BIDZ.com Signs Going Private Merger Agreement for $0.78 per Share

As previously announced, on May 17th, 2012, BIDZ.com, Inc.

entered into a definitive merger agreement with Glendon Group, Inc. to be acquired for $0.78 per share in cash. This per share price represents a premium of 59.2% over the Company's closing price of $0.49 per share, on May 16, 2012, the last trading day prior to the execution of the merger agreement, and a premium of 37.7% over the Company's volume-weighted average of the closing prices over the 30 consecutive trading days including and immediately preceding May 16, 2012.