Comments on: Swoopo get more legit … sort of http://www.mightybargainhunter.com/2009/08/29/swoopo-gets-more-legit-sort-of/ Personal finance, commentary, and spending less the easy way Fri, 19 Mar 2010 14:24:44 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: Shamoon Siddiqui http://www.mightybargainhunter.com/2009/08/29/swoopo-gets-more-legit-sort-of/comment-page-1/#comment-188967 Shamoon Siddiqui Fri, 11 Sep 2009 13:36:44 +0000 http://www.mightybargainhunter.com/?p=1777#comment-188967 The Swoop It Now feature is really interesting because it gives bidders a chance to use their bids even if they don't win. However, this shift in business model indicates that the original model was not entirely sustainable and therefore had to be changed at some point. As the Founder of a Swoopo-competitor, I'm glad to see constant innovation in the "Penny Auction" space because it means we're not all out of ideas.. at least not yet. We innovated with PriceDrip by allowing people to essentially set their own tolerance levels by using the standard "highest bidder wins" model for an auction. I'm really excited to see what happens next =) The Swoop It Now feature is really interesting because it gives bidders a chance to use their bids even if they don’t win. However, this shift in business model indicates that the original model was not entirely sustainable and therefore had to be changed at some point. As the Founder of a Swoopo-competitor, I’m glad to see constant innovation in the “Penny Auction” space because it means we’re not all out of ideas.. at least not yet.

We innovated with PriceDrip by allowing people to essentially set their own tolerance levels by using the standard “highest bidder wins” model for an auction. I’m really excited to see what happens next =)

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