Overture raises minimum bidding to 10 cents!

[thinkaholic]

I, personally, was not notified by Overture about this, but I thought it was significant news for us. I received an email about it. Not sure why Overture didn't think this was worth a mass email to their customers. Oh well...

"Effective midnight Pacific Time tonight (February 6, 2003), minimum bids on Overture will be raised from 5 cents to 10 cents. Listings from 5 cents to 9 cents will be grandfathered in for the time being. Historically grandfathered 1 cent to 4 cent listings will be moved to the new grandfathered minimum bid of 5 cents effective March 29, 2003. Any changes in bids for your listings will result in your minimum bid moving to 10 cents."

I have an account with Overture and it has not done me much good. The ROI I received is not even worth mentioning. I seriously doubt I will be placing any more bids now that it has to be at least $.10.

Do you think they are in financial trouble to be raising their minimum again?

 

[bidawinner]

Double their revenues in one swipe!

Trouble..oh yeah.. Google has all the other "SE's" in "trouble" and thats a shame..

 

[DeCal]

UK Overture are raising their min bid from £0.05p ($0.08) to £0.10p ($0.16) which will cause a problem for some of my clients.

 

[DeCal]

I Agree!

 

[izopod]

Originally posted by NameGuy
Reason.. simple... it's spelled G-R-E-E-D.

Actually it's spelled I-D-E-A-L-A-B

http://www.idealab.com/frame.tp?http://www.overture.com

Idealab is being sued...


izopod

 

[DaddyHalbucks]

Overture blows (in my opinion)

 

[hiOsilver]

I was an early Goto (I never liked nor understood the namechange to Overture) advertiser. I have been advertising my hiOsilver Oxygen Water
http://www.hiosilver.com on Goto for 4 years.

When they raised the min bid from $.01 to $.05 (a year or two ago), I told them that I would cancel my account. Overture backed down and grandfathered bids of less than $.05. Now they are going to push all <$.05 bids up to $.05 and grandfather other bids less than <$.10.

This time I did not bother sending them an email. I simply changed my Goto account so that it will no longer replenish off of my credit card. This will effectively end my relationship with this overly greedy company. When my current balance runs out, I will not put any more money in. Perhaps they will figure it out. Goto makes tons of $ where the min bid is $1 or more. Why they feel they need to charge more than $.01 when no one else wants to pay for the traffic is a mystery. Well not really, I guess they are willing to alienate their existing low-payout customers in order to raise the table stakes.