NEW YORK, Sept. 2, 2014 (GLOBE NEWSWIRE) -- Hilco Streambank has been retained to sell the intellectual property assets of Bidz.com, Inc. The assets consist of trademarks, domain names (including Bidz.com and Buyz.com) and an extensive customer database containing over 6 million records. The sale is being conducted through an assignment for the benefit of creditors proceeding under California state law.
Bidz.com, Inc., established in 1998, was a leading online retailer of jewelry, featuring a live auction platform. The company quickly gained global recognition and generated over $100 Million from sales in 2010. The Bidz.com e-commerce platform averaged approximately 500,000 visits each month and sold, on average, 15,000 items per day. Declining sales and liquidity issues forced the company to shut down the website in June 2014.
"Bidz.com presents a unique opportunity to acquire a generic domain name with an already established following" said Jack Hazan, EVP of Hilco Streambank. "In addition to Bidz.com being a recognized brand in the industry, the brand and particularly the domain names, have broad application in all e-commerce related areas such as an auction site, an online marketplace or a flash sales platform" said Mr. Hazan.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
Parties interested in finding out more about this sale should contact Hilco Streambank directly using the contact information provided below:
Hilco Streambank to Sell Bidz.com Intellectual Property
Bidz.com Brand and Domain Names to be Sold in Auction This Fall
| Source: Hilco Global