Bidshot to pursue foreign expansion.

(From BusinessWorld (Philippines))

Byline: Maricel E. Estavillo with Veronica S. Cusi

Homegrown online auctions firm Bidshot Wireless Services, Inc. is setting its expansion efforts on foreign markets where Internet penetration is low but mobile handset penetration is high.

This, as Bidshot - the sister company of mobile messaging solutions provider Chikka Asia, Inc. - continues to operate under a unique business model it pioneered five years ago.

Unlike online auction giant eBay, most of the selling and buying in Bidshot happens via short messaging service (SMS). Bidshot subscribers are only required to register in its online site once. …