FedBid books Army reverse auction contract, 4th award in 2 months

FedBid has disclosed the firm's fourth contract for reverse auction services within the past two months with the newest reported award from the Army.

Vienna, Va.-based FedBid's recent streak of awards for commodity goods and services auctions has included the departments of Agriculture, Commerce and Labor. Including the Army, all four contracts cover one base year and four option years.

The Army has used FedBid's reverse auction platform for 12 years and awarded $3.2 billion in contracts through the company's marketplace. Seventy-percent of those contracts went to small businesses.

FedBid's marketplace has more than 90,000 sellers that compete to provide goods and services by underbidding each other.