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["QuiBids Analysis"]
[null,null,"The entertainment shopping industry"]
[]
[null,null,"Link to CEO interview"]
[null,null,null,"I'm simultaneously sad that I didn't create this and"]
[null,null,null,"horrified at how this industry exploits innummeracy."]
[null,null,null,"and calls it entertainment."]
[null,null,null,"(No link available: it’s been removed from the Inter-Webs.  Hmmm.)  "]
[]
["Notes"]
[null,"The company run \"Events\" where a product will be sold to the last \"bidder\" when time expires."]
[]
[null,"Bids cost",null,null,null,"$",0.6,null,"No discount on bids in bulk!  Even 800 bids cost $480.  "]
[null,"Auctions increment at",null,null,null,"$",0.01,null,"So each bid increases the \"price\" by 1 cent but gives QuiBids revenue of 60 cents."]
[null,"Each new bid adds",null,null,null,"seconds",5,null,"It's 5 seconds by the end; more like 20 sec or 10 sec earlier on in the \"auction.\""]
[]
[null,"Seems to create a great gambling incentive because \"pot odds\" are always favorable: risk $0.60 for a $300 gain."]
[]
[null,"Deal Dash vs. QuiBids anlaysis was totally wrong!"]
[null,null,"Penny Auctions Blog"]
[]
[null,"Company revenue estimate:"]
[null,null,"days",null,null,null,3]
[null,null,"auctions",null,null,null,485]
[]
[null,null,"auctions per",null,null,"day",{"$f":"G24/G23","v":161.66666666666666}]
[null,null,"auctions per",null,null,"month",{"$f":"G26*30","v":4850}]
[null,null,"auctions per",null,null,"year",{"$f":"G27*12","v":58200}]
[]
[]
[null,"VERY INTERESTING FEATURE"]
[null,null,"If you spend $60 on bids and te retail price is $200, you can buy at Retail - cost of bids,"]
[null,null,"so you buy the item for $140"]
[]
[null,"BTW, the word \"auction\" is being being misused.  Let's call it an \"Event.\""]
[]
[null,"Thus, Events  can end in one of three ways for each participating bidder:"]
[null,null,1,"You win.  You get to buy the item at the \"final bid price.\""]
[null,null,2,"You lose.  You decide to buy the item at retail less the cost of your bids."]
[null,null,3,"You lose.  You cry yourself to sleep."]
[]
[]
[null,"How does this work out for the Company?"]
[]
[null,null,1,"The company gets the revenue from the \"bids.\"  That's 100% gross margin."]
[null,null,2,"The company loses money on the one winner when they buy the product"]
[null,null,3,"The company makes some money on the \"auction\" losers who purchase the product at Retail Minus."]
[null,null,null,null,"By the way, this excludes Bid Spoilage!"]
[null,"Let's quantify:"]
[]
[null,null,null,"Product"]
[null,null,null,null,"Retail Cost","$",500,500,500,500,9,9,9,9]
[null,null,null,null,"Wholesale Cost","$",300,300,300,300,9,9,9,9]
[]
[]
[null,null,null,"Event Results"]
[null,null,null,null,"Bidders","(none)",10,10,20,20,10,2,2,2]
[null,null,null,null,"Final Price","$",25,25,25,50,6,0.4,0.4,0.28999999999999998]
[]
[null,null,null,null,"Winners",null,1,1,1,1,1,1,1,1]
[null,null,null,null,"Losers purchasing","% losers",0.2,0,0.1,0.05,1,1,0,1]
[null,null,null,null,"Losers purchasing","(none)",{"$f":"(G57-G60)*G61","v":1.8},{"$f":"(H57-H60)*H61","v":0},1.9000000000000001,0.95000000000000007,9,1,0,1]
[]
[null,null,null,"Revenue from Bids"]
[null,null,null,null,"Bids","(none)",{"$f":"G58/$G$14","v":2500},{"$f":"H58/$G$14","v":2500},2500,5000,{"$f":"K58/$G$14","v":600},40,{"$f":"M58/$G$14","v":40},28.999999999999996]
[null,null,null,null,"Bid Revenue","$ ",{"$f":"G65*$G$13","v":1500},{"$f":"H65*$G$13","v":1500},1500,3000,360,24,24,17.399999999999999]
[]
[null,null,null,"Revenue from Losers Purchasing"]
[null,null,null,null,"Losers Purchasing","(none)",{"$f":"G62","v":1.8},{"$f":"H62","v":0},1.9000000000000001,0.95000000000000007,{"$f":"K62","v":9},1,{"$f":"M62","v":0},1]
[null,null,null,null,"Avg Bids","$/per loser",{"$f":"G66/G57","v":150},{"$f":"H66/H57","v":150},75,150,{"$f":"K66/K57","v":36},12,{"$f":"M66/M57","v":12},8.6999999999999993]
[null,null,null,null,"Additional paid","$/per loser",{"$f":"MAX(0,G52-G70)","v":350},{"$f":"MAX(0,H52-H70)","v":350},425,350,0,0,0,0.30000000000000071]
[]
[null,null,null,null,"Additional Paid","$",{"$f":"G71*G69","v":630},{"$f":"H71*H69","v":0},807.5,332.5,{"$f":"K71*K69","v":0},0,{"$f":"M71*M69","v":0},0.30000000000000071]
[null,null,null,null,"Winner Pays","$",{"$f":"G58","v":25},{"$f":"H58","v":25},25,50,6,{"$f":"L58","v":0.4},0.4,{"$f":"N58","v":0.28999999999999998}]
[]
[]
[null,null,null,"Total Revenue"]
[null,null,null,null,"Bids","$",{"$f":"G66","v":1500},{"$f":"H66","v":1500},1500,3000,{"$f":"K66","v":360},24,{"$f":"M66","v":24},17.399999999999999]
[null,null,null,null,"Product Purchase","$",{"$f":"G73+G74","v":655},{"$f":"H73+H74","v":25},832.5,382.5,6,{"$f":"L73+L74","v":0.4},0.4,{"$f":"N73+N74","v":0.59000000000000075}]
[null,null,null,null,null,"$",{"$f":"SUM(G78:G79)","v":2155},{"$f":"SUM(H78:H79)","v":1525},2332.5,3382.5,366,24.4,24.4,17.989999999999998]
[]
[null,null,null,"Product Cost"]
[null,null,null,null,"Number Sold","(none)",{"$f":"G60+G62","v":2.8},{"$f":"H60+H62","v":1},2.9000000000000004,1.9500000000000002,{"$f":"K60+K62","v":10},2,{"$f":"M60+M62","v":1},2]
[null,null,null,null,"Cost","$",{"$f":"G53*G83","v":840},{"$f":"H53*H83","v":300},870.00000000000011,585,90,18,9,18]
[]
[null,null,null,"Gross Margin",null,"$",{"$f":"G80-G84","v":1315},{"$f":"H80-H84","v":1225},1462.5,2797.5,{"$f":"K80-K84","v":276},6.3999999999999986,{"$f":"M80-M84","v":15.399999999999999},-1.0000000000001563E-2]
[null,null,null,null,"%","%",{"$f":"G86/G80","v":0.61020881670533644},{"$f":"H86/H80","v":0.80327868852459017},0.62700964630225076,0.82705099778270508,0.75409836065573765,0.26229508196721307,0.63114754098360648,-5.5586436909402801E-4]
[]
[]
[]
["Another interesting thing is that they have \"Auctions\" where the prize is 15 Bids."]
[null,"Very meta!"]
[null,"What is the cost of a bid?"]
[null,"While creating it costs $0, the bids have value in other auctions."]
[null,"It is NOT costless for QB to put more \"Bid Units\" into their economy."]
[]
["The paradox is that bids cost the company $0.60 if you look at it one way and $0.00 if you look at it another way."]
[null,"It's like how light is both a wave and a particle."]
[]
["Company Revenue and Profitability"]
[null,null,null,"Avg Rev",null,"$",{"$f":"(G80+L80)/2","v":1089.7}]
[null,null,null,"Avg GM",null,"$",{"$f":"(G86+L86)/2","v":660.7}]
[null,null,null,null,null,"$",{"$f":"G102/G101","v":0.60631366431127831}]
[]
[null,null,null,"Annual"]
[null,null,null,null,"Rev","$ 000",{"$f":"G101*$G$28/1000","v":63420.54}]
[null,null,null,null,"GM","$ 000",{"$f":"G102*$G$28/1000","v":38452.74}]
[]
[]
["On top of this the company has rules about accounts only being able to win 12 times over a month or only for one expensive item a months"]
["but check this out: they have auctions allowing you to remove 4 recent wins from your total so you can win more."]
["And people bid on this.  I just saw one which sold ofr $6.20, meaning people spent over $360 in order to have the company change the rules for them!!!!!!"]
["Can you say 100% gross margin?"]
["Can you say a rigged game."]
["I'm so jealous."]
[]
[]
["http://www.cs.rpi.edu/~magdon/courses/casp/projects/Zaman.pdf"]

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