When I heard Bido (aff) had returned to the scene, I was pretty excited. I never sold a domain on the platform. In fact, I had just listed a domain and received an email a day later that the site was closing up. I’m looking forward to exploring the site and seeing how it evolves and how it is accepted back into the community. I reached out to Bido and Jarred Cohen was kind enough to answer my questions.
Mike: Are you the original owners of Bido? Can you tell me a little about your background and the history of Bido?
Jarred: Bido started in 2008 as a social auction platform for domain names. We auction stuff that people want to buy, and we do that by crowdsourcing the selection process of what goes to auction. Bido uses a voting system that allows the members to vote on the items they want to see go to auction, and they earn a percentage of the sale price when an item they vote for sells. We detail this process on our website, if anyone reading has not had a chance to check it out and try it, I would suggest doing so. The Bido brand did change hands. I personally have been with Bido since our first day of auctions, I started as Vice President of operations, and soon became Chief Operating Officer of the company. I hold the same position with entity that operates Bido now. For that reason, we are under the same management, without some members of our previous team.
Mike: What circumstances caused you to leave the auction scene?
Jarred: The former owners became tired and decided to move on, so the site was inactive for a short time.
Mike: What changes have been made to the way Bido operates?
Jarred: We’re committed to making Bido better, and so some changes have taken effect to improve some aspects of the platform. From a format standpoint, we’re doing some experimentation with the duration of auctions – auctions will now run for several days, and we’ve changed the time of day when the bulk of our auctions start. We’re also running auctions over the weekend, which wasn’t something we had done up until now. From a financial standpoint, we’ve changed our pricing structure across a few products, such as buy it now pricing is now free to add to listings. We’re also optimizing the amount of complimentary voting points we give away each week, in order to fine tune the balance the quality of items that get sent to auction by the voters. From a usability standpoint, we’re making it easier to add listings in singular and in bulk. We’re also improving the domain name ownership verification system to make it even easier to use. If you’ve been following Bido over the years, this may be music to your ears.
Mike: Do you think that your temporary hiatus has caused any ill feelings or lack of trust among domainers?
Jarred: The response has been quite positive and I feel that the community is very happy to have us back. Trust is paramount in this industry and we’ve earned a reputation held in high regard. Bido was and will continue be a great place to buy and sell domain names. When Bido succeeds, everyone in the industry benefits, and I think people realize that and it shows in the feedback we’ve received.
Mike: What can we expect from Bido going forward?
Jarred: Expect to see quality inventory offered for sale, and an attractive ratio of sales. The format of inventory that flows through Bido provides for a vibrant community of satisfied buyers and sellers who continue to turn to Bido for their acquisition and divestment needs.
Mike: What is your perception of some of the newer platforms such as Boxcar and Auctionpus?
Jarred: Each has their differences of varying degree. It’s been said that “a rising tide raises all ships”, so with that in mind, we’re energized when the sector is noticed and attracts competition.
Mike: Any other information you’d like to share?
Jarred: Thank you for your support of Bido and for the opportunity to discuss these topics. Please follow us for updates, on our blog, on Twitter, and on Facebook. We also gladly accept and encourage feedback on our feedback portal. I may be reached at email@example.com and I would welcome the opportunity to give anyone a tour of the Bido.com website, so please be in touch.