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March 27, 2011 08:34 pm GMT
When I first wrote about Swoopo back in 2008 I found it abhorrent. It was, in short, a form of gambling masquerading as an auction site. You paid for bids - the more bids you bought the better the chance that you'd be able to pay a reduced price for a certain item. The real money came from the suckers who ran up the price. All those previous bids, at $1, were junked in the process.They called it entertainment shopping. Now, however, I call it dead.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/tnl2WS5TBbk/
Goodnight, Swoopo: The Pay-Per-Bid Auction Site Is Dead
When I first wrote about Swoopo back in 2008 I found it abhorrent. It was, in short, a form of gambling masquerading as an auction site. You paid for bids - the more bids you bought the better the chance that you'd be able to pay a reduced price for a certain item. The real money came from the suckers who ran up the price. All those previous bids, at $1, were junked in the process.They called it entertainment shopping. Now, however, I call it dead.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/tnl2WS5TBbk/
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