December 17th, 2008
Patent pending technology first to allow instant matching of single and multi-party trades.
BarterQuest (http://www.barterquest.com), which provides a platform that supports the cashless exchange of goods, services and the use of real estate, today announced the public launch of its online barter site.
BarterQuest has created a virtual marketplace for barter that will facilitate the seamless exchange of goods, services, and real estate between individuals and businesses anywhere in the world. Modernizing the oldest form of commerce, BarterQuest has developed a patent-pending Matching engine to instantly match the “haves” and “wants” of its users. Barterquest’s proprietary technology is the first to enable multi-party trades. This simplifies barter, allowing users to easily locate trading partners and enhance the quality of their exchanges. All items posted on the site before February 28th, 2008 can be traded for free, regardless of when the trade is completed.
“Barter has enormous potential for consumers as well as organizations around the world, especially during difficult economic times. BarterQuest helps meet a growing market need by giving users a viable, innovative alternative to using money they may not have,” said Michael Satz, Chairman and CEO of BarterQuest. “To successfully navigate a virtual marketplace of millions, our patent-pending Matching engine allows users to identify and complete trades closest to their needs, avoiding the challenges associated with manual searching. Further, we are convinced that barter should and will become a key element in preserving our environment by reducing the waste associated with constantly disposing of the old and buying the new. We are delighted to make our online barter site available to the public.”
Michael Satz, Chairman and CEO; Dr. Paul Bocheck, President; and Bianca Han, Executive Vice President, comprise BarterQuest’s senior management team. Together, they have more than 65 years of combined experience in establishing and operating entrepreneurial ventures, including the founding of NYSE listed companies, in engineering software and in new product development. BarterQuest completed its first round of funding from angel investors in the U.S. and Asia.
BarterQuest supports the cashless exchange of all types of goods, services, and the use of real estate. BarterQuest provides a trading platform based on proprietary, patent pending technology that instantly matches the haves and wants of users for two party and multi-party trades. Barter is encouraged by a user friendly Web design. BarterQuest is headquartered in New York, NY and is owned and operated by JPM Global, Inc., a Delaware corporation. For more information, visit www.barterquest.com