It was inevitable! Ever since founder Ev Williams decided to buy back San Francisco-based Odeo from his investors and shift his attention to fast growing SMS-alerting service, Twitter, it became clear that Odeo brand and domain might be up for grabs. Today he announced as much on the Obvious Corp blog, even though Williams points out that AdSense does cover the costs of running the service as it is. They want to sell the domain, the platform, and the brand – either for cash or equity.
Odeo is worth something – it gets 684,941 visitors a month, and generates over 3 million pageviews. Perhaps Williams & Co. can recoup enough to cover what Ev had to pay back his VCs!
It seems likely Odeo is worth more to someone else than it is to us at this point, so we’re looking for a new home for it. We’ve been having some conversations with potential buyers, and this is our attempt to put the word out more widely in the most expeditious way (and without involving investment bankers and the like). If we don’t get any attractive offers, we’ll continue to run it.
In a separate post on his personal blog, Williams argues that with so many tiny companies looking to sell themselves without availing the services of an investment bank, why isn’t there a proper market place for selling smallish-project-companies. In the past several companies have tried to sell themselves on EBay, but only a handful have been successful. Ev does bring up a good point: maybe it is time to set one up. Maybe Paul Graham can incubate it?
Incidentally, with those stats, how much do you think Odeo can fetch?