FedBid Announces Department of Commerce Contract Award

VIENNA, VA, April 17, 2012 - FedBid, Inc., the online reverse auction marketplace, announced today that the United States Department of Commerce has awarded the company a new multi-year agreement to provide reverse auction services. The new award includes a base year plus four option years.

“The Department of Commerce works day in and day out to promote American jobs and economic growth, both domestically and globally,” said Douglas Stuck, senior vice president of FedBid. “FedBid is proud to partner with Commerce to help it fulfill its critical mission by improving efficiency, lowering taxpayer costs and bringing the opportunity to win federal contracts to small businesses around the country. In fact, during just the last fiscal year, FedBid facilitated nearly a billion dollars in awards to small businesses.”

Stuck added, “FedBid’s simplified process continues to dramatically reduce the administrative challenges of managing commodity and spot buys—maximizing competition among tens of thousands of qualified sellers to meet the Department’s needs. We look forward to working with the Department to save money and improve acquisition efficiencies.”

The Department of Commerce contract award comes on the heels of other recent federal awards, including a multi-year agreement with the Department of Education and a contract with the Library of Congress.

FedBid’s managed marketplace is used by thousands of buyers from across the Federal Government to solicit competing bids from over 50,000 companies. FedBid helps acquisition professionals meet and often exceed the savings requirements and best practices initiatives advocated by the White House’s Office of Management and Budget, including the Accountable Government Initiative Presidential Memorandum issued in 2010.

ABOUT: FedBid, Inc.

FedBid® is the fully-managed online marketplace, revolutionizing how the government and businesses buy. By creating a new world of ‘FedBid-able’ buying and selling, where the principles of opportunity, transparency and competition prevail, FedBid empowers and energizes its customers, giving them the confidence to take control of the buying and selling process, and freeing them up to focus on moving their organization forward. For more information, visit FedBid online at www.FedBid.com or call (877) 9FEDBID.

FedBid — Better Buying | Smarter Selling®

Publisher: Department of Education and Library of Congress

Released: APRIL 17, 2012