Act Now! Own Your Very Own Web 2.0 Startup
Edgeio, in which Mike Arrington of TechCrunch was involved, shut down recently. The assets are up for auction for 250K. $5 million in funding, and so far: 0 bids.
Another shaky startup is PodTech which Robert Scoble has been creating video podcasts for. He’s reportedly leaving the company in 2008 for greener pastures. He’ll be fine, but PodTech speculation will surely continue.
But wait, there’s more:
- Social networking site Classmates.com pulled their IPO.
- Blognation imploded with bloggers unpaid and feelings hurt. Assets will be auctioned off soon.
- Startup YouAre.tv offers itself up on eBaywith a low 17K monthly uniques at $25K. (If your startup has less monthly uniques than this Webomatica blog – you have a serious problem). So far: 0 bids.
I wonder if Web 2.0 shut-downs will accelerate in 2008. Recession seems right around the corner (if it’s not here already) and there is an excessive number of similar startups facing a slowing economy. But ultimately, this weeding out of the non-Facebooks and the shutting of easy credit may be good for all. I think the nerd term is “creative destruction.”
Anyhow, if you want to get in on the startup action, put in a bid for any of these companies. Your public mocking guaranteed to ensue via Valleywag or Techcrunch and around the tech blogosphere could be a really smart PR move.