Ronell Owens
Norwalk, CT (USA)
Role(s):
Other
Ventract LLC
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Startup
Location:
Norwalk
Industry:
Technology/Web
Year Founded:
2012
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Limited Liability Company
Description:
Ventract is a Live reverse-auction bidding platform (i.e. bidding for the lowest price, not the highest), allows a prospective user (i.e. Home Owner, Property Manager, Contractor) to search through a list of hundreds of business professionals and supply vendors, giving each of them the opportunity to bid and compete in real-time for the job. This format enables one to achieve the most competitive results in a timely manner. An example of a reverse auction process would be a homeowner in need of certain work such as painting a house. The homeowner would take pictures and / or video of the prospective job and post all of the media on the Ventract platform for review and bidding procedures. All existing subscribers (i.e. contractors) would have the opportunity to compete for the particular job by bidding through the live reverse auction platform. The homeowner would then have the opportunity to select the most competitive bid based on price, user reviews, previous work done, etc.