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Just saw a tweet on Twitter that BIDO is closing on May 5th. Sorry to hear. Best of luck to Sahar et al.
Hi Shane, yes, it's said and done. Bido is over for good, as you put it.
It's a sad day for us. Thanks for the kind words.
I think the whole voting system didn't make any sense.
They started off with a cool idea, one name a day.
They wanted to expand.. fine, they should have kept it at 3 or 5 good names/day IMO.
I spoke of this long ago. BIDO got the wrong idea with the multiple-domain thing.
i lost interest from about day 2 when i was expected to get up at 3.45 am everyday for a one hour bidding window, i was just about to go back and have a closer look again , i think the way swapped and changed from the very beginning was their downfall, i had already turned off by the time the voting aspect came into it , it seems there may be an opportunity for someone else to take over the mantel ??? with this style of auction , although i think it was a small buying group ????
Can someone from Bido kindly tell us why Bido is closing its doors?
I believe that we're all confused with this one, being that it's so immediate as well. Did something go wrong? Has the company gone bankrupt somehow? Please fill us in!
Your site was really unique & innovative. I hope that there is no legal problem behind the reason of the site closing down. Furthermore I hope that you guys recreate it as an auction site or something, for items/products, or domain names. The 1 hour time was hard and I never won any domains but I wish you guys the best of luck and I hope you guys offer some explanation. I feel so sad I'm sick to my stomach because something went wrong for you guys to close down so suddenly and so quickly. =(
Unless they could get 5 figures sales every day there is no way they could survive with just one listing a day.
I never understood the one hour bidding window. Talk about cutting off your nose to spite your face. If somebody takes this over I would think that they would expand the bidding window several fold.
I think Bido should have went towards different directions, two of which I would think to see better success/profit in:I was referring to 5 "premium" domains or domains in caliber with what they had back in their 1-a-day mode. I wasn't referring to 5 random domains. Hell, they ran on 20-50 randoms a day and couldn't hold up.
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It was a part of their old branding: One domain, 1 hour, etc. "The Power of One," they called it.
2.) A domain auction site similar to woot.com - which I think would be more awesome/better - where the company only focuses on premium domains to hold daily auctions for one to a few premium domains only.
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly; who errs and comes short again and again; because there is not effort without error and shortcomings; but who does actually strive to do the deed; who knows the great enthusiasm, the great devotion, who spends himself in a worthy cause, who at the best knows in the end the triumph of high achievement and who at the worst, if he fails, at least he fails while daring greatly. So that his place shall never be with those cold and timid souls who know neither victory nor defeat.” - TR
The problem is nobody is gonna sacrifice their good domains until good sales happen there and if nobody sacrifices good domains to get it going then it will always be junk that domainers are willing to accept low prices on. The best solution would be for someone with a large portfolio fabulous, namemedia etc... to buy it and sacrifice 10-25 good domains per day to get it going and some good sales under their belt to jumpstart it along with some end user advertising. Personally I would kill off vote for profits and just make it a regular auction house with 10-25 quality domains per day coupled with an aggressive end user marketing campaign. Someone with a large portfolio could run a few hundred quality domains through it for a month to get it going and then open it up to domainer submissions but prune them for the best 10-25 per day to keep the quality level up.
Good point but let's be honest: Who would put a premium domain on auction? Unless the owner was too lazy to contact potential endusers, I doubt he'd just throw a name on auction.