According to a message on Bido.com today, it appears the site is closing shop tomorrow.
This comes as a little bit of surprise but not totally.
I am sorry to hear of this news but it seems the site has had a hard time of making things work after going away from the niche they started with, the $1 no reserve auctions with one domain in the spotlight each day. Since the change, quality inventory lacked ever since, yet the amount of domain names at auction daily increased. This made it hard for buyer’s to visit and use the service because the vast majority of inventory listed was not good and it took a good amount of time to weed through what most would consider junk.
The statement on the site was short and to the point stating: "Bido is ceasing operation as of May 5, 2010. All transactions and accounts will be gracefully finalized and closed."
I still think somebody could purchase the technology and domain and put the service back to a 1-10 domain name a day auction with no reserve and make a profit with it. Remove all the confusing terms and put it back to a simple service the way it was when it first launched. It is unknown if the technology and domain will go for sale.
Cole
Who is that handsome devil in that screenshot? Hahaha
This really blows for me. I have had a ton of success selling both crappy and quality domains at Bido. Their site represents about 80% of my 2010 profit thus far and while I haven’t had much recent success, I am surprised to see this happen.
Yes, the quality wasn’t always top-notch, but there were always great deals and the occasional great domain. I always questioned the sustainability of the system, but had faith that quality would increase – sadly it did not, I guess.
I must say that the Bido staff (everyone I encountered) was 100% professional, friendly and quick to respond to any of my queries. I wish them all the best of luck.
Jamie Zoch
From my understanding… the video was what did them in
JK
~
I agree, Sahar and Jarred are top notch guys and are always professional and listen to there customers but sadly it is hard to make a go of it in the domain industry. I personally think that the auction space is crowded and going away from the 1 domain a day model hurt them badly. As I stated, 1-10 good domains a day I still think can turn a profit for the service and make them stand out but it will not make the owner rich but should still be profitable.
Victor
I agree with Jamie. I was suggesting one domain auction per hour(9:00am-9:00pm). And, stay with the concept of better auctioning better domains. It would of been profit for both Bido and sellers on Bido. Good luck in the future!
Steve
Too bad. Great system, easy, fast, smooth transactions. Hopefully this is just a transition to a better format or other partnership(s). Best of luck to everyone at Bido.
wannadevelop.com
Sad sad…. But not really surprising.
Jarred Cohen
Thanks all, we appreciate the comments.
@Jamie – the Bido.com brand, technology, and lists are in fact all for sale as one package. This is a good opportunity and highly time sensitive. Bido will be sold in the upcoming days.
Anyone interested in more info may contact me at jarred@bido.com
In any event, thanks again for your support along the way. We always appreciated reading all your blog posts about Bido.
Regards,
Jarred
Farhad Ramezan
I am not surprised at all. From one domain A DAY to auctioning like crazy, it was obvious from start that these people had NO SOLID BIZ plan to start a Business.
sorry to see you go but your deserved it.
Farhad Ramezan
“so we have reset your complimentary voting points to 2220″
Just look at the business concept before judging my email. A kid can look at the potential for making money with this system and say “ARE you CRAZY?”
“so we have reset your complimentary voting points to 2220″
I do no care what anyone says, if there were smart they would show it by at least to exit with dignity. Which business gives 24hr notice to close?
smart business man plan for exit as well. there were no explanation but “Good bye” and we are trying to sell our business domain name and technology for SIX figures. That is almost as stupid as the business.
Tom
Sorry to see them close as I also sold some names on there for a good profit and was hoping to list more names there..
Well hope they find a new buyer that will bring back the service bido offered..