eCommerce - Friday, July 17, 2009
PriceDrip Seed Funded For Take On Swoopo's Reverse Auction Biz
Monroe Township, NJ's PriceDrip has raised an undisclosed amount of seed funding from 2G Associates. PriceDrip acknowledges that it competes with Swoopo in what has become known as the pay-to-bid reverse auction space. The concept is that auction prices drop as bidders pony up and contribute to the sellers cost. It has worked very well for Swoopo. PriceDrip says it is better because it provides more information on how likely you are to win the product. They also say that ads contribute to lowering item costs, although we don't buy that for a second. For every thousand visits to a product page they get only a few bucks at best.
The startup is led by Shamoon Siddiqui who was COO and Co-founder of BookSwim, an online lending library.
View - site
More Recent Articles
Petra Solar Raises $40M For Utility Pole Panels
Tuesday February 9, 2010
Petra Solar out of South Plainfield, NJ has raised $40M in 2nd-round funding. Craton Equity Partners and Espírito Santo Ventures co-led the round and were joined by return backers Element Partners, Blue Run Ventures, OnPoint Technologies and Kuwait... Full Story
Audio Transcription's 3Play Media Seed Funded
Monday February 8, 2010
Play Media, out of Somerville, MA, has secured $450K of a $600K seed funding round. 3Play works on transcription, captioning, and audio search. Clients pay 3Play to use technology to convert audio recordings to text and then to clean up the errors w... Full Story
Categories
- Venture Capital (288)
- Advertising (451)
- Aircraft (17)
- Alternative Energy (299)
- ASP (39)
- Batteries (10)
- Biometrics (3)
- Biotechnology (9)
- Communications (63)
- Digital Hollywood (18)
- Digital Home (35)
- eCommerce (468)
- Educational Software (31)
- eHealth (31)
- Email Software (7)
- Enterprise Software (260)
- Euro Ventures (129)
- File Sharing (23)
- Financial Software (43)
- Food (3)
- Games (185)
- Hardware (46)
- Homeland Security (7)
- IMterviews (6)
- IPO (42)
- Jobs (49)
- Media (360)
- Nanotechnology (14)
- Networking (95)
- News & Updates (1387)
- Online (17)
- Peripherals (42)
- Photo Software (49)
- Publishing (9)
- RFID (3)
- Robots (15)
- Satellites (8)
- Search (209)
- Security (95)
- Semiconductors (75)
- Social Networking (426)
- Space (1)
- Sponsored Post (11)
- Storage (41)
- Tech stocks (308)
- Telecom Equipment (16)
- Transportation (3)
- Video (234)
- Voice (67)
- Web 2.0 (140)
- Web Development (8)
- Where Are They Now (30)
- Wireless (384)
i joined pricedrip.com, for free, i bought a bid pack for $10.00. i was skeptical at first, but i bid very low on an apple mac pro, originally priced at about $2500.00, i bid $1432.10, and won it...they shipped it to me for free...shipping is always free....ya gotta love it !!!!
Posted by: bill ciampa at July 17, 2009 03:52 PM
This business model is gambling, plain and simple. (PriceDrip's explanation of 'odds', ironically highlights the gambling aspect, while attempting to reduce it. )
Anyone who thinks product-based online casinos like Swoopo are good long term investments had better have friends in DC.
Posted by: Popo at July 19, 2009 03:09 AM
Post a comment