Paper Buyers Catch "e-Wave"

That expertise has also translated into success. From March through November 1999, PaperExchange set nine consecutive records for first-time-user sessions, in terms of Web activity. One year ago, it boasted 250 members, a total which has swelled to more than 2,700 in 75 countries.

The formula for becoming a trader on PaperExchange is a common one: A buyer or seller logs on to investigate the site and to access its content, then is drawn to the trading floor to see what types of products are available. PaperExchange maintains an extensive user profile and tracks how long it takes, from the user's first visit, to conduct a transaction. One common trait among PaperExchange traders, according to Carroll, is that they're all early adopters of new technologies.