Bids get hotter at online auction site Dealite.in

By A Correspondent
Dealite.in announced the launch of their disruptive auction site where buyers compete with limited bidders in quick-format auctions to win products at up to 5 percent of the MRP. The founding team includes ex-eBay, ex-PayPal, IIM-A alumni and e-commerce industry veterans with a mission to break the price barrier for acquiring leading aspirational brands.

Unlike traditional penny auctions, Dealite differentiates by being exclusive to a limited number of bidders who buy a seat to participate in an auction. In return, Dealite offers them an equal amount of free bids which can be used in the auction. As the starting price is always zero and each bid increments by only Re 1, auction participants can win premium products at 5 percent of MRP. Dealite provides all participants an option to Buy it Now, where the entire seat cost and bids are added to the final discount.
In India, according to sources at a leading payment gateway, there are over 130 deal sites as of August, 2011, that are competing for 100+ million internet users. Dealite’s founder, Mr Vijayanand Shekokar claims, Dealite is going to turn the conventional e-commerce model on its head, and create an exponentially dealiteful experience for its users. We aim to make aspirational branded products available to all Indians at affordable prices.

As Head of Online Marketing Mr Sameer Khandelwal summed up, Dealite is the missing link in the Indian e-commerce evolution that will enable consumers to experience a new freedom in shopping & gaming. With delivery across India and alliances with leading payment gateway and logistics firms,