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Do They Make A Card That Says, "Look, We're Making Money Now"?
from the click-here-to-read dept
One of the most visible signs of the dot-com bubble was the $780 million buyout of e-card site Blue Mountain Arts by Excite@home in 1999. Just why anybody would pay nearly $1 billion for an e-cards site with no real business plan wasn't clear, and as part of its spectacular implosion, Excite dumped the property less than two years later for $35 million. But The New York Times reports that the online card industry is going through a resurgence, generating profits either through advertising or from subscription models. AmericanGreetings.com -- formed from the purchase of Blue Mountain Arts -- says it has 2.4 million subscribers at $14 per year, while a five-person company from the UK says it's got 527,000 paying about $8 yearly. Those are decent revenues, generating healthly profits, the companies say -- but certainly won't ever justify the dot-com-era prices.
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$780 Million? Holy shit. I used to love excites VP client when I was a kid but they scrapped that when there were alot of people on that yet would pay that much for E-Cards? they could have spent 1/5 that and just made their own from scratch. Not like there were profits behind that company at the time to justify the buy.
wow and double wow for that
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i love you too
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