(nasd) ARTG $3.66Mobile Commerce Innovator Wins First ATG e-Commerce Ingenuity Business Plan Competition
Wednesday, April 30 2008 - 7:35
$-0.10 (%-2.66)
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
ATG (Art Technology Group, Inc., NASDAQ: ARTG), the top ranked e-commerce platform and optimization services provider, today announced the winner of the first ATG e-Commerce Ingenuity Business Plan Competition.
MinuteBank was selected by the panel of judges as the $50,000 first place winner, and won over an audience of over 600 attendees as the $10,000 people's choice winner, selected by SMS voting live at the event.
As a mobile commerce (m-commerce) solution, MinuteBank plans to offer millions of mobile phone subscribers in developing nations a better way to manage their prepaid mobile phone plans. The solution is delivered as a new kind of bank account, a Personal Mobile Minute Account. This business plan focuses on a new potential market in m-commerce, whereby consumers use mobile phones to connect and transact. In emerging economies, where investment in the internet and accompanying hardware are beyond the means of both consumers and their governments, the mobile phone is fast becoming a leading medium for e-commerce.
MinuteBank founders are currently pursuing their MBAs at the UC-Berkeley Haas School of Business, and came together to fill an unmet need in the pre-paid mobile phone market, which is especially prevalent in developing nations like India.
Cliff Conneighton, ATG Senior VP of Marketing, said, "I want to congratulate MinuteBank and thank all of the other competition finalists for participating in this event. It's clear that a huge amount of thought and effort went into every one of their presentations. All the presenters have amazing things ahead of them. They are the next business leaders to watch."
Just prior to the finalist presentations, ATG e-Commerce Insight Live 2008 keynote speaker Hung LeHong, Research VP of Garntner research, spoke about the growing importance of mobile commerce, and e-commerce transactions on platforms other than PCs.
"We want to thank ATG and the participants at ATG Insight Live for giving us this opportunity. This was a really exciting event and a thrill to present," said Russell Tillitt, CEO of MinuteBank, who presented the plan. "This award is going to be so instrumental in taking MinuteBank to the next level," added Bethany Nelson, MinuteBank's COO.
ATG will be watching the development of MinuteBank and keeping track of its progress.
About ATG
ATG (Art Technology Group, Inc., NASDAQ: ARTG) provides the e-commerce platform and e-commerce optimization services that the world's most customer-conscious companies use to power their e-commerce Web sites, attract prospects, convert them to buyers and ensure their satisfaction so they become loyal, repeat, profitable customers. Our e-commerce suite is ranked the #1 current offering and #1 in strategy by the industry's most influential analyst firms, and powers more of the top 300 internet retailers than any other vendor. Our eStara brand of e-commerce optimization services - including the world's most widely used click to call offering - dramatically increase conversions and order size and enhance customer support. ATG's solutions are used by over 900 major brands, including AT&T, Best Buy, Bulgari, Coca Cola, Continental Airlines, CVS, Dell, Diane von Furstenberg, DirecTV, eLuxury, El Corte Ingles, Expedia, France Telecom, Harvard Business School Publishing, Hewlett-Packard, Hilton, HSBC, Intuit, Jenny Craig, Louis Vuitton, Macy's, Mercedes Benz, Meredith, Microsoft, Neiman Marcus, New York & Company, NutriSystem, OfficeMax, PayPal, Philips, Procter & Gamble, Sears, Sony, Symantec, Target, T-Mobile, Tommy Hilfiger, Urban Outfitters, Verizon, Viacom, Vodafone and Walgreens.
For more information about ATG, please visit www.atg.com.
(C) 2008 Art Technology Group, Inc. ATG and Art Technology Group are registered trademarks, and ATG Wisdom is a trademark of Art Technology Group, Inc. All other product names, service marks, and trademarks mentioned herein are trademarks of their respective owners.
This press release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause ATG's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important risk factors affecting ATG's business generally may be found in its periodic reports and registration statements filed with the Securities and Exchange Commission at www.sec.gov. Risk factors related to the subject matter of this press release include the possibility that the ATG product deployment will not be successful, on time or significantly enhance the user's Internet experience or will not increase customer revenue across brands; that those customers leveraging ATG will not have the opportunity to increase revenue and decrease future costs; the need to adapt to rapid changes so products do not become obsolete; the possibility of errors in ATG's software products; the possibility that the solution will not make customer implementations faster or more flexible or permit the customer to meet its customer-facing or infrastructure requirements; that the ATG product will not continue to be integrated with third party applications servers or will not support all Web services enabled systems; that ATG's product strategy may change in the future; and the risks and costs of intellectual property litigation. ATG undertakes no obligation to update any of the forward-looking statements after the date of this press release.
Source: Art Technology Group, Inc.
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