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October 7 -21, 1999
Extract
...The real innovation, however is coming in the form of the e-auction-based e-biz model which Indian e-ntrepreneurs have entered close on the heels of the momentum gathered by this form of selling even in the global marketplace. Says David Mickler, 35, Director (Asia Sales), Yahoo, " Running auctions of behalf of companies and individuals is a great opportunity today."
Pioneered by e-bay, the e-auction involves setting up a forum where sellers can put up products for sale, buyers can bid for them, and the e-biz that hosts the process can collect a commission. auctionindia.com is using this model for business-to-business auction while online-shoppe.com, is interestingly enough extending this idea to sell branded products as well. Says C E Karunakaran, the CEO of AuctionIndia, "The business model is based on direct commissions, earned by bringing together the buyer and the seller and thus serving any information need."
Having just started off, AuctionIndia, run by a 11 member team, obviously does not expect profits immediately. Yet, global examples suggest that money can be made quickly so long as revenues are there... |
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