Shoppers to Name Their Own Deals on oBaz
Tired of getting offers for daily deals that have nothing to do with your real life? Now shoppers can join forces and create their own wish list of money-saving deals.
Launching Tuesday, Chicago-based oBaz (short for online bazar) gives consumers a way to name their own deals. The new marketplace reverses the standard operating procedure for businesses, which often use promotions -- including special offers through Groupon or LivingSocial -- to get new customers in the door or to move seasonal merchandise.
Putting Buyers in the Driver's Seat
With oBaz, promotions filter from the bottom up: A group of moms can rally together for discounted baby gear, for example, or students can band together to get a deal on test-prep courses.
When 25 people or more join a prospective offer, oBaz's team of hagglers get to work to seal a deal for the group. Integration with social-media sites, such as Facebook and Twitter, make it easy to build a group. Once an offer is inked, it's available exclusively to the group members, which receive an email about the deal.
"OBaz is entirely buyer-driven. We're here to help you find what you're looking for, not just push what today's advertiser is offering," co-founder and CEO Brian Ficho says. " It's in our best interests [to get good deals]. The better products we get, the better redemption rates we have."
Venture-capital group LightBank, created by Groupon co-founders, apparently sees the site's potential. OBaz received seed funding from the group in June 2011.