An online marketplace that provides consumers with large purchasing power and allows suppliers to move stock quickly through group sales.
The company will service both the consumer segment and suppliers. Consumers will come to Groupbid seeking products at a discounted cost, while suppliers will be attracted by the gathering of consumer groups with large collective purchasing power. The business will therefore be relevant to end users and suppliers. Groupbid will also function as a business to business portal, allowing business to place large orders that may be filled by a supplier.