January 12, 2009 Leave a comment
I think it’s a shame the way TechCrunch have splashed the word ‘FAIL’ over the Library House logo on their post. The article is a good analysis of the information market in that space but do we really need to tag entrepreneurs that way? Can’t entrepreneurs occasionally sometimes do some not-so-good deals. They explored a market and felt there was some space to expand in it. I don’t think they were expecting phenomenal growth in the way a web2.0 business might. I sure it was more about embedding themselves in the wider investment space and having the ability to know where the future investment possibilities were, not only for their clients but for themselves also.
“Cambridge-based technology VC deals tracker Library House, which went into administration last month, has had its database of deals sold to Dow Jones. The Library House database and customers will now go into Dow Jones’s VentureSource, a larger, similar service.”
Anyway, they sold the business. This wasn’t akin to the crumbling business that was Woolworths. Dow Jones make a big song and dance about this acquisition, which for me highlights that even in a downturn, the assets and business of the LH were of good enough value for the DJ to buy it. Does anyone know how the Library House fared in the sale?
Full article here.