ExtremeBidder.com is an online auction site that provides users the opportunity to purchase premium retail items such as homes, automobiles, boats, jewelry, electronics, flat-screen televisions, computers, laptops, smart phones, tablet computers, desktop computers, game consoles, gift cards, vacations, restaurants, fine dining, spa, massage, sporting events, travel and gift cards at extreme values. SNNLive spoke with Sean McClay, CEO of ExtremeBidder.com at the National Investment Banking Association (NIBA) 2012 in New York City.
Mr. McClay begins by telling SNNLive, ”what we are is an online penny auction company. It is a pay to play model, and basically, all of our users sign in, they buy bid packs and they get things at extreme discounts“, where, for instance, “we had a $50 gas card go for $3.43 to an individual.” He goes on to explain how ExtremeBidder.com works: ”each time a bid is made, it costs somebody a dollar, the price of the product goes up a penny. Therefore, if you make a bid for a penny, it costs you a dollar…$500 is $50,000, $18,000 prize, $50,000, not a bad return.”
“Not only do we do the core business, which is the auctions, but then we do advertising with specific companies on the back end for additional revenue”, Mr. McClay concludes. For more information about ExtremeBidder.com, check out the website, and you can follow them on Twitter @ExtremeBidder. SNNLive welcomes Sean McClay, CEO Of ExtremeBidder.com.
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