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In the Press

Polymerupdate.com launches 'Dial AnUpdate' Business Standard 23 March 2001

POLYMERUPDATE.COM, a B2B plastics-related site, has tied up with Telivoice, to offer its price and news feeds via the telephone. Plans are also afoot to introduce "voice commerce" through this medium. Telivoice is the brand name for a service offered by the US based Navin Inc, a company founded by Vishwas Godbole. Sabeer Bhatia of Hotmail fame is co-chairman of the company.

Polymerupdate.com's chief executive officer Saijid Mitha said that the "Dial An Update." service would be launched by March 19, while the voice commerce service would be ready for launch in the "new fiscal".

Mr. Mitha said that given the volatility in resin pricing, It is vital for producers. processors and traders to get price and news updates as it helps streamline inventory management, raw material purchases etc. "At the cost of a local call, you can now access the latest news/price updates, through any touch tone phone in India and across select overseas locations," he said. NavinMail's services are available in the US, UK, Australia and Philippines, among others.

The site's proposed voice commerce service will entail a one-time registration fee of Rs 160. plus Rs 360 per annum. Besides, a Re I per minute fee is payable to telivoice, with an average call lasting for three minutes.

Polymerupdate says that if the call helps you save Re I/kg on an average consumption of two-five mt/month, it results in direct monthly savings of Rs 2000-Rs 5000.

This service also facilitates demand aggregation where if a buyer pool is incomplete and a customer wishes to complete the pool, this can be done over the phone after conducting a credit check. Polymerupdate charges both buyers and sellers a minimal fee under the demand aggregation model given that both parties benefit from price discounts.

Though polymerupdate.com depends on multiple revenue streams. Mr. Mitha expects trading to contribute significantly to the site's earnings flow from April onwards.

"We expect to handle a minimum 1,500 T to 2,000 T online and hope to break-even by April 2002," he said. Polymerupdate's trading platform has been developed by polysort LLC of the US.

Once a deal is sealed online, the transaction Is taken offline. Polymerupdate.com gets paid a listing fee (listing the product the seller wishes to sell) and an access fee (access listings made by buyers), both chargeable to the supplier.

Polymerupdate.com, which is backed by Polyset and Bright Brothers, assists customers In reading market trends, follows price movements on a real time basis, besides facilitating trading and effective line Inventory management.