What a Shock...NOT! Bidville has no place in Ubid's plans! Ubid to CLOSE BV!

[mandy]

Is Ubid finally admitting what we already knew - its sole reason for acquiring Bidville was to get its hands on Bidville's 1-million member name mailing list?

Bidville does not fit in with its parent company's strategy, according to uBid.com Holdings CEO Jeffrey Hoffman, who said he is considering various options, including the possibility of selling the Bidville site. The auction site was conspicuously absent from last week's press release outlining uBid's new strategy, so AuctionBytes sat down with Hoffman to learn more about plans for the C2C auction site.

"As a public company, part of what our shareholders want us to do is to find positions where we can be in industry leader, and of course, Bidville is in a market space where there's an 800-pound, 8000-pound, gorilla already in the space. So it's a little more difficult for me to justify spending public funds in a public company continuing to develop a site that I can't claim will ever particularly be a leader."

Hoffman, who joined uBid late last year, said he has to decide if Bidville fits in with the overall business strategy of uBid, and said he'll be making the decision "in weeks, not months."...

full article: http://www.auctionbytes.com/cab/abn/y08/m04/i30/s01

[amy]

Is Ubid finally admitting what we already knew - its sole reason for acquiring Bidville was to get its hands on Bidville's 1-million member name mailing list?

I seem to remember saying that on the day Ubid bought Bidville. :imptongue:

The question now: will Ubid find a sucker willing to pay money for a site which has virtually no revenues or will Ubid pull the plug on the site if a buyer doesn't materialize?.

[sneakymagenta]

will Ubid find a sucker willing to pay money for a site which has virtually no revenues.

Would you want to buy a site that's filled with 900,000 penny baseball cards and 100,000 lots of gently soiled children's clothing?

[bidvillesucks]

Bye Bye   

uBid.com Holdings Inc., the leading asset recovery solutions company for the world's most trusted brands, today announced the decision to close its consumer-to-consumer auction website Bidville.com due to uBid.com Holdings' recent strategic change to focus on liquidating excess inventories.

Bidville.com's consumer-to-consumer model does not fit within uBid.com Holdings' recently streamlined strategy to provide comprehensive asset recovery solutions to its brand-name partners through a multi-channel sales model.

"We recently introduced a new, more focused business strategy," said uBid.com Holdings CEO Jeff Hoffman. "uBid.com Holdings is now a multi-channel asset recovery solutions provider. Clearly, our expertise is in a business-to-consumer marketplace dealing only in certified supply. We are simply not equipped to run a C-to-C marketplace like Bidville.com."

Guests may still register for the Bidville.com website via the "Register Now" button, which will remain active and allow users to bid in open auctions until June 13, 2008, when existing auctions must close. No new auctions may be listed as of May 27th and existing sellers have until June 27th to complete transactions. Prorated refunds will be available to sellers who provide their username, email address, and amount due in an email to refunds@bidville.com.

"We certainly appreciate everything the Bidville community has contributed. And, of course, if current B-to-C Bidville sellers fit our excess inventory solutions model, we hope they will find uBid.com a viable alternative," concluded Hoffman.

To become a uBid seller please visit http://www.ubid.com/sell

The closing of the Bidville site will have no material financial impact on uBid.com Holdings in the second quarter 2008. uBid.com Holdings, Inc. previously fully amortized the Bidville asset in the first quarter of 2008.

For more information please visit http://www.ubid.com.

About uBid.com Holdings, Inc.

uBid Holdings, Inc. is the world's leading excess inventory solutions company that links brand name sellers with customers around the globe. uBid Holdings, Inc. does this through its multi-channel asset-recovery solution that includes an online auction platform located at http://www.ubid.com, physical facilities liquidation and a business-to-business selling platform. Brand name sellers are able to reduce excess inventory more efficiently and profitably than ever before. And however they choose to buy, shoppers now have an inside connection to the world's most trusted brands at prices far below retail. With more than 10 years experience in online commerce, uBid Holdings, Inc. is headquartered in Chicago, IL. uBid.com Holdings, Inc. is publicly-traded on the NASD OTC bulletin board (UBHI).

SEC Filings and Forward-Looking Statements

Additional information about uBid.com is in the company's annual report on Form 10-K, filed with the Securities and Exchange Commission.

Certain statements made in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements using terminology such as "anticipate," "believe," "estimate," "expect," "intend," "may," "could," "possible," "plan," "project," "should," "will," "forecast," and similar words or expressions. uBid.com Holdings, Inc. intends that all forward-looking statements be subject to the safe harbor provisions of the Private Securities Litigation Reform Act. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of uBid.com Holdings, Inc. and the industries and markets in which uBid.com Holdings, Inc. operates. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. Factors which may affect the forward-looking statement identified above and uBid.com Holdings, Inc.'s business, financial condition and operating results generally include the effects of adverse changes in the economy, reductions in consumer spending, declines in the financial markets and the industries in which uBid.com Holdings, Inc. and its partners operate, adverse changes affecting the Internet and e-commerce, the ability of uBid.com Holdings, Inc. to develop and maintain relationships with strategic partners and suppliers and the timing of its establishment or extension of its relationships with strategic partners, the ability of uBid.com Holdings, Inc. to timely and successfully develop, maintain and protect its technology and product and service offerings and execute operationally, the ability of uBid.com Holdings, Inc. to attract and retain qualified personnel, the ability of uBid.com Holdings, Inc. to successfully integrate its acquisitions of other businesses, if any, and the performance of acquired businesses. uBid.com Holdings, Inc. expressly disclaims any intent or obligation to update these forward-looking statements, except as otherwise specifically stated by uBid.com Holdings, Inc.

[sneakymagenta]

The closing of the Bidville site will have no material financial impact on uBid.com Holdings in the second quarter 2008. uBid.com Holdings, Inc. previously fully amortized the Bidville asset in the first quarter of 2008.

translation: they decided to close it months ago and waited until now to tell users

[bargainbloodhound]

[quote author=sneakymagenta link=topic=17773.msg70261#msg70261 date=1211584302]

The closing of the Bidville site will have no material financial impact on uBid.com Holdings in the second quarter 2008. uBid.com Holdings, Inc. previously fully amortized the Bidville asset in the first quarter of 2008.

translation: they decided to close it months ago and waited until now to tell users
[/quote]

They issued a press release but they still haven't told BV users.  There's no mention of the closing on the site, no mention on the listing forms that the 27th is the last day to list auctions.  Nothing.

[dimucci]

http://www.bidville.com/greedbay.htm