An irreverent US website set up to chart the demise of cash strapped internet start-ups has received a $10m (£7m) takeover offer. Fuckedcompany.com - which was founded, owned and run by an industry pundit known as "Pud" - has become the must-visit website for gossip about dot.com failures.

Anyone working in the internet industry is encouraged to post rumours anonymously about what is going on in the industry and each week vote on the five web firms they think most likely to go bust.

Among the 27,950 subscribers to its daily email newsletter are journalists, venture capitalists, entrepreneurs, investment bankers and recruiters keen to keep abreast of the latest gossip. Fuckedcompany.com receives 2.6m page views a week, according to PC Data.

Yesterday Pud, whose real name is Philip Kaplan, put the site up for auction - online, of course. "I was bored this morning so I put FC on eBay," he said, explaining that he had always viewed the venture as a side issue to his other business interests and could not devote time to its development.

Last night the highest bid stood at $3.3m (£2.3m), although according to some reports Pud had been contacted by someone prepared to pay as much as $10m for the site.

Fuckedcompany.com has received glowing endorsements from industry experts. Ken Cassar, senior analyst at renowned internet research firm Jupiter Communications, says he checks the site before making positive comments about any company.

Michael Wolff, author of the seminal Silicon Valley novel Burn Rate, said recently: "I wish I'd though of it".

The site has attracted unspecified advertising and sponsorship revenues. User features include an archive that allows you to search for "all the bad news your little heart desires". Its main rival is dotcomfailures.com, whose motto is "kick 'em while they're down".

The auction ends on September 20.