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| Stock Symbol: MGW (CDNX) News: Forums: |
On January 13, 2000, the streets of
downtown Toronto's Union Square became a car lovers dream
with a fleet of Hummers, a Ferrari, a Lamborghini and a
Rolls Royce on display. The occasion? The Globe and
Mail and Megawheels.com launched the Toronto edition
of their new joint venture - GlobeMegawheels. Founded in 1996, the company has been prospering and growing with its website advertising new and used cars for sale for both dealers and individuals. Although the company had established a promising alliance with Bid.com, it was a deal with the Globe & Mail in late 1999 that finally brought Megawheels.com to the big time. Megawheels auto ad website changed substantially with the agreement. It's now a corporate site. The auto advertising portion has been incorporated into a new site - globemegawheels.com - part of the Globe & Mail's extensive set of websites ranked as one of Canada's top Internet destinations with 35 million page views a month. The French portion of Megwheels.com's site remains at the original site. The Globe & Mail also added a new section called MegaWheels to the newspaper, giving the website even greater exposure. The deal integrates classified car for sale ads with the power of the Internet. The insert was rolled out in various cities across Canada during the test phase and finally launched in Toronto on January 13th. With the clout of the Thomson Corporation behind it, Megawheels will have an even larger reach than it did before. And this has been reflected in the stock price which rose 64% in the first two weeks of January. Shares Outstanding: 10,611,570
Address: Phone: 403-341-0566 This page last updated: Jan. 16, 2000 |