TC50: Gift Card Auction Site Rackup Aims To Shake Up Market
A "fast auction" in which the high bidders buy themselves gift cards and compete for bonus amounts on the card, so that different cards sell at different discounts.
"Rackup’s team is lead by Marc Rochman and is supported by a board that includes Stanford Prof. Paul Milgrom, one of the most prominent experts in auction theory, and Duke Prof. Dan Ariely, author of “Predictably Irrational”. The company raised early-stage funding from the founders and some private investors, amounting up to $3.5 million."
HT: Joshua Gans
Thursday, September 17, 2009
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1 comment:
very interesting idea... good luck with this company :)
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