Executives abandon plans to auction mobile media startup on eBay

A startup focused on mobile media sharing has aborted plans to auction itself off after receiving zero bids on eBay.
Mojungle.com allows users to record text messages, photos and videos with their mobile phones and post them to the company’s site, a MySpace profile or anywhere else on the Internet. The company reportedly hoped to get an offer of $250,000, but its eBay listing was pulled last month after it failed to secure a $60,000 opening bid.
“The decision to sell Mojungle was a difficult one,” executives posted on the eBay listing before the auction was pulled. “We’ve encountered unanticipated and growing personal and business obligations not allowing us to make the full time commitment needed to build Mojungle into the strong brand we know it can be.”
Representatives from the three-person startup were not available to comment on the move to scratch the auction.
While Mojungle executives reportedly remain optimistic about selling the company’s technology and brand, the apparent lack of interest underscores both the crowded playing field and the uncertain business models of the wireless user-generated content space. A host of video-capable media-sharing companies are already working to get traction, while photo-sharing and community-building applications and businesses continue to vie for the attention of wireless users.