FEDBID ANNOUNCES JOSEPH JORDAN AS NEW CHIEF EXECUTIVE OFFICER
Jordan will lead continued growth in competitive online marketplace for government purchasing, increased opportunities for businesses
VIENNA, VA – FedBid, the company that revolutionized online purchasing of commodity goods and services for government agencies through reverse auctions, today announced that Public Sector President Joseph Jordan has assumed the role of FedBid’s Chief Executive Officer, effective Jan. 1, 2015.
Under Jordan’s leadership over the past year, FedBid has helped its public sector customers – including the Departments of the Interior, Labor, State, Justice, and Defense – drive greater competition and efficiency in the purchasing process, while also saving taxpayer dollars. In 2014, FedBid’s customers estimated that purchases through FedBid’s marketplace helped achieve more than $100 million in price reductions.
“Through our reverse auction marketplace, we have increased dynamic competition in government purchasing, and have empowered small businesses, including thousands of veteran-, women- and minority-owned firms, to successfully compete for government contracts,” Jordan said. “At the same time, we have helped government agencies purchase quality goods and services more efficiently, while also saving the taxpayers hundreds of millions of dollars.
“As a marketplace, FedBid drives significant opportunities not only for government agencies in achieving their purchasing and budget goals, but also by leveling the playing field for small businesses to secure government contracts that allow them to grow their business and create good-paying jobs,” Jordan added. “I look forward to this opportunity to lead FedBid’s innovative and talented team and, along with my strong commitment to the integrity and transparency of our online marketplace, continuing to expand these opportunities for government agencies and businesses."
With a diverse career in both the private and public sectors, Jordan, who joined FedBid in January 2014, is well-suited to take the helm at FedBid. Jordan was confirmed by the Senate in May 2012 as the White House’s Administrator for Federal Procurement Policy, with responsibility for implementing acquisition policies covering nearly $500 billion in annual federal contract spending. From 2009 to 2011, he served as the Associate Administrator for Government Contracting and Business Development at the U.S. Small Business Administration, creating and overseeing programs that helped small businesses compete for and win nearly $100 billion in federal contracts each year.
Prior to joining the federal government, Jordan worked at McKinsey & Company, where he developed purchasing and supply management strategies for clients in several industries, as well as advised state governments on strategies for reducing costs and gaining efficiencies. In 2000, Jordan built and managed operations of web-based publisher-marketer Backwire, and became project manager for strategic planning and product development for Leap Wireless after it purchased Backwire.
“Since joining FedBid, Joe has brought expertise and innovative leadership to the company’s core business, driving competition, efficiencies and savings in the purchasing process for government agencies,” said Ted Leonsis, vice chairman of FedBid’s Board of Directors and co-founder of Revolution Growth. “Joe’s track record of success positions him perfectly for the role of CEO, guiding the company through the next phase of growth as it continues to transform the procurement process for government and business, saving taxpayers millions in the process.”
For the past 14 years, FedBid has provided more than 75 federal government agencies a full-service, online, reverse-auction marketplace—a proven strategy used by Fortune 500 companies—to buy commodity goods and services, successfully increasing competition, savings, and promoting government efficiencies. According to customer data, use of FedBid’s online marketplace has helped achieve hundreds of millions of dollars in savings for U.S. taxpayers in the form of reduced prices for commodity goods and services. Additionally, FedBid has successfully enhanced dynamic competition and increased the participation of small, minority-, women- and veteran-owned businesses through its free and open online marketplace.
Released: January 20, 2015