Townster is sold to highest bidder on eBay
3 Nov. 2008 | Author: After Townster, a local search and ratings portal with networking capability, was offered for several months for sale on eBay, it was recently finally sold.
As can be seen in the offer page on the online-marketplace, the virtual hammer fell for Euro 37,827.77 for the platform. A real bargain, considering more than Euro 150,000 had been invested in the project. The new owner of the portal is the Ex-OnVista head Michael W. Schwetje, posted Townster co-founder Gleb Tritus in his personal blog.
Townster was launched in summer 2007 (see our article). After an unsuccessful financing round and disputes among the founders in November 2007, the hunt for a buyer was started for this local search presence. According to a post by Gleb Tritus in Townster’s company blog, the sale did not happen at that stage, because the interested parties were only interested in taking on the portal with the full team. The team members had by that stage essentially been dissolved and were committed to other projects. Finally, it was decided to offer the platform via ebay auction. However, even after the successful sale, Townster is still a topic for its previous owners- they are planning to “support Michael & Co. as they hunt for suitable new team members, so that Townster can relaunch on the same track as beforehand.”
Townster is sold to highest bidder on eBay
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