Silicon Prairie News has covered Proxibid growth and success quite often over the years, so it is never a surprise to us when we hear great news about this company – and we’re happy to share it.
Proxibid is again hitting the headlines with new year’s news of its acquisition of Wavebid, developer of the first cloud-based auction management software.
Wavebid’s platform manages tens of thousands of auctions and offers a suite of tools such as photo and cataloging management, clerking, accounting, websites, and marketing. Proxibid’s acquisition of Wavebid creates a complete end-to-end solution for Proxibid sellers and positions Proxibid to accelerate its Powered By strategy, which enables sellers to leverage Proxibid’s technology on their own websites.
Silicon Prairie News recently spoke with Proxibid president and CEO, Ryan Downs, for background on how the acquisition came about. He said Proxibid and Wavebid have a long and rich history of collaboration and partnership, and a shared vision – and the deal came together at the right time for both companies.
Downs described the business relationship Proxibid shares with Wavebid as one of “natural synergy” that includes leading-edge technical collaboration, and a “stellar team of auction management software experts, technicians, and staff.” Proxibid brought on the entire Wavebid team, though Wavebid operations will remain in Minnesota. Proxibid, founded in 2001, is headquartered in Omaha with offices in London and now Minnesota.
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Downs added, “Our customers can anticipate all the first-rate Wavebid and Proxibid services and products to which they are accustomed; the acquisition helps us boost our product development and enhance Wavebid’s customer support. We are thrilled to add the Wavebid team to the Proxibid family, and their software to our platform. We plan to direct more resources to the Wavebid feature set to improve functionality and the user experience even more.”
“The acquisition of Wavebid is an important step for our company as we expand our platform’s footprint,” Downs said in a press release. “The addition of Wavebid enables Proxibid to offer an end-to-end solution that can easily be integrated into an auction company’s website or enable partnerships with other auction marketplaces. We have always been impressed with Wavebid’s innovation and their longstanding commitment to the industry. We believe together with Wavebid’s founders, Russ Hilk and Michael Long, we are positioned to offer the most compelling set of tools to advance the capabilities of the auction industry.”
Proxibid boasts more than $45 billion in inventory passed through its platform and supports 16 categories of auction items from heavy equipment and real estate to antiques and collectibles. Wavebid is used globally by thousands of users.
Russ Hilk, Founder and CEO of Wavebid said in a press release, “We are very eager to join the Proxibid team and accelerate the roll-out of the latest Wavebid products and features. I am even more excited about Wavebid’s role in the Powered By offering as this is an opportunity second-to-none to help shape a critical inflection point in the auction industry; offering the branding, flexibility, and customization auction companies have been asking for with the scale and support of a platform partner. Personally, this is why I started Wavebid – so I can bring the most innovative technology to the auction industry that I love.”
Visit www.proxibid.com and www.wavebid.com to learn more about these companies.
