Sale of Retweet.com Fetches $250,000

Retweet.com, a site very similar to Tweetmeme, launched back in August 2009. Everything at Retweet.com including the look, the functionality, the business model was just too similar to the original Tweetmeme site. A lot of people wondered how Retweet expected to gain any market share. It seems like after 8 months of struggling, the owners finally tried to get rid of it.

Retweet.com was put up for an auction on February 17th 2010 and was finally sold for a decent sum of $250,000 yesterday. It seems there were a total of 45 bids before somebody decided to pay the Buy It Now price of $250,000. The identity of the new owner is still unknown. The auction took place on Flippa, a premium market place for buying and selling websites. This transaction fetched the highest price somebody has ever paid for a website on Flippa.

The site claims 12 Million uniques per month with 26 Million page views and no revenue. A lot of value is associated with the domain name and that probably was a big factor in valuing Retweet.com at quarter of a million dollars. One of the co-founders of Retweet.com was the young social entrepreneur Tyson Quick.

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