our growing business.”
TWay.com’s operations began with a modestly-priced fee structure and no listing fees. That policy continues to this day.
“Online auction companies that feel driven to become huge have only one way of financing such expensive growth,” Burnetti said. “The money has to come from the people who buy and sell on the site. “The question is, just how much of that will buyers and sellers be willing to underwrite?”
“Our customers tell us what they really want is simplicity and value in their online transactions, so simplicity and value are things that TWay intends to provide,” he said. “Our low overhead allows TWay to avoid listing fees of any kind and to deliver great value on every transaction.”
ABOUT TWAY.COM: TWay.com moves online buying and selling to the next level with unparalleled flexibility, options and service. It also offers marketing partnership opportunities to savvy entrepreneurs. To learn more, visit the website at www.TWay.com.
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