CrassMates: The Pirates of the Nasdaq
Classmates, the grand-daddy of social net sites is going for the big IPO play: hoping to market cap itself at $600 million… pretty low in today’s standards. Complicating this transition is an FTC investigation into its “auto-renewal” practices. Give out your credit card once, and it’s charged monthly forevermore! Bad user experience. Some users won’t even realize their cards are being charged – so Classmates remains a winner, financially. It’s current balance sheet reports $170m revenue with $1.7m net. Classmates’ UX is notorious for baiting you with “free” services, then emailing you constantly trying to entice you into the paid service.
I wouldn’t be writing this post if they’d stop telling that some girl I liked in grade 8 wants to chat… LOL but I have to pay to find out who it is…SM’s recommendation: Don’t invest in a predatory user eXperience!
image… South Park of course!
Tags: Classmates, IPO
How do you know you liked her if you don’t know which girl it is that wants to chat? Or perhaps like me, you had a crush on all the girls in grade 8?
Hey Steve… grade 8, man – I would have had a crush on ANY girl that liked me…