Never Profitable Dot Com Goes Public
from the not-so-much-hype dept
Remember the days when dot coms with no history of ever earning a profit could go public? Oh wait. That's today. Traffic.com, a company that's been around for many years, but has yet to turn a profit went public today, though without much fanfare. It used WR Hambrecht's dutch auction method -- a method that Google used, but which still hasn't really caught on. Of course, the fact that the company has a dot com in its name really seems more a function of when it was founded, rather than a real "dot com" style business model. It's real business is providing traffic info to other media, such as radio and television stations -- which is a space with a fair number of competitors. Either way, for years we kept hearing how, after the bubble burst, no companies could go public without first showing solid evidence of profits. Apparently that standard is going away.