Bidnamic turns three
Happy third birthday to Bidnamic!
To celebrate the third anniversary of Bidnamic hitting the market, we caught up with Bidnamic’s co-founders Liam Patterson and Dr Ingvar Kraatz, our CEO and COO.
Having already founded an ethical ecommerce marketplace, Liam was well aware of the difficulties facing online retailers. Ingvar’s technical understanding of betting and calculating the resulting bid outcomes would soon become beneficial for more than sports gambling.
Liam and Ingvar soon opened a print-on-demand online store named Dizinga, offering over 400 million SKUs. The pair came to discover the incredible task behind managing accurate bid prices for each SKU, and wanted to cut wasted ad spend.
Combining Liam’s experience and zeal for ecommerce with Ingvar’s algorithmic expertise enabled them to create a unique machine learning engine to take care of the bidding for them.
Investors in Dizinga were impressed and initially asked if they could share this bid management approach with some of their other investment businesses. Success after success prompted investors to recommend taking the algorithmic platform to market.
“An Englishman, a German and a Mexican walk into a bar…”
…and came up with Bidnamic. A few years down the line, over 50 new team members, and our very first Google Shopping Playbook, Bidnamic is thriving, and we’re ecstatic to bring our platform to hundreds of retailers worldwide.
Watch Liam and Ingvar look back over the past ten years and share some of their favourite moments.
To Liam, Ingvar, and everyone at Bidnamic – thank you for all your incredible hard work and team spirit. This time next year we hope to update you with some more exciting achievements.