CULVER CITY, Calif., Feb. 19, 2010 (GLOBE NEWSWIRE) -- Bidz.com, Inc. (Nasdaq:BIDZ), a leading online retailer of jewelry, announced today that it has partnered with the American Red Cross branch in Santa Monica, California, to support the residents of Haiti as they recover from the devastating effects of the catastrophic earthquake in January.
Bidz has raised nearly $20,000 and will continue to conduct 24 auctions per day that are solely dedicated to the relief efforts through April 1, 2010. 100% of the proceeds will be donated to the American Red Cross. For more information you can visit: Haiti Earthquake Relief Charity Auction.
"We are extremely grateful to be able to partner with our customers and the Red Cross to help meet the needs of the Haitian people," said David Zinberg, Chief Executive Officer. "With the tremendous support of our customers, we were able to raise nearly $20,000 for the American Red Cross to assist in the recovery efforts in Haiti. We are hopeful that our continued efforts will allow us to donate even more to this worthy cause in the coming months."
About Bidz.com
Bidz.com, founded in 1998, is a leading online retailer of jewelry. Bidz offers its products through at live auction format as well as a fixed price online retail store, Buyz.com. Bidz.com's auctions are also available in Arabic, German and Spanish. To learn more about Bidz.com visit its website at www.bidz.com. Bidz also operates Modnique, a division of Bidz.com, is an exclusive private sale shopping site for members-only, offering authentic premium brand name merchandise. Modnique offers its members exclusive access to 24-72 hour sales events on designer apparel, accessories, shoes, and houseware and much more at price points up to 85% off of retail. To learn more about Modnique visit its website at www.modnique.com.
Safe Harbor Statement
This press release includes forward-looking statements about the Company's estimated revenue and earnings within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this release, including statements regarding the Company's future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions, as they relate to the Company, are intended to identify forward looking statements. We have based these forward-looking statements largely on current expectations and projections about future events and financial trends that we believe may affect the Company's financial condition, results of operations, business strategy and financial needs. Risks and uncertainties include that our common stock is subject to short selling and trading, and prices of our stock may be volatile; that we are subject to "prank" bidding; that we may face increasing costs to acquire new customers; the ability of the Company to attract customers to its website and offer attractive products; the ability to maintain profit levels while expanding international sales; the ability to detect fraud if we fail to maintain an effective system of internal controls; the ability to maintain our website, electronic data processing systems, and systems hardware; the ability to forecast accurately net revenue and plan for expenses; that we do not have a guaranteed supply of jewelry products and that we have a heavy concentration of inventory purchase from our top two suppliers; the ability to protect our intellectual property rights; and potential litigation and government enforcement actions that may result from our prior securities offerings. Please refer to Bidz.com's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Bidz.com undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.