The Don-Con: InfoSpace Deception Laid Bare

dotconlogo_banner.gifIn what is perhaps the most amazing piece of business journalism to come out in years, Seattle Times has laid out the whole InfoSpace saga bare, in a three-day series on the deception. In the late 90s, executives at the Seattle region’s biggest dotcom created the illusion of success, boasting of rocketing revenues and unlimited potential. Privately, many insiders were cashing out millions, and faithful investors were soon left with pennies on the dollar.
The reporters sifted through 25,000 pages of documents, and came to the conclusion that as InfoSpace was telling investors that the company’s finances were robust, and Merrill Lynch was recommending its shares, InfoSpace had troubled finances and undisclosed stock sales by its founder…
Note to Seattle Times Online Crew: Even though you’ve done a great job with the layout online, this is a perfect story to offer as a PDF. It is a long one, and perfect for printout and leisure/detailed reading…CNET News.com has been doing it well, on its special reports…please, there’s still time. (Even though I bet they’re working on a book on this…)

Comments have been disabled for this post