Domain Auction Site Bido Closing Down
Posted on 05. May, 2010 by admin in Auction News
Auction site Bido, focused on domains, is now closing the door. despite their best efforts, the revenues needed to keep the venture going never materialized. It’s sad to see their hard work and investment go down the drain but it happens to just about every entrepreneur at one time or another along the way.
Too many domain name auctions?
Since Bido debuted, the number of competing auction services exploded at the same time buyers became more conservative in of the worst recessions of the past century. That is a tough environment to get a start up off the ground, especially with strongly focused competitors with way more profitable business model. For instance, SnapNames has their domain drops service. So either become nr 1 in the field or make sure to have a few nice money making sectors of your business while building up a new field.
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