Source:Valleywag
In a shareholders’ conference call yesterday, Pay By Touch CFO Robert Sigler told investors the company plans to raise $150 million in 2008. This after Pay By Touch management has already burned through over $300 million since its founding and cost some 250 jobs just this fall. Tell you what, I hope Sigler and returning COO Eula Adams find their investors. Beause whoever they are, maybe I can find something to sell them, too. (Photo of the Brooklyn Bridge by absolutwade)
Source:Valleywag
AOL CEO Randy Falco is a lot like Santa Claus, really. Why, he’s downright jolly when laying people off, and he has an uncanny ability to fly whenever and whereever he wants. So who better to pen a year-end missive to rally the elves? Here’s that letter, conveniently downsized to just 100 words.
It’s over a year since I came to AOL. When I arrived it needed work. More than I expected. Pageviews were in decline. Products were behind and underinvested. Advertising needed investment. I needed to rebuild AOL. Let me highlight progress. We upgraded products. We’ve refreshed programming. Everything was trending downward on AOL Search; changes have turned these trends around. Internationally, there’s upside for AOL. Our ad network reaches 9 in 10 Web users in the U.S. We invested $800 million on advertising. Cutting costs and laying off people is about resource allocation and being smart. I feel really good. I’m making progress. Happy holiday.
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on Tuesday, December 18th, 2007 at 2:38 pm and is filed under AOL, randy falco, 100-word-version.
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