UBid
| Company type | Public (formerly) |
|---|---|
| Industry | Online auction, E-commerce |
| Founded | 1997 |
| Headquarters | Chicago , United States |
| Products | Consumer electronics, computers, home furnishings, jewelry, watches, cellular phones |
| Parent | RDE, Inc. (as of 2020) |
uBid.com operated as an online auction and fixed-price retail website, featuring products sold both by the company itself and by authorized third-party vendors. Its primary focus was on surplus new, refurbished, and overstocked consumer electronics, including items such as computers, electronic devices, home furnishings, jewelry, watches, and cellular phones.
History
Established in 1997 as a division of PC Mall, uBid.com entered the public market in December 1998 amid the dot-com bubble, reaching a market valuation surpassing $1.8 billion. The initial public offering was set at $15 per share and surged to $67 on the debut trading day. In 1999, the company officially separated from PC Mall under the leadership of its original management team. Over time, ownership underwent multiple transitions.
In 2000, CMGI (currently known as Steel Connect) acquired uBid through a stock-based deal. By June 2001, uBid broadened its distribution channels by listing products on Yahoo! Auctions. The firm experienced operational challenges including workforce reductions in 2002 and was subsequently sold by CMGI to Takumi Interactive, controlled by Tom Petters and Petters Group Worldwide, in 2003. To enhance its market position, uBid purchased the auction assets of Bidville.com in 2006.
Financial instability led to an involuntary bankruptcy filing in 2010. In October 2018, uBid merged with Incumaker and adopted the name uBid Holdings, Inc. by February 2019. After acquiring Restaurant.com in 2020, the company pivoted toward offering digital discount coupons for dining and entertainment venues, rebranding itself as RDE, Inc. By 2022, the uBid platform was taken offline.
External links
- uBid.com (Inactive link)