Billionaire Ted Leonsis: How FedBid is Going to Save Governments and Companies 10-12% on Almost Everything They Buy
November 29, 2012
By: John Koetsier
This insightful VentureBeat interview with renowned entrepreneur and technology innovator; Monumental Sports Founder and Owner, Revolution Growth Partner and FedBid Board Vice Chair, Ted Leonsis, spotlights the story behind Revolution Growth’s investment in FedBid—focusing on where the company’s been, where it’s going and how it’s built a healthy, successful online B2B marketplace through its double bottom-line business model. Throughout, Ted highlights specific federal government and private sector savings and efficiency successes, including Detroit Public Schools’ recent adoption of FedBid as an indirect spend management solution, which has already saved the district nearly $200K and is projected to save as much as $3M from its procurement budget.