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Innovation

eBay: Web 2.0 failed start-up flea market?

eBay lists winning consolation prize bid for Kiko; hopes of lucrative sale to deep-pocketed corporate player dashed.
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Written by Donna Bogatin, Contributor on

eBay identifies Item number: 120024164593, "Kiko Calendar: website, software, and domain," as sold at a winning bid of $258,100 (for Kiko history see "Eight sure ways to get in TechCrunch Deadpool")

For the Kiko start-up team, the sale is a consolation prize; They were hoping for a lucrative, quick sale to a deep-pocketed corporate player, as I discuss in : Web 2.0 amateur entrepreneurs: failure to succeed

we thought that the release of Google Calendar might be good because it would push one of the other big players into acquiring a calendar application to compete. 30boxes had stated that they didn't want to be bought out so, as the #3 player, things were looking hopeful. Things didn't pan out, but that's okay. None of us were ever had a Lexus on hold.

Factoring in investor payouts, selling fees and related expenses, the net proceeds to the start-up team will undoubetdly be significantly less than the eBay sales price.

Web 2.0 amateur entrepreneurs may very well hope to emulate the Kiko adventure, however. Who knows, we may soon be seeing pitches touting:

MAKE $250,000 THE EASY WAY!
Start-up a Web 2.0 company over the weekend for $700,
then sell it on eBay for $250,000!

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ALSO SEE: Web 2.0 on a shoestring: what bubble? and  Is Web 2.0 starting to see green?

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