An online auction for travel-related purchases has been developed by two Australian teenagers.
Zac Darch and Jonathan Shearman are two college students who live in Brisbane. In September, they launched a website which they believe will revolutionise the online travel market. Their site, Flight Penny, works in a similar way to existing auction sites for electronics, but customers bid for flights and accommodation instead.
Users sign up to the site before buying packs of bids which can then be used to participate in auctions. Bids cost $1 a time and each bid raises the price of that auction by one cent. According to Darch, bidders can pick up flights for just a couple of dollars using the site.
Darch and Shearman claim their idea could net them a million dollars within the first year, according to The Australian. They also plan to expand the site to offer related items and services, for example hire cars.