
CBS forks out $5 million big ones for Wallstrip according to reports from
jossip. Wallstrip is a humorous take on Wall Street and sustained an original investment of 500K from Union Square Ventures (
Fred Wilson). One has to wonder as
Techcrunch poignantly mentions why would CBS pay so much dough for a company that makes absolutely zip in revenue. Do you think CBS is getting caught up in the online media frenzy of M&As currently happening in the web 2.0 space?
On the other hand it may be too early to throw CBS under the bus. They obviously have a road map (one would hope) for this web property. At least it sets a precedent on valuation for entrepreneurs like us. A zero revenue generating web property targeting a very niche market can go for 5 Mill. Sounds good to me.