Penny auction site Smokoo has been closed down, after being bought out by local company BidFair for an undisclosed amount.
Smokoo went live in August 2010 and grew from three to 18 staff in a matter of a few months, before expanding to Russia, France, the UK and the US.
Founder Thomas Pays says the site, which is no longer active, is closing down completely in 60 days from the start of this month, although members who have not moved over can still wrap up their final orders.
A notice on the portal says Smokoo customers will have to manually register a new account with BidFair and bids will be reloaded and ready to use within 48 hours after registration.
Smokoo customers have 60 days to register from 1 May, and after that, those who have not moved over will forfeit any Smokoo bids on their accounts, it says.
New ideas
BidFair CEO Denzil Govender says Smokoo was purchased because BidFair, which has been running since 2010, had grown user numbers. The next step is “to become the largest and best online auction site in SA”, which is a growth area, he says.
Govender says Smokoo had the largest number of registered users, but its name and brand will now cease to exist in the online world. “We have now amalgamated two of the best online auction sites in this country.”
BidFair acquired the Smokoo brand name and all online associations with it, such as marketing campaigns and registered users, says Govender. Smokoo's management team and staff will be involved in new ventures, he says.
Pays says, while Smokoo was a very important part of management's life and the 19 months spent running it, it was time to focus on another new project.
The Smokoo team has been at work on a new project coming out in future weeks, adds Pays.
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