Kyle
Name your price was a concept introduced and revolutionized by the negotiator, William Shatner, in his ever so popular commercials for Priceline.com. Typically when talking about Priceline.com these days in regards to startups, it’s mentioning Scott Case the founding CTO of Priceline.com, and now the CEO of Startup America. Well we’re talking about Priceline.com because of that infamous name your price concept and a new startup in the Raleigh area of North Carolina called BuyStand.
BuyStand is the latest startup from North Carolina serial entrepreneur Joe Davy. His most recent startup EvoApp failed, of course as any good founder and entrepreneur knows failure leads to success. Failing fast is just one of the methodologies entrepreneurs in 2012 live by.
BuyStand is completely different than Davy’s previous startup.
For concept demonstration purposes Davy used one vertical market, outdoors. Obviously the platform will work for any retail good but outdoors was a great place to start.
As you can probably imagine, reading this far, BuyStand takes the “name your price” concept and applies it to outdoor goods. Whether you’re looking for the latest running shoes or the best all terrain jacket or back pack, you’ll find it at BuyStand. But you won’t find a typical priced out click through e-commerce portal.
With BuyStand the user selects the item that they want, names the price they’re willing to pay and then BuyStand sets that payment aside. Once a buyer has named a price, the BuyStand system lets the buyer know they have a taker and from there the “bid” is either accepted or rejected. If the “bid” (price) is accepted than BuyStand pays the vendor and the buyers product is shipped to their home.
It’s a two click process, name your price and click.
Davy says the need for BuyStand arises from the fact that buyers waiting for items and buying them second hand, used or “off the truck” at sites like e-Bay and Craigslist account for $200 billion dollars in lost profit.
“BUYSTAND solves this problem by eliminating the price and creating an open, efficient, free market.” Davy told the CED Start Something blog.
BuyStand is open in an limited Beta at the moment and you can sign up for a beta invite by visiting the link below.
Linkage:
Sign up for BuyStand’s beta test here
Source: CED Start Something Blog
Here are more startups from “everywhere else”
Here’s where every good startup from “everywhere else” will be
