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ByIndia.com up for sale on eBay

ByIndia.com, an internet search engine and social networking site which was founded in 2005 and later acquired by Web2Corp in August 2006, has been put up for sale on leading auction site eBay.com.

“With the quest of becoming India’s version of Baidu.com, Web2 Corp had arranged for $5 million in funding for ByIndia in October 2006,” William Mobley, CEO, Web2Corp, has said, “but the crucial funding never came.”

ByIndia.com, an internet search engine and social networking site which was founded in 2005 and later acquired by Web2Corp in August 2006, has been put up for sale on leading auction site eBay.com.

“With the quest of becoming India’s version of Baidu.com, Web2 Corp had arranged for $5 million in funding for ByIndia in October 2006,” William Mobley, CEO, Web2Corp, has said, “but the crucial funding never came.”

William Mobley has further said, “We would love to see ByIndia.com succeed fully, but we are no longer the right company to make that happen. Selling ByIndia was a hard decision for us, but we know that its value and growing user base will make it a great property for the right party.”

“ByIndia has remained a strong property in the Web2 Corp line-up, however, Web2 Corp is moving away from developing large branded portals with ad supported revenue models to direct sales of its commercial applications, and holding on to ByIndia.com doesn’t make sense for us,” CEO of Web2Corp has added. (Source: CNNMoney)

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