ByIndia.com giving 5 million dollar sweepstake!
Web2Corp’s which recently invested in ByIndia.com, a search engine and social networking site, is now offering a $5 million dollar (USD) sweepstakes to new registrants to any of its properties. Starting on January 29th, 2007, Indian citizens living in India or the United Kingdom who sign up for a free account with ByIndia.com will receive a virtual sweepstakes ticket.
Although each registration is limited to one free entry, users will be able to refer up to 10 friends to ByIndia.com. If a referred friend signs up, the user gets an additional entry for each of those friends who register. Each month for 1 year (unless a winner is drawn earlier), ByIndia.com will host a drawing for those with virtual tickets to check if their numbers won them $5 million dollars (USD).
This is called creating referral marketing through a contest. The question is how many of those who come to the site will actually form it loyal userbase in the future??
(Via Press Release)



















My personal take is that this is just extravagant money spending. $5 million can be used in a much better way than blowing away in lottery like this. This is just some thoughtless marketing.
Madhur
http://ileher.com