Smokoo announced on its website that it has been “acquired by bidfair and has ceased trading”.
“Smokoo customers may access Bidfair Site at www.bidfair.co.za,” the Smokoo announcement states.
According to Smokoo their customers are required to manually register a new account with Bidfair within 60 days to keep their credits.
“Once the 60 day period has expired any Smokoo customer who has not manually registered a new account with Bidfair, will forfeit any Smokoo bids remaining on their Smokoo account,” the company said.
Bidfair CEO Denzil Govender said that they decided to acquire Smokoo to boost Bidfair’s presence and grow its user base.
“We decided it would be the better move to take over Smokoo rather than doing a merger. Although we are not as recognized as Smokoo, we are leading the way in customer support and customer satisfaction,” said Govender.
According to Govender it would not have made sense to keep Smokoo alive as it “cannot offer any more options to their current users”.
“BidFair has a much more unique platform that allows us to introduce new concepts into online auctions,” said Govender. “Although the Smokoo name will soon fade away, all of its users were welcomed into BidFair.”
Former Smokoo marketing director Thomas Pays said that due to a confidential agreement he could not comment on the matter.