Market cap 02/18/08: $120M Source: Ibid.
Market cap 10/1/2010: 112.8 Shareholder Value Destruction: --> 6.0%
Enterprise Value 02/18/08: $60M Source: Ibid.
Enterprise Value 10/2/10: $84.8M Shareholder Value Creation: --> 41.3%
Shareholder Equity 02/18/08: $60M Source: Ibid.
Shareholder Equity 06/30/10: $44.4M Shareholder Value Destruction: -->26.0%
To put all this into perspective, the "Partners", since Kenneth Langone's appearance, appear to be slowly turning things around. Of significance, Geeknet shareholder value does not reflect the following events since Trivium's demand letter:
1. The Ohloh and Geek.com acquisitions.
2. Unique visitors to Geeknet owned sites (Thinkgeek.com , Slashdot.org, Geek.com, Sourceforge.net, ohloh.net, freshmeat.net) grew appx. fifty (50%) percent from 32 million unique visitors from 1/31/2008* to 48.4M as of July 2010**.
* Our network of web sites served an average of 32 million unique visitors per month* over the past twelve months (*Source: Google Analytics and Omniture). Source: SEC Form 10-Q filed 3/11/08 for period ending 1/31/2008.
** We serve an audience of 48 million users* each month. (*July 2010 Unique Visitors 48.4M. Source: Google Analytics and Omniture). Source Geek.net
3. The new SourceForge (8/2010) now run by the recently appointed and promising elizabethn (8/2010).
...and more recently (last two weeks)...
1. (Sep 29 2010) Spruce Up Your Portfolio With Insider Plays
2. (Sep 22 2010) ThinkGeek TK-421 could be huge (delivery 11/23, invented at ThinkGeek, covered by Gizmodo and Engadget out of the gate (9/22).
3. (Sep 27, 2010) Inside ThinkGeek, Where Mythical Meat Can Make Millions W I R E D
4. (Sep 17, 2010) The Top 100 Web Brands (Geeknet #100).
5. (October 2010) Kiplinger, 6 Rules for Investing in Internet Stocks and 8 Promising Picks
6. (Sep 28 2010) "...Quality content is on the acquisitive menu again...", Motley Fool.
7. (Sep 30 2010) Geeknet, Inc. Reaches 52-Week High; GKNT, NTES, ORCC.
The wildcard - Slashdot.org -->
(7/29/10) Slashdot Struggles to Remain Relevant in The Social Web RWW