MadBid.com is a gamified e-commerce website.
MadBid.com has over 750,000 auction winners internationally and over 3 million registered users. MadBid.com operates across Europe in Germany, Italy, Ireland, Spain, France, Turkey, Austria, The Netherlands as well as the UK where the company is based.
How it works - Based on the penny auction concept MadBid.com brings gamification to shopping. There are 4 ways to shop on MadBid:
1. Bid in Auctions: Customers need to purchase credits in order to participate in the auctions. Auction winners walk away with significant discounts on branded products like Apple, Samsung and even cars. All MadBid auctions have timers that count down, an auction winner is determined when the timer runs out and no-one else places a Bid. When someone places a Bid the timer re-starts and counts down again, at which point the auction price goes up by 1p only, thus keeping the final closing price much lower than the RRP of the product.
2. Buy Now: If users do not win the auction, they can use all the spent credits in that auction as discount of the RRP of the product so they can purchase it.
3. Earned Discount: If users do not wish to pay the difference between spent credits and RRP, they can simply use the value of the spent credits in the auction to purchase any product from the Earned Discount selection.
4. Simply Click and Buy: Users do not need to participate in auctions, they can simply purchase products with a simple click and buy.
MadBid.com is part of Marcandi Ltd.
Founders: Daniel Rovira, Juha Koski, Madhur Srivastava