Auctomatic

For those of you who didn't hear earlier, just under a month ago Kulveer and Harjeet Taggar sold Auctomatic, a free online service for auction creation and management, to Live Current Media for 2.5M pounds (approximately $5M). The two cousins started their business while still undergraduates studying and working in the university student society Oxford Entrepreneurs, a group for which Kulveer served as Founder and President (for networking with OE I strongly recommend creating an account on YouNoodle and joining the group). Auctomatic began as the internet auction site Boso.com (Buy Or Sell Online), a service for students supported by Oxfords Sad Business School. The site was almost immediately a home run; it grew into the largest online student marketplace in the UK and eventually hit the radar of Paul Graham of Y Combinator, who took them to the US and put them in touch with 19-year-old computer programmer Patrick Collison. The three revamped Boso.com to become Auctomatic, a service that helps businesses to sell goods on online auction sites like eBay and Overstock.com. The company launched last year with additional financial backing fromContinue Reading...