Pilot Group backed this. Pilot Group also backed and sold off DailyCandy to Comcast for $125 mil. Disney shut down Ideal Bite shortly after the acquisition.
Was there ever really value in this company?
I will say yes, but getting that payday is tied more to who you know--Pilot--than what you do.
They merged it with their family.com's go green section so they have 500k subscribers with 4k+ people coming in each month, so not really a bad deal.