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Vendio reports year 2 of profits and rolls out new products
Vendio Services Inc. announced that net income increased over $500,000 from the previous year, a record number of subscribers, with monthly subscriptions growing 66% year over year, gross margins of 80% and elimination of all debt.
Vendio Services Inc., a provider of online sales management technology, has reported its second consecutive year of profitability. Without providing more details, the company announced that GAAP net income increased over $500,000 from the previous year. “Our focus now is growing the top line,” says Kevin Wray, vice president of marketing of the San Bruno, CA-based company formerly known as AuctionWatch. “Like most Internet companies that went through tough times, we have been fanatically focused on cost control. Now we are starting to hire again.” He says the company plans to double its development team based in Romania and has added customer support and product development personnel in California.
Vendio also announced a record number of subscribers, with monthly subscriptions growing 66% year over year, gross margins of 80% and elimination of all debt.
Vendio, which primarily serves sellers at eBay.com, also announced new technology initiatives, including ZoomStream to provide fast visual detail to buyers without lengthy downloads, watermarking, which allows sellers to add logos to an image for better brand identification and image protection, and custom templates.
In addition, Vendio is rolling out a new series of product presentation templates for eBay sellers. Known as “galleries” to eBay sellers, the templates allow sellers to present their other products to bidders at an auction. Buyers who search for a product at eBay get only auctions in their results, so sellers use their auctions to attract potential buyers to their other products. Many look for alluring presentations. Vendio has developed several presentation motifs, including a marquee-style presentation that scrolls products across the screen, a slot machine that spins and displays products when a shopper clicks on the lever and a memory game that challenges shoppers to virtually turn over cards to match products. “We’re trying to inject a little bit of fun back into eBay,” Wray says.
Sellers pay $2.95 a month to use the galleries for up to 100 products, then 5 cents a listing above that. $6.95 gets a seller 200 listings, then 3 cents per item above that.
Vendio also is branching into web site hosting for sellers who want to expand beyond their eBay stores, Wray says.