Swoopo had a controversial beginning, being heavily criticized. The critics used to say that the Penny Auction site was a legalized way of gambling. Some people used to think that winning Auctions involved skills and luck. However, the argument about "skill" was put down when The Washington state attorney general's office defended Penny Auctions sites concluding that they don't constitute gambling under state law.
Swoopo also revolutionized the Penny Auctions world by being the first site which allowed the bidders who lost an Auction to get back all lost bids towards purchasing. Another curiosity: Swoopo's first name was Telebid because users would bid on the Auction by phone!
Penny Auctions sites quickly became a great idea and many other sites started to compete with Swoopo for the bidders market. Once the competition was established the sites started to invest in better products to be auctioned, new marketing channels, greater efficiency of existing channels and new geographic markets.
Besides the competition Swoop also started to have financial problems. In 2011, the site became inaccessible and Swoopo's company filed for bankruptcy. There is no information regarding whether the site will reopen or close permanently.
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