With the IPO market cooling, United Online has pulled the IPO of its Classmates.com business. No surprise here. I thought the filing smelled funny from the get-go. Nobody else was buying Classmate’s story either. Let’s see, a high churn rate, an FTC investigation, and hints of self-dealing. No wonder investors passed.
How is United Online going to get back that $50 million it “loaned” to its subsidiary now?
Now New from Classmates.com, pay to find out where you highschool ex lives..
Too bad!
There user storiez are FAIL, who knew they had the social graph of a phone book? Chalk one up for due diligence.
Amazing that they do the revenue they claim. Then again its not difficult to obtain such milestones if you have millions of users and you run a criminal organization when it comes to credit card fraud. Yes, I hate them for charging me $40 after I told them I didn’t need the service anymore. AND like a piece of garbage company they said it was in the terms and conditions………. A**HOLES!!!!
I told you…. My visionary is correct.
There is no way Classmates will get into IPO. People didn’t give you rights to use picture, names, school records without bill of the rights premission.
1.) Pedophiles
2.) Teacher raping young students
3.) Teacher’s bullies.
4.) Teacher’s pets.
5.) Evolution & Creation school conflict of interest
6.) Some teachers are born racist ideology
7.) Shoot out & Rampage target list
8.) School fightes & bullies.
9.) Idenity theives
10.) Telemarketing so you can help student lose their jobs.
Classmate… Get off people’s back and stay out people’s privacy!!!
How is United Online going to get back that $50 million it “loaned” to its subsidiary now?
I think United Online should… maybe… Uhm…
Take founder of Classmate to hooker bar and get him drunk.
Let’s guess, the easier method is simply to search for the founders facebook profile
That’s why I DON’T have one.
Jon
Hellooooo, deadpool!
Classmates is such an example of missed opportunity. Even today, if they were to turn it into a true social networking site (i.e., FREE), they’d have a good shot at capturing a lot of market/traffic/ad revenue. Facebook has only started getting the 30+ crowd, yet almost all of those people have at one time or another registered on Classmates (only to find out it was a cheesy pay-for-access site).
If they opened it all up today, tomorrow they’d see an amazing traffic spike as everyone went on to actually get the info on their long-lost high school friends, etc. People would probably start filling in profile info, etc…. snowball into a facebook-for-the-email-generation site.
Maybe, maybe not… but their current model has proven to be a failure. People won’t pay money just to check up on their old friends’ whereabouts, etc.
Classmates.com is a total scam, and I rue the day that my perfectly good high school alumni website was hijacked by these pirates. Get this: on two occasions, I was “contacted” on Classmates.com by classmates who supposedly wanted to get in touch with me. Thing is, I know for sure that both had died many years ago. Either this extends the reach of cyberspace into the spirit realm, or someone’s trying to pull a fast one. You decide.