| Count me in on that theory (another member from the peanut gallery!). The whole story just sounded so contrived from the start and didn't play out much better. I mean, we know 37signals and reality are not best friends, but just throwing away 220k/yr in nearly passive income if it doesn't sell for the desired price, seemed a little far out there to begin with... With that kind of money at stake I'd have expected at least a little more enthusiasm in the flippa-auction from their end. No least given how much DHH likes to bash the VC-gambling - how does that jive with playing russian roulette on a product raking in that kind of money, for no plausible reason? My pet theory is similar to yours; I think they simply had a buyer from the start, and offered to throw in some "37signals original flavor media spin" as a bonus. Whichever the truth is, it obviously worked out for them. |
We tried to sell Sortfolio a year earlier and nothing came through. We decided to try again this time with a deadline and a public price.
This deal materialized because the buyers were interested in what we were selling, we liked their enthusiasm for the product, and we reached an agreement. The deal came together towards the end of the deadline.
It would have been a lot easier and less stressful for all involved had we had the buyer up front. We of course would have taken the up front easy way had it presented itself.