A team led by eBay Blackthorne founder John Slocum has begun development of a new auction management tool called Shebayng!, following eBay's lay-off of the Blackthorne team in November 2008.

Slocum's new company, called SixBit Software, aims to provide a low cost, high featured auction management tool - drawing on their 12 years of experience in the auction automation market.

They plan to develop major feature sets in three cycles lasting 6 to 9 months each. The first cycle will include listing features, the second will cover sales management, and the third cycle will add "professional features."

Further information at SixBit Software.