Jamdat To IPO Way Too Soon
Nice market – cell phone games – nice company. But what’s the frickin’ rush guys? Not only is the IPO market freezing, but enthusiasm for gaming stocks is worse – call Acclaim and ask them. Companies that require more Brinks trucks can overcome the environment, but Jamdat isn’t there yet. According to their prospectus: “Since commencing operations in March 2000, our revenues have grown to $13.5M for the year ended December 31, 2003, and $7M for the three months ended March 31, 2004. We had a net loss of $7.1M for the year ended December 31, 2003.” There are no peanuts in this Cracker-Jack box. Even CNN, which did a cutesy story on Jamdat this morning couldn’t gather excitement for the stock, pointing out how dependent the company is on a single game – Jamdat Bowling – and ominously flashing to EA’s HQ. Will people still Jamdat Bowl when they can play cell phone Madden on the bus?
The Bowling IPO
READ – Jamdat to Go Public (Gamespot)
READ – Jamdat Files IPO (Russell Beattie’s Notebook)
READ – Jamdat Mobile Files for IPO (Beyond VC)