We just received a message from Vamooza.com‘s new owners tell us that they have lost their funding and will be refunding bids and selling the site.
“We have lost our corporate backing and can no longer continue doing business at the highest level of professionalize our customers have come to appreciate. All purchased bids will be refunded within the next week.
If you are interested in purchasing the site please send an email to admin@vamooza.com. Thank you for your support!
Vamooza Team”
Like we told you before, it’s not easy running a penny auction site, more on this in the near future!
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Brandon Evans February 3, 2010, 8:33 am
No offense, but Vamooza.com's auction platform uses the classic Fiesty Site "Swoopo Clone" script (complete with autobidding). The admin area is sorely lacking, which means hours spent manually processing orders, listing auctions, reports, etc. That's just not a good way to spend your time, when more sophisticated and time-saving administration features could be had elsewhere.
Compete.com shows Vamooza.com's unique visitor count only averages 48/day over the 9-month reported figures and that includes spikes due to advertising, not just organic search. Not exactly a heavy-hitter. Breaking it down further while giving the benefit of doubt, if a generous 10% of those unique visitors were to splurge on a $75 gold package, then the site would only have $375 a day to fund it's auction items. Slim margins. No wonder the investors moved on… I recommend you do the same.