June 11, 1999 |
2TheMart.com Inc. is facing more delays with its ambitious plans to set up an Internet auction site to compete with EBay Inc. and others, an executive said Thursday. The Irvine company's auction site, which had been scheduled to debut by the end of the month, won't be operational until the fourth quarter, said Mark Rosenberg, the company's vice president for marketing and sales. Previously, 2TheMart said the Web site, which is being developed by IBM Corp.'s Global Services unit, would begin operating by June 30. 2TheMart delayed the opening while it spends more money to make sure the site can handle "high volumes of transactions," said Rosenberg, who was hired a month ago from IBM. The company is paying IBM $9.5 million to develop the site, up from $4 million.