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coolrunning survey (Read 253 times)

    Also, I won't be greedy.  If I am offered $100 million, I'll sell RA in a heart beat.  I like you guys, but $100 million can buy me new friends.

    I know I'm late, but this is funny.

     

    BTW, I got the survey but haven't responded yet.  I can suggest they buy you out....for a small finder's fee.

      Ah, Coolrunning... I grew up there. Left when the exodus happened and Eric parted the Cyber Sea and welcomed us to the promised land.

       

      If a race had registration on Active, but a choice to mail in a check, I mailed in the check. Never liked paying a fee just to pay my fee. Plus, for awhile there, if you weren't careful, you could end up signing up for Active without realizing it.

       

      Good to be here.

       

      Hope Eric eventually sells out and makes his retirement money. He deserves it.

      (just hope it happens in a few years. I like the way things are right now)

      John
      www.wickedrunningclub.com
      I run to clear my head and talk to my friends.

        Somebody paid $1 billion in cash for Active Networks!? There must be more to Active than a running community.

         

        Well kinda. And yes there was a lot more to Active than running but none of it was very well run or remotely profitable.

         

        Active's financials were a disaster before they got acquired. In their last full year as a public company they had something like $55 million in losses on $270 million in revenue. I'm not sure how much debt they had at the end, but suffice it to say it was approximately a shit ton.

         

        There's paying cash in the way you and I think of it, then there's paying "cash" the way private equity firms do it. Private equity firms don't pay with their own money. They use debt as leverage and take on virtually none of the risk. Basically they "pay off" the target company's debt with more debt that they load on the target's books. Then they either clean it up and sell it at a profit, break it up and sell the parts, or run it into the ground until there's nothing left and they sell off the IP.

         

        Sort of like in the movie Goodfellas when the restaurant owner asks Paulie to become a partner because he can't pay his bills and he's afraid of other gangsters. Then once Paulie is a partner, his guys siphon off all the revenue and sell booze out the back of the restaurant for pure profit until it goes bankrupt. Then they torch the place and collect the insurance.

         

        Except in the case of private equity it's totally legal.

        Runners run.


        I'm back!

          I got 11 copies of the survey request. I thought it was just more Active ineptitude, but then I noticed the email addresses were all different... oops, I guess I did have that many puppets. 


          Prince of Fatness

            Damn I did not get this.  I feel so left out.

            Semi-retired.


            jules2

              I got one it was like a  memory from a distant past and I have no intention of returning there.

               

              on the subject of losses how does Strava afford to allow us to use it free of charge? Are they hoping someone like Apple buys them up?

              Old age is when you move from illegal to prescribed drugs.


              Speculum Wrangler

                I left CoolRunning during the same mass exodus and responded to the survey in basically the same way as Sluggo. 

                Jeanne


                just a simple cat

                  I got one it was like a  memory from a distant past and I have no intention of returning there.

                   

                  on the subject of losses how does Strava afford to allow us to use it free of charge? Are they hoping someone like Apple buys them up?

                   

                  Jules!  Happy New Year! 

                   

                   


                  Prince of Fatness

                    Damn I did not get this.  I feel so left out.

                     

                    I just got the survey over the weekend.  Awesome!

                    Semi-retired.

                        I like you guys, but $100 million can buy me new friends.

                       

                       

                       

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