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A Profitable Dot Com?
from the really? dept
A NY Times article about how eUniverse is a profitable dot com run by a scrappy young entrepreneur without much investment. The details of the story are a little sketchy, and it really sounds like he has moved from one scam to the next to keep bringing in more money. Anyone who plans to open a site to sell ink toner cartridges (the subject of so many spam messages) has to be questionable in my book. This is a guy who opened up an "investment" bank in his dorm room and through unsolicited pitches convinced companies to hire him to raise money for them. While I admire the resourcefulness, he hasn't done much to build any sort of sustainable business, and instead relies on his ability to be one step ahead of where the money might be. So far, he's been very good at it, but sooner or later those things have a way of catching up.
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Profitable?
Total net income for 2001: $-41 million. Note the minus sign. By whose definition is this profitable?
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Re: Profitable?
That would be the NY Times definition, apparently.
Though, actually, the -$41 million is for the financial year that ended in March (so really it's from 2000). The financials I see show that in the last two quarters, they did officially eke out minimal profits (not that I believe financial statements...)
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