Moloyo has been launched this month and their core team members include Rob, Anand, Matt and Jen. Last name of all the four is not available. At Moloyo, you can win items like at other penny auction sites as well as you can sell products.
Working of this site is similar to quite simple. Each bid costs $0.75 and when you bid on an item then it’s cost increases by $0.10 and a few seconds are added to the timer clock. If you are the last bidder and timer runs out then you win the item.
Bids are non-refundable at Moloyo and also they expire after 1 year of purchase.
Also, if you waant to sell on Moloyo you must have verified PayPal account and you must be 18+ years old.