Skype Founders Invest in UK Penny Auction MadBid

According to Alan Colmenares of VentureBeat, Skype cofounders Niklas Zennstrom and Janus Friis’ investment group Atomico Ventures, have just recently invested more than $6 million in a first round of  funding for UK penny auction site MadBid.com.

“MadBid.com was launched in August 2008 in London UK and we are now the UKs leading pay-to-bid auction site. Described by many as the future of online shopping our aim is to offer our customers a unique and fun way to shop online with the opportunity to make savings on top brand products from the likes of Apple, Sony, LG, Samsung, Panasonic, Debenhams, B&Q, Sainsbury’s and many more.”-MadBid.com

Atomico obviously sees the penny auction industry to be  promising. The article quotes Mattias Ljungman, a partner at Atomico and member of the MadBid.com board, “We think there is a lot of room to innovate in e-commerce and introducing more entertainment to enhance the experience is one way to do this.” The investment will be used to expand MadBid throughout Europe.

Have you bid on MadBid.com? Let us know what your experiences have been! Discuss penny auctions.

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