bidserioustiwhpressrelease11.18.13
TRANSCRIPT
FOR IMMEDIATE RELEASE Contact: Lance LaCour
President/CEO
Katy Area Economic Development Council
(281) 396-2200
In Bidness: Online auction firm Bid Serious makes
debut as business venture protégé of Technology
Incubator West Houston
Katy, Texas — Nov. 18, 2013
Last month, the Technology Incubator West Houston (TIWH) welcomed the debut of its first
major start-up client, the online penny auction company, Bid Serious (www.bidserious.com).
The co-founders of Bid Serious, Cory Owens and David Lee, who have backgrounds in multi-
media and e-commerce, worked extensively with the TIWH to gather input and feedback during
much of Bid Serious’ planning phase.
“We’re so excited about the launch of Bid Serious and thankful for all the help we received from
the TIWH,” said Owens, co-founder and CEO of Bid Serious. “From regular consultations to
gather start-up advice, to the input while developing our business and marketing plans, our
partnership with TIWH has been invaluable to the successful launch of Bid Serious.”
The TIWH was launched to groom entrepreneurial ventures considered likely to spur economic
growth and greater employment throughout the Katy area and West Houston, and the TIWH
officials who worked directly with Bid Serious have high praise for its founders.
Lance LaCour, President and CEO of the Katy Area Economic Development Council, said the
co-founders were the perfect match for the TIWH. “They were 1,000-percent committed to a
well-designed business plan and they have a team of top-quality professionals to ensure they
execute that plan,” said LaCour, who also serves on the TIWH Board of Advisors and Mentors
with TIWH Executive Director Art Beatty.
During the company’s early stages, the TIWH was able to provide technical and financial advice,
and Owens and Lee responded quickly and favorably, said Beatty. “We provided financial,
insurance and marketing perspectives for them to take into account, and we reviewed three
different versions of their business plan,” Beatty said. “They took suggestions well and they’ve
implemented everything very well.
“In fact, they’re one of the better start-up companies who’ve sought our help,” Beatty said.
“Most recently, we gave them some leads on a number of potential financial backers.”
Bid Serious offers a bid-to-win auction with a discount opportunity enabling savings as much as
85 to 90 percent. By contrast, traditional auction sites have a savings average of 35 to 40 percent.
In addition, every Bid Serious auction has a “Buy Now” feature. The Bid Serious site includes a
click-ready animation featuring a talking piggy bank called “Bid-Witts” who serves as a guide
for the site and explains how the auction process works.
Owens said Bid Serious already has tailored one distinguishing feature — speedy service and
response to customers. “We’re committed to getting the products to customers as quickly as
possible,” he said, adding that Bid Serious is working to increase the number of auctions per
hour presented to customers. “Ultimately, it’s about how many auctions you can present on a
daily basis,” Owens said. He added that the marketing campaign for Bid Serious will be
strongest in states like Texas, California and Illinois, where online bidding is already strong.
About Technology Incubator West Houston
The Technology Incubator West Houston’s mission is to advance entrepreneurial success via
education, networking and funding provided by engaged citizens. The TIWH supports practical
and sustainable opportunities that can be implemented within the community and also partners
with others to leverage resources and capabilities.
TIWH mentors are seasoned, successful entrepreneurs and businessmen eager to help individuals
and teams to become successful and robust companies. Advisers work with TIWH clients, in
order to help bring ideas and projects to market. For information, please contact: TIWH Client
Services, c/o [email protected], 281-396-2201, 438 FM 1463, Katy, Texas 77494.
About Katy Area Economic Development Council
Founded in 2003, the Katy Area EDC’s mission is to establish the Katy area as the premiere
location for families and businesses through planned economic growth and economic
development. Since its inception, the Katy Area EDC has grown to more than 170 members and
assisted in the creation of more than 12,000 jobs and more than $1.3 billion in capital
investment.
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