In the “no one really gives a damn” category, Yahoo just killed off Bix, its “Karaoke ‘N Contests” side project. Yahoo? Now Google has some odd non core projects, but karaoke seems like a stretch at every level. Not to sound condescending, but what they hell were they thinking? At least their heads are now on the correct direction, the project is kaput.
Of course, some money had to disappear here. Bix, before Yahoo bought it, had raised a total of nearly seven million dollars. Yahoo bought it in an all cash deal in late 2006, only to shutter it now. Why? Well, if the Microsoft search deal tells us anything, it’s that Yahoo is going to be core-focusing like never before.
Turns out that karaoke is not. Core, that is.
Whatever the point or purpose, internet giants are beginning to regret their web 2.0 bubble purchases. Shockingly, paying millions in cash for companies with no revenue or future was a bad idea. Does anyone still go to business school?
