Etsy competitor 1000 Markets bows out and has been taken over by Bonanza (formerly known as Bonanzle):
"On September 21, 2010, 1000 Markets will be acquired by Bonanza. The acquisition brings together two established and respected names to better serve their customers on a global basis.
Bonanza (formerly Bonanzle) is an online marketplace with more than 2 million visitors per month and 3.5 million products listed for sale."
Techcrunch has a few background details:
"Earlier this year, Bonanza raised $1 million in funding from a group of investors, including Ignition Partners, Voyager Capital, Founder’s Co-op and Curious Office Partners, all of Seattle, and Matrix Partners of Silicon Valley.The investment round also included angel investors such as BuddyTV founder Andy Liu, Wetpaint founder Ben Elowitz and Ontela co-founder Dan Shapiro.
1000 Markets raised $500,000 in funding last year from a group of investors, including Founder’s Fund and True Ventures."
In the past summer, 1000 Markets had launched Bixbe ("Sell Anything Easily"), which has in the meantime been discontinued.
The closing down announcement by 1000 Markets is very meagre and in this form almost embarrassing for a user driven enterprise.
Related posts:
- Quorus: How Personal Can Social Shopping Become?
- Etsy 2010: How Social Can Commerce Get?
- Etsy Investor Gives an Inside Peek
Originally posted in German by Marcel Weiss, adapted for excitingcommerce.com by Jason Soo.
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