I didn’t want to let this pass without remarking on it:
The second part of Matt Carter’s gripping series on the abortive takeover of Active Rain by Move, Inc. is up today.
I thought AR’s lawsuit against Move was a joke from the first, and there is nothing in the text to lead me to change my views.
But, man! The drama of it all! Matt Carter has the skeleton of a good book, a cautionary tale about what happens when the wide-eyed world of Web 2.0 comes up against a crew of grizzled Wall Street-trained veterans. Lo-tech don’t mean no-tech.
Here’s the moral, if you’re the skip-ahead kind of reader: Verbal agreements are not worth the paper they’re printed on.
Fascinating reading, both parts. Well worth your time.
Technorati Tags: blogging, Inman, real estate, real estate marketing, technology
James Boyer says:
Yes, I have to wonder how long Active Rain will stay up and running as a going concern. They really are not worth much of anything, and how can they survive off of those banner adds long term.
March 6, 2009 — 3:41 pm
Mark Green says:
AR got played like a second-hand flea-market fiddle. I’m kinda disappointed this case settled out of court, it would have been interesting to see if AR could have won the case and what they would have ended up winning in damages.
Lesson learned here: if Move.com comes-a-knockin you’d better deadbolt the door.
March 7, 2009 — 2:36 pm