HP Reportedly Sought $1.2 Billion for Palm and webOS
It gets better (worse?). According to new information obtained by VentureBeat, the reason HP couldn't find a suitor for Palm is because its asking price was simply too high. Inexplicably, HP was asking $1.2 billion for Palm, the exact same price it paid one year ago before bungling the acquisition, and then somehow expecting not to take a loss after the whole TouchPad fiasco. Was HP really oblivious to Palm's lost value?
Credit: ABC Corp.
"At one point, HP’s team tried to pitch the sale to Facebook but was practically laughed out of the room," VentureBeat reports.
HP might have lowered its price after failing to find a suitor willing to bail them out for $1.2 billion, but realistically, Palm would probably have be offered at half the price HP paid for it, if not less. Chalk it up to just another silly decision by HP during a year the company would like to forget.