14/07/2005. Contributed by Jessica Martin
IGN.com - which among other things operate a large science fiction portal - announce some big annual losses, including $3.4 million in just the first three months of 2005.
IGN Entertainment has filed for an IPO, and in its IPO filing has reportedly said:
"As a result of our restructurings and recent acquisitions, we have a short operating history under a relatively new and unproven business model, which might make it difficult for you to evaluate our future prospects and which increases the risk of your investment. In addition, we have experienced losses every year, including a net loss attributable to holders of common stock of $18.9 million in 2004 and $3.4 million in the three months ended March 31, 2005. As of March 31, 2005, we had an accumulated deficit of $23.3 million."
Their online properties include SFF-ish entertainment portal IGN.com and movie review site Rotten Tomatoes.
Thanks to PaidContent.org for sourcing this story.
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