1000Markets just bought out by Bonanza!
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Original Post
Just got the email!
"Important Service Announcement:
1000 Markets is being acquired by Bonanza.
On Monday, September 20, 2010, 1000 Markets was acquired by Bonanza. This combination of forces will help propel artistic and handmade goods into the mainstream of e-commerce, bringing you more traffic and sales.
But it's more than just traffic and sales: Bonanza and 1000 Markets share a common vision of helping small and independent merchants reach a global audience of buyers. Bonanza brings a lot to the table: they are a unique online marketplace with more than 2 million visitors per month and 3.5 million products listed for sale.
Transitioning your shop to Bonanza will be fast and push-button simple. And, best of all: Like 1000 Markets, there is no cost to having a Bonanza store and you only pay a small fee when you make a sale.
Here is what you need to know:
The transition to Bonanza will begin in a few days. Be on the lookout for an email with detailed instructions.
You will have until the end of September to transition your shop, but we'll make it simple and automated.
The sooner you transition your 1000 Markets shop, the sooner your products will be available to the large audience of Bonanza buyers.
Once you have transitioned, anybody who visits your old shop on 1000 Markets will be instantly redirected to your new shop on Bonanza.
Search engines will also be notified of your new shop. Search engine rankings you’ve built up at 1000 Markets should transfer smoothly to your Bonanza shop.
You might also want to read our Frequently Asked Questions
We want to welcome you into the Bonanza family. We're excited to help our merchants grow their business and tap into a new base of customers. Thank you for all of your enthusiasm and support for 1000 Markets. We look forward to stepping into the future with our new partner, bringing the most extraordinary artisan and handmade goods to a large audience of discerning buyers.
Sincerely,
The Team:
Matt, John, Frank, Rachel, Alyson, Kristen, Kristin, Andrew"
Posted at 11:00am Sep 21, 2010 EDT
Responses
I don't think so, Jim. The new site is open to everything under the sun. It looks like it is trying to compete with eBay. Handmade goods will be buried with junk made in China.
Posted at 11:09am Sep 21, 2010 EDT
"This combination of forces will help propel artistic and handmade goods into the mainstream of e-commerce, bringing you more traffic and sales."
___________
hmmm....bringing you more traffic and sales... when I see it it I'll believe it.
Posted at 11:09am Sep 21, 2010 EDT
I wish they had sold out to Artfire, at least that would make more sense.
Posted at 11:10am Sep 21, 2010 EDT
Yeah, I just saw this on facebook....I thought 1000 markets was a jury site?
Posted at 11:11am Sep 21, 2010 EDT
1000 Markets was indeed a juried, handmade only site.
Posted at 11:12am Sep 21, 2010 EDT
it is or was a juried site, who knows what it will look like in a few days.
Posted at 11:12am Sep 21, 2010 EDT
1KM never had a chance with their failed business model. They never marketed it, used the obscure AmazonPayments rather than PayPal (how many people were turned off by that and did not buy?), and never had a solid revenue model. There was no way it could last and the fact that they are bailing out before the holiday season says a lot.
It never came close to competing with the critical mass that Etsy has achieved. Hopefully this is the last we hear of Matt Trifiro in the handmade world.
Bonanza is just another Ebay - stick to Etsy where sales actually happen on a regular basis.
Posted at 11:12am Sep 21, 2010 EDT
I closed my account. I was on the fence anyway...with no sales in over 6 months on 1KM after a great start. I do not want my products on an eBay-clone.
Posted at 11:13am Sep 21, 2010 EDT