The Stupidest Idea Ever
Back in 1998, we attended on eTravel conference in the Arizona dessert where we befriended some dotcomers running a site called Travelzoo that at the time had no cred. To kick-start the unfunded business, their marketing genius devised a ruse to promote via pop-ups free stock options in the private company to anybody who would use the travel deal site’s service. Now, the company is on Nasdaq (TZOO) and if you took the offer, and kept your papers in order, the stock is worth $450. The problem is that these shareholders are selling off their old stock certificates and TravelZoo’s stock took a beating as a result. Perhaps separately, the SEC announced that they are investigating the company for insider trading.
Read – Travelzoo Tumbles on Results, SEC Probe (Internet News)
Read – Taking Stock of a Dot-Com Freebie (Wired)