e-Negotiations Are In, Price-only e-Auctions Are Out

[From iSource Business, June 2001] Jagadish Turimella is a man of many titles: co-founder, chief technology officer and chief operating officer. He fills all of these positions at NutraBid, a B2B e-commerce service provider boasting an e-marketplace focused on nutraceuticals. But the New Jersey-based company's head honchos would be wise to add the moniker matchmaker to Turimella's roster of corporate titles. After all, it's Turimella who oversees the operation of a company committed to uniting buyers and sellers, not just for straightforward buying and selling, but for sophisticated online negotiations.

Launched in April of 2000 and owned by NB Ventures Inc., NutraBid has experienced astounding success. In recent months, the company's customer base has blossomed, revenues have doubled and tens of millions of dollars' worth of nutritional ingredients have traded hands on the online outfit.

But, it was the introduction of e-negotiation tools that truly contributed to NutraBid's exponential growth. In September of 2000, NutraBid introduced Moai Technologies Inc.'s LiveExchange online negotiation solutions, enabling buyers and sellers to negotiate transactions online and in real-time. A San Francisco-based e-commerce infrastructure provider, Moai offers online negotiation solutions that promise to lower supply costs and raise profit margins. And it's precisely this cutting-edge technology that has rendered Turimella a modern-day matchmaker.