Just got an e-mail from B&H about their new referral program.I recall a short-lived online bank called X.com doing the same thing. First it induced many people to post inappropriate messages in newsgroups and on message boards saying "sign up with X.com and we'll both get a little money" -- this flood of spam caused the company to be hated by many regulars readers of the forums. It also helped to burn up X.com's supply of working capital. Overall it seems like a bad move in my opinion, but time will tell.
Short lived? Paypal, the online service that most eBay users use to pay for their auctions, is owned by X.Com. In fact, you get to the Paypal site via www.x.com. And they still have the referal plan, where you can click on a link in someone's auction to sign up for a Paypal account, and the auction owner gets $5.Mike McCormick
I was trying to think if they are losing money...paying out $40 for every new account. I wonder what they end up paying in advertising per new account. $40 might be a bargain in comparison. I really have no idea though. I just really hope B&H holds on. I really love it.
I like the introduction of the referral program. That's how I found out about paypal, and I love my paypal account! I got the e-mail, and plan on referring buyandhold to some friends. Right now is a great time to invest in America.
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