Bonanza

Bonanza.com operates as a seller-centric online marketplace, positioning itself as an alternative to larger platforms like eBay and Amazon by focusing on entrepreneurs and small-to-mid-sized businesses. Founded in 2008 by Bill Harding, who was later joined by co-founder Mark Dorsey, the company was initially named Bonanzle. Harding, a programmer since his early teens, developed the platform as a side project, driven by a passion for measurement and productivity. The venture was established in response to eBay's strategic shift away from third-party sellers, aiming to create a friendlier and more intuitive platform.

The company achieved profitability by 2009 and, in 2010, secured angel funding, rebranding from Bonanzle to Bonanza and acquiring the handmade marketplace 1000 Markets. A significant development came in 2014 with the launch of Bonanza Webstores, a hosting platform integrated with the marketplace. In March 2023, Harding sold Bonanza to Quincy Faison, who assumed the role of CEO under the new entity, Bonanza Worldwide, LLC. Faison brought over two decades of experience, including time at IBM and building his own cloud-based ERP system for e-commerce companies. Harding transitioned his focus to other software ventures.

Bonanza's business model is structured to align its success with that of its sellers, asserting that it only makes money when sellers do. It generates revenue primarily through final value fees (FVF) on sales made in a seller's "booth," which is their storefront on the marketplace. The base commission rate starts at a low percentage, and there are no listing fees for sellers. A small transaction fee is applied to sales for non-members, and new sellers are charged a one-time account setup fee. The platform's core offering is the marketplace itself, where sellers can list items across numerous categories. For enhanced visibility, sellers can opt into a tiered advertising program, paying higher commission rates to have Bonanza promote their products on channels like Google Shopping and through an affiliate network of bloggers and review sites. The company covers these advertising costs upfront. Additionally, Bonanza offers a Webstore service, allowing sellers to create a branded, standalone website with inventory synced from their marketplace booth for a flat monthly or annual subscription fee, with no commission on sales from the webstore itself. Keywords: online marketplace, e-commerce platform, eBay alternative, sell online, seller-centric, entrepreneur tools, multi-channel selling, inventory synchronization, final value fees, e-commerce advertising, webstore builder, small business e-commerce, Bill Harding, Quincy Faison, Bonanzle, independent sellers, online booth, Google Shopping integration, affiliate marketing, customer marketing tool