Now that no one wanted to pay the $150K minimum bid (click on the pink box that says “Adaptive Real Estate Assets”), I’m once again curious, what is going to happen to Adaptive Real Estate Systems?
If someone wants a company with $12k/month revenue stream, 57 MLS IDX feeds (approximately 1.3M listings), the price just got a lot cheaper. Although it is interesting that the original owners, who presumably cashed out at a much higher level don’t think it is a business worth buying at that price.
In
Looksmart bought Edgeio – not sure if the purchase included ARES’ assets.
I wondered that myself. I almost posted about it.
For one that it didn’t get any offers is bad so you can now discount the price (no offers=price to high)
Two, the fact the founders didn’t buy it back makes you wonder.
Three, It might have 12k per month revenue built in but how many of those customers are/will jump ship? Let’s cut that revenue number in half (high hopes) and then offer 10x monthly revenue. 60K offer. Typical website buying is to offer 10x monthly revenue, not typical of buying a business but lets just lowball it and see what happens
Maybe 60k is worth access to 57 MLS’s???
I’ll pitch in 1k
you in for the 59K????
You couldn’t pay me to run a bunch of IDX websites! The upside seems so small. 😉
Joel: The action site definitely makes it look like no one had bid on the ARES’ assets.
A comment on TechCrunch: The assets are going in a separate auction
Keith Teare
December 22nd, 2007 at 4:22 am
A couple of people have asked about the ARES sale.
The reserve on ARES was $150,000. Despite a lot of interest in the assets nobody bid the reserve. As a result there was no buyer.
In discussions today we have decided to re-auction the ARES assets, but with no reserve. The auction will run through next Wednesday.
Keith Teare
ceo/edgeio
Michael: That’s interesting stuff. Great find.
Dustin,bid is up to $22k. You can see at this page: http://www.domaintools.com/edgeio-auction/
Fascinating! Great to know the auction is on!
I always wonder why people start betting so early on an auction that won’t end for a few days. Do they see it as an advantage to run the price up early? Do they just want to see their name on top?
Interestingly, I’m counting 9 bidders so far:
amilator
astanley
bgaskill
Domained
Globalbillboards
mhavoc
michaeldm
MyREALTYcom
SRE
With the exception of MyRealty.com, I can’t make out any of the bidders.
I don’t understand why “bgaskill” keeps overbidding himself:
2007-12-24 00:25:52 bgaskill $26,000 (proxy)
2007-12-23 20:18:04 bgaskill $22,640 (proxy)
Why bid 22,640 and 4 hours later, with no other bids placed, increase it to $26K???
This isn’t the only example:
2007-12-22 10:03:15 bgaskill $17,250 (proxy)
2007-12-22 09:46:58 bgaskill $15,839 (proxy)
What’s up with that? Seems either bgaskill is trying to run up the price, or somethings just goofy with the auction site.
Touching on previous conversation… Maybe Z will bid to get the listings and access to data.
Jessie: Interesting idea, but I heard somewhere that Zillow has already gone the route of becoming a broker in many areas in order to get access to listings. I think going the brokerage route, versus the IDX route, makes a lot more sense because they get access to so much more backend data.
[…] we know what happens to ARES… Or do we? A few simple google searches didn’t turn up anything on the winner. Any […]
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