Mendeley to be sold for $100M to Elsevier?

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As a Docear user you probably did some research before you decided to use Docear and maybe you stumbled upon the reference manager Mendeley. Mendeley definitely has some nice features and made it to one of the top reference management tools in the past few years (besides the fact that they don’t use mind maps for literature management, the main reason I wouldn’t use Mendeley is the fact that they store the annotations you make in PDFs in a proprietary format — this locks you in to Mendeley and makes it really hard/impossible to switch to another tool). Two days ago Techcrunch reported that the well known publisher Elsevier takes an interest in buying Mendeley for presumably 100.000.000 US$. That’s right: 100 Million US$. Considering that Mendeley is supposed to have 2 Million users that would be 50$ per user (and I don’t know if the 2 Million users are really active users). As far as I remember, the shareholders of Facebook payed about 100 Dollars per user when Facebook shares were first available at the stock market. Not bad :-).

What do you think? Is Mendeley worth 100 Million Dollar? Is it a smart move from Elsevier to buy Mendeley? And what are the consequences for Mendeley’s users since Elsevier is known for a very harsh publishing policy which lead to a boycott of Elsevier and lots of criticism by many academics).

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