The idea is LUBA (lowest unique bid auction), whoever places the lowest bid gets the product. Our target is to reach one million registered users in five monts. Capital required is Rs.50lakhs (1,12,000USD). Return of capital with interest estimated in five months.
The question is why people would try this type of bidding?
Every single person wish to buy products like an LCD, bike, smart phones, laptops but every one cannot afford the price but when there is a chance for them to buy them at paying just a small entry fee like Rs.5 or 10, every one gives a try. But when it comes to free auctions everyone tries it daily they bid each item 10 times a day by which they generate huge amount of traffic.
Note: Ad revenue for websites with 1 lakh unique visitors daily is Rs.1,00,000 per day which for 30 days is 30 lakhs per month.
Our target is to reach One million registered users within five months, which makes 2-5 lakh unique visitors per day, then the revenue generated through ads is estimated to be 3-5 lakh rupees (10,000USD) per day.
If you are interested investor, please contact us on Merar.
Which community people comes more?
College students, School students, Software employees anyone between 15-40 get attracts to this website more.
How is ibidz.in different from other websites?
Building trust is the more important issue, there are few websites by this methods which people don’t trust, we build trust by displaying IMEI, Serial number of the particular item displayed in auction, even videos of the high price items taken by us are displayed.
Investment is needed for advertising which is Rs.20 lakhs. Working capital for five months is Rs.12 lakhs.