So much for the wisdom of crowds. Techcrunch (and Mark Evans) are reporting that Calgary crowdsourcing up-start Cambrian House is headed for the deadpool. Apparently VC Spencer Trask passed on making an investment in Cambrian but instead has picked up their assets cheap - fire sale cheap. Techcrunch's Erick Schonfeld reported today that Cambrian House’s IP, assets and website will be sold to Spencer Trask for far less than the $7.75 million that investors pumped into the company. Spencer Trask plans on taking the assets and rolling them into VenCorps, a Cambrian House project that was exhibiting as the Canadian Innovation Exchange in Toronto two weeks ago. Vencorps community builder Will Pate was holding down the booth and did a great job demoing how they're going to apply the crowdsourcing concept to venture capital.
Launched in 2006, Cambrian House began as a crowdsourcing community using a wisdom of crowds based approach to discover new business and technology ideas. Today, Cambrian House equips other enterprises to adopt open innovation using its Chaordix™ crowdsourcing platform. Chaordix is the global standard in crowdsourced market intelligence. Chaordix uses the power of crowdsourcing to help the world's leading... more