Hilco Streambank’s Role
Insolvency Service Group, serving as assignee for the benefit of the creditors of Bidz.com, hired Hilco Streambank as the exclusive agent to market and sell the intellectual property assets of Bidz.com, including the domain name, trademark, customer data and other related intellectual property assets.
Bidz.com was a pioneer in the online jewelry retail space, selling products direct to consumers using a competitive pricing model since the late 1990’s. Prior to its decline, the company was operating at $100M in annualized revenue and attracting over half a million visitors to the website each month.
Hilco Streambank Closed the Deal
Hilco Streambank helped the assignee identify and negotiate a stalking horse bid and qualify five additional bidders for an auction. Following several rounds of bidding, we assisted the assignee in closing a deal for substantially all of the intellectual property assets in late 2014.