Definition - What does Bonanza mean?
Bonanza is an online marketplace that permits its users to sell everything from antiques to electronics. Bonanza is similar to eBay, but its focus is on unique items. The company claims to have similar items to those that may be found at a street fair, although virtually any merchandise is available on the site.
Bonanza is also a virtual Web 2.0 community where sellers can engage in online, real-time chat. Prior to September 2010, Bonanza was known as Bonanzle.
Techopedia explains Bonanza
Sellers on the Bonanza.com website can save up to 50 percent on items they wish to purchase based on their own sales. The site also offers "freebies", in which sellers agree to give away certain items with purchases over a certain amount.
In September 2010, the company acquired 1000 Markets, which specializes in artisan merchandise. Bonanza (then called Bonanzle) was founded in 2008 by Bill Harding out of Seattle.
The website is user friendly and broadens its inventory by importing items from other online storefronts like eBay. It also contains an online imaging tool for uploading and editing merchandise photos. Sellers can display their items in a booth, which is similar to having their own online store.
Bonanza.com is typically described as an eBay alternative and as of late 2010, it had registered 300,000 users and 3.4 million sale items.