Online Video Platform Co. Open Box Technologies Selling Itself via an eBay Auction
TROY, N.Y., Feb. 17 /PRNewswire/ — Open Box Technologies, Inc. (OBT) today announced that it is selling itself, including its SesameVault product via a public eBay auction. SesameVault (http://sesamevault.com) is an online video platform used by small- and medium-sized businesses to store, manage, and publish video to the web and mobile devices.
The decision to put OBT up for sale came about as the result of the company’s recent inability to raise investment adequate to support its plans and objectives going forward. A public eBay auction was chosen as the sale vehicle to allow for the participation of the widest possible range of potential acquirers.
COMPANY FACTS
- Founded: OBT was founded in 2005 by Cameron Brain, its CEO
- Funding: OBT raised a total of ~$2.5M from a small group of professional angel investors
- Milestones: SesameVault v1.0 launched in December ‘07, SesameVault v2.0 launched in April ‘09
- Customers: SesameVault has over 100 paying customers
- Usage: SesameVault customers stream a total of more than 1M videos each month
AUCTION DETAILS
The OBT eBay auction went live Wednesday, February 17th at 9:01am EST. It will run for seven days, ending Wednesday, February 24th at 9:01am EST. Bidding started at $500K and a reserve has been set. All OBT assets are included in the auction. The big items include:
- Product: The SesameVault website, application, and platform
- Customers: All SesameVault customers and users
- Intellectual Property Rights: Three patents covering SesameVault and it’s commercial applications
- Production Infrastructure: Servers, storage devices, and networking equipment responsible for powering the SesameVault product
- Development Infrastructure: Servers and workstations used for the development of the SesameVault product
- Office Infrastructure: Fixtures and furnishings, including a killer ping-pong table
“I founded OBT in 2005 with the vision of providing small businesses with the tools they need to leverage video on the web. Our team has spent the last four and a half years turning that vision into reality; building a fantastic product and a good book of business on significantly less capital than other competitors in the online video platform market,” said OBT CEO, Cameron Brain. “That said, we believe we have brought our business as far as we can – in order to continue operations and take it to the next level, SesameVault needs to be taken under the wing of a company that has the resources to support it.”
MORE INFO
Founded in 2005, Open Box Technologies Inc. is the provider of the SesameVault online video platform. Small- and medium-sized businesses and organizations use SesameVault to store, manage, and publish video content to the web and mobile devices.
- For more information on SesameVault: http://sesamevault.com
- For more information on the eBay auction: http://shop.ebay.com/160405185640
- If you are a member of the press, please email sale@sesamevault.com
SOURCE Open Box Technologies, Inc.
