Exhibia.com one pager.

1. Exhibia
A bidding fee auction
in which all participants
must pay a non-refundable fee
to place each small incremental bid.
www.exhibia.com
 
Proven Success
Concept designed by Martin Shubik, Seymour Knox Professor Emeritus of
Mathematical Institutional Economics at Yale University
In the test phase, a single EUR 180 tablet generated
18,160 bids, worth of over EUR 7,200 in revenue, from
56 users. The winner of this auction only spent 80
cents on her two bids.
Business Model
The business model of Exhibia is based on the dollar auction theory introduced by economics professor, Martin Shubik
which essentially is a game where two or more people agree to auction off a dollar to the highest bidder with the catch
that the losing bidder has to pay as well (and does not get the item).
In this auction, bidding would naturally progress to EUR 0.99c where the value of the prize is still more than the auction
price but at this point, to save a EUR 0.98c loss, the 2nd place bidder goes ahead and bids EUR 1.00 to break even. At
this point the bidder who was at EUR 0.99 can minimize his loss to EUR 0.01 by bidding again at EUR 1.01. This cycle
continues with both players wanting to minimize their losses. It has been said that a single dollar auction has gone for
over EUR 200 before!
Exhibia works a little bit differently in the fact that they use a pay per bid model, or bidding fee auction. Since the business
of Exhibia is selling bids, Exhibia wants to get bidders to buy bids and bid against one another to use those bids trying to
win items that the site puts up for auction. In this model, all bidders pay money regardless of win or loss each time they
bid and bidders are moved to keep bidding in order to win the auction and have the chance to purchase the item at
hugely discounted price.
Milestones
Interest from Google
November 2014
Formed Dutch IP
Foundation
May 2015
Patents, Trademarks, and
Copyrights granted
2016
Approved by Facebook
January 2016
Interest from Samsung
July 2017
23,000 active users
2018
Problems
Bots (artificial bidders) are used to drive up the price
Items are sold at high prices
Commissions are relatively low
Solutions
To keep the bidding between humans, the operator needs to be sure
there are at least 2 bidders for every auction on the webpage
Facebook and Google verified and authenticated bidding
1st tier payment processors and seamless install
Bidders who do not win are able to buy the item at a retail price and
thus get their bids back.
Raising
EUR 100,000
5% Salaries
40% IT
5% Legal
40% Marketing
10% R&D
FAQs
How does it work?
Before you can take part in an auction you need to buy bids.
The auction clock restarts from 10 seconds every time someone bids.
If no new bids are placed before the clock runs out, the last bidder wins.
Users are Google-verified.
How to bid in an auction?
Find the product you like.
Use the “Bid” Button to bid or set Autobidder to bid automatically for you.
If you are the latest bidder when the timer hits zero, you WIN!
How does Exhibia compare to eBay auctions?
Exhibia is 100% different than an auction on eBay. If you lose an auction at a
Exhibia then you still lose money. If you lose an auction on eBay, then you just do
not get to purchase the item at the price you wanted. While there is bidding
strategy on both types of auctions, you should consider Exhibia's to be a
competitive game that costs money to play. You are not guaranteed to win
anything, however you can win incredible deals.
What are the risks?
Bidding on Exhibia can be dangerous to your wallet if you don’t follow the basic
guidelines such as bidding only on buy it auctions, starting small, and other best
practices.
Founding Team
Mikko Lasso
Founder & Engineer
10 + years internet search & technology startup
experience with successful launch of previous
multi-million dollar company
LinkedIn profile:
https://www.linkedin.com/in/mikko-filppula
mikko.lasso@edu.turkuamk.fi
Bob Juchter van Bergen
Quast
Founder & CEO
10 + years law, finance & technology startup
experience.
LinkedIn profile:
https://www.linkedin.com/in/juchtervanbergenquast
jvbq@fastmail.nl
you@youremail.com Join Us!
No Offer, Solicitation, Investment Advice or Recommendations
This website is for informational purposes only and does not constitute any investment invitation or an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it
constitute an offer to provide investment advisory or other services by Exhibia or the persons associated with Exhibia. Nothing on this website shall be considered a solicitation or offer to
buy or sell any security, future, option or other financial instrument or to offer or provide any investment invitation or advice to any person in any jurisdiction. Nothing contained on the
website constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed on this website should not be taken as advice to buy, sell
or hold any security. In preparing the information contained in this website, we have not taken into account the investment needs, objectives and financial circumstances of any potential
investor. This information has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this information and investments discussed
may not be suitable for all viewers. Any views expressed on this website by us were prepared based upon the information available to us at the time such views were written. Changed or
additional information could cause such views to change. All information is subject to possible correction. Information may quickly become unreliable for various reasons, including changes
in market conditions or economic circumstances.
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