Tuesday, February 20, 2007

Odeo Looks for Buyers

Ever since founder Ev Williams decided to buy back San Francisco-based Odeo from his investors and shift his attention to fast growing SMS-alerting service, Twitter, it became clear that Odeo brand and domain might be up for grabs.

Evan Williams, the man who co-founded blogger.com foundation Pyra Labs with Meg Hourihan, has put his beleaguered startup Odeo up for sale. Odeo is a consumer facing audio service that’s been remarkably high profile about its struggles over the past year; Williams discussed mistakes candidly and bought the company back from investors in October.

Ev Williams’ Obvious Corp, which bought Ev’s Odeo property back from investors in October ‘06, is now looking to sell the podcasting site. The site is self-sustaining he says - AdSense pays the bills - but the company wants to focus on Twitter and doesn’t want to see Odeo die of neglect.

In the last few months, we here at Obvious have been increasingly focused on Twitter. As a result, our original product, Odeo, has not gotten the attention it deserves.

We guess Odeo could take anything between $5M and $10M based on the current popularity, site usage and brand awareness. We’ll see…

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