Swoopo the online auction site with a twist has bagged in $10 million in second round of funding. The funding was provided by August Capital adding up to its previous round of $4 million. The site offers real time bids just like auctions in real, place a bid, the clock ticks and if no one else comes up with a better one, the object is yours. We at Startup Meme liked the startup very much when it launched earlier.
I wonder about the aspects of “price control”. They use the same ascending price model consumers are used to.
I think that pricefalls has a better system of control on their prices than this one. They use a “dutch auction” model.
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There are also newer sites like bidfire where the user density isn’t as high so the odds of winning are much higher. Also .05 bid increments is so much better than a penny at a time.
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