WowBid operates a mobile app that runs live streaming auctions and online-style auctions for e-commerce products, where users participate by purchasing e-coins. The company launched its Android app in December 2018 and plans to release an iOS version this month. WowBid says it is the first to offer live streaming auctions in Indonesia and offers two auction formats: Live Streaming Auction Video (hosted by professional hosts) and Online Auctions similar to eBay. The startup aims to evolve into a marketplace where anyone can sell products through live auction videos. CEO Rafli Ridwan, who has a background in the telcoms industry and is an investor in online businesses, said the startup will use the funding to improve services and drive innovation. WowBid promotes daily lower-price offers compared with typical seasonal promos, though the company did not disclose how it secures brand deals. It plans longer-term expansion into Malaysia, Singapore, Thailand, the Philippines, Vietnam, and Myanmar.

Total raised

$5M

Funding rounds

1

Latest round

Series A

Latest activity

Apr 2019