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 Kuperman
Number of Employees 164
Contact Information

3562 Eastham Dr

Culver City, California 90232

bidz.com

(310) 280-7373

NAICS Code Electronic Auctions: 454112

Recent Events

  • The tough economy crimped Bidz.com's performance in the third quarter

    11/19/09 - Financial Announcement - View Story

  • Roth Capital Downgrades Bidz.com BIDZ to Hold

    11/10/09 - Bond / Stock Rating - View Story

  • Roth Capital Partners LLC downgrades Bidz.com Inc. to 'hold'

    11/10/09 - Bond / Stock Rating - View Story

  • Bidz.com Announces Financial Results for the Third Quarter 2009

    11/09/09 - Financial Announcement - View Story

  • Bidz.com acquires the assets of Whitehall Jewelers

    9/23/09 - Merger / Acquisition - View Story

  • Bidz Acquires Whitehall Trademarks

    9/19/09 - Merger / Acquisition - View Story

  • ThinkEquity LLC reiterates Bidz.com Inc. at 'buy'

    9/01/09 - Bond / Stock Rating - View Story

  • Akamai Accelerates Bidz.com, Leading to Significant Impact on Page Response Times and Site...

    8/10/09 - Licensing / Contract - View Story

  • Morning Movers 8/11: AVNR, RWC, HLCS, ANPI, ANDS, AGM Higher; JAV, BIDZ, PETD, AHR, CIT,...

    8/11/09 - Financial Announcement - View Story

  • Bidz.com Signs Multi-Year Deal With Aramex to Offer Cost Effective Shipping Services to Its Middle...

    7/23/09 - Joint Venture / Alliance - View Story

  • If Insiders Are Unloading, Why Is BIDZ.Com Buying Back Shares?

    7/07/09 - Financial Announcement - View Story

News & Analysis

bidz.com inc. and retail - All News and Analysis

  • SEC Investigation of Bidz.com Heats Up

    Seeking Alpha - 2009-11-11

    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

    Tags: Retail, Sam E. Antar, Bidz.com Inc.

  • If Insiders Are Unloading, Why Is BIDZ.Com Buying Back Shares?

    Seeking Alpha - 2009-07-07

    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....

    Tags: Retail, Sam E. Antar, Bidz.com Inc.

  • Now, Questions About BIDZ.Com's Auditors

    Seeking Alpha - 2009-06-25

    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....

    Tags: US Market, Retail, Internet, Sam E. Antar, Bidz.com Inc.

  • Bidz.com Q1: Earnings Top Guidance, Revenues In Line

    Seeking Alpha - 2009-05-05

    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...

    Tags: Retail, Eric Savitz, Bidz.com Inc.

  • BIDZ: Amtech Suggests Creating Short Squeeze

    Seeking Alpha - 2008-11-20

    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...

    Tags: Retail, Eric Savitz, Bidz.com Inc.

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...

    Forbes.com - 8/10/09 - View Story

  • Akamai Accelerates Bidz.com, Leading to Significant Impact on Page Response Times and Site Performance

    NewsBlaze - 8/10/09 - View Story

  • Akamai Accelerates Bidz.com, Leading to Significant Impact on

    Business Wire via MSN Money - 8/10/09 - View Story

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