Scott Blum: A Computer Dealer Turns Media Maven
Buoyed by the growth of his online computer store, Scott Blum, CEO of Buycomp.com, is ready to take on Amazon.com and Reel.com in books and videos. Buycomp claims sales of $86 million in its first 11 months. Now, Blum is buying SpeedServe, the Internet division of Ingram Entertainment, the top movie and videogame distributor. And he has a deal in the works with distributor Ingram Book Group.
Unlike Amazon and other retail sites that offer chat and other amenities, Buycomp focuses on low price. "We think the model can be applied to many different vertical markets," says Scott Russell, a general partner of Softbank Technology Ventures, which owns 20% of Buycomp.
Blum plans to rename the company Buy.com and the new online stores Buymovies. com and Buybooks.com. He's also searching for a new CEO and aiming to take Buycomp public in 1999. Blum, who two years ago settled with the SEC over charges of inflating results at Pinnacle Micro, a company he co-founded, figures he'd fare best as Buy.com's official visionary.