This is my theory.
Snapnames had the best snapservice in the business but they could see they were making peanuts compared to other snappers like ultrasearch and Buydomains who were using snapnames.com themselves to backorder domains and then resell them for a small fortune.
Some domains were reselling for $50000 that snapnames got only $69 for.
Shit even namewinner whose snap script then was very poor made more money out expired domains than snapnames.
So what to do?They had commited themselves with netsol to the WLS so they couldn't reneg on that and replace it with an auction system without it getting complicated and risking the ire of ICANN who had already approved the WLS.
So what happens?
The vicepresident of snapnames leaves the company and takes with him the snap script and sets up Pool.com.One by one he offers snapnames register affiliates $20000 up front to join with pool with a promise of a % for every domain caught.
Then Pool takes ICANN to court asking for an injuction to stop WLS on the grounds that it will restrict its fair trading rights.
In the meantime Snapnames has given up the ghost except for some minor changes to make it look like its still in the game.But its performance speaks for itself.
the only problem is some peoplelike SEGURU still promote snapnames as a great domain catcher and the loser is the guy who pays $69 up front and gets zilch for his money.
Of course this is all only a theory..but its
A FUCKING GOOD ONE!! 