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Buy.com out of cash soon?

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Buy.com out of cash soon?

Old 05-09-01, 12:37 PM
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Sorry to see them go if it happens. I really enjoyed their $10 of $30 for "new" customers.

http://dailynews.yahoo.com/h/nf/20010503/tc/9454_1.html

...

Buy.com may only have a limited amount of time to turn its situation around. The e-tailer said that it burned through $33.7 million during the first quarter, leaving only another $33.7 million in cash and marketable securities, $20 million of which is restricted under credit obligations.

Kathman noted that in its fourth quarter 2000 financial results, the company's previous management team had stimated it would have between $45 million and $50 million on hand by the end of the first quarter.

"They're burning through cash quicker than they wanted to, and if they run out of money then that's it," Kathman said.

Kathman thinks that it is unlikely that the e-tailer will be able to secure additional funding in the current market. If it were to do so, he predicted that the funds would likely be "death spiral funding," which would likely require Buy.com to give away a "huge chunk" of the company in order to survive.
Old 05-09-01, 09:01 PM
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i guess we'll just call them buh-bye dot com

-skipper
Old 05-09-01, 09:10 PM
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The race is still on. I ordered Dogma:SE over 6 months ago, and I've been wondering if they'll still be around to deliver it when it finally comes out. The funny thing is they finally redesigned their site and got a real search engine just in time to go away. I guess we can look forward to %10 off pre-orders at Amazon.
Old 05-10-01, 12:49 PM
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This sucks. I know they have been going downhill for awhile with their prices increasing and lack of coupons, but I still have that $10 Digital Neighbors gc sitting in my account that I need to use...guess I should spend it soon...they haven't had a decent coupon in ages and I guess they won't know....

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