I suppose that I’ve got to admit that TDavid was right about InviteShare being a pump and dump proposal. In truth, I really didn’t expect them to sell it yet. Didn’t seem like a very bright idea. Since I wrote about it, they’ve managed over 14k members. TechCrunch announced that they had bought it today.
Of course, one has to wonder if the site would have sold at all if TechCrunch hadn’t bought it. And even Mike admits that the price would have been lower if he hadn’t written about it. What was the price? Well the auction at sitepoint says it sold for $25,000. Nice little sum for a site that is only a week old. Not that TechCrunch doesn’t have that in the coffers.
I don’t think that Mike will let the site down. He’s already admitted that he was working on something similar before InviteShare came about but abandoned it when InviteShare was launched. I’m sure that played into the purchase as well. I think that any privacy concerns are also out the window as Mike would have a lot to lose if he were to violate any of the users privacy.
Overall, I think the site is in pretty good hands. I don’t care much for Mike, but he’s a shrewd business man and has plenty of resources to keep the site steaming ahead.