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> According to Schroter, “We were happy to step up to keep Zirtual in operation. So many companies depend on their services to keep their businesses running smo
by 7Figures2Commas 11y ago
> According to Schroter, “We were happy to step up to keep Zirtual in operation. So many companies depend on their services to keep their businesses running smoothly, and with over $11 million in earnings in the last year alone, the acquisition made sense...
"Earnings" is a measure of profit. Zirtual claims it had an $11 million annual revenue run rate but, as we now know, was not at all profitable.
It's amazing that in startupland folks still can't seem to use basic accounting terms properly, especially in situations particularly sensitive to their misuse.