Online information and advice

Published: 11 September 1999 y., Saturday
When most people make buying decisions, they generally discuss their purchase with family and friends. Now, a new company, Epinions.com, is hoping consumers will supplement those conversations with online information and advice from regular folks familiar with various products. Nirav Tolia, CEO of epinions.com, discusses the firm_s strategy. He appeared on CNBC ondnesday. The online shopping guide, which officially launches Wednesday, is "obsessed with helping consumers make the right buying decisions," according to Mike Speiser, one of Epinions.com_s cofounders. Speiser said that Epinions operates on the premise that when people make buying decisions, they typically do two things: talk to people they know and talk to professionals. Epinions hopes to replicate the kind of discussions that people have with those they know. Epinions provides product information written by everyday people and also includes professional opinions and buying guides. Epinions has plans to branch out into providing local service information as well as international product and service information. Visitors to the site submit their "epinions" of particular products, which are ranked by users according to usefulness. The most useful epinions then come up first in searches, similar to online auction site eBay. Anyone can contribute and each contributor is considered an expert. Each expert_s photo comes up with his/her epinion along with a link to a self-written biography. Experts will be paid per page view and will likely have an option to contribute their earnings to a charity. Individual epinions are not edited and remain on the site permanently. To edit or remove comments, Speiser said, would be biased - and would conflict with the site_s purpose. The only guidelines for contributions are that each epinion be at least 75 words and contain no profanity. Product categories currently include autos, computers, electronics, media, outdoors, sports and travel. Categories will be added or modified based on consumer use.Epinions is different from other consumer information sites in that nothing is edited internally and the site is not a general discussion site, but instead provides highly specific information about products - albeit written by users. The site can accommodate 30 million simultaneous users, the company says. Epinions plans to generate revenue through advertising and relationships with various retailers.The company, founded in April, has generated a lot of discussion over the past few months because the founders all left prominent positions - and millions in stock options - at companies including Yahoo!, Excite@Home, Netscape and AOL.
Šaltinis: Epinions.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Parex Bankas is to refinance LTL 19.5 million for small and medium-sized enterprises

Parex Bankas won the tender organised by UAB Investicijų ir Verslo Garantijos regarding the financing of very small, small and medium-sized enterprises, and is to lend LTL 100 million together with other three selected banks. more »

Commission approves aid package for German bank WestLB

The European Commission has approved, under EC Treaty state aid rules, the €5 billion risk shield for German bank WestLB and accompanying measures, following an in-depth investigation opened in October 2008. more »

Capital Requirements Directive - rapporteur Karas interviewed

MEPs have backed new rules to rebuild trust in Europe's battered banks through better financial supervision and risk management. more »

AB Bank SNORAS changes the interest rates on time deposits

Taking into consideration the tendencies in the market, starting from 11 May this year AB Bank SNORAS will change the interest rates on time deposits in Litas, Euro, Great Britain pounds and USA dollars. more »

VW, Porsche in merger talks

Now VW and Porsche who are looking into a merger. more »

Small business, big ideas

First European SME week supports small businesses and encourages entrepreneurship. more »

Twist of fate: $120,000 found at ATM

Officials at an El Paso bank said $120,000 found at an ATM doesn't belong to the bank. more »

MEPs adopt strict conditions for the placing on the market of seal products in the European Union

The placing on the market of seal products should not be allowed say MEPs. It is permitted only where the seal products result from hunts traditionally conducted by Inuit and other indigenous communities. more »

Obama's corporate tax crackdown

President Barack Obama is calling on Congress to overhaul tax policies that he said reward companies for shifting U.S. jobs overseas and allow wealthy people to evade taxes using offshore accounts. more »

Animals used in science, seal ban debated Monday

MEPs will discuss the protection of animals used for science Monday evening along with a proposal to ban the trade in seal products. more »