eCitydeals.com hopes to make waves in B2G
- By Dan Caterinicchia, Dan Caterinicchia
- Jun 30, 2000
As the business-to-government market grows exponentially, one new company
is hoping to separate itself from the competition by providing the private
sector with access to hundreds of cities, while offering auctioning and
procurement capabilities to its local government customers.
eCitydeals facilitates transactions between city governments and private
entities. The Los Angeles-based company generates revenue through transaction
fees, advertising and sponsorships, economic development services and consulting
fees, said chief executive officer Larry Kosmont.
"We're the online business portal for cities and the private sector to get
together and do transactions easily by getting rid of all the bureaucracy
and paperwork," Kosmont said. "We're the only one that's really focusing
on B2G for local government and not on state and federal."
ECitydeals enables cities to conduct online auctions, purchase goods and
services, post competitive public works bids, trade taxes with other cities
and advertise job opportunities.
Kosmont said more than 600 cities have expressed interest since the company's
launch in April, and it has already conducted commodities auctions for cities
in California and Maryland, as well as Newport News, Va.
Newport News auctioned nine items online, including four school buses, two
motorcycles, two side loaders and a van for a total of more than $31,000,
"eCitydeals is a full service portal for economic development, procurement
and auctions, and allows cities to use the Internet for a variety of transactions,"
he said. "And economic development is the mother's milk of local revenues."
The company has already conducted online auctions, but its procurement features
are in beta testing and will be rolled out during the next few months, Kosmont
said. Future plans include property sales in July and other added transactional
services as cities request them.