Unless the monetization announcements are false, it would seem that they sold their souls to private equity, who have now turned around to milk the game for profits.
However, in this particular case I think the CEO was running this as a pump and dump for nearly a decade, claiming to be fully funded and having no board (because he claimed it was self funded), and giving himself massive raises year over year.
So a private equity firm bought something hollow. I have some guesses about it. Probably a friend of his, probably got it cheap, and is about to gut whatever is left now that the guy who did own it got out with what he could. Why would PE buy it otherwise? There’s no goodwill or name to cash in on like what’s being done with Native Instruments.
Unless the monetization announcements are false, it would seem that they sold their souls to private equity, who have now turned around to milk the game for profits.
Fucking sons of a bitches, a pox on private equity firms, I hope they all get leprosy.
I hope they all get untreated ciphilis.
Fun fact! Syphilis was known as the Great Pox, in contrast to Small Pox, which is why smallpox is called that!
I mean, yeah.
However, in this particular case I think the CEO was running this as a pump and dump for nearly a decade, claiming to be fully funded and having no board (because he claimed it was self funded), and giving himself massive raises year over year.
So a private equity firm bought something hollow. I have some guesses about it. Probably a friend of his, probably got it cheap, and is about to gut whatever is left now that the guy who did own it got out with what he could. Why would PE buy it otherwise? There’s no goodwill or name to cash in on like what’s being done with Native Instruments.