Most Epinions.com Employees Got Shafted
Shopping.com (SHOP) garners a frothy valuation of $800 million and I'm sure atleast 5% of the employees are celebrating like it was 1999 again. In the meantime, former Epinions.com employees sit on the sideline with NOTHING. Here's a little background, SHOP formerly known as DealTime.com acquired Epinions.com when the market was grim and its valuation has fallen below water. Facing near bankruptcy, Epinions was luckily acquired by DealTime for much lesser than its initial valuation. So the low down is every employee of Epinions got nothing, nada, no shares, except for their COO whom which was recently revealed as a fraud with fake school and employment credentials. But hey, he doens't care, his shares are worth well over $20 million! But wait! This is not the end of the story! The sheister lawyers are all over this one like flies on a ten day old bowl of oatmeal cereal. I'm speculating the sharks will come out winners in this battle. Yet another reason why I won't invest in SHOP.
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