For those of you that have been watching the auctioning process, the results are in. Kiko sold its assets on eBay for what seems to be $258,100.
Original article I wrote on the topic: "Hindsight 2.0: Lessons From A Failed Web 2.0 Startup"
Candidly, this is much higher than I thought it was going to be. I was actually a bit doubtful that even the minimum bid of $50,000 would be reached. I'm not so sure this outcome can be considered a "failure" at this point Just a relatively low price-point exit. If you weight this against the time and money invested in the project, it's not really that bad.
In the final lap, it looks like there were about five active bidders in the final stages. Not much else to write about, the original auction was terminated by eBay (so it had to be restarted). If you’re curious to see the details, you can look here:
At this price point, my guess is that the investors likely made some money and the founders did OK too. I’m happy to see that there was a positive outcome here. My congrats go out to the Kiko guys. My guess is that they’ll likely “double-down” and be using the proceeds to work on their new idea.