Published: June 10, 2010
New Online Auction Boocoo.com to Be Launched by Ranger Data Technologies Inc. and Nearly 300 Media Partners
DETROIT - (BUSINESS WIRE) - In a groundbreaking move that will create a new revenue stream for media
outlets while offering consumers a highly competitive alternative to
Ebay and other national e-commerce transaction sites, Ranger
Data Technologies Inc. is launching Boocoo.com, an online auction
that will share transactional fees with nearly 300 newspaper and
broadcast partners in North America. The partners will promote the
website on a sustained basis to help generate inventory, traffic, and
sales.
On June 14th Boocoo.com will first be activated for its media
partners prior to a June 21st national introduction.
"Because of the explosive growth in Internet usage in the past decade, a
new revenue opportunity has opened up for newspapers and other local
media. Boocoo.com was designed in part to regain revenue lost to online
classified advertising and auction sites while giving consumers a secure
and competitive alternative rich in local content," said George
Willard Sr., the Chairman, CEO, and Founder of Ranger
Data Technologies. The eleven year old Royal Oak, Mi. based company
founded by the former newspaper publisher is best known for its
classified advertising software systems.
According to the Newspaper
Association of America, classified advertising revenue for
newspapers nationally hit the high level water mark in 2000 at 19.9
billion but by 2009 the number had slipped to just over 6 billion.
However a custom analysis provided by Neilsen Online for the NAA reports
that newspaper websites attract more than one third of all internet
users.
"The massive audience produced by web users, loyal readers, and viewers
of hundreds of trusted local media brands combined with Boocoo's
consumer centric site, will result in long term revenue growth for all
our partners," said Willard.
The Boocoo business model is based upon the licensing of zip codes to
the media partners who will have exclusive rights to split transactional
fees generated by the auction site. If the buyer and seller are from
different zip codes, the media partners will share the fee. If they are
both from the same zip, the partner gets the entire share. With plans to
license all 29,735 zip codes in the country, already more than 20% have
been licensed.
"Besides obtaining a greatly needed revenue stream and the opportunity
to compete with Ebay and Craigslist without incurring overhead costs,
our partners have another way to interact with customers while further
proving the value and strengths of the local media," said Tony
Marsella, the President and COO of Ranger Data Technologies
and a former Vice-President of Classified Advertising for the Newspaper
Association of America.
As a special promotion for the June 14th media partner launch
of Boocoo.com, subscribers and viewers will receive a user name and
password that will allow access and waived transaction fees for a week
prior to the June 21st national launch when fees will be waived for all
consumers for a minimum of two weeks.
"It's high time that someone stepped up to help turn the newspaper
business around," said Kip Knight, a former Vice-President of Marketing
for Ebay North America who serves as a consultant to Ranger Data
Technologies. "Boocoo.com is an innovative and exciting approach for the
local media to enter the e-commerce transactional marketplace. I also
believe sellers should be attracted to the site because it is value
priced relative to other online auctions."
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6322474&lang=en
Media Contact:
Tony Marsella
Ranger Data
Technologies, Inc.
248-336-7300 Ext.228
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