Comment Complete waste of money (Score 2, Interesting) 25
I find it incredulous that they would throw money on the purchase of something such as this, given the fact their projected Q3 income for 2009 is just $400,000 with a staff of 75+ - Either they're paying ~$6000/year salaries, or just wasting the venture capital dollars they have on things which really can't improve the bottom line or resolve major issues their users truly have with their site.
Of course, they project $4 mil in sustained incoming for Q4 2009 and up to perhaps $1.5 billion by 2013 if you believe their estimates, though I have a hard time accepting that - Especially in a down economy like this which doesn't look to recover back to it's former pace for at least another year or two. Quite frankly, this has 1999 dot-com bust written all over it, complete complete with the ridiculous hype, overpriced acquisitions and no defined strategy for how to actually make money.
All we need now is an IPO