7-Year Established Entertainment Auctions Company: A Prime Opportunity

This successful digital business model offers consumers the chance to win various products through a fun pay-to-participate auction model. Auctions include gift cards and new brand-name consumer products, including popular tech products like iPads and HDTVs. This company has built a large vendor and product base, with over 100 vendor partners and 10,000 unique products for users to bid on.

OPERATIONS

Primary auctions and bidding occur around gift cards and new brand-name consumer products. Winners pay the closing price and have invested bids through buying bid packs. Losers can apply their bids towards a “buy-it-now” functionality, which allows the user to apply all used bids in that auction as a credit toward the retail price of the item, thus paying the company the difference to receive the item.

This company has a large vendor and product base with over 100 vendor partners and 10,000 unique products for users to bid on.

MARKETING AND KEY METRICS

Sales drivers are mostly tied to word of mouth and direct response acquisitions.

Sales drivers are mostly tied to word of mouth and direct response acquisitions.

Over Half a Billion in Retail Sales, Over 3,000,000 Paid Customers, World-Class Brand Recognition, Extensive Merchandise Vendor Base with over 100 Vendors, Robust & Customized Front/Back-End App, Over 360,000 Monthly Visitors

The company has over 3,000,000 paid customers.

BUSINESS MODEL & RESOURCES NEEDED

The company has 17 employees.

THE INDUSTRY

The entertainment auction/penny auction market has consolidated since the initial fanfare of the model, starting back in 2009. For the last couple of years, only two companies (including the target) operate in the space, owning 90%+ of the market. The industry is characterized by a fun pay-to-participate auction model, where users can win a variety of products at prices up to 95% off retail.

OPPORTUNITIES TO SCALE

This business offers a unique, low-competition model that can easily scale and generate a strong monthly cash flow in the right hands.

Asking Price: $8,000,000
Gross Income: $23,288,489
Cash Flow: $4,018,299
Year Established: 2009
Employees: 1

• About
• Latest Posts

Amanda Stanley

Amanda has been a professional writer since 2010. She writes during the day and reads by night. She has accumulated knowledge by scouring the internet and reading informative books. Concurrently, she developed a passion for educating people through her blogs and web tutorials. She is an earnest believer that knowledge is power.

Latest posts by Amanda Stanley (see all)

• Two Highly Profitable Sports & Fitness Ecommerce Brands For Sale - July 8, 2023
• Branded Ecommerce Company for Baking Goods - July 8, 2023
• Trendy Baby Fashion Retailer Ready to Launch - July 8, 2023