|Tue Sept 21 2010 07:09:51|
Bonanzle Changes Name and Buys Artisan Site 1000Markets
By: Ina Steiner
|Online sellers are waking up to big news on Tuesday - the marketplace that attracted disgruntled eBay sellers 2 years ago is changing its name from Bonanzle to Bonanza and has acquired artisan marketplace 1000Markets.com. |
Bill Harding launched Bonanzle in 2008 and raised $1 million in funding earlier this year, allowing the company to add to its small team - and to finally purchase the domain name Bonanza, as well as another Seattle-based marketplace.
1000 Markets is similar to Etsy and ArtFire, and only allows the sale of handmade, finished goods. Merchants who sold on 1000 Markets paid no listing or subscription fees, and paid 5.5% of the order total (inclusive of shipping fees) plus an additional 50 cents. The site used Amazon Payments exclusively; whenever a merchant made a sale, the full amount of the sale was immediately placed in their Amazon Payments account, and then the 100 Markets fee was deducted.
1000 Markets items will soon be listed on Bonanza, and its URL will redirect to Bonanza.com. Harding said Bonanza accepts Paypal, Google Checkout, and money order, so 1000 Markets merchants who choose to list on Bonanza would need to use one of those payment methods. Their listings will only show on Bonanza if they indicate they want that to happen, Harding said. It will be a very simple process to allow merchants to migrate their shops from 1000 Markets to Bonanza, he added, and said more details would be available in a FAQ.
Bonanzle also underwent some design changes in addition to its new name, which some of its sellers had insisted was necessary in order to grow - Harding talks about the reason for changing the name in the blog post announcement. (Bonanza is keeping its tag line: Find everything but the ordinary.) You can see both sites, Bonanzle.com and Bonanza.com, but in a few days, Bonanzle.com will redirect to Bonanza.com.
Sellers on "Bonanzle" who are concerned about what this means to Google SEO and traffic can read more on the FAQs launched overnight, where it says Google traffic will be reduced temporarily, but, "We expect that by the time the holiday season has started in earnest during October, traffic should be at levels equal to or higher than they had been before the transition."
See AuctionBytes Newsflash for details.
Warning 9/21/10: Do not use Twitter right now, do not go to the site at all, see AuctionBytes Forum.
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