SesameVault eBay Auction Ends Without a Buyer

Last week, Open Box Technologies put itself on the auction block, setting up a one-week eBay (s EBAY) auction to sell all of the technology and infrastructure related to its SesameVault online video management platform. And though that auction ended yesterday without any bids, Open Box CEO Cameron Brian said the company is satisfied with the interest the auction generated and confident that it will find a buyer in the next few weeks.

Brain said in a phone interview that over the past week, Open Box Technologies has heard from 11 different companies that have shown an interest in acquiring it. Open Box is now in due diligence discussions with six potential acquirers, Brian said. “It became clear after a few days that no one was going to bid on the eBay auction, but it truly was a great lead generation mechanism,” he told me. “In part, we achieved what we set out to do, which was to attract companies that we hadn’t identified as buyers.” So what’s next? Read More about SesameVault eBay Auction Ends Without a Buyer

Open Box Technologies Goes Up for Auction on eBay

What do you do when your company has run out of cash and can’t seem to raise any more, but hasn’t been able to find a buyer through the usual channels? If you’re Open Box Technologies, you sell yourself on eBay.

The company has raised $2.5 million from angel and early-stage investors since being founded in 2005, but couldn’t close additional funding necessary to keep it alive. So now, in an effort to find a buyer, Open Box Technologies, along with its white-label video publishing platform SesameVault, has gone up for auction on eBay. The Open Box auction began this morning at 9:01 am EST, and will conclude a week later, on Feb. 24 at 9:01 am EST.

The company isn’t the first to sell itself on eBay; in 2006, web calendar firm Kiko put itself up for sale on the auction site, and was bought by Tucows for $258,000. But Kiko, which was founded by Justin Kan (who went on to found live streaming firm Justin.tv), was built for about $50,000, which was the reserve price of the eBay auction. Given the amount of funding that it has raised over the past five years, Open Box Technologies CEO Cameron Brain says he hopes to sell for much more than what Kiko received.

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