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Buscape to hit profits in 2004 - Brazil .
(From Business News Americas)
Byline: Gary Washburn
(BNamericas.com) - Brazilian price comparison portal Buscape expects to report profits for the first time this year, after opening up shop in 1998 and reaching operating breakeven in mid-2002, Buscape chief executive Romero Rodrigues told BNamericas.
This year's revenues will be between 4.5mn reais and 5mn reais (US$1.57mn - US$1.75mn), Rodrigues said. The site attracted 1.7 million individual visitors in September, up nearly threefold from September 2002, and expects to report two million visitors during the Christmas season.
The company survived the dotcom blowout because unlike most Internet companies it never depended on advertising revenues, Rodrigues said.
Instead, the company charges online retailers commissions for featuring or selling their items, he said. Buscape has also sold its search engine technology to major Brazilian e-tailers such as Americanas and Magazine Luiza.
The latest strategy is to offer price comparisons for offline products such as bank rates, he said. ...
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