[UPDATE1] Geeknet (GKNTD) Names Scott [Ohloh] Collison as President and GM, Media and Announces Move from Silicon Valley to ThinkGeek's HQ, Virginia, CFO to Resign.
(November 18, 2010) Geeknet Names Scott Collison* as President and GM, Media
* Langone, Geeknet (GKNT) Q3 numbers Disappoint, Management overviews on Conference call Embarrassing...Reverse Split Effective November 10th [17:33 into CC]...Langone's UFI effected 1:3 reverse split today...Story Developing...
[7:09] Scott Collison…"...I want to talk about 3 things today….
1. Getting the fundamentals right
2. Increasing download pages..unique visitors increased 29% YoY to 40M unique
3. Focusing on our core business… [8:29] …One of the key things in regaining momentum for the media business at geeknet is focusing product efforts on our core business. To that end in q3 we sold our ohloh assets to blackduck software. We did this because SourceForge is in the business of software development and distribution and not in the business of providing data on open-source software development and use. As such Ohloh was no longer part of that core mission…"
Back to reality...See [Update1] Geeknet Divests ohloh (for $1.4M after paying $2.6M , in addition to associated operating, administrative, R&D from 5/2009 - 9/2010 (geek math)). The Minds BehindOhloh.net Failed to Turn Geeknet GKNTs World Class Open Source Assets Into Something Extraordinary. What's Next for SourceForge.net and Slashdot.org? #FAIL, #FTW...
1. Geeknet Chairman Kenneth Langone, dumps @jeff clavier funded Ohloh http://goo.gl/sMi9U as an asset sale http://goo.gl/3RbXN.
2. [Update1] ThinkGeek (GKNT) President Files 8-K Minutes Before Market Close [on a Friday] - Sticking it to Non-insider Shareholders...Confirmed at Nov 4 Q3 Conference Call.