Rick Hulme and Beata Krzysztan have set out to create an online marketplace that combines the successful aspects of social networking with an easy-to-use auction format. Studentbid.net is targeted at students and faculty on college campuses, and the two founders, based in Oxford, England, will initially target colleges in the UK, with plans to expand to Europe, Australia, and the US.

Krzysztan is a former student, and she and Hulme got the idea for the site from a friend who is doing his masters degree at Oxford.

Studentbid.net taps into the buying and selling power of a concentrated community of peers, according to the website's press release. "Rather than paying shipping fees, grappling with unfamiliar methods of online payment, or traveling with difficulty for far-away goods, a student may simply walk down the hall and complete a transaction with ease."

To help it create a trusting online community, Studentbid.net will allow members to create a profile and post a picture as well as information about themselves. Only students and faculty with a valid university email address will be allowed to register.

To help get the word out, Studentbid.net is using a network of Brand Managers to promote the site to fellow students. The site will officially launch this week with a new design.

http://www.studentbid.net