Privately held media company Landmark Communications, Inc. announced today that it will pump $9 million (US$) into Burlington, Massachusetts-based Bidder’s Edge, Inc. Bidder’s Edge, a portal which allows its users to search many different auction sites at once, will use the money to expand its operations by hiring additional staff, developing new marketing programs and building up its capability to cover the growing number of online auctions.
“By tailoring our services to the buying community, we have made Bidder’s Edge a valuable destination for online auction users who want an advantage when they bid,” said James Carney, president and chief executive officer of Bidder’s Edge.
Free Online Auction Tools
Founded in 1997, the Bidder’s Edge Web site offers online auction buffs the following free tools:
Users can search its historical pricing data and find the past high, low and average selling price of similar items.
By using its Deal Watch tool, users can automatically monitor different online auction sites for a desired item as soon as they come up for bid.
Users also have the capacity to monitor multiple items from multiple auction sites and place bids all with a single click.
eBay Offers Online Auction Tool
In July, eBay Inc. launched Auction Browser, which allows users to keep track of multiple bids on its site. Its developer, ZCurve Software, sells the product for $19.95.
Some analysts feel that the Bidder’s Edge free service will attract enough eyeballs to make space on its portal a valuable commodity. However, other observers point out that it is only a matter of time before other companies imitate and possibly improve upon the Bidder’s Edge model.
Nonetheless, the concept was original enough to capture the attention and capital of Landmark.
“The synergies between the two companies are undeniable,” said Robert Gilbert, vice president of corporate development for Landmark. “By combining the power of our resources, this alliance is set to have a far-reaching impact on the future of the online auction space.”
Based in Norfolk, Virginia, Landmark owns the Weather Channel Networks and two CBS-TV affiliates: WTVF-TV in Nashville and KLAS-TV in Las Vegas. Landmark also owns several newspapers, including The Virginian-Pilot, The Greensboro, North Carolina News & Record and The Roanoke, Virginia Times.
Its newest venture is Carscene.com, an online auction site for specialty cars.
Last year, Landmark, which employs about 5,000 workers, produced revenues of $575 million.