Why Did Yahoo Buy Contest Site Bix?
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 EpinionsYahoo! got a seasoned social media man to put in charge of a number of product management at the company’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?
Andy Beal is an internet marketing consultant and considered one of the world’s most respected and interactive search engine marketing experts. Andy has worked with many Fortune 1000 companies such as Motorola, CitiFinancial, Lowes, Alaska Air, DeWALT, NBC and Experian.