Marex.com getting $43M and Genmar as a partner
Article Abstract:
Business-to-business e-commerce firm Marex.com has received $21 million in private-placement financing with another $22 million to follow. In a statement dated Mar 7, 2000, Marex reported that it had completed the first tranche of the private-placement financing via the sale of 210,000 shares of convertible preferred stock. The second tranche worth $22 million will be released when Marex's common stock is listed on the NASDAQ exchange or 60 days after the completion of the first tranche.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2000
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Marex lost $23.7M for second quarter
Article Abstract:
Miami, FL-based Internet start-up Marex.com has posted continuing losses for 2nd qtr 2000 and six months ended Jun 30, 2000 as it strive to build its business-to-business marketplace. It recorded revenues of $1,165 compared with $1,818 for the 1999 quarter. Its net loss increased to $27.3 million fro a net loss of $720,403 for the 1999 quarter. Company officials believe that revenues were slightly down in the 2nd qtr 2000 becuase customers are still becoming accustomed to its classifed and auction products.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2000
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Marex execs upbeat despite a huge loss
Article Abstract:
Marex.com ended FY 2000 with a net loss but the Miami electronic commerce company expects to become profitable by the end of FY 2002. Speaking at a conference call with investors and analysts, Marex Pres Michelle Miller said 2000 was a year of development but 2001 will be a year of growth and implementation. Together with CEO David Schwedel, Miller talked about the launch of version 2.0 of Marex's e-commerce procurement system and having its stock listed on Nasdaq.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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