A small Oakville company is hoping to be part of a massive shift in economic activity known as “the shared economy”. It is also sometimes called “the bid economy” and it is quickly cutting the middle man out of commercial transactions by linking buyers and sellers directly. With just a few small steps, a band of Oakville entrepreneurs is hoping to make giant strides in the real estate industry.
Sharn Kandola is one of the partners behind feeDuck, a new real-estate service designed to help home-sellers save money. It is unique because it is a reverse auction. Feeduck is joining a new trend in the economy just like companies such as Airbnb or Uber.
Mandeep Malik of the Degroote School of Business says business models like feeDuck are the future of commerce. “It is estimated in 2014 it was worth $15 to $20 billion. It projected to be well over $300 billion in ten years, so it is not going away.”