Paul Allen investment vehicle Mercata Inc opens its online store today, Monday May 17, with a model that differs markedly from e- commerce predecessors like eBay Inc. Mercata brings large groups of consumers together for PowerBuys, limited-time buying opportunities. The more consumers who decide to buy a particular item, the greater the efficiency and hence, the lower the price. Unlike auction sites, which reward the customers that are willing to pay the most, Mercata’s patent-pending We-Commerce software should help consumers obtain the kinds of discounts usually reserved for big chain retailers. Right now, Mercata offers consumer electronics, tools, health and fitness items, lawn and garden goods, gifts and sporting equipment. It hopes to add more categories and brands, and to expand into interactive cable television shopping in selected US markets next year. The company was founded in September 1998 and is privately held, with initial funding from Vulcan Ventures Inc. á
