BuzzCity expects to earn US$1 million by end of 2000

Kuala Lumpur, Feb 22 (Asia Pulse) - Buzzcity, a unique free web-based service which notifies Internet users when new information is added to popular web sites of their choice, expects to earn a hefty US$1 million before the end of 2000 via advertising contracts.

According to its co-founder and chief executive officer, Dr Lai Kok Fung, the encouraging figures shown in the first quarter of this year would serve to indicate that the projected sales target could be achieved. "In February alone, we closed above S$100,000 worth of advertising contract and the numbers are increasing very rapidly. So the figures (US$1 million) may have to be revised because of the great response we are getting," he said at a press conference after launching the Malaysian version of Buzzcity here Tuesday.

He said that advertising revenue on the Internet was very encouraging and the company was going all out to ensure that Buzzcity secures more "eyeballs" in order to bring in more advertisers. Dubbed "The Internet's Postman Of Choice", Buzzcity was founded in Singapore in February 1999 by Dr Lai and a few friends who first began by working on technologies involving vertical Web portals and information at the Kent Ridge Digital Labs (KRDL). Believing that information tracking should be made freely available to all Internet users, rather than just serving government and academic interests, the team customised the information tracking technology into a user-friendly Internet track-and-alert service which would provide mass appeal.

In July the same year, the company received venture funding worth S$3 million (RM6.7 million) from OCBC, Wearnes and Walden Management, and Singapore Press Holdings Multimedia Pte Ltd. Users can access Buzzcity on the Internet at www.buzzcity.com while the Malaysian version which was launched today can be visited at http://malaysia. buzzcity.com

One only needs a valid e-mail account to sign up for Buzzcity's services which cover a whole range of topics such as news, entertainment, travel, leisure, sports, stock market reports and even job postings. They would then be alerted through their e-mails or Internet messenger services on the latest of their preferred subjects. To date, Buzzcity has 800,000 registered members and expects the number to hit the one million mark by the first quarter of this year.