Reading Between the Line at News Corp
By jason - up to 2007 (archived) • Jan 29th, 2007 • Category: News for Creatives (archives)paidContent reports: “News Corp is buying about 10 percent in online video syndication firm Roo Group“. Which is nothing out of the ordinary, a big firm buying a piece of a smaller firm who has assets that support the goals of the larger firm. The most interesting part of this reporting is the fairly large loss that ROO operates at (similar to many new technology companies that rely of funding to survive, not revenues). It’s hard to take any of these Web 2.0 companies seriously (YouTube, Revver, and really) as none turn a profit, it’s all based on belief that they will one day turn a profit.
“At September 30, 2006 (end of Q3), it [ROO] has a working capital surplus of $1.81 million and an accumulated deficit of $23.97 million.”
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