Rated
Nov 04
•
1 review
•
business, social networking, internet, internet tools, web 2 0
• bodegabid.com
Bodega is a social auction application that brings millions of active users from multiple social networking platforms together, allowing them to bid, buy and communicate with each other online. Bodega's auction and messaging system enables users to sell, trade and share real and virtual goods, with each other, from across the globe, no matter what social network they use.
Bodega is the first social application that allows users to interact and communicate with each other outside the boundaries of their respective social network logins and user profiles. The Bodega application has been launched on Bebo, Facebook and MySpace platforms with engineering under way to include OpenSocial, iPhone and further social and mobile integration. This means that users can communicate no matter what social network they reside on, and sell and bid for items across social network platforms.
The distribution of Bodega auctions is fueled by established user behaviors like sharing and posting to profiles - auction participants power Bodega's growth by sharing likes for goods, brands, entertainers, movies, games and beyond. Bridging the gap between users and communities on these platforms, and allowing them to communicate without boundaries, is Bodega's `secret sauce' - it dramatically enhances the social networking user experience and creates communities of buyers where there were none. Auction listings are free for users, and users can even engage in buying without spending any real cash by completing incentive-based advertising offers to earn Bodega currency.
All auction transactions are settled through the Bodega Proprietary Virtual Currency, the "Bodega Bill." Users can buy Bodega Bills directly from Bodega through all major credit cards, PayPal and mobile payment or they can earn free Bodega Bills through our incentive offer partners. Bodega items can be bought and sold via silent auctions, wherein users set the maximum price they are willing to pay and the application automatically increases bids, as necessary, up to that maximum, or via "Buy it Now" which allows users to instantly purchase items at a set price. The exchange of goods using virtual currency is a proven model, Facebook alone is already generating $50 million in virtual gift sales, and games and application running on the Facebook platform are selling much more. The total virtual goods economy is estimated to currently be around $200 million.
Bodega will generate revenues from several online and offline sources including:
* Revenue share of partner/merchant transactions (individual auction transactions are free)
* Direct sales of virtual goods unique to the Bodega experience
* Online advertising - brand sponsorships, CPM/CPC banners, affiliate marketing
* Selling analytic data around user behavior, buying habits and patterns to marketers, brands and retailers
Bodega auctions are unique in that they bring ecommerce to the social web, rather than forcing users to interact on a single destination site. As the social web has evolved, destination sites like eBay and Amazon have, thus far, missed the opportunity to enable social networking audiences to shop and sell from sites where they are already active participants. Bodega's groundbreaking approach embraces the concept of `fishing where the fish are', reaching existing networks of people and directly meeting their ecommerce wants and needs.