FedBid Announces Department of Labor Contract Award

Follows Recent Awards by Department of Education, Commerce and Library of Congress

VIENNA, VA, May 22, 2012 – FedBid, Inc., the online reverse auction marketplace, announced today that the United States Department of Labor has awarded the company a multi-year agreement to provide reverse auction services. The award includes a base year, plus four option years.

Douglas Stuck, senior vice president of FedBid, said, “FedBid is proud to partner with the Department of Labor to help improve efficiency, save taxpayer dollars and expand opportunities 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, “By using the online marketplace to streamline the procurement process, the Department of Labor will see a significant reduction in the administrative burdens of managing commodity buys.”

This latest contract award follows other recent Federal awards from the Department of Commerce, the Department of Education and the Library of Congress.

FedBid’s fully-managed online marketplace is used by thousands of Buyers from across the Federal Government and commercial market to improve the buying process for goods and services. FedBid helps acquisition professionals meet and 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®

CONTACT: Luther Tupponce, 703-738-6886, Lu.Tupponce@FedBid.com

Released: MAY 22, 2012

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