BNET Industries
Last Fiscal Year Sales:$207.4M
- Private
- US
Dow Jones Description
We are a leading online retailer of jewelry, featuring a live auction format. We have established our retail brand in the online marketplace by offering high-quality merchandise, a unique user-friendly shopping experience, and the opportunity for buyers to achieve significant cost savings versus traditional retail channels. A key to our success has been our ability to efficiently and cost effectively source closeout and regular jewelry merchandise, and rapidly respond to changing consumer demands for jewelry, watches and accessories. We offer our products through a continuous live format, featuring a $1 minimum opening bid, and a unique 15-second auction extension period that allows our auctions to continue until all bids are received. On select auctions we maintain a reserve price that must be met before a sale will be consummated. The majority of our auctions are short-term, often lasting less than one hour, providing immediate gratification to our customers and encouraging frequent visits and active viewing of our website.
President, Chief Technology Officer
Leon KupermanNumber of Employees 164
Peer Companies
NAICS Code Electronic Auctions: 454112
Recent Events
-
The tough economy crimped Bidz.com's performance in the third quarter
-
Roth Capital Downgrades Bidz.com BIDZ to Hold
-
Roth Capital Partners LLC downgrades Bidz.com Inc. to 'hold'
-
Bidz.com Announces Financial Results for the Third Quarter 2009
-
Bidz.com acquires the assets of Whitehall Jewelers
-
Bidz Acquires Whitehall Trademarks
-
ThinkEquity LLC reiterates Bidz.com Inc. at 'buy'
-
Akamai Accelerates Bidz.com, Leading to Significant Impact on Page Response Times and Site...
-
Morning Movers 8/11: AVNR, RWC, HLCS, ANPI, ANDS, AGM Higher; JAV, BIDZ, PETD, AHR, CIT,...
-
Bidz.com Signs Multi-Year Deal With Aramex to Offer Cost Effective Shipping Services to Its Middle...
-
If Insiders Are Unloading, Why Is BIDZ.Com Buying Back Shares?
News & Analysis
Filter by
bidz.com inc. and retail - All News and Analysis
SEC Investigation of Bidz.com Heats Up
Sam E. Antar submits: The Securities and Exchange has expanded its continuing investigation of Bidz.com (NASDAQ: BIDZ) to include the Company’s co-op marketing contributions and minimum gross profit guarantees. by Sam E. Antar
If Insiders Are Unloading, Why Is BIDZ.Com Buying Back Shares?
Sam E. Antar submits: For certain key Bidz.com BIDZ insiders it seems that diamonds are not forever as they continue selling shares, while the company buys back its stock, faces a Securities and Exchange Commission investigation into its accounting practices, and defends several lawsuits claiming securities and consumer fraud....
Now, Questions About BIDZ.Com's Auditors
Sam E. Antar submits: Bidz.com BIDZ should seriously consider replacing Stonefield Josephson Inc. as its auditors. According to a March 2007 Public Company Accounting Oversight Board (PCAOB) Inspection Report, Stonefield Josephson, Inc. was cited for significant deficiencies in five of thirteen audits reviewed or about 38.5% of audits sampled....
Bidz.com Q1: Earnings Top Guidance, Revenues In Line
Eric Savitz (Barron's) submits: Bidz.com BIDZ posted Q1 revenue of $31.2 million, down 49.6% from $61.9 million a year ago, but in line with Street expectations. The company posted EPS of 7 cents a share, beating guidance of 4-5 cents, and the Street consensus of 5 cents. The online...
BIDZ: Amtech Suggests Creating Short Squeeze
Eric Savitz (Barron's) submits: Tim Boyd, an analyst at American Technology Research, thinks he has a solution for what ails shares of Bidz.com BIDZ: a company-engineered short squeeze. Boyd notes that through yesterday the stock was down more than 60% since the company posted Q3 financial results, which...
What Bidz.com Forecasts for U.S. and Foreign e-Commerce
Bidz.com felt the economic slowdown this past quarter with a 9% quarterly drop in profits. The online retailer also felt it on their foreign auction sites, with more trouble to come. They are projecting a difficult season for retailers, but lots of good pickings when the quarter is done. From...
- 1
Decision Makers
| Name (plus bio) | Position |
|---|---|
| Leon Kuperman | President, Chief Technology Officer |
| Claudia Liu | Chief Operating Officer |
| Kuperman Leonid | Chief Technology Officer |
| Larry Russell | Chief Technology Officer |
| Lawrence Kong | Chief Financial Officer, Secretary, Treasurer, and Director |
| Anatoli Lau | Vice President of Development |
| Marina Zinberg | Vice President |
| Yuri Mordovskoi | Vice President of Technology |
| David Zinberg | Founder |
| Natalia Sokolova | Director, Marketing |
| Jorge L. Gonzalez | Manager, Customer Service |
| Vilius Zukauskas | Manager, Customer Service |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Peter G. Hanelt | Chairman |
| Peter G. Hanelt | Chairman |
| Garry Itkin | Board of Directors |
| Jit Singh Mgr | Board of Directors |
Leon Kuperman has served as the Company's Chief Technology Officer since January 22, 2007. Mr. Kuperman has over 14 years experience in engineering, product development, product demonstrations, and business development initiatives for a variety of technical products and services. Most recently Mr. Kuperman was Chief Technology Officer at Truition, a Canadian technology company which he co-founded in 1998. Mr. Kuperman began his career at IBM Canada, where he was instrumental in building the technical structure for Net.Commerce, the flagship product of IBM's Internet division. Mr. Kuperman holds a degree in computer science from York University.
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | President, Chief Technology Officer | Current |
| Truition | Chief Technology Officer | Former |
| IBM Canada Ltd. | Former | |
| York University | Degree In Computer Science | Former |
Claudia Liu joined the Company in 2001 and was promoted to the Company's Vice President of Operations. Prior to joining Bidz, Ms. Liu was Director and General Manager of Cybertowers Pte Ltd., a publicly listed company on the Kuala Lumpur Stock Exchange in Malaysia. Ms. Liu has over 15 years of experience in accounting, operations and general management. Ms. Liu received a Bachelor Degree in Social Science from Sheng Cheng University in Taipei in 1985.
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Chief Operating Officer | Current |
| Bidz.Com, Inc. | Vice President of Operations | Former |
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Chief Technology Officer | Current |
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Chief Technology Officer | Current |
| Gruber Systems Inc. | Chief Information Officer | Former |
| Gruber Systems Inc. | Controller | Former |
| Gruber Systems Inc. | Cost Accountant | Former |
Lawrence Kong has served as the Company's Chief Financial Officer since January 2, 2001 and as a member of its Board of Director since July 2003. Mr. Kong has served as Treasurer and Secretary since March 2006. Mr. Kong has over 20 years of experience in accounting, financial management and consultancy, Mr. Kong earned a Bachelor of Science in Accounting (summa cum laude) from the University of South Alabama in June 1982 and a Masters of Business Administration in Finance from the University of Chicago in June 1984. Mr. Kong is a member of the American Institute of CPA.
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Chief Financial Officer, Secretary, Treasurer, and Director | Current |
| Bidz.Com, Inc. | Board of Directors | Current |
| American Institute of Certified Public Accountants | Board of Directors | Current |
| Americaninstitute.Com | Board of Directors | Current |
| American Institute of Certified Public Accountants | Member | Current |
| Bidz.Com, Inc. | Treasurer and Secretary | Former |
| University of Chicago | Masters of Business Administration In Finance | Former |
| University of South Alabama | Bachelor of Science In Accounting | Former |
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Vice President of Development | Current |
| Abs Consulting Group | Senior Software Developer | Former |
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Vice President | Current |
Dr. Mordovskoi has been involved with software technologies for twenty-five years. He was responsible for developing space simulation software programs and is credited for two inventions related to intelligent satellite control technology. He has also created complex technical systems for Publishing House Management and Aircraft Control. His scientific knowledge extends into the disciplines of linguistics and language translation. Before consulting on Bidz.com's auction platform, he served as CTO of Language Force, Inc. After being published in various scientific periodicals, including American Programmer and PC Week, he lectured at numerous international conferences such as those for the American Association of Artificial Intelligence. Mordovskoi began focusing on the e-commerce world about five years ago and now brings his impressive talents to Technolect, Inc. in order to fulfill a market that is expanding rapidly. He received his degree in Mathematics and Software Engineering from the Soviet Military Space Academy and his Ph.D. in Artificial Intelligence from the Scientific Research Institute in Moscow.
| Organization | Position | Status |
|---|---|---|
| Technolect, Inc | Chief Executive Officer, Chief Technical Officer | Current |
| Bidz.Com, Inc. | Vice President of Technology | Current |
| Technolect, Inc | President | Former |
| Technolect, Inc | Founder | Former |
David Zinberg founded Bidz.com and has served as the Company's Chief Executive Officer, President, and Chairman of the Board of Directors since inception in November 1998. Mr. Zinberg also served as the Company's Corporate Secretary from its inception until March 31, 2001. From 1988 to 1997 Mr. Zinberg was the Chief Executive Officer of Asset Lenders of America (Bidz' predecessor), a collateral lending company.
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Founder | Current |
| Bidz.Com, Inc. | Chairman of The Board and Chief Executive Officer | Former |
| Bidz.Com, Inc. | Officer | Former |
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Director, Marketing | Current |
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Manager, Customer Service | Current |
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Manager, Customer Service | Current |
Peter G. Hanelt has served as a director of our company since March 2006. Mr. Hanelt has been a self-employed business consultant since November 2003. Mr. Hanelt served as Chief Restructuring Officer and Chief Operating Officer of the Good Guys, a regional consumer electronics retailer, from December 2001 through July 2003 and through October 2003 as a consultant. From October 1998 to June 2001, Mr. Hanelt served as Chief Executive Officer and a director of Natural Wonders, Inc., a national specialty retailer of nature and science merchandise. Mr. Hanelt also serves as Chairman of the Board and as Chair of the Audit Committee of Silicon Image, a publicly traded manufacturer of semiconductors, and as a member of the board and as Chair of the Audit Committee of Bell Micro Products, a publicly traded wholesale distributor of computer components. He also serves on the boards of Patelco Credit Union, and Catholic Healthcare West, both not for profit companies, and InterHealth Nutraceuticals, Inc., Coast Asset Management, Andronico s Supermarkets, and Trader Vic s Restaurants, all private companies. Mr. Hanelt is a Class I director whose term expires at the 2010 annual meeting of stockholders.
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Chairman | Current |
| Catholic Healthcare West, Inc. | Board of Directors | Current |
| Interhealth Nutraceuticals, Inc. | Director | Current |
| Coast Asset Management LLC | Director | Current |
| The Good Guys, Inc. | Chief Operating Officer | Former |
| Bidz.Com, Inc. | Director | Former |
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Chairman | Current |
| Silicon Image Inc. | Chairman of the Board of Directors | Current |
| Shoe Pavilion, Inc. | Board of Directors | Current |
| Coast Asset Management LLC | Director | Current |
| Bidz.Com, Inc. | Board of Directors | Current |
| Interhealth Nutraceuticals, Inc. | Director | Current |
| Catholic Healthcare West, Inc. | Board of Directors | Current |
| The Good Guys, Inc. | Chief Operating Officer | Former |
| Silicon Image Inc. | Board of Directors | Former |
| Infonet | Board Member | Former |
| Blinds and Co. | Board Member | Former |
| Iwerks Entertainment | Board Member | Former |
| University of California, Berkeley | Master's Degree In Business Administration | Former |
Garry Itkin, after a five month reprieve, has resumed his position as the Company's Director. He began serving the Board in July 2003. Mr. Itkin has served as the Chief Executive Officer of AFB Trading One, Inc., a privately held distillery, since September 1999. Mr. Itkin served as the acting Chief Financial Officer of the Company from February 1999 until 2000. From November 1987 to May 1999, Mr. Itkin served as Managing Partner of Jeff Ratner & Associates, Inc., a public accounting and consulting firm in Beverly Hills, California. Mr. Itkin received his MBA degree from Pepperdine University in 1986. In 2005, Mr. Itkin received his JD degree from the Russian Federation North West Academy of Governmental Service.
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Board of Directors | Current |
| Pepperdine University | MBA Degree | Former |
Man Jit Singh has served as the Company's Director since February 2006. In March 2007, Man Jit was appointed Chairman of the Board for Sony TV India. Man Jit's responsibilities include managing board affairs and working with current SET India management to refine the company's strategic growth plan. Mr. Singh is also a Principal of Diogenes, Inc., a private equity firm, and prior to that served as Chief Financial Officer of Compete, Inc., a predictive analytics firm. Mr. Singh served as Chief Executive Officer of several companies specializing in management recruitment and temporary staffing, including Futurestep Inc. (Founder & CEO), which is Korn Ferry International's online subsidiary for middle management recruitment. Prior to Futurestep, Mr. Singh served on the management committee of BET Plc, a $3 billion service conglomerate focused on outsourcing non-core activities of its customers. Mr. Singh has also held senior positions at various management consulting firms, including Sibson & Co (Partner & Co-leader of Strategy), The Cast Group AG (CEO), and Cresap (Principal responsible for West Coast practice).
| Organization | Position | Status |
|---|---|---|
| Bidz.Com, Inc. | Board of Directors | Current |
Executive News
-
Akamai Accelerates Bidz.com, Leading to Significant Impact on Page Response Times and Site...
-
Akamai Accelerates Bidz.com, Leading to Significant Impact on Page Response Times and Site Performance
-
Akamai Accelerates Bidz.com, Leading to Significant Impact on
Industry Transcripts by Seeking Alpha
-
Conn's Inc. Q3 2009 Earnings Call Transcript
on Nov 25, 2009about CONN
-
Tiffany & Co. F3Q09 (Qtr End 10/31/09) Earnings Call Transcript
on Nov 25, 2009about TIF
-
Coldwater Creek, Inc. Q3 2009 (Qtr End 10/31/09) Earnings Call Transcript
on Nov 24, 2009about CWTR
-
J. Crew Group, Inc. Q3 2009 Earnings Call Transcript
on Nov 24, 2009about JCG
-
Zale Corporation F1Q10 (Qtr End 10/31/09) Earnings Call Transcript
on Nov 24, 2009about ZLC
IndustryTop Rated
- P&G Retail Push Makes Sense, Risks Aside 3 votes
- Walmart Readies Smaller Stores for Smarter Growth 2 votes
- Duckwall-ALCO Rights Itself Amidst Recession 1 votes
- Neil Cole Steps Out From Brother Kenneth's Shadow With Iconix -- Or Does He? 1 votes
- Costco Sees Key Product Categories Turn Positive in September 1 votes



