7/26/00: Sorcity.com Exceeds 600,000 Suppliers
Company projects it will surpass one-million mark by 2001
DALLAS -- July 26, 2000... Sorcity.com, a B2B reverse auction Web site that connects buyers to suppliers offering a variety of products and services, has announced its supplier-side database has exploded to more than 600,000 participants in less than one year of operation.
"The word about Sorcity.com's free service is rapidly spreading among suppliers and buyers alike," says Wes Guillemaud, founder and CEO of Sorcity.com. "By giving suppliers an easy way to increase their sales and lead generation, we've virtually eliminated the time and expense typically necessary for them to find and market to new customers."
-- How Sorcity.com Builds Business for Suppliers --
Sorcity's reverse auction opens up a buyer's request to all qualified suppliers worldwide signed up for the service. There's virtually no limit to the number of suppliers able to bid for the business. This "open" approach increases competition, thus delivering the lowest possible price to the buyer.
Roy Sharbino, president and CEO of Sharbo Industrial Supplies (www.sharbo.com), sees the growth potential reverse auctions such as Sorcity.com offer and spends four to five hours every day on his computer bidding for extra business.
"We just landed a sizeable job from a large aerospace company on Sorcity's site," said Sharbino. "Now we have a significant new client, and Sharbo is one of its preferred suppliers."
John Giordano, owner of Proforma G.H.E., agrees. "I just won business from Nokia on Sorcity.com, and it didn't cost me a dime. Sorcity sends free leads to registered suppliers like us, which enables Proforma to compete for business we wouldn't ordinarily know about."
"Sorcity.com is in a league of its own," Sharbino said. "It's the easiest site out there to use, and it tells me everything I need to know at a glance. In five years, I believe 90 percent of our business will come from the Internet, and I would love all of it to be through Sorcity."
Recognized in the 1999 NAPM Technology Guide, Sorcity.com is an all-inclusive reverse-auction service for the business-to-business market. It matches the complex needs of serious buyers to the capabilities of serious sellers quickly, consistently and electronically. Sorcity.com's overall mission is to reduce the time and cost between the buyer and seller within all business segments and all industries. Purchasing magazine's June 2000 issue recognized Sorcity.com's concept in an article titled, "E-auction Model Morphs to Meet Buyers' Needs."