In early 2011, the minimum buy price on the platform was $500K. By midyear, $300K. By early 2012, $100K. Early 2013? $50 (no K missing, just fifty bucks).
I believe you that it was a failure, but that doesn't follow from the minimum price dropping. Perhaps as they gained confidence in the system, they allowed smaller buys with smaller prices (but still just as profitable).
In early 2011, the minimum buy price on the platform was $500K. By midyear, $300K. By early 2012, $100K. Early 2013? $50 (no K missing, just fifty bucks).