posted on February 6, 2002 11:33:36 PM new
The lawsuit is a Red Herring. Obviously, the offering was undersubscribed and nobody wanted to buy a part of this dog of a company.
posted on February 7, 2002 11:08:07 AM new
A couple of interesting notes from the article referenced above:
****..."In the quarter ended Dec. 31, PayPal lost $18.54 million on revenue of $40.4 million, an improvement from a year ago, when the company lost $41.9 million on revenue of $8.8 million.
But just because it's losing money doesn't mean it's the same as all those other profitless dot-com IPOs, said David Menlow, president of IPOfinancial.com.
"Their financial growth and revenue lines look like a hockey stick--straight up. Although they are losing money and continue to lose money, they continue to lose less," he said. "If revenue continues to skyrocket and losses diminish, then at some point those two curves will cross."" ****
... Of course revenues continue to skyrocket, just look at all the people complaining that paypal has THOUSANDS AND THOUSANDS of their $$ that they (paypal) are holding "in limbo", without explanation... And this goes on for 30? 60? 90? days at a time (I've seen some 6 months +)- I mean, what are they going to say "Oh, I'm sorry, you can't have access to your money right now because we've borrowed it from you to invest in a Short-Term, High Yield fund" Doubt it! No, instead they'll say "Your account is restricted" Period. AND ALL THAT TIME, PAYPAL IS COLLECTING INTEREST ON THAT MONEY, AND ANSWERING TO NO ONE FOR IT!! FREE MONEY!!
And if you do the math from the first paragraph (loss of $42 mil on revenue of $9 mil)... those are some pretty deep pockets to fill. (I'm sure they'd like to thank all the unsuspecting paypal users who have contributed, but they won't).
LOSSES DIMINISH? I thought I rememberd the PayPalDemon on here saying that fraudulent activity was on the rise? But THEIR losses are diminishing? Gee.. let me think here, just who would be incurring those losses, then? Huh, that's a real stumper!! ROFLMAO!
[ edited by ltlcrafty1 on Feb 19, 2002 01:04 PM ]
posted on February 7, 2002 12:34:17 PM new
Their IPO filing shows a loss of $169,506,000 on revenue of $14,460,000 for the year 2000. This is abysmal performance. How can PayPal possibly have expenses where they lose so much money? I can't even imagine how they manage to continue losing so much money. It is a joke of a company and if they keep burning cash as they do, will go bankrupt sometime this year or early next year.
posted on February 7, 2002 01:33:32 PM new
callcorp
Since they're not even public yet, I'm sure they don't publish it, but I'd have to say that the 'Top Executives' (and in paypal's case - I use THAT term VERY loosly!) are hauling in some pretty big cash. And since they don't report to anyone, there are likely quite a few of the 'good 'ol boys'. Huge salaries and all the perks tend to eat away at revenues very quickly. And when you're a business that has those pesky, nagging 'customers' to deal with! Geesh! Some days I bet they just wish we'd all go away! OKAY! Bye Bye Now PayPal!
posted on February 8, 2002 05:36:19 PM new
Yes, they do have to report executive salaries as part of the IPO filing process. It is not to outrageous but they all seem to be young punks. Here are the numbers:
Management
Name Title Age Compensation
Peter A. Thiel Chief Executive Officer, President 33 $147,084 (2000)
Max R. Levchin Chief Technology Officer 26 $153,125 (2000)
Reid G. Hoffman Executive Vice President 34 $148,756 (2000)
posted on February 10, 2002 11:01:30 AM new
callcorp:
I suggest thatyou get your facts straight before posting them on this board.
For your information and to set the facts straight to the other users in this community, the reality is that the Paypal IPO was OVERSUBSCRIBED by over 20%, not undersubscribed.
My intention is not to pump up or dump on Paypal. It's to provide accurate information. I really tees me of to see inaccurate irresponsbile posts.
posted on February 10, 2002 12:27:56 PM newI really tees me of to see inaccurate irresponsbile posts.
Such is the nature of the beast. Any investor or businessman that gets their news from a messageboard or any unaccountable sources on the internet deserves what they get.
Internet message boards are a clearing house for hidden agendas, vendettas, manipulation via misinformation, unfounded rumors, etc..
posted on February 15, 2002 02:37:01 PM newcallcorpThe lawsuit is a Red Herring. Obviously, the offering was undersubscribed and nobody wanted to buy a part of this dog of a company.
Since PayPal (PYPL) was traded on the NASDAQ on 2/15/02 and closed with a +50% gain we can conclude your theory/rumor has been officially certified as bogus.
posted on February 16, 2002 09:09:52 PM new
``They have found fertile ground in this market,'' said Jim Van Dyke, an analyst for Jupiter Media Metrix. ``It is a lot less risky than sending a check to someone you don't know in Ohio and hoping that the beanie bay arrives in the mail.''
Gee... who knew.
Hey Damon, we've got another confused analyist (and a reporter) that aparently didn't read the TOS here. Care to drop a letter to this company and remind them, like you oh-so-often remind us, that PayPal *isn't* any safer than a check? Or cash...
Wouldn't want any false information out there confusing the potential investors, now would you?
http://dailynews.yahoo.com/h/nm/20020215/bs/tech_paypal_ipo_dc_4.html
[ edited by TMMamoru on Feb 16, 2002 09:11 PM ]
posted on February 19, 2002 01:03:18 PM new
uaru and computerboy: Here are some additional INFORMED facts-of-life for you:
Keith Regan of www.EcommerceTimes.com writes in a news article:
"...But even as the company debuted on the Nasdaq, it acknowledged that its future remains clouded.
Uncertain Outlook
In a follow-up filing with the SEC on Thursday, PayPal said that New York-based CertCo, which stalled PayPal's IPO a week ago by filing a surprise patent infringement lawsuit, is likely to seek an injunction.
If granted, such an injunction could shut down PayPal's service, which has grown to reach more than 12 million members.
During the last week, PayPal revealed that it is facing renewed scrutiny from regulators in several states, including Louisiana, where it has been ruled an unlicensed bank."
And David Menlow of IPOfinancial (who, previously had been VERY positive on PayPal's prospects) said today: "...but don't ignore the new announcements. My only point to the news media was that the deal should have been delayed until these problems that just surfaced were dealt with. All I wanted was a bit of confidence building for the investors. Give them a security blanket and tell them things will be okay and exactly why. Until it does, this deal "could" end up as a "trainwreck waiting to happen." Time will tell, as it always does."
COMPUTERBOY: If it so (and I cut & paste here): "I really tees me of to see inaccurate irresponsbile posts." (how ironic)... then get your own facts straight! And learn to spell.
[ edited by ltlcrafty1 on Feb 19, 2002 01:05 PM ]
I didn't fail to understand anything. Let ME try to explain it to YOU. Although I'm sure you won't be able to pick it up, as your ignorance is glaringly obvious.
callcorp was obviously stating an opinion. He wasn't offering a theory, he wasn't 'spreading rumors'. Stating ones opinion & sharing experiences ARE EXACTLY what community message boards are here for. Then computerboy comes on, all puffed up & righteous about 'inaccurate irresponsible posts' (in which he proves his commitment to accuracy by misspelling the first half of the sentence). COMPUTERBOY states that the IPO was oversubscribed (not you, by the way, as you stated in your reply). Then you come on, 'officially certifying' callcorps OPINION as bogus. Then you say that 'nothing can change the fact that callcorp was spreading false rumors.' Yes it can. How about the fact that he was STATING AN OPINION!
Now how could I POSSIBLY completely miss the focus of your post? Try focusing on something real first - then talk to me. If it so disturbs you and/or computerboy to read other people's opinions, I strongly suggest you stay away from internet message boards altogether.
posted on February 21, 2002 03:02:16 PM newNow how could I POSSIBLY completely miss the focus of your post?
ltlcrafty1,
PayPal's IPO was over subscribed, that's a fact. The original poster was wrong. Nothing that happens can ever change that short of the orginal poster coming back and editing his post.
BTW, do you know how impressed I am by someone that harps in two posts about a spelling error?
You think I was trying to impress you? You think I care if you're impressed?
And regarding callcorps original message -IT WAS AN OPINION - GET OVER IT!
P.S. Can you imagine how UNimpressed I am by someone who harps about someone else's OPINION being wrong in 3 separate messages?
[ edited by ltlcrafty1 on Feb 22, 2002 12:37 PM ]
posted on February 21, 2002 05:37:30 PM new
The paypal cheerleaders better open their wallets and buy stock. It has lost over 25% in only 3 days!! It will probally lose another 10% tomorrow.
