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Oh yea unforseen that spending $700MM on nothing but naming (not even owning) some stadium and hundreds of millions on other silly stuff doesn't pay off. Now em
by ulfw 4y ago
Oh yea unforseen that spending $700MM on nothing but naming (not even owning) some stadium and hundreds of millions on other silly stuff doesn't pay off. Now employees have to suffer with impact on their livelihoods.
https://www.reuters.com/technology/how-cryptocom-is-betting-big-sports-partnerships-reach-billion-users-2022-02-14/ https://www.reuters.com/technology/how-cryptocom-is-betting-...
Meanwhile their token is down nearly 96% (i.e. almost wiped out):
https://finance.yahoo.com/news/crypto-com-cuts-workforce-nearly-054625633.html https://finance.yahoo.com/news/crypto-com-cuts-workforce-nea...
- Forge36 4y agoWe'll see how much they sells the rights for. Imagine if they'd had that for runout in case of emergency.
- Epuineeb5 4y ago> The deal was reported to be valued at $700 million over 20 years, in comparison to the $116 million paid by Staples under its previous 20-year agreement. Somehow I doubt they will get better offer for resale than that old Staples deal.
- defterGoose 4y agoWelcome to The Herbalife Crypto.com Arena. I love you.
- Forge36 4y agoIdiocracy vibes make this feel more normal. That's disturbing