DIDAX Inc. Signs Contract With Auto-By-Tel
21 November 1997
DIDAX Inc. Signs Contract With Auto-By-Tel, A Major Internet Auto Purchasing Program; Internet Company Adds to Growing Revenue StreamCHANTILLY, Va., Nov. 21 -- DIDAX INC. announced today that it has signed a contract with Auto-By-Tel, the largest automobile purchasing program on the Internet. The agreement will permit Auto- By-Tel to sell through the Marketspace on DIDAX's Christian Community Network(TM) Web site, http://www.Christcom.net. This service is expected to be available on CCN Marketspace in December 1997. Auto-By-Tel, headquartered in Irvine, CA, provides a one-stop shopping source for consumers to buy, lease, finance, and insure new and used cars and trucks via the Internet. Consumers can submit a free Purchase Request for the vehicle of their choice which is then routed by Auto-By-Tel's Accredited Dealers for a hassle-free, no-obligation, guaranteed price quote. There are currently 2,600 Auto-By-Tel Accredited Dealers in North America. Financing and leasing is also available, as desired, through Auto-by-Tel's relationships with Chase Auto Finance, GE Capital, Key Corporation, and Triad Financing and insurance though affiliate, AIG. Auto-By-Tel averages over 80,000 requests a month. The company was recently named the 4th Fastest Growing New Small Business in America by Dunn and Bradstreet and Entrepreneur Magazine. DIDAX, President and CEO, Dr. Robert Varney, in announcing the contract said, "We are pleased to offer our community membership a great service that permits them to purchase automobiles in an efficient and cost effective manner. We will receive a fee from Auto-By-Tel for each request that is submitted through our web site, adding to what we see as a growing revenue stream for quality services provided. We are evaluating other quality-of-life services that we can provide via the Internet to our membership in a similar manner. Considering affinity marketing such as this is just one of our potential revenue streams, others being advertising, retail sales, and technology consulting to the Christian community, we believe both our community membership and our revenues will ramp up significantly in the year ahead. We believe the job DIDAX is doing in offering quality-of-life services to the members of the Christian community is helping maximize the commercial value of the Internet today." Auto-By-Tel President and CEO, Peter Ellis, said, "We're proud to be working with DIDAX and their CCN Web site in bringing what we believe to be a valuable and significant service to their community. We can help a CCN family member make an informed, responsible choice with one of the largest purchase decisions facing a family today." ABOUT DIDAX Founded in 1993, the Company has developed The Christian Community Network(TM) (CCN) (http://www.christcom.net), an interactive Web site that provides content that appeals to the Christian community. This Web site provides Christian consumers with resources and information made available by Christian and secular retailers, publishers, charities and ministries. To date, the Company has derived most of its revenues from providing Consulting Services to Christian organizations, such as Promise Keepers, a nonprofit Christian ministry (PKNet, http://ww.promisekeepers.org), Christianity Today, Inc., a publisher of Christian periodicals (http://www.christianity.net), and World Vision, an international Christian relief agency (http://www.worldvision.org). The Company's Web site services and development clients also include Maranatha!Music, the Salvation Army, Ministry Business Services, Prison Fellowship, Family Research Council, Evangelical Council for Financial Accountability (ECFA), Christian Liberty Academy, Billy Graham Institute of Evangelism and Presbyterian Church in America. The Company is being positioned to generate revenues through the sale of advertising space on CCN, memberships in Christianity-based affinity marketing programs (affording participants price discounts and other benefits of group purchasing power), Christian interest products manufactured or developed by others (primarily Christian books, Christian music and other Christian articles) on CCN, and the continuing provision of technology consulting services to Christian organizations. SOURCE DIDAX, Inc.