Working in a startup, you are always aware of possible “exit strategies”: ways that your company’s startup phase could end. Good ones are acquisition and IPO. Bad ones include running out of money. Well-regarded calendaring site Kiko has a new one: auction the company on eBay.
They’ve built an impressive site. Their reasons for selling it seem a little capricious:
We are selling Kiko because we want to have time to work on other projects as a development team. We had a project in mind we just didn’t want to wait on :)
They may have a problem convincing future investors that they are in this for the long run, but if it works for them...
Comments
It is certainly an unusual strategy, although if it garners enough publicity then it's worth it. I think the $50,000 offering price is a bit low for any company that actually planned to put this to use, but they needed something to get the bidding started.
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