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Here's the The Lowdown from DN Journal,
updated daily
to fill you in on the latest buzz going around the domain name industry. 

The Lowdown is compiled by DN Journal Editor & Publisher Ron Jackson.

Innovative Domain Auction Service Bido.com Abruptly Calls It Quits

I was surprised and saddened to get today's news that innovative domain auction service Bido.com is closing down effective tomorrow (May 5). As some of you know, I was one of the four original founders of Bido (my role was minor and short lived as I left before the site went

live in 2008), along with Sahar Sarid, Darren Cleveland and Jeff Bhavnanie. I have had no special insight into how the company has been faring since 2008 but of course noticed the many changes along the way that produced a site that was dramatically different than the original concept. Those changes were no surprise to me though. From the start Sahar said he planned to let the marketplace be his guide and adapt accordingly. 

Sahar eventually teamed up with Jarred Cohen to implement a number of unique elements for an auction site, including

Bido.com's Sahar Sarid & Jarred Cohen

some very cool social media twists. Unfortunately, despite their best efforts, the revenues needed to keep the venture going never materialized. I hated 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. The good ones take what they learn from the projects that don't succeed and use that experience to make the next one better.  

External forces also had a lot to do with Bido's plight. Since the site 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 against entrenched and well capitalized opposition like Sedo, Moniker, SnapNames and the AfternicDLS

I'm sure you haven't heard the last from Sahar and Jarred though. Setbacks sometimes turn out to be the best thing that ever happened to you as they send you off in a new direction that produces success you never would have known had the previous enterprise continued. I experienced it myself when the Internet put our local brick and mortar record stores out of business in 2000 after a 12-year run. I had to start all over again but it turned out to be a massive blessing in disguise as my search for a new venture led me to the domain industry and a continuing 8-year love affair that has been the best time of my life on almost every level. I wish the same for Sahar and Jarred when they make their next move. 

(Posted May 4, 2010)

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