Want Proof That VoIP Is Hot?

from the they'll-give-money-to-anyone dept

Last year we mentioned that what was left of TheGlobe.com - the perfect example of dot com ridiculousness - had been turned into a VoIP company - complete with its old excessive hype trick of claiming to be something they weren't (the "first" in the space). At the time, we pointed out that this was an example that the bubble was back, but we were wrong. To make it official, such a company would need to raise money - and now they have. News.com is reporting that VoiceGlo (formerly TheGlobe.com) has raised $28 million for their softphone VoIP service. To be honest, I'm still confused why the people associated with such a disgraced company would want to keep that corporate shell instead of just starting a new company without all that baggage. Anyway, if TheGlobe.com can raise nearly $30 million to be a me-too VoIP play, then you know that some sort of bubble is happening again.

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  • identicon
    Anonymous Coward, 10 Mar 2004 @ 9:21am

    they keep the shell...

    ..because it's the easiest way to get the fast-capital benefits of a publicly traded stock.

    reply to this | link to this | view in chronology ]

    • icon
      Mike (profile), 10 Mar 2004 @ 9:44am

      Re: they keep the shell...

      well, obviously... but is that worth the baggage? I'm not so sure. Besides, this investment appears to be private equity, so they didn't do that anyway.

      reply to this | link to this | view in chronology ]


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