Former CEO of Fingerhut Buys 10% Stake In Ubid

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Former CEO of Fingerhut Buys 10% Stake In Ubid

12-04-2007, 01:06 PM,

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mandy Offline

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Former CEO of Fingerhut Buys 10% Stake In Ubid

Quote: Ted Deikel, former CEO of catalog and online retailer Fingerhut, has purchased a 10% stake in the parent company of online auction site uBid.com, buying 1.8 million shares in market transactions, uBid.com has disclosed. Shares in uBid.com Holdings Inc. have traded at between 78 cents and $1.32 in the past three months.

Deikel pointed to the September appointment of Jeff Hoffman as uBid.com CEO as a factor in his investment. "I believe uBid's wealth of online selling experience, recent focus on maximizing relationships with their merchants and CEO Jeff Hoffman's unique experience in the auction and e-commerce space positions the company to win big in the multi-billion dollar online liquidation market," Deikel says.

full article: http://www.internetretailer.com/dailyNews.asp?id=24618

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