VALENCIA, Calif., June 9, 2020 /PRNewswire/ -- Bids.com, an e-commerce marketplace, today announced the completion of their first round of funding. With a first round valuation of $10 million and an original funding goal of $1 million, Bids.com successfully raised over $1.7 million and oversubscribed financing by more than 70%. Bids.com is preparing for their second follow up round of financing which currently values the company at $30 million. The new investment rounds will enable Bids.com to further capitalize on its position as a leader in e-commerce and will help expand its platform to entrepreneurs internationally.
Bids.com also is preparing for the imminent release of their new marketplace for third party sellers through the use of their own proprietary software, enabling entrepreneurs and sellers of all sizes to create their own individual store on the reliable and easy-to-use Bids.com platform.
"We are pleased to announce a highly successful first round of funding with strong demand and look forward to welcoming new investors for the second round," says David Zinberg, founder of Bids.com. "Our imminent release of opening our market to third party sellers is well-timed with the rapidly increased demand for e-commerce shopping. As our capital grows, we will be able to support and provide our entrepreneurs with the tools to succeed in an environment that is quickly moving from brick and mortar to online."
During these unprecedented times, Bids.com arrives at the right moment with the right tools for sellers. Bids.com caters to a wide range of global sellers, from solo entrepreneurs to brand enterprises. On Bids.com, online shoppers can find virtually any product ranging from high-end fashion, beauty products, jewelry, toys, household goods, electronics and much more with a variety of buying options to fit their needs.
David Zinberg, CEO and Founder of Bids.com, is the ultimate example of the American dream. Zinberg has risen from a pawnbroker to become chief executive of a successful online retailer site. Zinberg has over three decades of experience in the jewelry, merchandising and online auction marketplace and has aggregated the most effective e-commerce trading strategies so that buyers and sellers have an unparalleled online selling and shopping experience.
To learn more about Bids.com, visit their website at: https://www.bids.com/
The first round of funding was made, and the second round will be made, only to persons reasonably believed to be "accredited investors" in accordance with Rule 506 under the Securities Act of 1933, as amended (the "Securities Act"). Neither the company's common shares nor the first or second funding rounds have been or will be registered under the Securities Act and therefore may not be offered or sold without registration unless an exemption from such registration and from applicable state securities laws is available.
Bids.com is an online auction site based out of Los Angeles that redefines how buyers and sellers interact. Launched by entrepreneur David Zinberg, a veteran in auction-focused online environments, Bids.com is designed to make the online experience an enjoyable and profitable one for both parties.
This press release does not constitute an offer to sell or the solicitation of an offer to buy with respect to the company's common shares, whether offered pursuant to the first or second funding rounds or otherwise, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and relevant provisions of the Securities Exchange Act of 1934. These forward-looking statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance, events or achievements expressed or implied by these statements. In some cases, forward-looking statements may be identified by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential" or "continue," or the negative of these terms or other comparable terminology. Undue reliance on forward-looking statements should be avoided, as they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the control of Bids.com's control and could materially affect actual results, levels of activity, performance, events or achievements.
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