How did we come up with the name PayWut?
As a group of founders we had a long list of names that we were trying to decide from. Some good and some not so good. Ultimately we are about helping others find good deals or succeed as a salvage company or help those we call "micro sellers." So our hope was to find a name that matches it in a fun way. Some of the names we were considering included: Slap Price, Price Slap, Never Better Sales, Buying Adventure, Buy Adventure, Blitzed Out, Fun Price, VarieTSales, Tagged, LotaLotz, LiveLotz, LotDropz, SlapLot, SlapLots, MicroLots, Liquid Lotz, Pricerrific, Pallet Picks, Price Slappy, Knackz, Slam Price, Price Nerdz, aLOTa Deals, Shoppin Save, GettaLot and Buywut, among others.
Some names we didn't go with because the domain was too expensive or someone already had it or it didn't completely cover who we thought we wanted to be or eventually become. One morning one of us woke up and thought to themselves, "When people are showing their friends something they got for a good deal how do they respond?" Say Whaaaaaat? No Way, You Paid Whaaaat?? So he started saying these out loud. Say Whaaaaatttt? Pay Whaaaaatttt? After saying it out loud he started laughing to himself early in the dark of their room with their wife still sleeping. He immediately added, "PayWhat" to a google doc we as partners were sharing. Shortly after we all saw it we loved it and so we started sharing it with friends and family to see how they would respond. Many we shared it with laughed out loud and would natural say the same thing, "Pay Whaaaaatttt?" Someone owned the PayWhat domain and was selling it, but when you are bootstrapping it $5,000 is even too much to spend. So we came up with the slang version "PayWut" and it has stuck ever since.
We want people saying PayWut even if the deal wasn't found at our little shop. Two of us were previously employees at the salvage business store NPS - one for 16 years and the other for 24 years. We grew to love the salvage business and the diversity found there. You can definitely find good deals at NPS along with a lot of other places. Our other partner spent over 10 years buying and reselling. He spent a lot of time at Erkelens & Olson auctions, NPS auctions, NPS Stores and also NPS's DBA called Style Haven once it started doing clothing auctions. He was what we would call a "reseller" or "micro seller" because it was just him and his wife selling on eBay. They would search pretty much any thrift store, auction or liquidation place that they could find with a good enough price to resell on eBay.
Most little resellers like to keep their finds a secret and bury them so they are among the few in the know. But we love to share the great deals and plan to let you in on the secrets that we have found. We also want to take you on our journey and hopefully you will be able to learn from our successes and our mistakes.
May all of you enjoy the hunt and may it be full of PayWut's!!