Entrecard exploring possibility of new owner. Announcement from Graham : As you all may or may not know, I recently met with some VCs over a two month period. We were working out a deal in which they were going to invest a $700,000 “seed round”, which would open a headquarters and allow us to hire 10 employees, with a follow on Series A round of 2 to 5 million six months later. The deal fell apart in the 11th hour, because they lost faith in my ability to execute the plan as the only member of a one person team.
I will not be putting the site into the hands of someone I think won’t act in the best interest of the bloggers, and I will not be putting the site into the hands of someone who I haven’t talked to extensively and gotten on the same page about where Entrecard goes from here. Bascially, I’m looking for someone who can execute my vision, because I don’t have the money or manpower to do it, and I’m disenchanted with VCs at present and don’t feel I have the resolve at this point to work out another deal with another firm.
Entrecard needs a team. It has gotten too big too fast, and without more servers, more developers, designers, and so on, it will buckle under its own weight. And so I have come to the opinion that the entire company, and all the bloggers using it, would be better served with a better-endowed owner.
I know this may come as a shock to many of you, but don’t worry. Nothing is final. I may not end up selling it. I may decide to cancel the auction and chase down the VCs with a second wind. But one thing is certain, something needs to change, and Entrecard needs the resources to get to the next level, and it is unfair to you, the bloggers, to make you the promises I have made of features to come, with no clear plan in sight to get them built.
That is all. Here is the link to the sale on sitepoint
good traffic and knowing so many people without EC. EC is really GREAT idea and a dream come true to many new blogger. I'm really hope that Graham still managing EC because he know the concept, direction and vision of EC. EC already help so many blogs make money online.
To those who really have the capital this is really fantastic opportunity. EC is a GREAT asset with fantastic value which can go far.
What is your opinoin??
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