Wasabi Ventures Announces Sale of Portfolio Company IdeaOffer

After incubating IdeaOffer and building the business internally to its current state, Wasabi Ventures is pleased to announce its sale. End Quote

(1888PressRelease) September 01, 2011 - Wasabi Ventures, LLC (http://wasabiventures.com/), a venture capital group, startup incubator, and consulting firm, today announced the sale of IdeaOffer (http://www.ideaoffer.com/), the crowd-sourced innovation platform for everyone. Wasabi Ventures incubated IdeaOffer based on an internally-developed concept, and built up the business prior to acquisition.

"We follow a model based on lean innovation," said Tom Kuegler, General Partner of Wasabi Ventures. "We want to bring concepts to market quickly, and either spin-off, sell, or shut them down -- based on the reaction of the market."

IdeaOffer, the brainchild of two Wasabi Ventures developers, allows users to solicit ideas and feedback from the internet community by offering a financial incentive to the best and most innovative response. The site has over 1,700 registered users.

"I share with everyone in the excitement about the future of IdeaOffer under its new ownership and management," said IdeaOffer founder, Dan Cummins. "The IdeaOffer user base is creative, loyal, and deserving of participation in the future of a fantastically-rewarding idea community. My sincere hope is that the groundwork we have laid thus far will serve the users and the new management team well as they propel the site to new heights."

Other Wasabi Ventures concepts that are still an active part of the incubator include TestSoup, a leading provider of mobile test preparation solutions, and Wasabi Media Group, one of the fastest growing media companies on the internet.

Relevant Links
The latest Wasabi Ventures News: http://wasabiventures.com/latest/
Wasabi Ventures current portfolio: http://wasabiventures.com/portfolio/
Get in touch with WasabiVentures: http://wasabiventures.com/contact-us/

About Wasabi Ventures
Wasabi Ventures is a different kind of venture capital firm made up of three distinct, but connected aspects: Venture Capital, Startup Incubation, and Consulting. In other words: we fund entrepreneurs, we start companies, and we help existing businesses succeed. If you have a business plan you would like to submit to us for review or you are interested in speaking to one of our partners about how Wasabi Ventures may help your company, please send us a message: http://wasabiventures.com/contact-us/

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