New Auction Website Sells Advice, Expert Opinions

Expert Advice Site Adds New Auction Engine

When the Information Superhighway known as the Internet was introduced to the public in the 1990s, the possibilities appeared endless. Just one visit online now reveals a near infinite web of words and images. The problem, find many Internet users, is that the existing information may not be reliable or easy to find.

To help cut through this cyber clutter, one innovative new site offers web surfers the opportunity to ask specific questions and receive answers directly from experts. At SwapSmarts.com, users can ask questions about everything from business and financial advice to family and relationship issues. The questions are
posted publicly (although the users identity can remain anonymous) and experts may bid to provide advice for a fee.

Joining SwapSmarts.com is free for both users and experts. The site makes money by retaining a small commission of the fees that experts command.

To date, the most successful auction website, and arguably the most successful website in general, is eBay. With a profit of over $48 million in 2000 and well over 25 million registered users, eBay has become a cultural reference point. Experts say that eBay owes its success, in large part, to the sense of
community it promotes through person-to-person contact.

In her book, Evolve! Succeeding In the Digital Culture of Tomorrow (Harvard Business School Press, 2001), Rosabeth Moss Kanter, a Harvard Business School professor, points to eBay as an
important business model in the new economy. Kanter emphasizes the importance of principles rooted in social interaction as well as doing business; she asserts that a sense of community fosters loyalty.

"Success as an e-business is only partly about technology," says Kanter. "[Its also] about people and values and how you deal with the interactivity and new creative potential of the
technology."

Other successful person-to-person e-businesses include the electronic payment system PayPal.com (recently purchased by eBay) and Classmates.com. Classmates 28 million users log on purely to
gain information; in 2001, the site brought in $35 million in revenue.

On the overcrowded Information Superhighway, SwapSmarts.com offers something no other site promises: person-to-person information for auction within a community setting.

"Theres a lot of information out there," says Chris Kalaboukis, CEO for SwapSmarts.com. "Within our unique knowledge trading community, we provide a monetary incentive for experts to answer users questions. Our business is helping people find the exact answer to their exact question, guaranteed."

Questions posted on SwapSmarts.com may be answered for as little as 10 cents. The site also offers a variety of insightful articles. For more information, visit SwapSmarts.com.

For more information, contact:
Chris Kalaboukis
SwapSmarts.com
8243 147th AVE SE
NewCastle, WA 98059
Phone: (408) 404-7755 x 255   
Fax: (408) 371-7755   
Website: www.swapsmarts.com
E-mail: press@swapsmarts.com

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