Ted Deikel the former CEO of Fingerhut Direct Marketing Inc. has purchased 1.8 million shares of stock from online direct marketer UBid.com Holdings Inc., approximately 10% of its outstanding shares.
Ubid .com operates a Web site offering consumer and business-to-business products at fixed prices and for auction. It offers new and liquidation products in more than 200 categories, including computer products, consumer electronics, apparel, watches, jewelry, sporting goods, home improvement products and collectibles.
The company is in the process of redesigning its Web site and adopting search engine optimization practices for measuring Internet search frequency related to specific product lines.
UBid reported it has registered more than 5 million customers and generated more than $1 billion in online sales since it was founded in 1997. Its Web site attracts more than 2 million unique visitors per month.
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