Topix: $5 mil or $50 mil?

Jeff Clavier fisks the Topix numbers and comes up with some theories. He writes :”There are enough whispers of the return of a bubble in the RSS/new media world to try and figure out whether this was a $5M or a $50M deal (see, I am not the only one wondering). And then quotes Bambi Francisco saying that Topic was valued between $50 and $100 million. Jeff writes:
“So we have confirmation that a large part of the consideration went to the shareholders of the company – allowing them to partially cash out, and a small portion went to the bank as operating cashflow. Great deal (somewhat similar to the MySpace financing where the original owner partially cashed out, and the co got some cash). Back to the original feeling of delight for these guys, etc.

However the valuation seems… rich.”

I spoke with someone last night who has another emerging tech company who was thrilled about this deal…it makes his company, like the others on Rafat Ali’s best bets for buyouts list, seem all the more valuable.