News Articles
- May 4, 2012
For Sourcing, Throughput = Success
By Kris Colby
Kris Colby, Senior VP of Commercial at FedBid, offers five rules for maximizing the throughput of sourcing efforts and applying those benefits to a wide range of spend. He notes that in addition to boosting savings, maximizing throughput will increase procurement discipline, supply risk management, transparency and support to customers and stakeholders in the business.
- April 27, 2012
FedBid: Fueling the Double Bottom Line
By Ted Leonsis
AOL Vice Chairman, NHL Washington Capitals and NBA Wizards owner, Revolution Growth Fund Partner and FedBid Board Member, Ted Leonsis believes businesses do well by doing good; when businesses live by the ethos of giving more than they take, they have happy employees and are successful as a result – an effect he calls the “double bottom line”. Here, on his personal blog, Ted offers insight on what makes FedBid a double bottom line company.
- April 10, 2012
The Most Influential Federal IT Leaders Since 1987: A Short List
Federal Computer Week Insider
Federal Computer Week features Dr. Steven Kelman, on its just-released power list of the most influential leaders shaping federal IT policies and technologies. Kelman, the former head of the Office of Federal Procurement Policy in the White House’s Office of Management and Budget, continues to elevate and advocate the need for acquisition innovation as a key member of FedBid’s Advisory Board.
- March 19, 2012
Online Reverse Auctions: A Cost-Saving Inspiration for Businesses
The Dartmouth Business Journal examines e-procurement solutions, finding that reverse auctions offer buyers far greater opportunity than traditional purchasing options to capitalize on large savings that result from intense competition between suppliers, while saving time, increasing efficiency, expanding supplier access and facilitating decision-making.
- March 9, 2012
The Benefits of Moving Government Procurement Online
By Oki Radich
Oki Radich, senior lead subcontracts administrator at BAE Systems, discusses in his article the benefits of e-procurement by sharing with the audience the potential of billions of dollars in federal savings by using online tools such as reverse auctions like FedBid.com.
- March 8, 2012
Steve Case Talks About Innovation and His Big Bets
By Julia Boorstin
AOL co-founder Steve Case speaks about his passion for building breakout companies with multi-billion dollar potential capable of driving America’s economic growth. He discusses the first investment of his $450 million growth fund, Revolution Growth, in FedBid, an online marketplace whose reverse auction model has proven to help the government spend more efficiently.
- January 19, 2012
Steve Case, Ted Leonsis Fund Ebay For Feds
By Fred Dreier, Forbes
Billionaire Steve Case and Washington Capitals owner Ted Leonsis have invested in Vienna-based Fedbid, an online marketplace in which private companies sell products to government agencies. The cash infusion marks the first investment by the Revolution Growth Fund, a $450 million fund backed by the America Online co-founder, Leonsis and Donn Davis, former CEO of Exclusive Resorts.
- January 17, 2012
FedBid Attracts Private Investors With Cost-effective Acquisition Model
By Jill R. Aitoro, Washington Business Journal
The decision by entrepreneurs Ted Leonsis and Steve Case to make Vienna-based FedBid Inc. the first investment for their $450 million Revolution Growth fund reflects not only on the company’s success but the growing appeal of its business model to budget-strapped federal customers. The goal of the investment is to accelerate the growth and reach of FedBid, which has seen the annual value of purchases made through its online portal rise more than 60 percent since 2008.
- January 16, 2012
Revolution Growth Invests in Vienna-based FedBid
By Thomas Heath, The Washington Post
Washington entrepreneurs Ted Leonsis and Steve Case have made the first big investment with their $450 million Revolution Growth fund, acquiring a major stake in Vienna-based FedBid, which they hope to grow into an online marketplace for tens of billions of dollars in government procurement. The investment was made less than two months after the two former AOL executives announced the formation of the fund, a private investment vehicle designed to reignite the high-tech, entrepreneurial culture that dominated Washington in the 1990s.
- December 12, 2011
Federal Computer Week - Reverse Auctions: A Bid For Budget-conscious Business
By Matthew Weigelt, Federal Computer Week
Federal Computer Week’s Matthew Weigelt follows up on his prior report on use of reverse auctions by the federal government with an in-depth look at their application in the State Department. According to State’s director of acquisition management, Cathy Read, agency officials must consider tools like reverse auctions or they won’t be able to adjust to the ongoing need to reduce the cost of government operations.
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