cMarket Re-launches as BiddingForGood: Fundraising Tool Becomes Unique Platform

CAMBRIDGE, Mass., Jan. 11 /PRNewswire/ -- BiddingForGood (formerly cMarket), the leading cause-related commerce platform connecting consumers and marketers to nonprofit auction events announces it is re-launching the company as BiddingForGood. The change will be inclusive of cMarket services and products. Up to now, the BiddingForGood brand has only applied to the company's cause-minded consumer shopping portal and has been used as a subsidiary name under the cMarket umbrella.

(Logo: http://www.newscom.com/cgi-bin/prnh/20100111/NE35487LOGO )

The premise of BiddingForGood's platform is that the internet is a disruptive technology to the tried and true silent auction model which is going to inevitably move to the web given their myriad drawbacks; bidders have to fight the crowd, non-attendees can't bid, social distractions suppress bidding, high level of logistics work to set up, clipboards don't exactly follow bidders around the room when they have been outbid, item donors don't get much visibility, longer checkout lines and wait time for winning bidders, and hard to track or archive bid performance by item. The strategy of the company is to drive fundraising results up by supplying additional bidders and items.

The primary reason for the change is that BiddingForGood is increasingly attracting a rapidly growing base of loyal consumers who shop for gifts and personal use. Since launching its consumer shopping portal in 2006 the company has built a community of over 150,000 registered bidders that is growing at 60% per year with zero marketing spending. These bidders are typically affluent baby boomers who drove a record 26% of additional bids for the company's non-profit auction customers helping to drive up demand and consequently fundraising results.

As the company has continued to build a unique base of loyal shoppers it has become apparent that BiddingForGood better encompasses the evolving consumer positioning. Jon Carson, CEO of BiddingForGood says, "Research is showing consumers are becoming more socially conscious and we believe our cause commerce platform that aggregates tens of thousands of items being auctioned off by schools and non-profits at any given time helps meet those needs."

In addition, BiddingForGood is now working with over 50 brands who wish to reach affluent consumers through their causes just as they are purchasing through a unique performance based product advertising program. In 2009 the company secured over $5 million of retail product value which it offers to clients to help increase their auction catalogues. Marketers get measurable marketing exposure and customer acquisition from winning bidders. Carson says, "Marketers are looking for measurable cause marketing and our platform is built for measurability." Scott Miller from Dancing Deer adds, "BiddingForGood is consistent with our philanthropic values while providing us with performance based marketing and customer acquisition."

The net effect is that the company is re-positioning its well known fundraising tool (build your own auction website) into a fundraising platform that aggregates consumers and advertisers to bring incremental supply and demand value to non-profits and school fundraisers.

With thousands of customers across all 50 states, online auctions powered by BiddingForGood have generated over $75 million for non-profit organizations by allowing organizations to secure more items, more bidders and ultimately raise more money (Note the "Red" campaign with its numerous Fortune 500 marketers has raised $130 million). In 2009 alone the company hosted over 2,600 auction events. Fundraising clients receive value from BiddingForGood's incremental bidders and provided items as well as the ability to reach beyond the bidders in the room to their entire constituency. In addition, the platform allows clients to sell sponsorships, raise cash donations, sell tickets to their gala, and conduct online item acquisition campaigns. Company weblogs suggest that overall clients get a 4:1 payback from its services.

With major brands now beginning to partner with BiddingForGood, the company felt the need to make their name convey exactly what it is they do. "We have received positive feedback thus far and feel confident that the change will be widely accepted across the platform from our non-profit clients to individual bidders to our top brand marketing partners," says Carson. Emily DiMaggio, VP of Development for Massachusetts Society for Prevention of Cruelty to Children (MSPCC) adds, "BiddingForGood gives us visibility to a whole new group of bidders while providing us a state of the art auction tool, and donated items."

The change to the BiddingForGood name represents how the online auction network has evolved into a sophisticated triangle where consumers, charities, and commercial item donors all benefit from each other. The faster this "virtuous circle" grows the more valuable it becomes for all.

About BiddingForGood

BiddingForGood is the leading cause-related e-commerce platform connecting consumers and marketers to non-profit fundraising auction events. Online auctions powered by BiddingForGood have generated over $75 million for non-profit organizations by allowing them to expand their bidder universe and access a new source of items. Clients can secure more items by delivering a stronger and more measurable marketing value to item donors to ultimately raise more money from more participants as well as BiddingForGood's donated item program. The company works with dozens of brand marketers through a unique product advertising program to enable them to efficiently reach affluent donors just as they are spending in a trusted environment. This cause marketplace can be experienced at www.BiddingForGood.com.

CONTACT: Kaijsa Kurstin, 617-252-6417, [email protected]

SOURCE BiddingForGood

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