Startup Offers a Fresh Take on Online Auctions Yumani lets vendors duke it out to give you the best price.
By Gwen Moran Edited by Frances Dodds
Opinions expressed by Entrepreneur contributors are their own.
What It Is
With Yumani's fresh take on online auctions, registered users can either search the site's online catalog or post items they wish to buy, such as electronics or home goods. Participating retailers then compete for the sale by bidding down the price. For an even better deal, multiple buyers looking for the same product--say, a 50-inch Sony LED HDTV--can form purchasing blocs through the "Yunite" feature and score a group discount.
How It Started
Serial entrepreneur Henry Zilberman hated spending time searching multiple websites to find the best deals. His dream was a site that inverted the process: One place where he could post the items he wanted to buy and have retailers offer him their best price.
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