Founded in 2003 based on key patent applications, Metails has created a unique, online community where users create pages that outline specific interests, favorite products, and other facts about themselves. Users can then search the Metails database for other individuals that have similar product and lifestyle interests. By sharing specific product information and reviews with those with comparable interests, Metails acts as a real-time, highly relevant consumer information destination. Metails enables the purchasing of these products through partner e-retail sites, whereby the users themselves are financially rewarded for becoming referrers of products to the various people in their network.
“The connection between social networking and online commerce is a natural fit for Buy.com”
"The connection between social networking and online commerce is a natural fit for Buy.com," says Neel Grover, President of Buy.com. "This acquisition extends our reach to a core audience of young consumers who have literally grown up online, and who are continuing to expand their personal networks online. The effect of like-minded consumers sharing product information and being able to act on that information and purchase their friend's recommendations in one destination is explosive. With the acquisition of Metails, Buy.com is set to capitalize on this growing trend."
"Metails is thrilled to leverage Buy.com's e-commerce expertise along with our online social networking capabilities, " said Jared Morgenstern, Metails CEO and Founder. "This partnership allows Metails to rapidly expand its consumer database and product offerings as we deliver the world's first consumer-centric shopping experience. We look forward to rapidly signing up other retailers to participate in this growing, relevant, viral-marketing environment."
Overstock.com (Nasdaq:OSTK) recently announced that their new auction site contains a social networking aspect. In the Buy.com/Metails e-commerce and social networking model, the actual customers doing the referring or "social networking" will also be rewarded for their efforts. Therefore, people who choose to recommend the products and services of Buy.com and other Metails merchants will not have to do so for free. Metails will offer continuous commission opportunities to people who get their friends and family to buy the products they recommend. An announcement of the official launch of the newly branded and integrated Metails site will be made later this year.
All employees of Boston-based Metails have relocated to Aliso Viejo, California and become Buy.com employees. Metails will continue operations as a subsidiary of Buy.com, Inc.
About Buy.com
Buy.com(R), The Internet Superstore(TM), offers its over 7 million customers more than 2 million products in a range of categories including computer hardware and software, electronics, cellular products and services, music and music downloads at 256k, DVDs, books, toys and more. Individuals and businesses can shop quickly and easily at Buy.com 24 hours a day, 7 days a week. Buy.com was named one of the Top 50 web sites in 2002 and 2003 by Internet Retailer, the top performing site on Gomez Inc.'s E-Holiday Shopping 2002 Index in the music, electronics and books category (December 2002), "Best Overall Place To Buy Mobile Devices" (January 2002), "Best E-Commerce Site" by PC World magazine (June 2001), "Best Overall Place To Buy" by Computer Shopper Magazine (January 2001), a "Best of the Web" in the computer and electronics category by Forbes Magazine (spring 2000 and fall 2000), and the No. 1 electronics e-tailer in the PowerRankings by Forrester Research, Inc. (November 2000). Buy.com, founded in June 1997, is located in Aliso Viejo, California. For more information, visit www.buy.com. Buy.com(R) and The Internet Superstore(TM) are trademarks of Buy.com, Inc.
About Metails
Metails.com is a world leading shopping social network, enabling members from around the globe to network with one other in an environment filled with products and trends. Integrating product reviews, purchasing histories, and peer recommendations, Metails.com is highly regarded as the first social network with a purpose -- to facilitate informed buying decisions by creating an interactive buyer's guide that is every bit as rewarding as it is social. Key to this purpose is Buy-thru-Friends(TM) , which lets members earn cash rewards for themselves and each other when they buy products that friends have recommended. Metails.com is committed to providing the most compelling social shopping experience and will continue to innovate new features to enable its users to learn and earn from one another. For more information, visit www.metails.com.
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