USBid's Evolution
USBid was originally conceived in 1998 to conduct online auctions for excess and obsolete electronic components. In the ensuing two years, the company's customer-centric efforts resulted in USBid becoming the only online component sourcing site to offer multiple commerce models.
Our staff has been positioned to provide the best possible online customer experience. Our growth has been fueled by a strong business development initiative that resulted in several strategic acquisitions and partnerships. These events increased our online inventory offerings, and expanded our global presence.
USBid acquired Worldbase.com (formally eurobase.net) in February 2000. Worldbase was originally the exclusive US distributor for Europartners Publishing, publisher of the European Component Source Directory and the Worldwide Electronic Component Distribution Report. This acquisition more than doubled USBid's site traffic and brought more than 400 new sellers to its web site. It also provided the company a strong European presence.
To support its growth, the company developed an innovative customer communications system that provides state-of-the-art monitoring, tracking, and feedback vehicles. These tools enable us to anticipate, discuss, analyze, and respond to our customers' current buying habits and sourcing requirements.
USBid's rapid ascent to its industry-leading status is a direct result of responding to its customers' top priority - the ability to seek, find and buy quality components more efficiently, which in turn appreciably reduces the manpower, time, and financial resources expended for the commerce function. Our strategy for improved customer efficiency was driven by two primary objectives - empowering customers with global knowledge of component availability, and developing an online decision support system that enables them to quickly access, compare, and process this information to ultimately achieve true sourcing fulfillment. This involved exponentially expanding our inventory database, and blending it with an innovative technology suite that our customers could use to analyze, select, and fulfill their component sourcing needs!
Sellers find the USBid website an excellent place to merchandise all types of inventories, and can quickly update pricing and quantities - as often as desired - using our innovative inventory management tools.
Buyers can simply bid on or buy the parts they need. If an advertised price is not attractive, bidding is always an option. This creates a dynamic pricing environment that accurately reflects the current supply and demand in the marketplace. USBid combines enterprise computing and e-commerce knowledge with its electronics industry expertise to deliver tremendous benefits to buyers, component manufacturers, and distributors.
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