ArmChairGM, a sports wiki site we profiled about six months ago (June 2006) will reportedly be acquired by Wikia, a Jimmy Wales community wiki site for $2 million. Both Wikia and ArmChairGM leverage the MediaWiki, a free software wiki package originally written for Wikipedia.
Is a wiki site worth $2 million? This reported acquisition could validate the worth of user generated content. Alternatively, Wikia could be looking to ArmChairGM for the founders' talents to help build up the collection of Wikia communities. Congrats to ArmChairGM co-founder Aaron Wright and company on their success.
Bottom-line: ArmChairGM is a niche wiki site built on a free wiki platform reportedly set to be acquired for $2 million. In the open and free world of web 2.o product developers do not have to reinvent the wheel to be considered valuable.