Kiko – online calendar app built on Ruby on Rails founded by 2 young entrepreneurs was sold on ebay for $253K USD. This is a much better result than the base price of $50k. Apparently the founders have already received funding for the next ‘big’ idea that they just couldn’t wait.

Some lessons learnt:
– Richard White’s experience
– Paul Graham – the Y Cominbator
– Don Dodge’s take

Update:
– Tucos just explained why they bought kiko – integrate calendar to existing email app.