Owner of WhaBam Auction Site Files for Bankruptcy
By Ina Steiner
Open Source Systems Inc., formerly known as Open Source Storage Inc. (OSS), filed for bankruptcy on July 3, 2007. The company owned and operated the WhaBam online auction site that launched in late 2005. WhaBam had changed its name to StuffPals in 2006, and certain pages of the website now redirect to "StuffPad.com."
The identity of the domain registrants for WhaBam.com and StuffPad.com are now hidden through a proxy service called Domain Discreet.
WhaBam was launched by Eren Niazi in August of 2005. Sellers on WhaBam could choose between a subscription fee ($49.95/month with no other fees and unlimited item listings) or a 1 percent commission fee (with a maximum of $25 per item). The online auction site described itself as a little eBay, a pinch of Craigslist and a splash of MySpace for a "new kind of community-oriented bidding."
Niazi's company, OSS, provided high-end server and storage solutions for online content providers.
Note from the Editor: The publisher of AuctionBytes.com is a creditor of OSS.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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