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

Green jobs the key to a sustainable economy

The EU needs a strategy by 2011 to encourage the creation of green jobs, says a draft resolution by the Employment and Social Affairs Committee that was adopted on Wednesday. more »

Gas supply crises: better protection for householders

Householders should not have to go without gas due to a gas-supply crisis, and such crises should be better managed, thanks to EU-wide co-ordination procedures and interconnection requirements laid down in draft legislation agreed informally with the Council at the end of June and approved by the Industry Committee on Tuesday. more »

Estonia joins the euro-family

Today the Council has taken the formal decision which will pave the way for the introduction of the euro in Estonia as of 1 January 2011 and will become the 17th European Union country to share the euro currency. more »

Deposit guarantee schemes – part 2

Proposals to improve protection for bank account holders and retail investors, and set up similar schemes for insurance policies. more »

Greener, more competitive farming after 2013

How should the EU's farm policy be reshaped and how should it be funded after 2013? more »

European Parliament ushers in a new era for bankers' bonuses

MEPs on Wednesday approved some of the strictest rules in the world on bankers' bonuses. more »

The European Parliament's position on financial supervision

Long before the financial crisis the European Parliament regularly pointed out the significant failures in the EU’s supervision of ever more integrated financial markets. more »

Magnetic Europe: Big plans for tourism industry

New strategy for stimulating tourism in Europe – to realise the full potential of an industry that already plays an important role in the economy. more »

Commission gives details of who received EU funds in 2009

The European Commission has disclosed who in 2009 received EU funds in policy areas like research, education and culture, energy and transport or external aid. more »

€ 30 million EU support for the promotion of agricultural products

The European Commission has approved 19 programmes in 14 Member States (Austria, Belgium, Czech Republic, Denmark, Germany, France, Greece, Italy, Ireland, the Netherlands, Poland, Slovenia, Spain and the United Kingdom) to provide information on and to promote agricultural products in the European Union. more »