October 26, 2007 at 9:24 pmThe story of how to sell one project several times and weld $ 150,000,000.
CNet has announced the sale of the Webshots photo site to American Greetings Corp for $ 45,000,000.
The project has a very funny story.
Its founder Narendra Rocheroll and his business partners during the dot-com boom in 1999 sold ExciteAtHome's website for $ 82,500,000.
In 2002, ExciteAtHome went out of business and Narendra Rocheroll with partners bought the project back for $ 2,400,000.
And ...
And again they sold it in 2004 to CNet for $ 70,000,000.
Here is such an amazing story how to sell one site 2 times and weld $ 150,000,000 on it.
After the purchase of the project by CNet, he fell into fierce competition with similar projects, for example Flickr (Yahoo Inc).
The financial results of the project were depressing - over the past 3 months, losses amounted to $ 16.600,000 (against $ 2,300,000 loss over the same time a year ago).
I think Narendra is already preparing for negotiations with American Greetings Corp.
After all, as they say: "God loves the trinity." :)
The project has a very funny story.
Its founder Narendra Rocheroll and his business partners during the dot-com boom in 1999 sold ExciteAtHome's website for $ 82,500,000.
In 2002, ExciteAtHome went out of business and Narendra Rocheroll with partners bought the project back for $ 2,400,000.
And ...
And again they sold it in 2004 to CNet for $ 70,000,000.
Here is such an amazing story how to sell one site 2 times and weld $ 150,000,000 on it.
After the purchase of the project by CNet, he fell into fierce competition with similar projects, for example Flickr (Yahoo Inc).
The financial results of the project were depressing - over the past 3 months, losses amounted to $ 16.600,000 (against $ 2,300,000 loss over the same time a year ago).
I think Narendra is already preparing for negotiations with American Greetings Corp.
After all, as they say: "God loves the trinity." :)