Pete Cashmore points to the recent eBay auction of a social network site developed by two individuals over the course of a year. Final bid for all blood, sweat, tears, and registered users (approximately 1,000) was $13,800. Richard MacManus wrote about it as well.
What I find interesting is that nowhere through the course of the sale (Mashable first wrote while the auction was still active) has there been any discussion regarding the business conditions of the service. The auction might as well have been for a used motorcycle - community college professor builds a custom bobber, rides it for a year, and sells it at a depreciated rate.
Maybe the new owner will bring some new / identifying ideas to the site. There’s potential in the space, but it’s going to take a little strategic thinking (and a business model) to tap into it.
