Feeds

Xbidit suspends operations

'The only thing against us was timing,' says MD

  • alert
  • submit to reddit

3 Big data security analytics techniques

Xbidit, the UK channel auction site that sprung up towards the end of the dotcom boom, has suspended operations.

Xbidit founder and MD Alistair Handyside said the directors decided on the move last week after four months of unsuccessfully trying to get the outfit a second round of funding.

But they will not close down the company - and plan to hang onto the Xbidit name for "emotional reasons". The five have already found or are looking for fresh jobs.

When asked if they may re-open the site, Handyside said: "I cannot predict how the market is going," but added that the directors wanted to keep the name to stop anyone else trading under the Xbidit name.

"If you have an IT proposition of any kind, you cannot currently raise cash for it," said Handyside. "The only thing against us was timing."

The Northamptonshire-based company was launched last December by Handyside, who previously worked at Ingram Micro, with backing from venture capitalist 3i.

At its peak, around 1,350 resellers were signed up for the weekly auction service.

Of its other nine staff, Handyside said all except one had found employment elsewhere. The Xbidit switchboard number will be kept open for any warranty or other customer queries. ®

Related Stories

The incredible shrinking Merisel
A surplus of excess inventory sites

Combat fraud and increase customer satisfaction

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.