Buy.com strikes again

Politics and religion
1

Look, I’m all for capitalism but Buy.com is going to do another “IPO!” (Why they’re not calling it an “SPO” I don’t understand.

Story here

In February 2000–just as the dot-com bubble was starting to burst–the company raised $182 million through an IPO in which it sold 14 million shares at $13 per share. But after Buy.com failed to post a profitable quarter as a public enterprise, company founder Scott Blum bought back control of the firm for $23.6 million, or 17 cents per share, in November 2001.

Fool me once, shame on you, fool me twice, shame on me.

:roll:

2

So… why is this in P&R?

3

Mostly because I didn’t want to get yelled at. Should it be in EE? Not games certainly.

:(

4

Wow, I wish I made out like Blum. Fleece the public, buy back at rock bottom prices, keep the operation afloat with the money you raised and then re-sell once the market bounces back.

Genius.

Though he should’ve waited a year IMO.