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... [more]
Rob Lewis
Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.
His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University.
When not blogging on...[more]
