Thursday, May 26, 2011

PBN Sells Out!

Okay, maybe not or maybe they did that a long time ago--depending on your point of view--but you gotta admit it's a catchy title. (Did I mention the kids at ProPaintball have been doing good work lately? I didn't? Well, they have. Check out the PBN news here.) And while I'm at it the title is a link to the PBN news thread announcing the sale. (But you already know all this right?)
Here's an item or two you may not know. The Crowdgather folks have some detractors. (Right here!) And if you like legalese you can read all the down and dirty details of the deal right here.
(Link opens a pdf file.)
Now I'll be the first to admit I don't know how this dealio is gonna shake out but it appears that Crowdgather has so far only demonstrated an ability to lose (or spend) other people's (investors, one presumes) money. And if it is to be believed it appears Crowdgather isn't in the habit of dishing out real dollars for their past acquisitions so let's hope the cash is actual greenbacks (while they still retain some actual value.) Mostly I find these kind of paintball stories curiosities more than anything else but I do wonder what will become of the employees in the long run. And wasn't it Ed's kid who had the original idea for PBN? Is anybody cutting him a check? Curious (and idle) minds want to know. Sorta.


Don Saavedra said...

Reading internet hype makes my skin crawl.

I'm happy for Ed, et. al., though. They really built something there, and I know they are all proud.

Bonzai Bob said...

I wouldn't read too much into that detractor's link. He's just tring to sell his investment DVDs. "OMG, this guy is evil! Buy my DVDs to find out why!"

me said...

What's funny is reading the crowd gather CEO write how he thinks forums can be a replacement for facebook. Unfortunately forums are so 2000...Facebook, etc not only is devouring more of the consumers time, but it is relatively free for business to reach tens of thousands of customers there on a one to one basis. Ed probably saw the writing on the wall as his traffic numbers have plummeted and cashed out while he could. My prediction is one year from now pbn will be half as big.

Reiner Schafer said...

Who knew letting a bunch of pre-pubescent teens run rampant on a forum could pay off so handsomely. ;) And here I was working for a living. Dumb me!

Gary Baum from the Banned Photo Site said...

Wow does this mean I might actually get un-banned on PbNation??!! Now what am I going to do with all of the *******************.com stickers. Hmm... now I may have to really do something bad to get banned

Anonymous said... seems there's no shake up coming. Boo.