Comments on: Update: Classmates IPO is Pulled http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/ Startup and Technology News Sun, 07 Sep 2008 15:03:56 +0000 http://wordpress.org/?v=2.5.1 By:   Update: Classmates IPO is Pulled — IRA 401k http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-2036872   Update: Classmates IPO is Pulled — IRA 401k Fri, 14 Mar 2008 06:10:47 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-2036872 [...] Shyam wrote an interesting post today onHere’s a quick excerptWith 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. … [...] [...] Shyam wrote an interesting post today onHere’s a quick excerptWith 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. … [...]

]]> By: Cooking.com Takes Out A $7 Million Loan http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1895838 Cooking.com Takes Out A $7 Million Loan Wed, 02 Jan 2008 19:09:09 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1895838 [...] Whenever I see a venture debt deal, I wonder why the company couldn’t get regular venture capital or find another source of funding. Did they get a better deal through the bank loan or could they not find any other takers? With a “startup” this long in the tooth, I suspect it is the latter. I am not familiar with the specifics of this deal, but it is common for venture debt to be structured as a convertible loan, meaning that the lender can convert the loan into stock at some point in the future. [I didn’t get this quite right, see update below]. Sometimes these are treated as bridge loans with the hopes that an IPO will make converting the loan worthwhile. If Cooking.com is indeed considering the IPO route (again, pure speculation here), it would be well-advised to radically reinvent itself first. The public markets are not too receptive to Web 1.0 retreads right now (see Classmates.com’s flubbed IPO attempt). [...] [...] Whenever I see a venture debt deal, I wonder why the company couldn’t get regular venture capital or find another source of funding. Did they get a better deal through the bank loan or could they not find any other takers? With a “startup” this long in the tooth, I suspect it is the latter. I am not familiar with the specifics of this deal, but it is common for venture debt to be structured as a convertible loan, meaning that the lender can convert the loan into stock at some point in the future. [I didn’t get this quite right, see update below]. Sometimes these are treated as bridge loans with the hopes that an IPO will make converting the loan worthwhile. If Cooking.com is indeed considering the IPO route (again, pure speculation here), it would be well-advised to radically reinvent itself first. The public markets are not too receptive to Web 1.0 retreads right now (see Classmates.com’s flubbed IPO attempt). [...]

]]> By: JamiePA http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1888183 JamiePA Sun, 30 Dec 2007 16:40:28 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1888183 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. 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.

]]> By: Joe http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1840996 Joe Fri, 14 Dec 2007 19:48:07 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1840996 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 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.

]]> By: Steve Ballmer http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836830 Steve Ballmer Thu, 13 Dec 2007 02:22:32 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836830 Hellooooo, deadpool! Hellooooo, deadpool!

]]> By: Jon http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836697 Jon Thu, 13 Dec 2007 01:29:13 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836697 Let's guess, the easier method is simply to search for the founders facebook profile ;-) That's why I DON'T have one. Jon Let’s guess, the easier method is simply to search for the founders facebook profile ;-) That’s why I DON’T have one.

Jon

]]> By: Let's guess. http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836379 Let's guess. Wed, 12 Dec 2007 22:28:46 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836379 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. 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.

]]> By: Classmate I told you. You didn't listen http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836334 Classmate I told you. You didn't listen Wed, 12 Dec 2007 22:02:16 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836334 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!!! 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!!!

]]> By: Alex http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836319 Alex Wed, 12 Dec 2007 21:55:53 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836319 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!!!! 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!!!!

]]> By: EH http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836289 EH Wed, 12 Dec 2007 21:39:41 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836289 There user storiez are FAIL, who knew they had the social graph of a phone book? Chalk one up for due diligence. There user storiez are FAIL, who knew they had the social graph of a phone book? Chalk one up for due diligence.

]]> By: Deals and Coupons http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836255 Deals and Coupons Wed, 12 Dec 2007 21:17:37 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836255 Too bad! Too bad!

]]> By: Richard http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836254 Richard Wed, 12 Dec 2007 21:15:22 +0000 http://www.techcrunch.com/2007/12/12/update-classmates-ipo-is-pulled/#comment-1836254 Now New from Classmates.com, pay to find out where you highschool ex lives.. Now New from Classmates.com, pay to find out where you highschool ex lives..

]]>