About Quibids
Quibids is an online auction platform that specializes in penny auctions, where users can bid on various products at significantly reduced prices. Founded in 2009, Quibids has gained popularity for its unique auction format, allowing users to place small bids on items, which increases the auction price by a fraction of a cent. The platform offers a wide range of products, including electronics, home goods, and gift cards. Quibids operates on a pay-per-bid model, where participants purchase bids in advance and use them to compete for items. The company aims to provide an engaging and competitive shopping experience, leveraging technology to enhance user interaction and satisfaction. Quibids has faced scrutiny and criticism over its business model, particularly regarding the potential for users to spend more on bids than the actual value of the items won. Despite this, it continues to attract a loyal customer base and remains a notable player in the online auction industry.
Company facts
- Industry
- E-commerce
- Sub-industries
- Online Auctions, Retail, E-commerce Platforms
- Location
- Oklahoma City, United States
- Employees
- 1–10
- Revenue (USD)
- <1M
Products and services
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