If you want a sense of how quickly things change on the Web, consider this:
Back in the day, then InfoSpace CEO Naveen Jain was calling InfoSpace the first Trillion Dollar Company. Check it out here.
Suffice to say Jain was a legendary self-promoter, but the point remains that some people would have been crazy to dispute his claim. InfoSpace was once worth over $20 billion. Yes, I know, that was during the bubble days.
Today, it’s market cap is $642 million, it has, however, some $405 million in cash. Its enterprise value is less than $240 million folks… $240 million!
Anyway, because of that low enterprise value, you should note that I own shares in the company. Check out their restructuring plan here, laying off 40% of its 600-employee staff…
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