IpVenture Announces Sale of Webvan Patent Portfolio
Webvan's ground-breaking patent portfolio prevails over the demise of its company
LOS ALTOS, Calif., Oct. 29, 2014 /PRNewswire/ -- IpVenture, Inc., a patent development and monetization firm, announced today that it has sold the Webvan patent portfolio for an undisclosed sum to a global conglomerate based in Asia.
DIAMOND IN THE ROUGH
When founded in 1999 during the height of the dot-com bubble, Webvan grew at lightning speed, receiving significant amounts of capital from some of the world's most prominent venture capital firms. However, the company's early infrastructure expenses—including a slew of cutting-edge grocery warehouses—outpaced its revenues. This ambitious expansion led to the liquidation of the company less than two years after its founding.
Despite the company's collapse, the patent portfolio persisted as a valuable contribution to eCommerce. Webvan, a company well ahead of its time, truly pioneered web-based eCommerce, particularly in the area of product delivery. The subsequent development of AmazonFresh, Google Shopping Express, Walmart To Go, and other similar services make a compelling case that Webvan had a promising idea, and that the marketplace Webvan predicted in the 1990s is coming to fruition.
IPVENTURE BUILT WEBVAN PORTFOLIO FROM ONE TO THIRTY-ONE PATENTS
IpVenture, Inc. is a company experienced in developing and monetizing patents. The IpVenture team recognized the value and potential of the Webvan patent portfolio and acquired it in 2004. For the past decade, IpVenture has meticulously built up the portfolio from one patent to thirty-one patents which encompass every major aspect of web-based eCommerce used today.
ABOUT IPVENTURE
IpVenture develops and monetizes patents that cover impactful technologies. We partner with independent innovators, start-ups, and entrepreneurial businesses to articulate, expand and tailor their technological ideas into cutting-edge patent portfolios. IpVenture then licenses or sells the patent portfolios to established corporations, including global conglomerates, in need of strategic intellectual property. This helps provide our partners with an alternative revenue source, without disrupting their focus on bringing products to market. Additionally, corporations that acquire or license our portfolios benefit by enhancing their intellectual property position, decreasing development time, and increasing bottom-line profits.
SOURCE IpVenture, Inc.
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