Invention Grant
- Patent Title: System and method of matching reverse auction buyer bids to seller offers
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Application No.: US17409044Application Date: 2021-08-23
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Publication No.: US11776034B2Publication Date: 2023-10-03
- Inventor: Boris Aleksandrovich Zhukov , Gang Shao
- Applicant: LetYouKnow, Inc.
- Applicant Address: US WA Seattle
- Assignee: LetYouKnow, Inc.
- Current Assignee: LetYouKnow, Inc.
- Current Assignee Address: US WA Seattle
- Agency: BakerHostetler
- Main IPC: G06Q30/06
- IPC: G06Q30/06 ; G06Q30/0601 ; G06Q30/08 ; G06Q20/02 ; G06Q20/08

Abstract:
The present invention is directed towards systems and methods for matching buyers to dealers of the same type of vehicle. Buyer bids are ranked based on receipt time. Buyers specify a search radius corresponding to dealers. Dealer offers correspond to an acceptable amount for the vehicle. A high price is computed for each vehicle from dealers relative to buyers based on dealer offers and MSRP. A final price is computed for each vehicle based on dealer offers, the search radius, and the high price. Final prices are ranked based on the distance from buyer to dealer and the buyer bid dealer offer difference. The match is based on the highest rank final price for the corresponding dealer to an earliest received buyer bid that has not been matched if the vehicle offered by the corresponding dealer is available.
Public/Granted literature
- US20210383448A1 SYSTEM AND METHOD OF MATCHING REVERSE AUCTION BUYER BIDS TO SELLER OFFERS Public/Granted day:2021-12-09
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