A few people have mentioned that they might have just did it for publicity. Initially, I was skeptical, but I'm starting to think it makes the most sense.
Given the prospect of a severe revenue dip once Sortfolio is detached from the 37 signals brand, the asking price (450,000) is very high. Moreover, as far as I can tell, they didn't respond to bidder questions on flippa. To me, it seems like the bidders and the auction were ancillary to their actual intent. Like other posters, I think their actual intent was to gain publicity for the 37Signals brand (not Sortfolio).
I expect they will follow through on their original pronouncement by shutting down Sortfolio soon; however, I don't think they ever had any intention to sell it. I think they are smart enough to know that someone with 450,000 in cash is also probably smart enough to know that it was a bad deal. By providing a spectacle by way of flippa, the narrative is now more impressive, they reaped a lot of positive press, and they reinforced their commitment to their core products.
Comments
A few people have mentioned that they might have just did it for publicity. Initially, I was skeptical, but I'm starting to think it makes the most sense.
Given the prospect of a severe revenue dip once Sortfolio is detached from the 37 signals brand, the asking price (450,000) is very high. Moreover, as far as I can tell, they didn't respond to bidder questions on flippa. To me, it seems like the bidders and the auction were ancillary to their actual intent. Like other posters, I think their actual intent was to gain publicity for the 37Signals brand (not Sortfolio).
I expect they will follow through on their original pronouncement by shutting down Sortfolio soon; however, I don't think they ever had any intention to sell it. I think they are smart enough to know that someone with 450,000 in cash is also probably smart enough to know that it was a bad deal. By providing a spectacle by way of flippa, the narrative is now more impressive, they reaped a lot of positive press, and they reinforced their commitment to their core products.