New ownership, but a similar formula for Bido.
Social domain auction site Bido is back and under new ownership. There’s a familiar face at the helm, with Jarred Cohen returning as Chief Operating Officer. He’s a busy guy right now, but I was able to steal a few minutes of his time via email for an update:
DNW: Who bought Bido?
Cohen: The Bido software, website, and some other related assets were purchased by Bido.com LLC, a Switzerland company.
DNW: What is your involvement with Bido going forward?
Cohen: I continue just like in my former role as COO. I’ve taken a position as COO of the new company and I’ll be visible and accessible to our members on the front end as well as busy behind the scenes overseeing the development and business teams. I may be reached at jarred (at) bido.com.
DNW: What has happened to the platform (what’s been going on behind the scenes) since Bido shut down?
Cohen: It’s as you could imagine, a sale of such magnitude takes some time from start to finish. There are many steps along the way; there was a lot of paperwork, asset transfers, as well as setting up the Bido software and moving into a new server environment. In order to do all those things, we had to take a step back, keep our heads down, stay busy, and focus on the goal. Moving forward, we are glad to be back and once again open Bido up for the buyers and sellers in the domain community to utilize.
DNW: How will Bido be the same/different? Given what’s happened in the past, what will be different this time around in order to make it a profitable/sustainable venture?
Cohen: We’ll put focus on the most needed things and, with the support of the community, move to new heights. The core aspects of Bido remain for the most part the same. We will be optimizing things, simplifying some things, and making some changes with the formats, such as auction durations, and overall making it easier for people to buy and sell. What has happened in the past is behind us and we’re just looking ahead at the opportunity that awaits to get back into business and help a lot of people buy and sell. One of the changes you’ll notice right away is that we’re doing some experimentation and instead of running 1 hour auctions as we did in the past, the auctions will run for a longer duration of time. At first, you’ll see auctions that last 4 days and we’ll evaluate the feedback and results after some time. We’re also going to be starting and ending the auctions between the hours of 3pm to 4pm Eastern at first, and observing from there. The voting system (Vote For Profits) and the other core innovations that had always set us apart remain nearly the same. I would advise anyone reading to visit our site and take us up on a tour of the system to learn how it works.
Thank you Andrew for the opportunity for our voice to be heard on DomainNameWire, and we’re glad to be back.