M​inution is the fast way to sell something

Sealed-bid second-price auction based platform for promo sales and second-hand market

The Problem
Fast sales. Classic auctions are not suitable for mass-market products

The Solution
Second price auction kicks classic auction ass in case the ceiling price of a product is available

How it works
Each product has a price gap, for example $100 - $70. You bid $90, your rival $80. You win and buy for $80
Fairness of the price is ensured by sealed bids: there are no visible rivals to compete

The Direction
Our aim is global market of consumer products starting from Ukraine. The market volume is to define

The Competition                                       
Marketplaces (Amazon), auctions (eBay), classifieds (Craigslist)

Minution`s advantages:
– Buyers` benefit in savings: offer the price you wish to pay and buy even for less
– Possibility to sell numbers of items to various customers in one deal (stock clearance)
– Time saving: reverse Dutch auction is ten times faster than classic English one
– No bother: ready-to-pay customers who have already proved the intention to buy with their wallets

The Goal                                     
To become the fastest channel of sales for second-hand products and stocks

The Model
Minution makes money by selling bids: fee $0.19 to $4.99 refundable if not win
Alternatives:
– Subscription to premium features
– Advertising and promo tools for brands and shops

The Distribution
– Direct sales
– Social media
– Affiliate program

The Team
Experienced in auctions, game theory, buying psychology and mechanics. We’ve created and launched first and the biggest penny auction in Russian-speaking Internet
The founder and CEO Pavlo Bogacci is an entrepreneur, theory economist, 10+ years of Italy - Ukraine export trading experience
The CTO Rodion Vshevtsov is a great RoR developer, was involved in high-load projects as Ratepoint.com
The CIO Yegor Zubarets is crazy about agile product development and lean startup building

The Ask

Venture capital, strategic partners and advisers