My first post is about a bidding business model that was brought up in class by one of my students, Mohamed.
An interesting model that involves the competitive nature of people and shopping. If you have never hear of the term “snipe” for the Internet, it means to win a bid on ebay in the last second. As defined in the Urban Dictionary.
In comes Swoopo, a company that originated in Germany but also has offices in San Francisco. Swoopo charges those who bid — as much as 75 cents each. Each bid adds time to the clock, which means there are hundreds of bids registered before an item is won. This means there is a bit of “gambling” involved. But I have noticed some interesting opportunities; this model has not been fully exploited yet. We shall discuss in class!
Here is the link to the bidding e-commerce site http://www.swoopo.com/
Thanks again for this great find Mohamed.