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Old 12-06-2005, 08:41 AM   #1
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Default Friends reunited goes for £120 Million

Friends reuntied Today sold for a very cool £120 Million (Approx $208 Million USD).

Times like this, don't you just wish you had that idea

One thing we can all hopefully benefit from is the signs that there is still silly amounts of cash to be made online with the right idea

“When we started Friends Reunited in our spare bedroom in July 2000 we had no idea that what began as a hobby would gain phenomenon status, let alone develop into a family of successful websites. However, as the business is now run by Michael and the management team we brought in three years ago and the business is all grown up, its time for my wife Julie and I to let go knowing it's in safe hands.”
Not a bad return for 5 years work..

Last edited by buttsie; 12-06-2005 at 08:46 AM.
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Old 12-06-2005, 10:45 AM   #2
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nice sale, very nice indeed

but you know what --- I'm convinced that many of us aren't lacking in good ideas --- the trick is taking the good idea to the place it's perceived as being worth such a princely sum --- now that's where I need to improve

might sound whacky but I churn out really great ideas like there's no tomorrow --- i make a living --- i do OK --- but on most of my ideas I flounder and lose interest and patience

I like what Art Linkletter said --- "If something is worth trying at all, it's worth trying at least 10 times."

I think sales / post like this keep us all trying
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Old 12-06-2005, 12:26 PM   #3
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any ideas why it went for 20 years profit?!
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Old 12-06-2005, 12:53 PM   #4
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Probably because the calculation for sites of that size don't use the same 6 - 12 months formula we'd normally use when pricing up a site

To be honest, I have no idea. I guess ITV, have some big plans for the site and can see some really valuable synergies between Friends reunited and their exsisting network..

A further payment of up to £55 million may be made during 2009 based on EBITDA performance targets.
I assume they already have made the forecasts if they are chucking these kinds of figures around based on future performance. Eg:

Online cross promotion, links, brand extension and support between ITV.com, ITV Local and Friends Reunited.
The development of new services and revenue streams by linking ITV.com, ITV Local and Friends Reunited in areas such as dating, recruitment and classifieds.
etc etc

Last edited by buttsie; 12-06-2005 at 12:56 PM.
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Old 12-07-2005, 02:45 AM   #5
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IMO, one thing that has changed since the crazy days of dotcom era is that the big bucks are now paid for companies that provide "services", not content. Basically all the biggest dotcom acquisitions this year (apart from IGN..) have been made for sites that provide services rather than content. Skype, Friends Reunited, MySpace.com, etc...

I think its due the fact that basically the cost of running something that is powered pretty much entirely by its userbase is much, much cheaper than running a content site. Also, with content site, they tend to die if you turn off the flow of daily content, whereas a site that is purely powered by its userbase, you could basically fire all the employees (well, apart from the couple of guys who make sure the servers don't crash) and still the traffic would continue to grow if you've managed to gather the "critical mass" of users behind your service.

This coming from a guy who runs a number of websites focused on daily news, software updates, etc might sound slightly sad, but that's just an observation I've made over the last year or two :-)

And if you think about it, most dotcom companies that are listed in stock markets tend to be "service companies" rather than "content companies" -- onlybig name exceptions that I can think of are CNet and iVillage.
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Old 12-09-2005, 12:08 PM   #6
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some very well put comments there dRD
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