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Snapnames CEO Confirms No Fall-Off In Business From Halvarez Scandal

January 28, 2010

Back in November of last year, at the height of the Snapnames auction scandal, I wrote a personal assessment of the situation comparing it to the Absolute Poker scandal of 2007.  In comparison I recalled how quickly it was that Absolute Poker was back on its feet and suffered almost no significant revenue loss, and noted that I believed the very same would hold true for Snapnames. In my final analysis of that post I wrote:

“…regardless I think we will see in relatively little time looking back that this incident does not have the kind of sustained negative impact that some in the tech blogosphere are perhaps making it out to seem.”

It seems I was correct in my position. As I was just reading over the DNJournal 2010 State of the Industry report I caught this quote from Oversee.net President and CEO Jeff Kupietzky:

“Obviously, the Snapnames Situation was an unfortunate event for us and the industry this past year,” Kupietzky said. “We’ve worked hard to address that situation with all the resources we can. I have been very pleased with what some might consider a surprising statistic – we’ve seen  no fall-off at all in the SnapNames business. In fact, buyers that haven’t used the system for a time have come back to participate.” (emphasis mine)

In an online poll taken at the time by DomainNameWire.com, only one half of domainers surveyed (50%) said they would  bid on Snapnames auctions again. A full one third (34%) said they would never bid on Snapnames again. (17% voted not sure)

Decisions are often influenced by emotion. Now that tensions have eased I would bet that a good portion of those who voted never again will have recanted their position and are back to business as usual.

In fact, Snapnames’ January Monthly Showcase Auction did exceedingly well with nearly $150,000 in sales..

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