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?
1 trackback so far
5:33 PM PT
Mojungle, for sale now on eBay…
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. …
10 comments so far
3:43 PM PT
I don’t trust the seller. He has 0 feedback ;)
4:46 PM PT
dudes, i think that gigaom should buy this startup, and then let the community of readers vote on a ‘volunteer management team’ (basically some rich dudes with free time) - and let them prove their worth by making this company work, hiring mba’s to work out the strategy if required…
you could use it to create a tech industry events portal…people could snap pics and video bits from every event coast to coast (my current idea for you, though i’m sure there are others)…every gathering, every formal and informal event, all chronicle and commented on at gigaom…makes that 60k look like a drop in the bucket for ad and exposure…
seriously, perhaps it’s not at all about the technology (looks nice), but rather the lack of a clear plan…so scrap that, and just cater to the early adopters - namely: your readers, their friends and the people who go to conferences that are just about things like widgets…
5:12 PM PT
With the free shipping it’s not a bad deal (lol).
6:38 PM PT
The techonology behined the mojungle service is plain and simple.
I guess they don’t have a strong revenue generating model as of now.
7:39 PM PT
I might put my startup up for sale at eBay, at a price only crazy people would pay, just for the publicity.
7:56 PM PT
Wow, the first company referenced NeoMedEx was listed for $500K but is now available for $1MM!
(link)
5:23 AM PT
Web 2.0 boom is here, it now looks and feels pretty much the same as 1999…
8:46 AM PT
Sorry Al but this is not even close to a bubble YET. It kinda reminds me of 1996 not 1999. We still have another three years before things get really insane…
9:43 AM PT
Hi there, just curious, what makes this website worth 60k? As far as I can tell, there is no traction or traffic, not to mention there is any technological barrier to entry. Any of my programmer friend can crank it out in a couple of months at most with a shoestring budget, it shouldn’t take 3 full-time to build it. The whole thing looks more like a get-rich-quick kid simply wants to cash out fast in the midst of bubble 2.0.
1:28 PM PT
I know the guy and the company that built it. Not worth a dime.
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