Buy.com began by selling computers and electronics in 1997 and has since expanded into other categories. Buy.com initially sold items below cost and intended to make up for losses "from the sale of advertising and ancillary services like warranties and equipment leases." Buy.com sold $ 111 million worth of goods and services in 1998, its first full year, beating Compaq's record for most first-year sales of each company. Founder Scott Blum sold the stake to SoftBank in 1999 to $ 195 million just before the company first filed to go public stock value plummeted in the year after the initial public offering and Buy.com in 2001, Blum bought back and pick it up Buy.com. private for 17 cents per share. In 2002, Buy.com decided to go beyond mere sales of electronics, movies and music and began to gently add more items to their catalog. This is the same Blum extended welcome to Amazon.com customers. Appeared in the Wall Street Journal, Blum addresses the Buy.com Amazon customer promise will prove itself as a better buying choices. This statement came shortly after announcing Buy.com 10% below the cost of Amazon.com on all books sold on the site and site-wide free shipping offer. Later that year the first edition from Buy.com launches BuyMagazine. Buy.com is then converted to all-digital magazine publications. When Buy.com updated its website in 2006, announced a marketplace that allows consumers to buy from different vendors with only one account is needed to process their purchases At launch, Buy.com has the 100 market vendors;. the company now works with thousands of sellers that collectively offer 11.5 million products. The company has become the second company in the history of eBay to accept more than 1 million positive customer reviews, and holding a satisfaction rating of 99.7%.
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