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gnulaw (52.61)

What is Going Down @Geeknet (GKNT)? Imminent SourceForge.net Divestiture? Github Acquisition? Who is Geeknet's Mark Zuckerberg?

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October 03, 2010 – Comments (4) | RELATED TICKERS: AMZN , BBY , GKNT


Geek.net is not reporting [full disclosure] anything they normally would be, an issue consistently reported here e.g. TK-421 iPhone (3) launch this quarter, certain management departures (1,4). What appears and what does not appear on the Geek.net main site is dangerously outdated in areas ranging from full disclosure to competitive advantage (1,3,4,5). The current state of the Geek.net website is a disaster.

What's going down at Geeknet (GKNT) (1,2,3,4,5,6)?

thinkgeek (@thinkgeek)
10/1/10 3:18 PM
Geeknet needs a kick-ass Sysadmin to lovingly care for our Linux servers in the Chicago area: http://j.mp/9sbz0tPls pass along!
jeffrey bates (@hemos)
10/1/10 6:10 AM
Oh, and today also marks my departure from geeknet/#sourceforge/#slashdot. I'll have a post up soonish; gl to all.
ange1a (@ange1a)
10/2/10 10:25 PM
whoa... lots of good people leaving sourceforge this week... I feel some what abandoned...


© 2010 Twitter


'...Why did Kenneth Langone's say the following as his parting comments on the Q2 ending June 30, 2010 conference call held on August 4th at [15:30/18:09] ? "...Matt Sweeney is very excited about the opportunities on the sales and marketing side...". After Langone's firings Geeknet (GKNT) shareholders are now left with Matt Sweeney as Chief Revenue Officer whose sole background is in media and marketing services with ComputerWorld, InfoWorld (IDG) and Ziff-Davis who "...managed $30M+ in print/online sales for PC Magazine, the largest computer publication in the world with $60M in revenues....".  This is less than Geeknet's current revenues..."  Source: (5).


Something is clearly not right here. Geeknet's [Management] is missing several key people. Is a divestiture/sale imminent? If not then the non-insider shareholders are faced with alleged gross negligence and I still maintain, Geeknet officers and directors are in violation of alleged federal and state securities statutes including Sarbanes Oxley and SEC Rule 10b-5, again, as consistently reported here.  The [only] reason for Matt Seeney's existence appears to be to set up the sale of Geeknet's open source (Media) assets ( OhlohSourceForgeSlashdotFreshmeat). I am not sure where that leaves Geek.comThinkGeek, as good as some of their numbers appear, still is lacking a CEO from either Amazon.com or Best Buy. 

Lastly, as reported yesterday and, again, above, the founder of Slashdot's last day was October 1st. He was also VP Platforms, SourceForge.net. Slashdot is headquartered in Dexter, Michigan. Mark Zuckerberg moved his entire operation/mindset/passion to Silicon Valley as he knew, by definition, that was what he [had] to do to build his dream into a dominant/viral market share/competitive advantage(.)  Question: Who is Geeknet's Mark Zuckerberg? 

 

References:


1.  (October 02, 2010) Breaking News...Slashdot Co-founder and VP Product/Platform SourceForge.net (GKNT) Last Day October 1st...

2.  (October 02, 2010) [Update3] Geeknet Disrupt - 9/30 GKNT 52/133 Week High: In Perspective - 31 Months Ago 13D Hedge Fund Shareholder Put Pressure On Geeknet (GKNT) Board Demanding to Unlock Value.

3.  (September 17, 2010) [Update1] A Ten-bagger Predictive Model? or Geeknet (GKNT) Files SEC Form 8-K...KPMG in...Stonefield Josephson out. Geeknet off diapers...into big boy pants. Kenneth Langone is Kicking A$$ and Taking Names

4.  (September 13, 2010) [Update5] Kenneth Langone Continues Buying Spree of Geeknet (GKNT) Shares. Day 11...as R&D Cut, SourceForge gutted. What is Langone's Endgame?

5.  (September 09, 2010) Questions any Geeknet (GKNT) non-insider and former employee/officer/Director shareholder should be asking.

6.  (September 04, 2010) Geeknet (GKNT) Non-insider shareholder AMBER Alert.

 

Respective Twitter quotes above are © 2010 Twitter.

 

4 Comments – Post Your Own

#1) On October 03, 2010 at 1:52 PM, gnulaw (52.61) wrote:

 >> Geek.net is not reporting [full disclosure] anything they normally would be, an issue consistently reported here e.g. TK-421 iPhone (3) launch this quarter, certain management departures (1,4). What appears and what does not appear on the Geek.net main site is dangerously outdated in areas ranging from full disclosure to competitive advantage (1,3,4,5). The current state of the Geek.net website is a disaster. 

Why isn't this all over geek.net? Houston, we have a problem... 

"...Well I think every iPhone user has just died and gone to heaven, and the BlackBerry is about to a take nap for the rest of the night, because the TK-421 iPhone case with flip-out keyboard is here. It feels like the second coming of the infamous iTwinge. In November, Think Geek will enable the impossible and provide us with the best of both worlds by turning your iPhone 4 into a Droid…. or rather, they’ll be launching a case with a built-in keyboard that rotates out when needed. The keyboard connects wirelessly to your iPhone 3GS or iPhone 4 via Bluetooth – Awesome! The TK-421 iPhone case with flip-out keyboard will retail for $49.99. Lets hope that the TK-41 really shows up, an doesn’t end up like the iTwinge that never actually materialized. Can someone please put this in my Christmas stocking this year!..."

Source: (September 22, 2010) ChipChick TK-421 iPhone 4 Case with Flip-out Keyboard is Better Than the iTwinge .  

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#2) On October 05, 2010 at 7:36 AM, gnulaw (52.61) wrote:

Uriah (@precision)
10/1/10 3:07 PM
Last day @ SourceForge, it's been a long and bumpy 11 years, but it's time to move on.

 

© 2010 Twitter 

 

 

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#3) On October 12, 2010 at 5:28 PM, gnulaw (52.61) wrote:

Something is not right here including last Friday's 8-K filing. The website Geek.net remains a disaster and the person who founded ohloh and disclosed to the media Geeknet's sale of ohloh  "...SourceForge is in the forge business and not in the business of providing data on open source software use. We decided to sell Ohloh to the preeminent FOSS data company in the world, Black Duck Software. We've had a relationship with Black Duck for years, and we are confident Black Duck will be the best steward of Ohloh's data and community...." is also the person who led the integration effort of ohloh into Geeknet [and failed] in May 2009 and now is Vice President of Product, Geeknet?

 

"...Of course, whether this will make money is anyone's guess. Black Duck has done pretty well, it seems, in their particular niche, but Ohloh.net was just bought by Geeknet in May 2009 for $2.6 million. In just 17 month's time, Geeknet turns right around and sells it. You can't help but wonder what's going on with Geeknet, particularly in light of its transferring the Linux.comproperty to the Linux Foundation in 2008.

 

One could argue that Geeknet is trying to concentrate on its media and retail properties (Slashdot and ThinkGeek) with the sale of Ohloh.net, but the sale of Linux.com seems to belie that notion. Plus, where does that leave SourceForge and freshmeat? In its heyday, Geeknet (and VA Software before it) spanned a broad range of web and software properties in the open source community..." Source: itworld.com October 5, 2010

 

 

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#4) On October 12, 2010 at 6:22 PM, gnulaw (52.61) wrote:

Geeknet (GKNT) Non-insider Shareholder Value AMBER Alert.

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