Launch of New Penny Auction Website Expected by Year End
DANA POINT, CA – December 9, 2011 – (Motor Sports Newswire) – ePunk, Inc., (PINK SHEETS: PUNK.pk) is excited to announce that the beta version of www.BidPunks.com – the first ever power-sports centric penny auction website – has recently surpassed the thousand member milestone. Management is currently hard at work on the final version of the website, which is expected to launch before the end of the year in conjunction with an aggressive sales and marketing campaign.
The main impetus behind ePunk’s decision to launch www.BidPunks.com was the success of its yearlong relationship with leading penny auction website, Quibids.com. On average, Quibids.com sold one of ePunk’s 150cc Heritage motorized scooters per day, generating approximately 2.6 million dollars in annual profits. After recognizing the burgeoning demand and unique profit potential for its products in the online penny auction marketplace, management began leveraging its unique e-commerce capabilities to build one of the most attractive penny auction websites online.
Commenting on this new development, ePunk Inc. CEO Jesse Gonzales stated: “www.BidPunks.com is revolutionizing the way consumers shop for power-sports products with unprecedented functionality and bidding tools. Participants can save up to 98% on high-end goods and have an exhilarating and addictive shopping experience. Membership levels have been extremely encouraging thus far. We expect sales attributable to the website to increase significantly heading into 2012 as we launch the final version of the website in conjunction with an aggressive online marketing campaign.”
Mr. Gonzales continued: “Our www.CountyImports.com division enables ePunk to overcome the two largest barriers to success in the penny auction market. It provides credibility and significant amounts of online traffic that come with being one of the largest and most highly regarded online retailers of power-sports products in the U.S.”
Mr. Gonzales concluded: “Although the penny auction marketplace is becoming increasingly more popular from a competitive standpoint, I feel that we’ve identified a severely under-served niche where we can quickly build an entrenched position before most of our competitors even become aware of the massive opportunity at hand. This website combines the most exciting aspects of social networking, retail, gaming, and entertainment. Once fully operational, I expect it to become one of our biggest revenue streams.”
More About www.BidPunks.com:
With a sleek layout and intuitive interface molded in the fashion of leading penny auction sites like Quibids.com, BidCactus.com, and Skoreit.com, www.Bidpunks.com was designed to be an entertaining haven for competitive shoppers. Whether casual bidders, powersports enthusiasts, or professional retailers, the site offers the opportunity to purchase deeply discounted products using an exciting purchasing process. In addition to being properly capitalized and well-staffed, www.BidPunks.com is equipped with a number new features such as its “Buy It Now” option. This helps overcome the sunken cost fallacy currently plaguing the market by allowing non-winning bidders to contribute their losing bids towards the purchase of auction items at retail price.
The www.BidPunks.com penny auction website primarily auctions motorbikes, gas motor scooters, ATV’s, Go Karts, dirt-bikes, and related accessories and performance parts. BidPunks.com displays live auction activity with real-time bids, available items for bid, and countdown clocks for each bid. The website is graphically animated, user-friendly, interactive and fun.
How The www.BidPunks.com Process Works: A customer registers to become a member of the site and subsequently purchases a package of “Bids”. The member then locates an item they wish to compete for and places bids as the clock counts down. Once a bid is placed, price of the item being auctioned increases by approximately 5 to 10 cents and the auction clock will reset to 10 to 20 seconds, allowing another bidder to participate. The last participant left in the auction, and the clock reaches -0- wins the right to purchase the item at the final price. The average price will vary depending on the MSRP of the item being listed but generally the item will close 85% below retail price.
ePunk, Inc. is a conglomerate of six businesses: www.BidPunk.com, www.CountyImports.com, www.CountyImportParts.com, www.CountyCruisers.com, www.ViperSportUSA.com and most recently, PCH Rides.
Capitalizing on its vast network of distributor and dealer contacts, ePunk has leveraged it relationships to uniquely target different demands within the industry via individual businesses, each serving a specific niche with carefully selected products and branding specific to that market. The automatic fulfillment system that made CountyImports.com a success in a matter of months has been expanded to help each business focus on marketing, customer service and quality guarantee, rather than the costly labor of managing of inventory, shipping and handling.
By using this automated fulfillment system for each e-commerce website, ePunk has been able to eliminate overlap in overhead costs to allow each business to focus specifically on increasing sales and revenue. Through various relationships with foreign manufacturers, ePunk is bringing to market several unique and affordable products that the competition is unable to match, both in quality and price. While years of expedited fulfillment on a vast array of competitively priced products has built the company a large customer base, these imported products stand to make ePunk a market leader within this industry.
Most recently, ePunk, Inc. opened its first physical retail location in Dana Point, California called PCH Rides. The retail store offers a wide selection of boutique products, available for sale or rent and specifically designed for a higher-end market and strategically placed in area with no current competition. The location will also serve as corporate headquarters for ePunk, Inc. and its various businesses.
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law. There is no assurance that a definitive agreement will be completed.
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SOURCE: ePunk, Inc.