Platform Lets Investors Buy Fledgling Startups For As Little As $10
SideProjectors.com helps sell and save half-finished or failing companies.
- 26 august 2013
For every successful startup, there are an innumerable amount of ideas that have failed to get off the ground, whether the result of the developer hitting a creative wall or because of a lack of funding, some startups never actually start up. Now, there is a place where people seeking to invest, and developers hoping to offload their unfinished ideas, can go to revive the flailing project.
Sideprojectors.com began as a side project for its creator, Eric Bae. Australian developer Bae was inspired by many of his own side projects that have fallen to the wayside over the years, so at a Sydney hackathon he developed a marketplace for all these half-done projects, an open forum where people could sell their ideas or find cofounders to get them on their way again.
The idea allows people to sell their project in its entirety, while others are merely seeking an investment. Sellers can determine their own selling price and some go for as little as $10 (such as Winestagram which lets you embed memories in wine corks) while others such as S.ynap.se, a visual sharing amalgam of Pocket and Pinterest is asking for $20,000. Bae told The Daily Dot:
Since launching two weeks ago, we have had almost 80 projects posted and five projects have been sold successfully, with about 20 other projects under negotiations between the buyer and the seller,” Bae explained, noting that the site is still too new to have produced any success stories. “We are yet to realise what people have done with their newly purchased projects… but I’ll be surely following the progress.”
Photo via Flickr