I met Chris Schultz of Voodoo Ventures at BarCampHouston back in June. Even though I’d never knew that he existed until I met him, he was the sole reason I got involved with BarCamp in the first place. I wanted to meet bright, energetic, entrepreneurial people who “got it” in the online space. We hit it off immediately and have traded emails and blog comments for the last few weeks. As I’ve gotten to know him a bit better, I realized that my initial assessment was spot on for once - he’s proven to me to be a stand up guy. It takes someone who possesses great character “to know when to fold em”.
In light of the Kiko affair, he just sent me a personal email that explains why he is putting one of his first ventures up for sale. I am copying an excerpt from that email here with the hope that it will generate some interest in the auction. His thoughts and feelings about the decision are extremely insightful and are absolutely worth a read on his blog below.
Speaking of which, we actually have put Huckabuck.com up for sale on eBay. We have several other projects in the works that are coming up fast this fall, and after examining our resources, opportunities and opportunity costs, we’ve made the decision to try to see if we can spin of Huckabuck to a team that can take it to the next level. All that being said, we are pretty unsure of how this will turn out, we’re kind of taking a flyer with it. I know eBay is not the traditional liquidity event that incubators use for their projects, but we want to test the market a little bit with it, and if nothing else it might give interesting insight into how the market values it (right now its $10.50).
The eBay auction is here: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ih=008&item=180023313880
Huckabucks thoughts on the subject are here: http://www.huckabuck.com/blog/show/57
And my personal musings on the matter are here: http://blogalicio.us/2006/08/30/get-a-huckabuck-on-ebay