BidNAuction - the next generation of online auctions
Founded in Bangladesh in 2009, BidNAuction is one of the world’s most innovative auction sites. Based on a unique software solution and business model, the company sells premium products like: computers, cameras, game consoles and even cars, at very low prices. BidNAuction auctions over 10,000 products per month and has more than 500+ registered customers.
Here is how it works: our online customers buy “bids” in advance. They cost $0.60 each and are sold in packs of 40, 75, 150, 400 or 1000. Bidders have the choice of placing single bids, or, using an electronic bid assistant called the “BidNAuction”.
Every bid placed, increases the price of the product by 12c and the auction countdown by up to 20 seconds. To help keep track of the money spent on bidding, each auction displays the amount spent on bids by the customer and how much the bidder would save overall, if they won the auction at that moment.
The ‘last bidder standing’ when the countdown reaches zero, wins the auction – usually at a very low price; winners save, on average, 65% when compared to the recommended retail price.
BidNAuction was successfully launched its different language pack followed by many popular languages, In the near future more countries are going to be added.
What makes BidNAuction so unique?
We are an Internet company with a unique, worldwide business model. All of our auctions are buzzing from the first to the last second. Every user can get top of the range, brandname products for extraordinarily low prices.
Behind the scenes at BidNAuction
BidNAuction.com is operated by Soft Tech Innovation Ltd., located in Dhaka, Bangladesh. We are a young company, but have passed the start-up phase and are now generating solid profits and growing strongly. We take pride in being motivated and able to make decisions quickly with our streamlined organization and strong work ethic. We have an open door policy for all employees and short lines of communication.
The entire company is becoming internationalized step by step; all of our official communication is in English.
We all have the passion and ambition to carry the BidNAuction idea from its origin in Munich to the rest of the world, on the way establishing the company as a major international e-commerce player. We work hard towards achieving these goals – and like to enjoy ourselves at the same time. Our head office is located at Chittagong, Bangladesh and our development and marketing operation gets operated from Dhaka.
