Competing with eBay – a winning formula

CATEGORY: News

Thousands of IT security consultants online find flaws with software and to date have little recompense for their expertise. That’s all going to change with a new auction site – WabiSabiLabi Ltd. They have created an online marketplace where researchers, security vendors and software companies can interact in an open market to enable researchers to obtain the correct value for their findings.

Up until now anyone that found a security vulnerability had little choice but to inform the software vendor for little or no compensation, or give in to the temptation to sell the information to hackers. Now they’ll be able to offer their findings to the highest bidder. All researchers and bidders will have to verify their identity to WabiSabiLabi prior to buying or selling on the site to ensure that they’re legitimate, on the site they’ll only be known by their user name.

The project driven by researchers who felt they weren’t obtaining the best prices for their work, and will gain a following from similar researchers along with companies who need to buy the information. It’s often been said that there will never be another eBay but successful alternative auctions sites will be niche marketplaces, this is a perfect example of one that could be a huge sucess.

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