Swoopo, a German entertainment shopping portal, is launching in North America. Launched in Germany in mid-2005, Swoopo auctions off high-value brand name products at bargain prices. The company claims its auction procedure is unique in the world. "Anyone who thinks of a strategy and submits his bid wisely has a good chance of purchasing his favorite product through the auction at a great price," said Swoopo CEO Gunnar Piening. The auction portal was founded by SoFina GmbH in Munich, at first under the name TeleBid. A little over two years after its launch in Germany, the British TeleBid site was launched, and in May 2008 the portal opened in Spain.
Shortly before the US-launch, TeleBid was renamed Swoopo. "We decided on a name change because we need a name that is universally applicable and recognizable in all countries," ssaid Piening. Swoopo records 5,000 new registrations daily. In 2007, sales volume reached 11 million Euro, and for this fiscal year the expectations lie at 20 million Euro.
http://www.swoopo.com
