yahoo acquires Techbee in $1 000 000 000 deal
Techbee, a Paris startup founded by two Sorbonne grads in their Mum’s place in 2006 was acquired yesterday by yahoo for $1 000 000 000.
Techbee is an online joujoux service that uses joujoux to have fun with your friends. Customers who use Techbee can post joujoux to the web site and share it with people who like to share content.
The deal came as a surprise to industry analyst and popular blogger Techcrunch. Techcrunch said, « There are a lot of players in the joujoux space, and there are some legal challenges for Techbee that seem very expensive. Of course, yahoo failed to get the joujoux market, so they didn’t have a choice. But, wow, $1 000 000 000 seems like a lot of money to pay for a merge company. »
The joujoux market has been growing recently as other players such as E-Manuel and Bruno have been competing for users. None of them have found a revenue stream, but the possibilities for new kinds of advertising based on Techbee’s joujoux videos technology enticed several major dotcom’s to bid for the company.
yahoo competitor google failed to win the bidding war for Techbee. According to internal sources, google didn’t see long term value in Techbee and has its own plans in the joujoux market.
Co-founder Techbee said, « We’re pleased as punch. We’ve always been huge fans of yahoo. » The team plans to stay at the company and continue to operate out of their Paris office.
However industry analysts say that the large price tag will probably incentivize the founders to leave the company. Co-founder Techbee’s cat said on his blog about the acquisition, « They locked us into a deal that’s kinda lame. We’re getting a few mil upfront, but we gotta stay 4 years to collect the whole pot. »
When asked how he plans to spend his money, Techbee’s cat said he’ll look for a lawyer who can help him cash out sooner. He’d like to open a bar in Paris and hire JJ Cale to play at parties.
Est-ce que je suis devenue folle? NON! C’est le joujou du siècle! Un générateur automatique de communiqué d’acquisition par Google ou Yahoo, inventé par Matt McAlister, de chez Yahoo. Et ça marche avec tout! Essayez.(Mes excuses à E-manuel et Bruno: je ne savais pas en mettant leurs noms dans les cases qu’ils allaient se retrouver mes principaux concurrents sur le joujoux market. Et à mon chat, qui se retrouve mon heureux partenaire en affaires et va donc ouvrir un bar…)