Reverse-auction company FedBid will split into two companies \u2013 one focusing on federal agencies and the other on the private sector \u2013 the company said Jan. 20.<\/p>\n\n\n\n
Joe Jordan, former administrator of the Office of Federal Procurement Policy, has also taken over as the CEO of FedBid, which will remain focused on growing its agency business.<\/p>\n\n\n\n
Reverse auctions have companies bid against each other for the chance to sell their products or services \u2014 which proponents say lowers prices.<\/p>\n\n\n\n
“Through our reverse auction marketplace, we have increased dynamic competition in government purchasing, and have empowered small businesses, including thousands of veteran-, women- and minority-owned firms, to successfully compete for government contracts,” Jordan said. “At the same time, we have helped government agencies purchase quality goods and services more efficiently, while also saving the taxpayers hundreds of millions of dollars.<\/p>\n\n\n\n
The private sector company will be named EPS Commerce, Inc., and it will offer its own array of products to the private sector. Its employees are currently moving to new, separate offices, according to the company.<\/p>\n\n\n\n
FedBid had come under fire for a Sept. 26 Veterans Affairs Department inspector general report detailing how a federal manager tried to steer a contract toward FedBid, which had in turn pressured Congress to remove a senior VA official who resisted the contract award.<\/p>\n\n\n\n
Jordan joined FedBid in January 2014 after spending close to two years as the administration’s head of procurement policy. Before that he served for two years as the associate administrator for government contracting and business development at the Small Business Administration.<\/p>\n","protected":false},"excerpt":{"rendered":"
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