Richard Hull
Sarah, MS (USA)
Role(s):
Founder/Owner/Principal
Get In Too
Find More Startups
Startup
Location:
Southaven
Industry:
Internet
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
Limited Liability Company
Description:
(URL removed) is the only 'No Reserve, Sealed Bid, Lowest Bid Wins Auction on the internet'! This means that you could get the hottest products on the market for pocket change. We have perfected the auction process using the sealed bid (modeled after how government auctions keep bidding fair) but we added a twist, “the lowest single bid wins”! We do not limit the amount you can bid: you can start at a penny, start at a dollar, or place any single dollar and cents amount you want. This will ensure that most products are won for around 99% off the retail price. And if you tell a few friends you might win a product for 100% off!
We are not a penny auction (we just want their customers - for every winner there are up to hundreds maybe thousands of losers who all complain they lost bids):
In a penny auction, your bid cancels every other bid that has been placed before your bid and then the next bid cancels the bid you just placed. Your only chance to win is to be the last bid when the clock times out. You can spend a lot of money buying bids that are only good for 30 seconds in a penny auction.
At GetInToo, we found a way to make it work so no bid is ever wasted. If you place a bid in an auction and you don't win that auction, you'll get a replacement voucher bid that you can use in another auction. And that replacement voucher bid can be used over and over again for a whole year until you win an item in our auction. Voucher bids expire after one year so be sure to use them until you win.
All that is necessary to win is for your bid to be the lowest, unique bid for the item. If you bid 44¢ and no one else bids 44¢ and when the percentage of bids needed reaches 100% and 44¢ is the lowest bid that no one else matched, you win.
Also, the auctions don't end based on a timer, they end when the required number of purchased bids has been placed for that item.
There's also no danger of automatic-bidding to drive up the price; the lowest, unique bid is the winner. In every other auction format, where the winner is the highest bidder, there's a danger of shill bidding to get that price higher. I know, every penny auction website says they don't use auto-bots to bid, but do you really know; there's an advantage to them if they do. At GetInToo, an auto-bot bidder would do nothing to help us. Every bidder has an equal opportunity to win.
And, one more major differences: First, for every dollar you spend to buy bids, you get what we call a Winning Auction Purchase Credit. That is a credit that is used to pay for any items you win in an auction. You won't have to pay more for the item by going through another billing process and delivery is also free.
Check us out at: (URL removed)
We are working on launching a network marketing business to parallel the auction platform. There are no other auction mlm's out there that we know of and we feel this is an incredible way to launch getintoo to the next level. Our network marketing business will be a membership site with an initial sign up fee (they will receive bids as part of it), a monthly fee that purchases bids, and our compensation plan will be a 5X5 Matrix so that aggressive marketers can build a fast and powerful downline.