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Why we shut down Newsberry Part 2: Why we didn’t sell (wildbit.com)
31 points by alexknowshtml on Feb 20, 2012 | hide | past | web | favorite | 10 comments



Yeah, I don't believe it.

I think they never would have gotten past due diligence. They claimed to be generating $75k "in profit", but had no F/T devs on the project. Combine that with self-proclaimed stalled growth, and the company's a loser. I'm going to guess that a huge slice of that $75k was due to parasitic hosting -- they probably put it on infrastructure belonging to (or at very least subsidized by) their other "real" projects, so even $75k is a stretch.

Next, the codebase is hacked together (as they say in the "why we're not open-sourcing it" paragraph). People buying entire companies in a packed market like this are looking to buy something that's basically running on rails. Newsberry isn't this. Hacked together is fine for a bleeding-edge idea, but this thing had been going for 7 years.

A buyout would have landed somewhere in the 4-figures. If I were in their shoes, I would have turned it down, too.


Follow up post to questions about shutting down our $75k/year profitable product: http://wildbit.com/blog/2012/01/26/why-we-shut-down-a-produc...


I'd find it more interesting to see how a company such as this got to the point of getting an offer. Not trying to be rude, but I find articles like this a little too trendy.


What do you find trendy, not selling?


"Trendy"? How so? I can't remember the last "we could have sold it but instead chose to shut it down because it was better for us" essay I saw on HN.


ever considered something like flippa? it addresses all your concerns and is nearly impossible not to know about it if you do business online (and read HN)


From TFA:

>> It’s not like we were going to put a For Sale sign up. We had active clients who we didn’t want to scare off. We were still actively supporting the product and we also wanted to sell a profitable service, and for that you needed customers.


and that's taken care of by flippa if you want: you can do private auctions, you can hide names and urls until people sign an NDA and stuff like that

RTFM


Any word on why this was [deleted] until a few minutes ago? Inquiring minds want to know.


we'd love to know too, actually.




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