Limbo 41414 raises $8M for quirky auction site
Limbo 41414, a Burlingame, Calif. company that offers auctions of goods, and is focusing on mobile phone users, has raised $8 million more in venture capital backing.
The company is different because winners of its auctions are those who offer the lowest unique bid. The idea is that lots of people will offer a low 1 cent for goods, but then they won’t be the only one bidding that price, and so will be disqualified… Continue Reading