The blogging CEO, Alan Meckler of JupiterMedia, reports that he and his team are suddenly being inundated with potential Internet deals. Alan thinks it may be that entrepreneurs are panicking, as the mortgage industry collapses and the economy appears to be taking a turn for the worse:
Internet deals abound. Since we purchased Mediabistro in July we have been offered an amazing number of Internet properties. Obviously the Mediabistro is responsible for some of these offers, but there must be something more about the level of activity. I think the mortgage mess might be part of the equation. My reasoning is that many entrepreneurs might be panicking. Perhaps they reason that all types of funding might be curtailed due to the credit crunch enveloping America? So perhaps this is the time to sell rather than hunt around for more funding for expansion?
If entrepreneurs are indeed concluding that now is a good time to sell, we agree with them. (Actually, last month would have been a better). Everything is cyclical, and we think we’ve recently passed the peak of this one.