EZBid goes titsup.com

It is becoming increasingly clear that if you are not eBay, or a white-labelled Fairmarket auction (like MSN and ZDNet) then you should leave well alone.

Take a look at EZBid.com, the US online auction business, which has gone titsup.com. The Seattle-based firm is shutting its doors to new lots as of December 15 and has put its assets up for sale. This is a very quick deterioration from December 8, when the company announced the de[arture of Timothy Black, CEO, President and founder. He resigned to spend more time on raising fresh funds.

There was some tittle-tattle a few weeks back that eBay was interested in buying the company. Today's news confirms that this rumour was certainly true.

Once upon a time, EZBid was known as Bidhit.com. Set up in 1997, the company offered users the chance to bid for "brand-name computers, peripherals, camera equipment, sporting goods, household goods, home electronics and sports memorabilia". In other words, it was a B2C retail venue for inventory close-outs, with anauction twist. ®