Good for them. BaT was a great idea and capitalized (literally) on the opening in the market created by the weakness of the ebay platform.
Good for them. BaT was a great idea and capitalized (literally) on the opening in the market created by the weakness of the ebay platform.
I find that usually when large corporations buy innovative 'start-ups' there is a mis-match in culture, and the corporate one wins out.
It would be a shame if BAT changes in any way and I always shudder when such market consolidation takes place.
Kudos to the founders though for having the vision and executing it so well... enjoy the $$$s!
1966 911 Coupe - Slate Grey - 304598 - still in restoration!
Member #1616
I would love to hear the argument that this acquisition somehow helps BaT.
R&T is listless, Hearst is dead on the growth/idea front.
Seems like an awkward combo.
I'm happy if the BaT guys get paid out but wonder if the grass roots, boot strappy feel of BaT changes not for the better.
Let's hope not!
If the same thing happens to BAT that happened to R&T and C&D (quality wise, and I've had subscriptions to both since the late 60's) it won't be pretty...
(But it sure will free up a lot of time every day!!)
1971 914- original owner
1973 914 2.0
1972 911T targa
2016 981 spyder
2014 turbo S coupe
2019 RS5 sportback
Always sad to see founders selling out. Why not just keep nurturing the business yourself and enjoy a healthy and sustainable income? This is what's wrong with the world in a nutshell.
1970 2.2S Elfenbeinweiss
1972 2.4T Targa Aubergine (MFI) [For sale]
2002 996 TT Midnight Blue
Member #3833
Without knowing, I think it's safe to assume that the owners got a healthy multiple of sales as the final price. That means that they received TODAY a dollar amount that would have equated to many YEARS of future hard work. With no guarantees about anything in this world I think that it is prudent in some cases to take the bird in hand versus two in the bush. Not everyone has the same appetite for risk and you never know if there are extenuating circumstances in an owner's life that causes them to see a sale as the prudent choice.Originally Posted by frederik
Bravo to BaT founders. Capitalism at its finest.
If you go with the earlier $1M a month in earnings estimate and a conservative market valuation of 15 times earnings, then a >$100M payday is a very good reason to sell. Good for them. That is how value is created in a capitalistic society. Sad for us (possibly - but based on my R&T experience, not holding my breath).
I’ve never had an issue with value and wealth creation in this manner. It’s the way things are supposed to work. It is capitalism at its finest. Kudos to the BAT founders. I do have an issue with the incessant drive to create quarter over quarter earnings increases to boost share prices. That’s where consumers and employees get hurt to the benefit of shareholders. It’s also wealth creation, but its not equitable. Wealth (and share prices) should grow by innovation, not by share buybacks, squeezing employees and raising prices. Anyways <end rant>.
Early 911S Registry # 2395
1973 Porsche 911S in ivory white 5sp MT
2015 Porsche Macan S in agate grey 7sp PDK
+1 Fee amount and structure will most likely change and increase in the near term and continuously...
1957 356A Cab Condor Yellow
1970 911E Targa “CONDA G”
1970 911T3.2 “Meatballs”
1972 911T2.5 “AWBRGN”
1972 911T Targa Glaserblau
1976 911S Talbot Yellow
Only up to a point that the market will absorb. Beyond that and they kill the golden goose. Truthfully there are not a lot of barriers to entry for competitors to BAT. The buyer gets an established and loyal client base; keeping them will remain the hard part. If they misstep they will have massively overpaid for a web domain like during the dot-com boom.
Posting Permissions
Reply With Quote