Oltiby Develops New Reverse Auctions Communities Online

. July 24, 2007

The new social network online communities are becoming more and more popular on the internet. Two platforms are leading the internet and allow members to make friends in their area, blog about their favorite TV show, share and tag photos about their last parties… Those websites are the new buzz of internet. The statistics show 50 millions profiles on Facebook and 90 millions users for Myspace.

Oltiby.com has created new Facebook’s and Myspace’s profiles and groups to gathered all members interested in online auctions and the evolution of this model in the future. As a new incentive to participate in this online groups and grow the community, Oltiby is offering benefits to every new friend connection made within this Facebook’s or MySpace’s groups.

Oltiby promotes reverse auctions where the model is the opposite of eBay. The main difference resides in the role of each actor: there is one buyer and several sellers competing against each other and bidding low to win the sale. This way of auctioning brings a big change in the model and it takes time for any mind to get rid of the “eBay’s way of making business”! Reverse auctions are still on their early days and very few people understand the benefits.

“Our objectives is to get the buzz out on the social networking sites” Reiter VP Oltiby Inc explain. “We understand that the connections are easy to make between groups of members of related interests and we are confident that friends will share their success and savings made on oltiby.com. This is a new way of networking with other group of people, share new ideas and successful activities using reverse auctions.”

The company has released a new advertising model by using the online communities to expand its network. Friends recommendations and other members’ successful story will probably lead to an increase popularity of both sites. To know more about this development, visit http://www.oltiby.com/home-spread-word-about-reverse-auctions

Category: Auction News

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