I must admit to being a little perplexed as to why Yahoo decided it needed to acquire Bix, a company that provides online karaoke and contests.
The company does have 1 million users and has gotten to that size by offering contests with prizes worth as much as $50,000. But online karaoke?
I suspect this deal is as much about the people, as it is about the intellectual property. Here’s what TechCrunch has to say about the founder of Bix.
[CEO Mike] Speiser was previously the founder of Epinions…Yahoo! got a seasoned social media man to put in charge of a number of product management at the companyâ€™s most social products.
The fact that the terms of the deal were not disclosed, but likely less than $15 million, it’s highly likely this was a human capital driven deal.
Anyone using Bix? Am I just too old and out of touch? Anyone want to share their karaoke video?