MySpace got $585 million. Mike Montgomery President and Head of Media Banking, Montgomery & Co. did the deal. Right now, he is sitting in front of me, moderating a panel on Exit Strategies for Private Companies at the AlwaysOn OnHollywood conference. I am covering the conference for Blogcritics. Eric Berlin reported on Day 1.
As a business lawyer in Southern California, I have seen money deals up close and from far away. It always seems a little random to me, who gets money when. Jason Calacanis, the head of Weblogs.com, which just sold to AOL confirmed that. Before the sale, he wanted to speak at events like this but Weblogs was “C-list” and Technorati was A-list. Now he’s A-list.
Much of the early discussion is on the decision to sell. From “take the money when it’s offered” to “don’t just walk away, get involved in the acquiring company and make sure you like the acquiring company.” It’s an interesting discussion but one that, in the end, is highly individualized. Apparently, according to Montgomery, venture capitalists are just starting to recognize the entrepreneur’s conflict.
After the panel on exit strategies, we returned to the presentations of the companies. SightSpeed did an impressive job of presenting a video phone call online. There are a lot of video providers. imeem, is a new, improved desktop client that integrated other web content into an instant messaging program. There are a lot of instant messaging programs. SoonR lets you make Skype calls on your regular mobile phone. VoiceIndigo lets you listen to podcasts on your phone. Clearly, I will need a far longer battery life on my phone.
I really, really liked Mozes, which lets you text message a keyword when you see something. Later you will have a boatload of information on your PC. This appears to have a quick learning curve and easy access. Whether there is enough content long term will make or break it. If I can walk by a restaurant and get the take out menu delivered to my account, it’s good. Right now, it’s unclear how much is available. Still, it’s cool and during the beta time, you can get your own keyword free.
Want to see it in action? Text JUSTENE to 66937. If you text DORRIAN, you’ll get an account and the transcript of the presentation. Then you can get your keyword. PMC gets you to Microsoft’s presentation on Portable Media Content. I am still underutilizing my new Pocket PC phone so it’s a page that interests me. Once you join, you can also IM keywords by adding your IM at Your Account.
If you create or find a Mozes keyword, share it in the comments. I’m collecting them. Techcrunch saw an earlier presentation by Mozes and also liked it.
Each series of content presentations was followed by industry experts talking about whether the product will make the next level. Every single one is in an overcrowded market. Back to that random factor. Will I get used to that? Ever?