SAN FRANCISCO (03/08/2000) - Oracle Corp., Chevron Corp. and Wal-Mart Stores Inc. subsidiary McLane Co. today said they intend to form an Internet purchasing exchange for convenience stores.
Called the RetailersMarketXchange.com., the new company will target the US $200 billion convenience store and small business retailers marketplace in the U.S., the companies said in a telephone conference.
The exchange is designed to achieve savings in purchasing throughout Chevron's 8,000 owned or affiliated convenience stores, and through McLane's distribution channels. McLane delivers food and nonfood products to about 35,000 convenience stores.
"Convenience stores will be known for even more convenience," Larry Ellison, Oracle's chairman and chief executive officer, said in the teleconference.
The announcement extends Oracle's aggressive development of business-to-business Internet exchanges. It follows the November announcement of AutoXchange, a collaboration with Ford Motor Co., and the formation last month of GlobalNetXchange with Sears, Roebuck & Co. and French retailer Carrefour AG.
The RetailersMarketXchange is set to start in about three months, Dave O'Reilly, chairman and chief executive officer of Chevron said. The companies expect to earn money by charging transaction fees and licensing the software, he said.
The exchange will be based on Oracle's e-business platform and the Oracle Exchange software suite, Ellison said. Virtually any convenience store will be able to join the exchange, Ellison said. "The Mom and Pop stores will be able to participate," Ellison said.
In the coming months, Oracle plans more online, business-to-business alliances with major companies, surpassing Walnut Creek, California-based Commerce One Corp. in the total number of exchanges formed, he added.
Oracle, in Redwood Shores, California, can be reached at +1-650-506-7000, or at http:/www.oracle.com/. Chevron, in San Francisco, is at http://www.chevron.com/. In Temple, Texas, McLane is at http://www.mclaneco.com/.