And the award for the worst IPO of all time goes toâ€¦

Classmates.com. Let’s see. The site is merely a tiny subset of MySpace’s or Facebook’s functionality, but unlike them you have to pay for it. And it has something like 1/100th of the customers of either. And they’re unprofitable, with a shrinking customer base. Oh, and don’t forget the FTC investigation into their billing procedures.

I don’t know about you, but I’m calling my broker today.

This entry was posted on November 27, 2007 at 3:17 am and is filed under Stupid Shit I Found On The Web . You can follow any responses to this entry through the RSS 2.0 feed Both comments and pings are currently closed.

6 Responses to “And the award for the worst IPO of all time goes toâ€¦”

Chamoen Says:
November 27, 2007 at 10:51 am

This is the type of shit that makes people say “the bubble is about to burst”.

But I still think selling Pet food over the internet is the way to go.
mattmaroon Says:
November 27, 2007 at 11:21 am

What makes me feel hopeful is that now this is the exception, rather than the rule. I'll feel a little less so though if their share price soars.

-Matt
Daniel Ha Says:
November 27, 2007 at 11:48 am

The idea was a solid one for being from way back when. But you know there has to be some major fuckups in there if you can flub the execution so badly.
mattmaroon Says:
November 27, 2007 at 4:02 pm

It was kinda novel way back in the day.
Joe Says:
December 10, 2007 at 9:53 am

Couldn't agree more. I don't understand how a company can go public when it has 0 chance of growing. They have been declining for years.

I am launching a blog that is a Tech Crunch for sports at http://www.sportstechnow.com. I was wondering if you could answer a few interview questions. I want to feature 5 new websites/blogs for the launch. Email me at info@sportstechnow.com if you are interested.
Schnoodle Says:
December 12, 2007 at 11:57 am

Must feel good to call em correctly

United Online Cancels Classmates IPO

http://www.seekingalpha.com/article/57100-unite…