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General Information

Offices

Registered Office
The Courtyard, High Street
Chobham
Surrey, GU24 8AF, GBR

People

Founder and MD
Non-executive Chairman
Finance Director
Investor
Chairman & Investor
Technical Director

Funding

TOTAL $6.16M
FUNDING TOTAL $6.16M
Series A, 7/2010
Atomico
£4M

Competitors

Tags

MadBid.com

MadBid.com is a gamified e-commerce website.

MadBid.com has over 750,000 auction winners internationally and over 3 million registered users. MadBid.com operates across Europe in Germany, Italy, Ireland, Spain, France, Turkey, Austria, The Netherlands as well as the UK where the company is based.

How it works - Based on the penny auction concept MadBid.com brings gamification to shopping. There are 4 ways to shop on MadBid:

  1. Bid in Auctions: Customers need to purchase credits in order to participate in the auctions. Auction winners walk away with significant discounts on branded products like Apple, Samsung and even cars. All MadBid auctions have timers that count down, an auction winner is determined when the timer runs out and no-one else places a Bid. When someone places a Bid the timer re-starts and counts down again, at which point the auction price goes up by 1p only, thus keeping the final closing price much lower than the RRP of the product.

  2. Buy Now: If users do not win the auction, they can use all the spent credits in that auction as discount of the RRP of the product so they can purchase it.

  3. Earned Discount: If users do not wish to pay the difference between spent credits and RRP, they can simply use the value of the spent credits in the auction to purchase any product from the Earned Discount selection.

  4. Simply Click and Buy: Users do not need to participate in auctions, they can simply purchase products with a simple click and buy.

MadBid.com is part of Marcandi Ltd.

Recent Milestones

Videos

Above:

MadBid Tutorial Video

Added: 2/4/14

Screenshots

MadBid.com screenshot
Above: MadBid homepage
Uploaded: 2/10/14

Products

Buy Now

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Pay-To-Bid Auctions

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Sources

  1. Penny auction site MadBid secures £4m funding from Atomico Ventures (eu.techcrunch.com) [edit]
  2. Top 100 in Guardian Newspaper (guardian.co.uk) [edit]
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Last Edited 2/10/14

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