Philosopher's Stone Ventures, PremiumCHAT and SBN.com
Launch Monetized Instant Messaging Software at Internet
World
Los Angeles, CA, March 14, 2001 -- Philosopher's Stone
Ventures, PremiumCHAT and SBN.com successfully announced
the launch of SBN.CHAT at this year's Spring Internet World
at the Los Angeles Convention Center to allow businesses
to charge for online advice and counsel.
The PremiumCHAT software - built by Philosopher's Stone
Ventures - consists of: (1) a secure channel through the
Internet by which professionals can provide their services;
(2) a negotiation module that allows both the client and
the Business Service Provider (BSP) to confirm the price
for services; (3) a tracking module that confirms the time
over which the services were provided; and (4) Merchant
Account integration which allows the services to be immediately
paid upon delivery. The initial release of the product will
be in partnership with SBN.com, the world's largest online
yellow pages, as a key offering for businesses to connect
with their clients.
According to S. Ramesh, President and Chief Software Architect
of Philosopher's Stone Ventures, "The interest we received
at the show was a clear indicator of the public's anticipation
for this product." Millions of consumers and hundreds
of thousands of "experts" are already meeting
online in order to seek and dispense advice (source: Media
Matrix). Attempts to monetize these transactions have been
met with support from all constituents, but an effective
tool for doing so is not currently available. PremiumCHAT
provides a solution, and is scheduled for release on or
around May 1, 2001, to a limited pilot test group.
For additional information, contact:
Brenda Harris
Philosopher's Stone Ventures
Telephone: (310) 316-3100
Fax: (310) 316-9500
media@philstone.com
http://www.philstone.com
The Philosopher's Stone is a mythical substance that can
transform lead into gold, and produce the Elixir of Life
that makes the drinker immortal. Philosopher's Stone Ventures,
as a technology incubator, has similar transformative powers:
turning the innovative ideas of our entrepreneurs into successful,
groundbreaking, money-making businesses.
