Mojungle, a mobile media-sharing startup, is the latest company to put itself up for sale on eBay, with the bid starting at $60,000. The Los Angeles-based startup is less than a year old and has bootstrapped itself with just three full time employees. Mojungle CEO Ophir Tanz said they are shooting for at least $250,000 for the sale of the entire company including the technology, the design, and the domain name.
Tanz said the decision was bittersweet, but thought the company has a lot of potential for the right buyer – the eBay listing explains why they are looking to sell:
“The decision to sell Mojungle was a difficult one. We’ve encountered unanticipated and growing personal and business obligations not allowing us to make the full time commitment needed to build Mojungle into the strong brand we know it can be.”
The move is also another sign that the mobile content-sharing space is starting to become over run with startups pitching themselves as “MySpace for mobile,” and mobile social networks. Mojungle enables users to send camera phone photos and videos to the web, which are playable on the Mojungle player that can be embedded in sites like MySpace and Piczo.
Tanz says while the mobile market is still early for consumers, the market for mobile content sharing startups is getting somewhat saturated. “Everyone is still trying to find the right business model, and right now there are a lot of limitations in the market, like interoperability,” Tanz says.
There’s also a rush of these companies because VCs have been pouring money into them. In the eBay listing the company says:
“Mojungle is a self-funded company. We have been approached by several Venture Capital firms and independent companies looking for partnership opportunities. There is currently one, in particular, that is interested and ready to work with Mojungle to create a new product offering for its clients. We will be happy to make the connection, post-sale, if desired.”
The Mojungle crew has high hopes for the company after the sale, and Tanz says he thinks the closed carrier-controlled industry will open up in the near future. But obviously not in time for the original founders to stay at the helm of Mojungle. “It’s not the way I thought it would end, says Tanz.
Anyone interested in buying?