#Unison marketplace software#
#Unison marketplace free#

The Marketplace is free for Sellers to use. The winning Seller then remits the fee back to Unison Marketplace (formerly FedBid). Buyers pay a performance-based transactional fee (fee is only paid if the Buyer awards the contract) that is automatically built into the bidding process. Buyers can select any or none of the bids offered, and they can cancel or repost the auction at any time.

lowest) bid in the auction, and they can improve their bid if not. While bidding, Sellers cannot see other bidders’ prices but can tell whether they have the leading (i.e. If the transaction doesn't save the buyer money, they're not obligated to make the purchase. The company gets a small percentage fee on top of the contract price. īuyers save an average of 11% on purchases, which average $45,000. Unison Marketplace, formerly FedBid offers a full-service, reverse auction marketplace where government and commercial Buyers (anyone in a position to purchase) post purchase requirements and then Sellers of those commodity products and services bid on those requirements. The new URL for FedBid is Operational model FedBid is now operating under the name Unison Marketplace with a new URL, however the Marketplace continues to offer the same functionality, customer service and account management it has since 2001.

#Unison marketplace software#

The Unison brand encompasses all the brands formerly under Compusearch Software Systems, Inc., including Compusearch, PRISM, SpectrumCLM, FedBid, TopVue, FedConnect, and Virtual Acquisition Office (VAO). Compusearch Software Systems is the leading provider of software and insight to government agencies, program offices, and contractors. On February 1, 2019, it was announced that Compusearch, owner of FedBid, has rebranded to the name Unison Software, Inc. FedBid will continue to operate under its own brand. On October 3, 2017, Compusearch announced the completion of the acquisition of reverse auction marketplace provider, FedBid, Inc. On January 20, 2015, FedBid announced that Joseph Jordan has assumed the role of Chief Executive Officer, effective January 1, 2015. Originally created to respond to federal government purchasing needs, in 2013 FedBid expanded its reach to include state and local government, education institutions and commercial markets, with greater market expansion expected in as a result of the Revolution Growth investment. Army Kim Cooke, Founder and Managing Director of Blue Water Capitol Susan Bostrom, former CMO of Cisco and Scott Hilleboe, also with Revolution Growth. The FedBid Board also includes General George Casey, the former Chief of Staff of the U.S. As part of the agreement, Leonsis was named Vice Chairman of the Board of FedBid. Headed by Steve Case, Ted Leonsis and Donn Davis, Revolution Growth is now the largest investor in FedBid. In January 2012, FedBid won a major investment from the newly launched (December 2011) Revolution Growth Fund. For FY2010, the company reported that $1.15 billion worth of purchases were conducted through its site in the prior fiscal year, a 30% increase over FY2009 and a 50% increase over FY2008.

In October 2009, FedBid announced that a record $875 million worth of purchases had been conducted through its site in FY2009, a 20% increase over FY2008. In 2007, FedBid was awarded a business method patent for its Auction Based Procurement System. Īccording to company officials, transaction volume through grew from $31 million in 2003 to $94 million in 2004, and $204 million in 2005. federal orders to purchase order (PO) transactions for bigger purchases of commercial items, including commodity-type goods and simple services. The new FedBid expanded the focus of its online marketplace from U.S. In 2001, the FedBid online marketplace reopened under the ownership of Advance Technology, Inc., which changed its name to FedBid, Inc. The company ceased operations in December 2000 when it could not secure a second round of financing. The idea came to Phil Fuster (a FedBid founder) when he became frustrated with the process of bidding on an RFQ. of Gaithersburg, Maryland and initially raised more than $5 million in equity funding (, Harvard Investment Group, Sun Capital Partners, and other equity funds) to launch the FedBid website.

FedBid was founded in 1998, by Phil Fuster (CEO) and Luigi Canali (CTO) as a division of privately owned Procurement Technologies, Inc.