Monday, August 11, 2008

MadBid... Awesome New IESE Class of 2007 Venture!

So get this... You all surely remember two of my favorite pals from IESE, who have appeared in many a blog post, many a photo, and even a video or two... or more. Well now they deserve yet another.

Madhur and Juha have just launched their first venture, Basically, it's an online auction site where you bid to get cool schwag at super low prices. But I'll let their PR team tell it better...., a new Internet-based auction platform that allows consumers to bag a bargain on new retail goods, today announced their official launch in the UK.’s new online auction offers users the opportunity to snag premium retail products – ranging from gadgets such as iPods, mobile phones and laptops to lifestyle products such as holidays, games consoles, petrol vouchers and even cars and motorbikes – at a fraction of the cost.

Open to all residents of the UK over the age of 16, uses “bids” instead of direct cash to auction off the latest and greatest gifts and goodies in a fun, game-like environment. Getting started is easy: customers sign up to use the service in a few clicks and, once registered, can return to bid on as many items, as many times as they like. Bidding can take place online or through a registered account via a mobile phone.’s daily auctions are live and allow users to watch the progress of their bids in real time on their computer screens, making the process suspenseful down to the last few seconds of each bidding session.

“Internet based auctions can be an entertaining and fun way to save money on new purchases. Buy your bids to be in with a chance of winning new, cool products at Mad Prices!” said Juha Koski, Managing Director at


Mackers said...

Don't be fooled! You need to pay to bid. Bids cost anything from 75p to £1.50 each. So if you make 10 bids and you don't win, you'll be out of pocket by up to £15!!!

NoellieBellie said...

The only thing foolish about it is not realizing that, since it´s written clearly and in plain English on the home page of the site.