FedBid, Inc. is a privately held company based in Vienna, Virginia, that operates a U.S. Government sanctioned fully managed online marketplace. It’s designed to optimize how federal, state, and local governments, as well as educational institutions, purchase a wide variety of simple goods and services through a reverse auction-based platform. These may include IT products, communications equipment, aeronautical products, marine equipment, and laboratory equipment. Phoenics participates in FedBid auctions for its clients and has had substantial success.