This is via Rishab from silklist.
A web2.0 startup Kiko which was into AJAX based online calendering was sold on ebay for just over $250K. I guess they matched up with Google at least in the style of exit if nothing else!
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Looks great…I’ve also heard that HSBC is proposing to sell its office premises at Worli, Mumbai ( Valued at Rs.180 cr.) thro online auction…!! And one of HSBC’s Veep went on air saying that it’s quite their normal practise to find suitors thro online bids.
This route is ok with Web portals since the potential bidders get an online flavor of what-they-are-letting-themselves-in-for.
Taking a cue from Income Tax officials, if our Land Records Registries also push for digital display of records ( now they have only digital maintenance in urban pockets at the time of Registration ) routine processes like Title Investigation, NoC from various departments ( Electricity, Water, Urban Development etc.), Occupancy Certificate etc., could be done in a jiffy and more informed bidders would come forward to grow our RE market. Owing to high transaction value, it would result in optimal price discovery and online auctioneers would also generate huge revenue on a % per transaction basis. Above all, unauthorised construction followed by bull dozed destruction could be avoided to a great extent. ( vigilant neighbors can always cross check whether a proposed new structure has due sanction of law and public authorities )
Currently besides FDI restrictions in real estate, it’s the lack of transparency in transactions and defective titles to Realty Assets hamper the grwoth of Realty market in India.
Any entrepreneurial initiative in this direction I guess is sure to be a winner as it would have a complete social sanction to begin with.
never mind – just noticed that they are transferring full IPR too.
I saw the ebay auction. Are they selling an installation of Kiko only or are they also transferring full product IPR to the buyer ?
Here’s one more “Web 2.0” portal sold for meagre US $5,100
Link: http://tinyurl.com/ortuf
🙂
I couldnt locate the post on the kiko blog now but i do remember a post by one cofounder around the time of google calender launch. He had written that they were not afraid of google and that kiko is better and will survive. He had gone on to say that he would continue working on kiko even if it raked in no revenues. It was evident even back then that the post came out of frustation, its more clear now.
That makes it the second ROR app to have been acquired.