Bidz.com, Inc. Announces Repurchase of Shares

. January 2, 2008

Bidz.com (NASDAQ:BIDZ), a leading online auctioneer of jewelry, announced today that it has repurchased 100,000 shares of its common stock in the open market for a total purchase price of $886,000. The repurchased shares represent approximately 0.4% of the Company’s estimated 24.6 million outstanding shares as of December 31, 2007, and were repurchased at an average price of $8.86 per share.

In June 2007, the Company authorized the stock buyback program for up to $5.0 million of its outstanding common stock to be repurchased through the open market at prices deemed appropriate by management. The Company has $4.1 million of authorization remaining under this program.

“The share repurchase underscores our confidence in the strength of our business model and our commitment to enhancing stockholder value,” said Chairman and CEO, David Zinberg. “We will continue to use our balance sheet and cash flow from operations to invest in our business and repurchase our shares from time to time in the open market.”

About Bidz.com

Bidz.com, founded in 1998, is an online auctioneer of jewelry. Bidz offers its products through a live auction format requiring only a $1 minimum opening bid. To learn more about Bidz.com visit its website at www.bidz.com.

Safe Harbor Statement

This press release includes statements made by Bidz that are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including forward-looking statements about the Company’s estimated revenue, gross margins, earnings and tax rates. All statements other than statements of historical facts contained in this press release, including statements regarding the Company’s future financial position, business strategy and plans and objectives of management for future operations, are forward looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions, as they relate to the Company, are intended to identify forward looking statements. Bidz based these forward-looking statements largely on current expectations and projections about future events and financial trends that Bidz believes may affect its financial condition, results of operations, business strategy and financial needs. Risks and uncertainties relating to these statements include the ability of the Company to attract customers to its website and offer attractive products; to maintain its website, electronic data processing systems, and systems hardware; to forecast accurately net revenue and plan for expenses; to protect intellectual property rights; and potential litigation and government enforcement actions that may result from our prior securities offerings. All forward-looking statements are qualified in their entirety by reference to the factors described in Part I, Item 1A, “Risk Factors” in Bidz’ 2006 Annual Report on Form 10-K, and in Part II, Item 1A, “Risk Factors” in Bidz’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, that could cause the actual results of Bidz to differ materially from those projected in such forward-looking statements.

All subsequent forward-looking statements, whether written or oral and whether made by or on behalf of Bidz, also are expressly qualified by these cautionary statements. Any forward-looking statement speaks only as of the date on which such statement is made, and Bidz undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time and it is not possible for Bidz to predict all such factors, nor can it assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.

Category: Auction News

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