The company said the launch of the Rbid Auction house allows hundreds of
merchants from its Rmall as well as individuals to list an
unlimited number of products with photos on a no up-front fee basis.
The Rbid Auction operation will include a built in escrow account that allows
everyone to safely bid, buy and sell online knowing that the funds and items
sold will be safely
handled throughout the auction process, the company said.
The marketing campaign includes Internet banner advertising and national TV
radio infomercials. Spending was not disclosed.
“The completion of the Auction house makes Rbid a powerful competitive force in
the Internet e-commerce
world,” said Rbid’s president and CEO Peter J. Ferras. “Our unique Web store
development engines allow any merchant to build a
professional looking Web
store with full e-commerce solutions in minutes with direct access to the Rbid
Auction to continuously channel and sell their products with little effort.”