Newegg.com sets up product development/IPO headquarters in Taiwan

ShortyShorty Manchester, UK Icrontian
edited September 2004 in Science & Tech
Newegg.com, a US-based online store for computers and electronics products, will set up its product development/IPO (international procurement office) headquarters in Taiwan, said Simon Hsieh, president of Newegg.com Taiwan branch.

Newegg.com was established in 2001 and had revenues of US$526 million in 2003, making it the sixth-largest online computer and electronics vendor in the US, ranking behind Dell, Best Buy, Circuit City, eMachines, and Buy.com, Hsieh said, quoting a US-based Hitwise report.

Newegg.com expects its revenues to hit US$1 billion this year and increase to US$2 billion in 2005, and the company plans to list its shares on the NASDAQ stock exchange next year, Hsieh said,

Newegg.com has warehouses in California, Tennessee and New Jersey and controls its own inventory, unlike other IT brand vendors and large-scale distributors, which store their inventory at their suppliers’ warehouses, Hsieh explained.

Newegg.com also aims to help Taiwan IT makers promote their own-brand products in the US, Hsieh said.

Hopefully this will lower prices at the Egg even more!

Submitted by: muddocktor

Source: DigiTimes

Comments

  • ThraxThrax 🐌 Austin, TX Icrontian
    edited September 2004
    WOOHOO!

    Some of the things the Asian manufacturers are coming up with are fantastic, especially things displayed at Computex that never really land on this side of the of prime meridian. It's good to see Newegg is doing so damn well.. They deserve it!
  • Geeky1Geeky1 University of the Pacific (Stockton, CA, USA)
    edited September 2004
    Holy ****. I didn't realize Newegg was that big.
  • entropyentropy Yah-Der-Hey (Wisconsin)
    edited September 2004
    You didn't?! Newegg is the new World Government. In conjunction with Google, of course ;) The Dynamic Duo!
  • ThraxThrax 🐌 Austin, TX Icrontian
    edited September 2004
    Newegg is cheap, and google never lies. Sounds like a fiscally sound, truthful government to me!

    GOOGLE AND NEWEGG FOR NEW WORLD ORDER!
  • b0wzb0wz Tri-Cities Washington, USA
    edited September 2004
    Not only cheap, but great service..........I luv em' , hope they just get better......
  • NosferatuNosferatu Arizona
    edited September 2004
    NewEgg rocks, they deserve all the every penny of their profits, they EARN it with customer service & low prices.
  • WestCoastWestCoast
    edited September 2004
    I was amazed when i saw the inside of ONE of the warehouses that newegg has here in L.A. Every computer geek's dream. My jaw was on the floor for hours. :bawling:
  • CreepCreep Hell Icrontian
    edited September 2004
    Looks like I better save up and call the stock broker!
  • danball1976danball1976 Wichita Falls, TX
    edited September 2004
    Hmm, a very good reason to start investing again. NewEgg and Google, a very sound set of companies to have in a portfolio.
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