000421 GlobalFoodExchange.com Announces GrowthApril 11, 2000Atlanta, GA - GlobalFoodExchange.com has announced significant growth with five key milestones: - 3.3 million pounds of aggregate product traded; - 1600 registered users; - 20% increase in registered users per week; - 20% increase in number of transactions per week; - 48% increase in transaction value per week. With a total of 3.3 million pounds of transactions since October and trading in three key verticals at this time, GlobalFoodExchange.com is enthusiastic about the opportunity in the global food trade environment. “GlobalFoodExchange.com is an impressive early stage leader in the business- to-business food market,” says Jon Ekoniak, leading business-to- business equity analyst of U.S. Bancorp Piper Jaffery. “By developing a solution that addresses some of the biggest inefficiencies in the global food supply chain, the company has been able to gain meaningful traction. In turn, this traction has created a virtuous cycle, enabling the company to expand its product offering as well as attract top quality managerial talent and partners.” Meat Launches April 17. Dairy and Specialty Commodities Coming Soon In the upcoming weeks and months the company will launch commercial meat, dairy and specialty commodity verticals (all currently in beta development), dramatically increasing the service offering for multi-product buyers. “Our customers are really seeing the value of an independent online marketplace,” said Mark C. Moore, co-founder and president of GlobalFoodExchange.com. “With 1600 registered users and an increase of 20% per week in the number of transactions, we are expecting an even faster growth rate as we launch meat and dairy.” This growth is outpacing Forrester's prediction of 75% of business- to- business food Internet transactions growth per year. A New Look and Enhanced Functions GlobalFoodExchange.com is increasing the efficiency of the industry by creating a more informed market. With an increased sophistication in technology and more community building functions including relevant daily content, a job board and market pricing, GlobalFoodExchange.com has developed a powerful online trading community. The new capabilities and image directly reflects GlobalFoodExchange.com's creative and innovative approach to the global food trade. “We are aggressively setting the standards for the global supply trade,” said Moore. “Our superior technology, dedicated customer service combined with the functions and services we offer buyers and sellers is unsurpassed in the marketplace.”
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