Curse.com $11M funding Provides Clear Evidence For SourceForge.net (Geeknet (LNUX)) Valuation and LNUX Closing Below Liquidation Value.
December 26, 2009
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"...Most people would probably view a hardcore, 16 hour-a-day addiction to World of Warcraft as a bad thing. That was certainly the case for Hubert Thieblot a few years ago, when he dropped out of school and his parents decided to kick him out of the house because he was playing so much. Flash forward five years. Thieblot has managed to turn his addiction into a thriving company called Curse that generated over $3 million in revenue this year. Today, the company is disclosing a $6 million Series B round it closed in early 2009 with participation from Ventech Capital, AGF Private Equity, and SoftTech VC (Jeff Clavier). The round brings Curse’s total funding to $11 million, after a $5 million Series A round in 2007 led by AGF Private Equity.
In some senses, Curse is akin to a SourceForge* for computer games, in that it offers a directory of plugins that players can use to customize and enhance their PC games. Many of the site’s users are World of Warcraft fans, who have made Curse.com the definitive site for WoW add-ons. Alongside its directory, Curse also makes a native client players can use to manage their plugins that currently has over 1.6 million active users...This forward thinking is a big part of the company’s strategy: Thieblot says that Curse tries to stay ahead of the curve, strategically trying to figure out which games are going to be hits and then positioning themselves accordingly..." [emphasis added]. Source: TechCrunch Dec 22 2009.
And then there is Geeknet. In addition to SourceForge.net this Blog has posted numerous further unequivocal evidence of Geeknet / SourceForge Management's consistent patterns of failing to properly value all LNUX assets (also see References, below).
Again, Geeknet (LNUX) Management and its Board of Directors have failed and continue to fail their shareholders where other companies and CEO e.g. Hubert Thieblot, 22 years old, and curse.com are delivering for their shareholders. qed.
/s/chaosUnplugged, Shareholder Value Activists, Of the Shareholders, By the Shareholders, For the Shareholders (sm), (tm), (c) copyright 1996-2010 gnulaw.org. All Rights Reserved. #1 Motley Fool Score Leader Motley Fool Red Hat Pick.
* Note: SourceForge.net's Metrics alone exceed curse.com's
Valuation References:
1. Geeknet (LNUX) - Large Institutional 13D Shareholder Put Pressure On Board Demanding to Unlock Value. Where is Geeknet now 21 Months Later?
2. SourceForge CEO Kauffman's "ADS" Strategy ADdS Up To Zero, Losses Mount, Key Exec Leaves
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