GoTo Auctions and Verity Form Strategic Partnership
GoTo Auctions Offers Rapid, Scalable and Precise Access to Auction Goods and Services with Verity® K2 Toolkit
SUNNYVALE, CA. and RESEARCH TRIANGLE PARK, NC - 2000-10-16 - Verity, Inc. (Nasdaq: VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals as well as e-business applications, and GoTo Auctions, a division of GoTo.com, Inc. (Nasdaq: GOTO), today announced that GoTo Auctions has selected Verity® K2 Toolkit, a high-performance portal infrastructure technology, with advanced search, navigation and view capabilities, to power its integrated auction search. Affiliates of GoTo Auctions are able to add the capabilities to search over 250 auction sites and exchanges, including Amazon, eBay and Yahoo! Auctions.
"With millions of items being added or deleted on any given day, scalability and performance of indexing and searching are critical components," said Scot Wingo, general manager of GoTo Auctions. "Since deploying the Verity® K2 Toolkit, we've seen a dramatic decrease in overall indexing time - from 12 hours down to less than an hour to index from scratch. Another area of improvement is in the raw speed at which results can be viewed. We're thrilled that Verity has helped to improve the user experience on our site."
GoTo Auctions enables any business to participate in online auctions. GoTo Auctions' ChannelFusion enables businesses to sell products and services and provides seamless technology integration, allowing them to leverage existing e-commerce, inventory and customer management systems. AuctionManager, GoTo Auctions' comprehensive suite of inventory management tools, empowers sellers to create, manage and successfully close hundreds of sales per week.
"As the gateway to a plethora of auction sites, GoTo Auctions is a fast and easy way for people to enter the online auction space and promote their products and services to targeted customers," said Anthony Bettencourt, president of Verity, Inc. "We're proud to be able to contribute our expertise in portal infrastructure technology to GoTo Auctions. Consumers and businesses will have around-the-clock access to the precise information and products they need, securely and instantaneously."
About GoTo and GoTo Auctions
GoTo Auctions is a division of GoTo (Nasdaq: GOTO), the company that provides a set of e-commerce services to Web site partners, such as Web site search, comparison shopping and auction search. GoTo Auctions provides dynamic commerce solutions enabling consumers and businesses to successfully leverage the online auction marketplace. Affiliates of GoTo Auctions are able to add the capability to search more than 7 million items from more than 250 auction sites and business to business exchanges, including Amazon, eBay, and Yahoo! Auctions. AuctionManager, GoTo Auctions' comprehensive suite of inventory management tools and services, empowers sellers to increase their revenue and move more inventory through the online auction distribution channel. GoTo is headquartered in Pasadena, California, and GoTo Auctions is located in Research Triangle Park, N.C. A showcase site can be found online at www.goto.com and at auctions.goto.com.
About Verity
Verity is a leader in infrastructure software that powers corporate portals used for sharing information within an enterprise, e-commerce portals for online selling and market exchange portals for B2B activities. Business portals provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 48 of the Fortune 100 and by more than 1,000 corporations worldwide. The markets Verity serves are comprised of e-commerce merchants, e-businesses, market exchanges, government agencies, online service providers, Internet publishers and software developers. Verity customers include Adobe Systems, American Greetings, AT&T, Broadvision, CDNOW, Chapters, Cisco, CNET, Compaq, Dow Jones, Edgar Online, Ernst & Young, Fairmarket, Financial Times, Globe and Mail, Home Depot, IBM, Lotus, NewsEdge Corporation, SAP, Siemens, Snap.com, Sybase, Time New Media and Timex.
Certain statements, including, without limitation, statements related to financial and operating performance and agreements with distribution affiliates in this news release constitute "forward-looking statements." These forward-looking statements are inherently uncertain. Actual results may differ materially from these forward-looking statements due to risks such as: the risk that the new infrastructure technology and its capabilities might not significantly increase the traffic to GoTo Auctions. For a discussion of some of the other risk factors that could affect GoTo's future results, see the discussion of "Risks That Could Affect Our Financial Condition and Results of Operations" in GoTo's June 30, 2000 10-Q filing with the Securities and Exchange Commission.
This press release contains forward-looking statements relating to Verity and the expected performance of its products and technologies. Actual results are subject to risks and uncertainties. Risks relating to Verity and its products are set forth in its Form 10-K and other reports filed with the Securities and Exchange Commission.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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