Failed online retailer's innovative approach to biz!
You know the old joke. How do you make a million dollars in the stock market? Start with two!
SurfStitch, one of the Australian stock exchanges’ worst-performing IPO’s in recent memory, who is currently facing class actions for hundreds of millions of dollars and is in administration and a trading halt after its share price collapsed from two bucks to six cents, today continued to double-down on its innovative buy-high-sell-low strategy.
You’ll remember that Stab and Magic Seaweed, bought for millions, were sold for pennies.
And, now, SurfDome, the British-based online retailer has been sold by SurfStitch for $11.8 million, a paltry $33 million less than the bullish Australian paid three years ago.
“We see Surfdome as being very complementary to SurfStitch,” said the company’s founder Justin Cameron at the time. “We are now the No 1 player in all the areas we operate.”
The other founder of SurfStitch, the slightly-less-photogenic Lex Pedersen, celebrated his recent release from the company he created by helping to launch Periscope, a “strategic, digital business delivering world class strategy, consulting, infrastructure and services to ecommerce. Through vision, expertise, experience & people we help our partners e-commerce better. Our goal is to make every partnership priceless.”
Priceless!
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Eh. Blowin Dudes In Bondi
Do you think there’s a interweb site to serve Brofessionals?
Pornhub?
Is that like MySpace?
did that, it came up….”when male refers to other male as less photogenic, refers to this male not being as stud in quality and not suitable for poof of spit.”
Now I get it. Thanks for your direction.
Slightly less photogenic??? Please explain….
Just google the definition of the three words then read them again but remember to maintain the order.
Who would you sex?
http://www.coastalwatch.com…
Hey Dez and Chas,
Just read that Doherty and all “surf media” have been invited to Surf Ranch!!
Did you guys get invited?
is the strike off??
Are the WSL a bunch of suckworth pussies for caving in?? Probably yes?
But did you get the call up??
Hell even I got the call up and I’m not Surf Media.
How so – bet they run story on this!!
Just kidding.
I’ve moved and I don’t think Kelly has my new number.
Where did you read such a thing?
Read Doherty’s take on rd 1 at coastalwatch!!
Oh I see what you mean!
you guys better get the call – we need a report from said ranch
unless taking the piss
Sorry Justin, but in fact I might be the No. 1 Player in all the areas I operate after buying a hollow timber board circa 1955 for $100 and passing it off for $1800. Someone tell Justin that a profit can still actually be made in surf. Someone float me now!
floated with an upvote
I’m being floated well. All because, according to biolos my stupid wood twins that wouldn’t work,are selling,fast.
I’ve often accidentally mixed up the word ‘priceless’ with the word ‘worthless’.
I am a redneck in the middle of nowhere and I saw when they bought magicsealie and fcs and stab I knew it would fail miserably. From all the frontline episodes I have seen, ipos and the subsequent stock buybacks enrich the initial shareholders and screw everyone else. Looked obvious to me but I know literally nothing!!
Still waiting for my hat/resume combo….
Price-free!!
Risk free!