Company Overview

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Founded:
2001
Founders:
Ali Saadat, Stephen Candelmo
Headquarters:
Vienna, VA
Funding:
$2M
Categories:
E-Commerce, Governments, Commodities, See All (6)

FedBid operates an online marketplace designed to optimize how governments, businesses and institutions purchase goods and services.

Description

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FedBid, Inc. operates the fully managed FedBid® online marketplace, revolutionizing how the government and businesses buy. By creating a new world of ‘FedBid-able’ buying, where the principles of opportunity, transparency and competition prevail, FedBid empowers and energizes its customers, giving them the confidence to take control of the buying process and freeing them up to focus on moving their organization forward.

History

FedBid was founded in 1999 as a division of privately-owned Procurement Technologies, Inc. of Gaithersburg, Maryland and initially raised more than $5 million in equity funding (Garage.com, Harvard Investment Group, Sun Capital Partners and other equity funds) to launch the FedBid website. The idea came to Phil Fuster (a FedBid founder) when he became frustrated with the process of bidding on an RFQ. The company ceased operations in December 2000 when it could not secure a second round of... See More

Current Team (4)

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Board Members and Advisors (5)

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Funding Rounds (2) - $2M

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Investors (2)

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  • 879702867ef60d6c40b992fe747555a8

    Blue Water Capital

    Blue Water Capital, founded in 1995, strives to generate outstanding financial returns by..
  • 827c13de2ba5e92f739fa67b6f1d10d9

    Revolution LLC

    Revolution invests in building disruptive, innovative companies that offer consumers more choice,..

Offices/Locations (1)

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  • Corporate Headquarters

    8500 Leesburg Pike

    Suite # 602

    Vienna, VA 22182

    USA