Tribe sold for only $3 million
In a sign that reality is starting to come back into Web 2.0 valuations, Valleywag reports that social networking grandfather Tribe.com was purchased by Cisco for only $3 million.
Having said that though, are any 901am readers users of Tribe? I’ve heard the name many times in the past, but for the life of me I couldn’t actually tell you what it did until I revisited the site for this post. It’s fair to say whatever the site does, revenue would be lacking. The main page consists of 1 Adsense ad unit in the footer, which gave me a totally unrelated ad:
With an Alexa ranking on 2,677 though $3 million makes it a reasonable buy, after all, imagine how much spam content you could pump into those pages :-)
I think we have to look at the true implications for Cisco purchasing a facebook/myspace type system. This is HUGE news in my eyes because it indicates that Cisco will be implementing more social networking into their systems which will include all their huge corporations.
By john on March 6, 2007 4:08 pm