Anyone want to buy $45 million worth of visual search patents and other intellectual property? That’s about how much venture capital went into visual search engine SearchMe, which closed down in July and was looking for a buyer. It looks like that search was not successful, and now it is offering to sell its portfolio of intellectual property, in whole or in part, to the highest bidder.
In an offering document which is now available on the site (and embedded below), SearchMe’s senior secured lender, Lighthouse Capital Partners, is looking to get whatever it can from the sale of the search startup’s IP. From the document:
Lighthouse is seeking a buyer for the SearchMe’s Assets, in whole or in part. Interested parties may bid on all or any part of SearchMe’s brand name, core technology, front-end user interface, or back-end search and advertising architecture, enabling the purchaser to leverage SearchMe’s brand name, core technology, front-end user interface, and/or back-end architecture, to establish an Internet search engine with a visual approach, to enhance the user interface of an existing search engine, to leverage the potential relevancy improvements.
So what exactly is for sale? SearchMe’s visual search user interface, search relevance algorithm, a total of 23 patent applications, its brand and trademarks, thumbnail server, visual advertising technology, and more.