Regardless of their product, the equation works a bit more like this: Shitty/marginal/great/whocares product + not_a_web_portal +.com = big IPO In their S1, they state with PRIDE that they had sold over 11,000 units... In most industries, that would be called a failed product. They made 3.5million dollars last year - sounds pretty good, right? NO - they LOST 10 million in making it! Another neat example would be TiVo, a company with a multiBILLION dollar valuation on revenues of (ready?) $41,000 last year. Hell, *I* made more than that! Maybe I should consider an IPO...
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Regardless of their product, the equation works a bit more like this: Shitty/marginal/great/whocares product + not_a_web_portal + .com = big IPO In their S1, they state with PRIDE that they had sold over 11,000 units... In most industries, that would be called a failed product. They made 3.5million dollars last year - sounds pretty good, right? NO - they LOST 10 million in making it! Another neat example would be TiVo, a company with a multiBILLION dollar valuation on revenues of (ready?) $41,000 last year. Hell, *I* made more than that! Maybe I should consider an IPO...