Mac Discount
Online auctions for retailer overstock and returns.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | N/A | Growth Equity VC | |
| Total Funding | 000k | ||
Founded in 2018 by Kellen Campbell and Shawn Allen, Mac Discount (operating as mac.bid) is a retail company specializing in liquidating overstocked goods and customer returns from major retailers. Initially started in Washington, Pennsylvania, the company leverages the co-founders' backgrounds in reverse logistics and online auctions. Campbell previously worked in business development at Genco, a reverse logistics firm later acquired by FedEx, while Allen has a history in online auctions dating back to the late 1990s and also worked at Genco.
Mac Discount operates a dual business model. The primary model is an online auction platform where all items start at a $1 bid with no reserve price, selling to the highest bidder. This model allows consumers to purchase items at up to 80% off retail prices. The company acquires its inventory, which includes a wide range of products from electronics to home essentials, by the truckload from retailers such as Amazon, Target, and Walmart. The second part of its business is its physical retail stores, called Yinz Binz, where items are sold at a declining price throughout the week. For example, new inventory starts at $12 on Saturday and drops daily to 50 cents by the following Friday.
The company's business model is built to serve consumers seeking significant discounts on everyday goods and other merchandise. Revenue is generated through the sale of these goods via online auctions and in their bin stores. The company also offers a 'Buyers Club' membership program that provides perks like early access and free item transfers between locations. Having expanded significantly since its inception, Mac Discount now operates nearly 30 locations across 10 states.
Keywords: online auctions, liquidation, retail returns, overstock merchandise, discount retail, bin stores, reverse logistics, e-commerce marketplace, consumer goods, daily deals, merchandise at cost, bidding platform, warehouse deals, retail liquidation, closeout merchandise, salvage merchandise, online bidding, discount shopping, pallet sales, retail arbitrage