BOOCOO is a new auction site that takes direct aim at eBay auction. Alternative eBay sites are not new and most of them continue to struggle, but BOOCOO has a big advantage – Money. Boocoo was started by a coalition of over 300 media partners including newspapers, radio and TV stations. The impetus for the investment is falling ad revenue in traditional media. The founders hope Boocoo can make up some of the shortfall.
If the name sounds strange it is a play on the word beaucoup which means many or much. For example if you were rich someone might say: “That guy has beaucoup bucks.”
The site already has listing and bidding action. Fees are about 20% lower than eBay. This is higher than on several other alternative auction sites. As well as charging for listings, the revenue plan for the site is to license listings by zip code to individual newspaper publishers. The idea is to license zip-codes to more than 300 newspaper publishers, such as The Boston Herald and the Pittsburgh Press.
When I went to the site and did a search, it brought up listings that were geographically close to me first. The interface is clean and works well and the site will act familiar to those who have used eBay.
eBay is vulnerable to competitors in the auction category as they are focusing more and more on fixed price as they try to be more like Amazon.