“Looking to raise $24 million in a Linux-crazed IPO market,
this company has little besides its name to offer.“
“How much is a company with the word “Linux” in its name worth?
According to Wun Chiou, the answer is about $24 million. That’s how
much his company, LinuxOne, with the proposed ticker symbol LINX,
is expecting to reap from its coming initial public offering. The
neat part is, this company is very little besides its name, ticker
symbol, and a handful of press releases….”
“Then there’s the company’s revenue: Zero. That’s right, zero
revenue and, of course, zero profits. The company claims that it
distributes Linux. Yet when you go to its Web site, which is
adorned with a cute logo and asks which version of Linux you want,
all the links to FTP sites where you can download the software are
dead. No products and no revenue but a fancy-looking Web site.”