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

Bankers have lost their friends in Davos - EP vice-president

Reform of the banking system was one of the key themes at this year's World Economic Forum in Davos, with bankers coming in for a lot of criticism. more »

Support small firms while tackling the crisis, say MEPs and experts

Small firms have been hard hit by the economic crisis, and so must be given incentives and support, including easier access to credit, help with innovation, tax breaks and less red tape, MEPs on Parliament's Special Committee on the Financial, Economic and Social Crisis (CRIS), and experts agreed at a workshop on Monday. more »

Reopening of trade negotiations between the EU and Central America within sight

The elections and investiture of Porfirio Lobo as President of Honduras have cleared the way for the EU to restore normal relations with the Central American country and negotiations for signing a bi-regional Association Agreement may soon resume. more »

European Globalisation Fund set to help workers in the furniture manufacturing and clothing industries in Lithuania

The European Commission has approved applications from Lithuania for assistance under the European Globalisation Adjustment Fund (EGF). more »

State aid: Commission takes Italy to Court for failure to recover illegal aid from hotels in Sardinia

The European Commission has decided to refer Italy to the European Court of Justice (ECJ) on the basis of Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) for failing to comply with a Commission decision of July 2008. more »

EBRD’s first investment in deposit insurance entity

The EBRD is helping to strengthen the financial sector in Bosnia-Herzegovina (BiH) with a €50 million credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA), the Bank’s first investment in a deposit insurance entity. more »

EBRD’s first investment in gas sector in Bosnia and Herzegovina

In its first investment in the natural resources sector in Bosnia and Herzegovina, the EBRD is providing a €17 million sovereign loan to finance the gasification of the Central Bosnia Canton. more »

EBRD supports private businesses in Armenia

The EBRD is increasing the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to ArmSwissBank for small and medium companies (SMEs). more »

European Commission: Lithuania Has Taken Effective Action

On January 27 the European Commission assessed the action taken by Lithuania, Malta, Latvia and Hungary in response to recommendations proposed by the Commission and endorsed by the Council in July 2009 in respect to the correction of their respective budget deficits. more »

Lithuania’s GDP Growth Largest in EU in Q3

EUROSTAT announced that Lithuania’s GDP rose by 6.1 % in the 3rd quarter of 2009 versus the previous quarter. more »