Overview, company details, product information, news, events, rankings and Rep listings for Bidify.
Bidify was a short-lived penny-auction MLM and is no longer active.
Original Npros business profile for Bidify, preserved below for archival purposes:
Bidify was launched in 2012 by Icelandic network marketer Larus Palmi Magnusson, with Frode Jorgensen serving as chief creative officer. The company operated as the affiliate-marketing division of Bidsson Ltd., an online penny-auction business. Customers purchased bids and used them to compete for electronics, watches, cruises and other consumer products; each paid bid increased the auction price and extended the countdown timer. Bidify affiliates also purchased "sample bids" that they distributed to prospective Bidsson customers. The company operated through entities associated with Seychelles, Delaware and Ireland rather than from a single clearly established headquarters.
Bidify used a network-marketing compensation plan built around bid purchases, subscription packages and affiliate recruitment. At its 2012 launch, affiliate packages were priced at â'¬150, â'¬250 and â'¬1,000. Participants could earn from retail bid purchases by personally referred customers, sample bids purchased by personally sponsored and downline affiliates, subscription sales and monthly renewals.
Enrollment Options
There is an initial startup cost to join Bidify of 100 Euros ($126.70 USD) and a 20 Euro ($25.30) monthly administration fee thereafter. Bidify affiliates receive a replicated website and can refer an unlimited number of retail customers. Affiliates cannot refer customers and recruit new affiliates or participate in the compensation plan until they have completed Bidify's Compliance Certification Course.
Compensation Plan
Bidify has a unilevel compensation plan. Bidify Affiliates must have a monthly Personal Volume of 50 in order to receive commissions and bonuses. Affiliates earn one-time product sales bonuses on every product package sold in Bidify, a 25% retail bonus when one of their personally referred customers purchases retail bids, and a 5% bonus when a personally referred Affiliate purchases sample bids. Bidify Affiliates can also qualify for leadership bonuses and incentive trips.
20% of all cash rewards earned by Bidify Affiliates are paid as 'mandatory funds' to their 'Mandatory Account' and cannot be withdrawn as cash. Mandatory funds may only be spent at the Bidsson site.
Larus Palmi Magnusson, Chairman & CEO
Frode Jorgensen, Chief Creative Officer
August 20, 2012 -- In the wake of the SEC shutdown of Zeek Rewards, Bidify has halted activity on its website and posted a corporate message. In order to avoid being subjected to the same scrutiny as Zeek Rewards, Bidify has developed a revised business plan that eliminates leadership bonuses and the ability to give away sample bids from Bidsson. The entire corporate statement can be viewed at ...
When we review a company, look for the Npros Business Certification. We add our certification only to companies we review that meet stringent criteria for reliability, experienced management, quality products, and what we believe to be a credible business model with a high probability of success for the company and company reps, distributors or associates.
Contact us for more information on having a home business certified by Npros.com.