VANCOUVER, Feb. 1, 2001 (PRIMEZONE) -- Globetech Ventures Corp. (OTCBB:GTVCF), developers of world-class Web site and e-mail language translation technology, announced today that Dilbagh Gujral, the company's president and CEO was recently interviewed for an online feature with the Wall Street Reporter. The contents of the online interview are currently accessible at the Wall Street Reporter's financial information Web site at www.wallstreetreporter.com.
In the interview, Mr. Gujral discusses Globetech Venture's growth strategy and market position in the expanding international scope of Internet communications. Globetech Ventures, through its TranslationWave solution, addresses the communication needs of the 70% of online users who do not speak English as their first language. The company's solutions enable businesses to instantly translate all types of online data into nine different languages with just a click of a button.
"Our Web site translation technology service is by far the most advanced and comprehensive solution of its kind," says Gujral. "The purpose of the Internet is speed, but somewhere along the way a language barrier developed, and now over 90% of all online content is in English. With our TranslationWave technology, we have now made it possible for companies around the world to communicate easily, no matter what language they speak. By enhancing global communications, this technology unites businesses and consumers from around the world that would not have had the ability to communicate prior."
"We can translate everything from Web site content, documents, forms and archives to words, phrases and e-mail messages in real time or delayed formats. TranslationWave's online communication center allows users to type in their native language and have the text immediately converted to the output language that the recipient has chosen. We are targeting emerging foreign markets that want and need to expand worldwide. Interest is already high and demand is growing very fast. Since we launched in December of last year, we have been doubling in size every two weeks, without the help of any significant advertising or promotions," comments Gujral.
Over 200 million future Internet users from China, India, Japan and Taiwan are expected to be online by 2003, creating what International Data Corp. (IDC) estimates to be a $378 billion market for the translation of online text. The recent entry into this market sector by such well known names as IBM (NYSE:IBM) has done much to highlight its enormity.
"As you might expect, IBM's involvement adds instant credibility to this promising growth sector. The benefits of this type of technology are obvious since 80% of online content is available only in English while nearly 70% of all PC users don't use English as a first language. One of the driving forces of the Internet is the fact that it enables you to get your message out to a global audience. But organizations must be able to work and communicate in other languages if they are to attract the attention of potential customers, shareholders and partners around the world. Companies doing business online should come to realize very quickly that unless they make their content available to the vast untapped segments of Internet users who don't speak their native languages, they'll never realize their full potential," adds Gujral.
The Wall Street Reporter is a premier information source for professional investors seeking new investment ideas and detailed, firsthand information on dynamic companies in a variety of industries. The Wall Street Reporter provides unbiased perspectives and does not render any type of investment recommendations or give advice on buying or selling securities. The interview with Globetech Ventures is part of the Wall Street Reporter's free services, and should not be interpreted as paid content.
About TranslationWave.com
TranslationWave is a leading translation application service provider (ASP) that converts the Internet into a truly universal platform of communication. This is done through three key products that are offered by TranslationWave:
-- Web site translation -- E-Mail translation -- Universal translation icon (Interprenet)
The first two products are created specifically for existing Web sites to upgrade their current capabilities. The third product, which is set to launch in the second quarter of 2001, is for individuals who surf the Internet. Interprenet allows for surfers to translate any page, which they are on, to their desired language. If for example, an English-speaking user lands on a page that is in German, the Interprenet icon is used from the Internet browser bar and converts the page; it is a virtual universal translator that accompanies the users every move.
The actual TranslationWave Web site is a platform that demonstrates the products that are offered. It shows the capabilities of the technology that is available to clients who recognize the competitive advantage that translation solutions offer. TranslationWave is an ASP that will capture this huge untapped market and make the Internet a truly global marketplace. Our business solution packages offer the smallest to the largest Web sites, from small businesses to corporations, the capability to increase exposure to foreign users as well as users who can not speak the language which your Web site is currently in. In addition to this, TranslationWave can create internal email systems, which have translation capability. Perfect for multinational corporations to communicate with global offices, as well as the ability for businesses to send and receive translated emails.
TranslationWave provides a dynamic online venue that offers the conversion of many different languages from emerging foreign Internet markets. TranslationWave offers a complete package of services including chat room capabilities, e-mail, phrase, document and Web site translation. TranslationWave currently provides translation to and from English, Spanish, Portuguese, Italian, Japanese, German, Korean, Chinese, Russian and French (with Arabic and Dutch on the way). E-mail, chat and keyboard practice applications also support communication in a total of 38 international languages. The end result is simple; in striving to gain as much exposure as possible, one must not overlook the potential of non-English speaking markets. TWave Business Solutions offer E-Businesses the capability to broaden their reach, thus allowing increased growth in all aspects. For the Internet to be a global marketplace and become a reality, there can be no language barrier.
For further information, please visit the company's Web site at www.globetechventures.net or contact Alan Brown, Vice President - Marketing at our head office at 1-800-298-0244.
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