GameStop Swoops In To Buy ThinkGeek For $140 Million
Lirodon writes: Remember a few days ago, when Slashdot's former parent company was the subject of a $122 million takeover bid by Hot Topic? Well, another geeky retailer entered the fray in the battle for ThinkGeek, and won. GameStop will be acquiring Geeknet for $140 million. The video game retailer has promised synergies, such as in-store pickup and integration with its rewards program.
haven't been to one since they did a closure sale and I was able to pick up a bunch of Kinects for $20 each. Now if they could also buy Radio Shack...
Liberty - Security - Laziness - Pick any two.
Game Stop sucks. How are they even still in business?
I think it's a better buyer, personally. Hot Topic just seemed like an organization that would not appreciate all of the little, goofy, technical-fun bits of TG that I like. GameStop is closer, I think, to knowing the TG target customer.
.. pa-ra-bo-la, pa-ra-bo-la, 2 pi R, 2 pi R, where's your latus rectum, where's your latus rectum, 2 pi R
I'll take two.
I think this is a good move. Gamestop can certainly use the power that thinkgeek has. Last year I redeemed some points that I earned from Gamestop to purchase something from their rewards store. Most of the things there are stupid Nintendo lanyards or bracelets - completely useless and hardly noteworthy. I opted for a Skyrim Daedric sword letter opener. It was cool, but badly made. If they offered a coupon for something in thinkgeek's catalog, I would have been much happier.
"The video game retailer has promised synergies, such as in-store pickup..."
Uh, in-store pickup?
You already paid for that massive chain of brick and mortar locations you run already.
Please tell me you're not going to forget that store is an actual store and offer a bit more than just pick-up service for what is now your own product.
Any time companies justify mergers and acquisitions with "synergies" the bullshit detector goes off. Yes, Hot Topic and GameStop are both retail outlets sometimes found in malls. I suppose that they are planning a buy out of the ice rinks, Orange Julius, and those shitty fast-food Chinese places.
buying/selling used PC games more than 10 years ago. This might be good for them but will definitely be bad for Thinkgeek which has been coming up with some of their own products some of which are quite good (I'm not affiliated with them in any way but g/f has told me that the LeVar Burton Star Trek TNG/Reading Rainbow joke t-shirt I got her has gotten her more compliments than anything else and that was/is an exclusive).
Their prices are high but they do have some cool stuff. I wonder how badly GameStop will ruin them. Sad to see.
May mean we can buy from physical locations now... and possibly cheaper shipping costs in Canada.
I'd be happy if Dice made money on slashdot selling it to someone who won't feel they have to make all kinds of community-hated changes.
At least Hot Topic owning ThinkGeek was amusing. GameStop owning them is disgusting, and ensures that I won't be purchasing anything from ThinkGeek anymore.
They're probably looking at competing against other eTailers and minimizing floorspace (similar to BestBuy) by allowing such items to be ordered in-store. Hopefully they keep some of the new/popular stuff in stock though and don't underestimate the power of a shiny toy at eye-height.
Everybody seems to think this is a bad idea. However, I think it's awesome. There are gamestops everywhere around my house. Probably 5 within 10 miles in any direction. Imagine if those places carried more than used games and consoles. Imagine for a moment that they also carry the same cool stuff that you would normally want to buy, but the shipping costs might have turned you away.
Personally, I think this is great news. My T-shirt collection will probably double in size over the next year.
Can't wait to see how these "synergies" torpedo thinkgeek.
Of course we'll act shocked that it ruins thinkgeek.
Mod me down with all of your hatred and your journey towards the dark side will be complete!
I love that stuff. Blue reminds me of a shirley temple. Been a shame since all my local gas stations and stores stopped carrying it. Just too expensive to order it from ThinkGeek and can never get myself to throw down on a case of it off of Amazon. I liked the mints with carbonation too, was pretty cool to drop a few into the bottle.
Did Gamestop pre-order geeknet?
Will I now need to pre-order things on ThinkGeek, or not get them at all?
Inquiring minds want to know!
Every time I hear the name of the store Hot Topic, Jim Gaffigan comedy routines start running through my head.
Our Coast-to-Coast Mall-Resident $10-Used-Game-Bin-Hosting Near-Overlords.
*I have a "Fhloston Paradise" t-shirt, and alas, no one ever recognizes the reference.
Something to do with boron...
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