| Website | negobuy.com |
| Blog | blog.negobuy.com |
| @NeGoBuY | |
| Category | eCommerce |
| Employees | 4 |
| Founded | 12/09 |
| Description | Reverse Bidding and Local Deals |
| TOTAL | $250k |
| VENTURE FUNDING TOTAL | $250k |
| Seed, 12/09 Mark Mayer | $250k |
NeGoBuy is a cool site which will help you to reverse bid for item you buy from a shop/merchant near you. They make your shopping even more interesting by sharing it with your friends and also let you whip your friend’s deals (only if your friend lets you :)
A reverse auction is a type of auction in which the roles of buyers and sellers are reversed. In an ordinary auction (also known as a forward auction), buyers compete to obtain a good or service, and the price typically increases over time. In a reverse auction, sellers compete to obtain business, and prices typically decrease over time.