Entrecard is For Sale
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For those of you who don’t know what Entrecard is please read this post about what is Entrecard. I was doing my random Saturday surfing and came across some posts that mentioned this sale on sitepoint. I use Entrecard on a daily basis, thanks to the toolbar, and I am hoping the company that buys Entrecard will keep up the high level of quality and offerings that the current owner has been giving. Personally it sounds like he’s selling for a couple of reasons. One: VC money backed out, and two: it sounds like he might not have expected the huge growth that Entrecard has received. Here is his words for why he’s selling:
Entrecard holds a very special place in my heart. The vision for the company is enormous: aggregating all the advertising inventories across the long tail of the blogosphere, creating a virtual economy for the blogosphere at large, and providing them with a virtual currency that integrates with all other types of services via API.
I am selling because I have come to a stalemate. Entrecard is growing fast, but I do not have the resources to put behind it. I recently met extensively with Venture Capitalists who were going to make a 700k seed investment and a 2-5m follow on Series A investment in 6 months. The deal fell through in the 11th hour, right before the terms sheet, because they lost faith in my ability to execute the plan after a series of tests in which I did not know I was being tested. The valuation we were discussing was 8 million. We were going to open a headquarters, hire 10 people, and go straight to the top. Then it fell apart, and after getting my hopes up, I just haven’t been able to get back on my feet. I’m a wreck and feeling like a failure to come so close only to drop it due to my idiocy.
I also received an Angel investment several months ago at a valuation of $500,000. The network has more than tripled in size since I received that small investment. Month after month the growth rate just increases.
I would love to have the resources to purchase Entrecard and keep it doing at it’s current momentum but I don’t. I’ll just watch the sites and see what is going on regarding the sale of Entrecard.
While you’re at it, go join Entrecard and leave me a click or advertise on my blog. Get Firefox 3 and the Entrecard toolbar and get to dropping!
Related Posts:
Entrecard for Free Advertising. Is this the same person who started something like miilion dollar and wiki? Lots of bloggers (and some top one) last year opined that the so called wiki is the greatest invention since the slice bread. VCs are lining up. Hollywood is ready for a movie. Hmm! what happened to that site? It will be nice to check it out in Alexa
(NOTE: Edited to remove keywords in your name.)
Comment by Onerab — September 27, 2008 @ 12:22 pm
Have you saw the movie Startup.com? Check it out. Great movie about an idea in the Internet heyday!
Comment by Justin — September 27, 2008 @ 6:08 pm