Image via CrunchBaseFedBid Announces Record $1.15 Billion Worth of Reverse Auction Purchases by Government Agencies in FY2010
FedBid, Inc., the premier online reverse auction marketplace, today announced that government buyers purchased a record $1.15 billion dollars worth of products and simple services through the company’s online marketplace in FY2010, more than a 30% jump over total purchase value in FY2009 and the first time the company has broken $1 billion in both annual sales and sales value. Since 2008, the annual value of purchases made through the FedBid online marketplace has increased by nearly 60%.
“The FedBid secret is out,” said Glenn Richardson, FedBid’s President. “Over the past year, we’ve seen tremendous growth as government buyers have embraced use of the online marketplace to save taxpayers money and improve efficiencies on purchases of products and simple services. Time after time, we’ve heard from our clients that they’ll never go back to the old way of doing business. Our dedication to client success has positioned us as the premier online reverse auction marketplace, with the scale, reach, and reputation to meet the needs of any organization. Over the past few years, FedBid has become a critical business tool for thousands of government buyers and tens of thousands of private sector sellers.”
Among FY2010 results released by the company today:
- On average, government buyers saved 12% over the amount they planned to spend on their purchases by getting competitive bids through the FedBid online marketplace.
- The federal government used FedBid to save U.S. taxpayers nearly $140 million.
- FedBid assisted government buyers in making more than 14,000 purchases, a 16% increase over FY2009.
- More than three thousand buyers from dozens of major federal agencies now use the FedBid marketplace, along with nearly 56,000 registered sales agents at more than 38,000 companies.
- New multi-year contracts awarded to FedBid in FY2010 included the U.S. Navy, U.S. Department of the Interior, Marine Corps Community Services and U.S. Marshals Service.
Some of the other federal civilian and defense agencies currently using the FedBid online marketplace include the U.S. Army; Bureau of Alcohol, Tobacco, Firearms, and Explosives; Department of State; Environmental Protection Agency; Federal Bureau of Investigation; Federal Communications Commission; Department of Health and Human Services; Securities and Exchange Commission; and a number of Department of Homeland Security components, including Customs and Border Protection, Federal Emergency Management Agency, Federal Law Enforcement Training Center, Immigration and Customs Enforcement, Office of Procurement Operations, Citizenship and Immigration Services, and Transportation Security Administration.
About FedBid, Inc.
FedBid, Inc. operates the full-service FedBid® online reverse auction marketplace at www.FedBid.com, where sellers compete to meet buyers’ needs for billions of dollars worth of goods and services. To date, thousands of public sector and commercial buyers have used FedBid to increase efficiency, improve transparency, and save hundreds of millions of dollars. For more information, visit FedBid online at www.FedBid.com or call (877) 9FEDBID. FedBid — Better Buying | Smarter Selling®
FedBid, Inc.
Luther Tupponce, 703-738-6886
Lu.Tupponce@FedBid.com
Source:
BusinessWire FedBid Announces Record $1.15 Billion Worth of Reverse Auction Purchases by Government Agencies in FY2010+++++++++++++++++++++++++++++++++++++++++
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