Forty-nine marketers of consumer goods are to invest $250 million to fund Transora, a new business-to-business e-marketplace specialising initially in procurement and vendor cataloging. The forty-nine, whose identities have not been revealed, currently account for over $500 billion in aggregated annual sales. The scheme is expected to show a direct profit.

A second-phase development scheduled for early next year, will look to remedying inefficiencies in spot and national media buying, according to Martha Uhlhorn, vice-president for electronic commerce and category management at equity partner Earthgrains Co.

News source: Advertising Age - Interactive Daily