In 2015, Singlepoint, Inc. (OTC: SING), a publicly traded holding company specializing in the acquisition of small to mid-sized companies with an emphasis on mobile technologies, acquired the assets and technology of Mobile Bidding Technologies, Inc. (MBT). This included its primary asset, Text2Bid, the leading mobile bidding solution. But how is Text2Bid leading the mobile bidding solutions industry, and how does this affect SING?
By offering a simple web page, also referred to as a “web app”, Text2Bid uses one single user interface that automatically adapts to every user’s smartphone. Users can bid without having to install an app to their mobile device. This also cuts out the need for manual updates. But, aside from not needing to download, why is a “web app” better than a native app for Text2Bid’s solution?
Text2Bid’s primary goals are related to public communications. Having a mobile website or “web app” is advantageous since it allows for broader accessibility, compatibility, and cost effectiveness. In a high-paced environment such as the events industry, these are all key factors. With mobile websites, everything is instantly available, compatible across a number of devices, automatically updated in real-time, easy to find and easily shared through publishers. They offer a broader reach and can’t be deleted. In addition, mobile websites are generally easier to develop and less expensive to run.
The future of auctions is one of more people with smartphones. With advances in technology, it’s a movement that will continue to grow and adapt to new devices. Aside from its compatibility and accessibility, Text2Bid does not have a user limit and supports multi-day events. Text2Bid has turned normal auctions into interactive experiences, with a yearly average increase of 28 percent in total amount donated, as compared to previous years without the solution.
SING acquired MBT and Text2Bid because it offers significant potential for yearly growth. The company believes that the combination of its technology and development expertise with Text2Bid’s already well-established name in the sector could lead the solution to further growth while revolutionizing the $18 billion auction industry.
For more information, visit the company’s website at www.Singlepoint.com
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