Two announcements have confirmed auction sites where potential buyers post their bids online as the latest of the hot web properties. Auction Television Inc has acquired Phoenix-based USA Web for an undisclosed sum on the strength of its Internet Auction List (IAL). The IAL was developed in 1995 as a search engine for auctioneers. Though Auction Television Inc already has a site of its own, at bidnow.com, the companies say their merger will improve security and transaction integrity in the online auction industry. Meanwhile Jerry Kaplan, the president and CEO of Onsale Inc, has told BancAmerica Robertson Stephens’ New Millennium Conference in San Francisco that his company expects continued growth. It needs it. With revenues up 178% to $50.8m, Onsale still managed to lose $4m or 21 cents per share. That performance seems unlikely to dampen the ardor of investors, who just keep bidding the auction sites up. Excite Inc recently acquired Classifieds2000 while eBay Inc plans a $64m IPO.
