Word: fairmarket
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Dates: during 1990-1999
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...introduced its own auctions last year. (Yahoo's big selling point: listing items is free.) And in September, Microsoft, Dell Computer and more than 100 other companies announced that they're linking their websites--and their 46 million users--in a new auction consortium run by FairMarket, a company that creates and runs online auction sites...
...seller stuck in low-traffic, low-price Bismarck or a buyer shopping in high-cost Manhattan. Auctions also minimize transaction costs ("friction" in e-commerce-speak) and eliminate the need to operate bricks-and-mortar stores. Online auctions "wring out the inefficiencies in the supply-chain process," says FairMarket CEO Scott Randall. They also benefit from Metcalfe's Law (named after Robert Metcalfe, the founder of 3Com Corp.): the value of a network increases by the square of the number of people on it. Every time a conventional online retailer adds a new user, it's just one more person...
...small company in Woburn, Mass., called FairMarket is set to unveil an auction system that will coordinate listings and bids across a hundred online services, including those run by biggies like Microsoft, Dell, Lycos, Excite@Home and Earthlink. Microsoft, Excite@Home and Ticketmaster-City Search are getting a piece of FairMarket as part of their participation. MORE...
Under the law, property tax revenue for any city or town cannot exceed 2 1/2 percent of the fairmarket value of the taxable property in that city or town. It further restricts local governments from increasing the amount of revenue received from property tax by more than 2 1/2 percent a year...
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