RealTime IT News

Bid.com Plans European Launch

Upstart online auctioneer Bid.com plans to head overseas in its effort to capture a sizeable share of the Internet auction market. The company also looking to establish an interactive Internet shopping network.

Jeff Lymburner, Bid.com's president, said Thursday the Tampa, Fla.-based company will establish a European headquarters in Dublin, Ireland.

"That could easily extend to such far-flung places as Australia," he said.

Lymburner said Bid.com is also partnering with American Interactive Media to launch an online shopping network that will be styled after TV shopping channels.

"We're talking about fully interactive television utilizing our auction infrastructure," he said.

While the online auction business will continue to be a core focus, Lymburner said several other parts of the business are growing as fast as auctions. He said licensing deals with other sites have been successful and are financially attractive since their margins are higher.