“Bido is ceasing operation as of May 5, 2010. All transactions and accounts will be gracefully finalized and closed.”
It is one of those sad days in the world of domaining – Bido.com is officially closing on May 5th. As any of my frequent readers are aware, I was one of Bido’s cheerleaders. Always posting about my success and the professionalism the Bido staff exhibited. While it is still too early to speculate what exactly has happened to result in such a quick closure, DomainIncite.com reported that they received an email from Bido COO, Jarred Cohen, an email stating that “The reason is nothing beyond obvious, the volume wasn’t sufficient to warrant operation.”
As with many frequenters of Bido, I occasionally did some quick math and continued to wonder how Bido could operate on minimal revenue. My hope was always that the quality of domains at Bido would increase and help them turn a healthy profit, but it turns out my hoping was for not.
As new developments occur, I will post updates to this story. All the best to the Bido staff – you were always wonderful and professional.
It’s a sad day indeed, I was about to present a possible partnership with them to increase quality and their profits.
The domain and site are not for sale, at least that’s what Jarred told me when I asked. Let’s see what they make out of this great brand.
Exactly, Dan. Just like any folded venture, there are still quality assets under their ownership.
It’s pretty cool that I have met so many people through the Bido platform. Without the chat feature that was removed a few months ago I surely wouldn’t have met as many great domainers from around the world. Bido really gave me the confidence to make a go in this industry.
Thanks Guys, we appreciate it. Be well.
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.