|
|
|
|
|
|
by jstevens85
5860 days ago
|
|
|
non-profitability >One person with knowledge of the deal, but who was not authorized to discuss it, said that the negotiations originated when Lala executives concluded that their prospects for turning a profit in the short term were dim and initiated discussions with Eddy Cue, Apple’s vice president in charge of iTunes. http://www.nytimes.com/2009/12/05/technology/companies/05app... Lala started at least five years ago. They received $35 million in venture capital. They were bought by Apple for $17 million. They had $14 million in cash. The effective price was $3 million. They were burning through $500,000 a month. I think it's pretty safe to say that now a team has explored this dark cave and found a gigantic killer bear, no one else will be stupid enough to follow. If they do, I don't know if they'll find too many VCs who want to throw away their money. http://techcrunch.com/2009/12/07/lala-was-bought-by-apple-fo... |
|
|