You’ve heard my ramblings over and over how Bido was going to fail unless the quality of the names increased. Unfortunately they just couldn’t figure out how to do it and made the decision to call it quits. I saw the curtains closing with the introduction of the Latona daily auctions. The closing of Bido doesn’t bother me at all as I saw no value in it for me BUT there are no nicer guys in the industry than Sahar and Jarred. They would do anything for anyone. They personally answered every question and problem I ever had. I made a statement and immediately they explained their side in an intelligent, well thought out response.
Even in these final days they are a class act. Last night I put in a withdrawal to pull out a few hundred dollars I had in the account and WITHIN 5 MINUTES the money was in my account. This is how it always worked. I’ve used other auction houses that wanted my domain handed over immediately to hold but didn’t give payment for weeks on end while some people in Manilla or some foreign country tried to figure out how to use paypal. Not Jarred and Sahar. Bido always took care of their customer.
Everyone can learn from Jarred and Sahar when it comes to work ethic and customer service. They also prove that no matter how much you believe in something and how hard you work, if the business model is flawed, you won’t succeed. The technology in Bido was superb but the business model allowed and gravitated towards the “rest” of the domains, the junk, the left over domains that weren’t being sold on Sedo. It became a dumping ground of unwanted domains. Some nice ones fell into the mix but in general, none of the big boys used the platform to move names. They never quite felt that the liquidity was there to get full value. It was justified and thus the end.
I wish Jarred and Sahar the best in their next venture and I know they already have something in mind as they are entrepreneurs. Entrepreneurs always are thinking of the next business. They can’t sit still. It’s not about the money made or lost but the journey.