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

Volcanic ash cloud crisis: Commission outlines response to tackle the impact on air transport

European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis. more »

EU draft budget 2011: The future beyond the crisis

Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010. more »

Vice President Almunia welcomes Visa Europe's proposal to cut interbank fees for debit cards

European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments. more »

Volcano impacts flower business

Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe. more »

Salgado expresses conviction that all EU countries will support aid for Greece

The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan. more »

The European conformity mark

Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers. more »

Airport security - who will foot the bill?

If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive. more »

Learning the lessons from Greece

After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics. more »

A new strategic vision for the EU's Tourism Policy

The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry. more »

EBRD, IFC, FMO, and ADM Capital Launch Fund to Help Companies in CEE, Central Asia, and Turkey Recover from Crisis

The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis. more »