SubscribeTaobao Closed Keywords Bid Ranking System
One month after Taobao released its Zhaocaijinbao service(招财进宝), an auction-based, pay-for-performance searching keywords ranking service, today it has to cancel it under the pressure of users.
The result of the vote showed that about 60% respondents(127,872 users) voted against Zhaocaijinbao service, so Taobao decided to terminate the service on June 12, and all the payment for bidding the keywords after the service launched on May 10 will be returned to users.
I personally like the idea of the service, it is an innovative attemp to find another viable business model other than that of eBay. However, maybe Taobao has not did it in the right time, and it has not made enough preparation to educate the market and the users. Anyway, Taobao cannot be a free lunch for ever, it has to find its way. The shutdown of the Zhaocaijinbao service may make it more difficult for Taobao to charge users later.
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