It was during a TRAFFIC auction that Sahar came up to me with the idea of a one domain a day, domain auction.
So when I say it the idea of Bido was born during a TRAFFIC auction that’s exactly what happened.
As the TRAFFIC auction was going, Sahar sat next to me, in the auction room and drew out his vision for what became Bido.com
Sahar wrote out his plan on the fly, and then asked me “are you in or are you out”?
I was out.
Not because I didn’t trust Sahar, or believe in his vision, or his abilities.
I’m just not the kind of guy that decides to get into a business in a minute.
Yet although I opted out, I always wanted the best for Sahar on a personal and professional level.
So I took many opportunities to share my opinions on Bido as it progressed.
Bido.com in my opinion failed for one reason and one reason only.
Quality of inventory.
Or in this case, the lack thereof.
Its not news to anyone in the domain industry that Bido had, on a daily basis, pretty poor inventory.
And there lies the problem.
If you have an inventory of 100 domains in a day, none of which seemed to be worth the $28 minimum bid, you have a pretty crappy lineup.
Then the problem snowballs.
The more crap domains you have, the worse your results will be.
The worse the results, the worse the next submissions get.
Quality attracts quality.
Crap brings more crap.
Let me be clear, Bido’s failure brings me no joy.
And I wouldn’t say anything here, that I didn’t tell the Bido folks many times in an attempt to stear them in the right direction.
Bido spent a tremdous amount of time and money building out a fancy back end system with a lot of complicated bells and whistles.
But at the end of the day having a great system only works if you have the goods to sell.