22 February 2012
24Hbids closed, then opened plus a Bid-Bob bailout by a Big Blue Bull??
Monitoring the flurry of emails today we come across some very interesting developments in the penny auction industry. An initial email sent out by penny auction site 24Hbids.com indicated that they had lost financing and were closing their doors. Before we could put pen to paper a new press release came around indicating that they are not closing! Hopefully 24Hbids gets the ship righted!
On a more positive note, we have just received word that Bid-Bob.com and Score Marketing Promotions (RagingBid.com) have agreed on a partnership, or bailout for bidders! The Big Blue Bull has stepped up and is willing to alleviate some of the burden that was left for Bid-Bob users that were left with outstanding bid balances at the recently closed site.
Scott Matthews tells us that this may be just one step in what he sees as a need for sites to help each other to create a more stable and trustworthy penny auction landscape. Kudos to Scott and the Ragingbid team for their efforts in helping Bid-Bob.com!