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December 5, 2000 NEW YORK--(BUSINESS WIRE)--December 5, 2000 -- New York - Small businesses, which represent over 99 percent of all employers , will now receive up to a 40 percent rebate on all business purchases. Through bCorner, which today launched its Beta site, companies and employees can earn cash and virtual dollar rebates from more than 500 online merchants. Located at www.bcorner.com, bCorner improves the procurement process and reduces costs for small businesses by offering rebates from merchants such as, Dell, Office Max, IBM, Expedia, eLinux.com, Mercata and iPrint.com. The merchants pay bCorner a commission in exchange for sending them transactions, and bCorner passes a significant portion of the commission to its members in the form of a 1 to 40 percent rebate. The rebate is in the form of vDollars, which are virtual dollars that can be applied to all products and services offered by bCorner merchants. vDollars can also be redeemed for cash. "Existing B2B procurement solutions are either unsuitable for small businesses or are time consuming, difficult to learn and often force users to fundamentally change the way they do business," said Evan J. Kaufman, chairman and CEO of bCorner. "Beginning today, bCorner offers a solution that enables small businesses and employees to buy products and services from the same merchants and in the same way they currently make purchases. However, with our aggressive rebate program, companies can achieve substantial cost savings." bCorner simplifies the procurement process by organizing products and services, and by offering descriptions and ratings of merchants. bCorner also provides employees with a significant incentive to use bCorner to save their company money instead of going directly to merchant web sites. When an employee makes a purchase for their company, bCorner pays the company a rebate, and rewards the employee with personal vDollars. The employee can then apply their personal vDollars to all products offered by bCorner's leading consumer merchants such as Brooks Brothers, Sharper Image, Borders, Outpost.com, and hundreds of others. The larger the company rebate, the more vDollars an employee will earn for personal purchases. "Small businesses account for more than half of the US gross domestic product, and by 2002, we expect that more than 72 percent of these businesses will be connected to the Internet," said C. Lanier Benkard, an assistant professor of economics at the Stanford University Graduate School of Business and a bCorner advisor. "As a result, the demand for online procurement solutions will continue to grow, and companies that enable small businesses to cost-effectively purchase goods and services online will be successful." About bCorner.com, Inc. Based in New York, bCorner is a small business marketplace that offers companies and employees cash and virtual dollar rebates on all purchases. bCorner's site (www.bcorner.com) identifies, organizes, evaluates and provides access to hundreds of merchants, who pay bCorner a commission in exchange for sending them transactions. bCorner passes a significant portion of the commission to its members, enabling small businesses to improve their procurement process and reduce costs. bCorner is a privately funded company that was founded in 1999. (1) According to the Small Business Administration Contact:
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