New Site is Like Groupon Meets EBay Deals
A new startup deals site can best be described as a cross between sites like Groupon and eBay. Chicago company Bid My Way lets deal seekers sign up for free via Facebook, set a budget, and then bid once on an item or buy it immediately at 95% of its value.
The site sells coupons for services such as spa packages, and gives buyers more control with the ability to pick their own price and set their own parameters. The site charges a bidder's credit card after he or she wins an auction. Bid My Way also incorporates social media by enabling subscribers to input their spending budget and preferred location, and then name their best price among the restaurants that pop up from the search. A subscription to the site is free, and winning b ids are kept confidential. The participating merchants decide to accept or reject offers without disclosing how they reached their decisions.