PayPerPost backs out
Mike Arrington posts that the Performancing Metrics deal is off:
It’s not often that a company announces the acquisition of another company and then subsequently walks away from the deal, but PayPerPost isn’t a typical kind of company.
In a post on the PayPerPost blog today, the company said “We…dug into the Metrics platform and regretfully found that it wasn’t what we were looking for right now.” That came just a week after the official announcement of the acquisition.
Generally speaking, responsible companies “dig into” the acquisition target before they announce a deal.
Nick Wilson at Performancing puts a slightly different spin on it:
After much discussion, we’ve decided that the deal proposed by PayPerPost just isnt right for us or our community. It’s regrettable that we should part ways as I still feel that Dan and Ted are stand up guys breaking new ground, but in the end, the deal was just not right for them or us.
On his personal blog (which is wonderfully profane, as are his expletive-ridden podcasts), Nick is a little more candid:
It’s a huge relief not to have to lose Performancing.com.
We’ve made our mistakes, now it’s time to crack on…
Chris Garrett, another guy involved in Performancing – though not a shareholder – gives his view, again seeming relieved that the deal is off:
- I am pleased because I don’t think the two communities, Performancing members and PPP members, actually overlap or make as good a fit as PPP assumed they would.
- I’m looking forward to an open source Metrics and I will work on it given time
- For me the best news is that Performancing.com is staying with Nick. We put a lot of work into building the site and community, with a terrific group of members. The Performancing domain and brand is hopefully still a valuable asset
Good news though, rather than find a new buyer (which might be hard now anyway), Performancing Metrics is being opened up to the community and made open source. Cool.
What form it will take will be unknown for a while, but I reckon a small metrics service that each site hosts for itself would be a good route to go down.
Performancing for Firefox will remain ScribeFire – excellent news, it’s a much better name and can give focus to the blog editor as a project in its own right.
Two things come out of this. One is that not only is PayPerPost a crappy idea for a company, it’s a pretty crappily run place if this mess is anything to go by. Second, the breakdown of this deal will be good in the long term for Performancing, Scribefire and the bloggers who will use the future open-source metrics.