ProtoPenny - the next generation of online auctions
Founded in USA in 2005, ProtoPenny is one of the world’s most innovative auction sites. Based on a widely used and familiar business model, the company sells premium products like: computers, cameras, game consoles and even cars, at very low prices. ProtoPenny auctions over 10,000 products per month and has more than 500 thousand registered customers.
Here is how it works: our online customers buy “tenders” in advance. They cost $1 each and are sold in packs of 40, 75, 150, 400 or 1000. Bidders have the choice of placing single bids, or, using an electronic bid assistant called the “T-matics”. Every bid placed, increases the price of the product by 1c and the auction countdown by up to 20 seconds. To help keep track of the money spent on bidding, each auction displays the amount spent on bids by the customer and how much the bidder would save overall, if they won the auction at that moment. The ‘last bidder standing’ when the countdown reaches zero, wins the auction – usually at a very low price; winners save, on average, 65% when compared to the recommended retail price.
What makes ProtoPenny so unique?
Every user can get top of the range, brandname products for extraordinarily low prices.
Behind the scenes at ProtoPenny
ProtoPenny is located in Palmdale, CA. We are a young company, but have passed the start-up phase and are now generating solid profits and growing strongly. We take pride in being motivated and able to make decisions quickly with our streamlined organization and strong work ethic. We have an open door policy for all employees and short lines of communication. The entire company is becoming internationalized step by step; all of our official communication is in English. We all have the passion and ambition to carry the ProtoPenny on the way establishing the company as a major international e-commerce player. We work hard towards achieving these goals – and like to enjoy ourselves at the same time. Our team currently consists of around 50 employees; our head office is in Palmdale, CA and we also have offices in New York, NY and Minneapolis, MN.