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Salesforce.com (CRM) has laid off "fewer than 100 people" at its Radian6 social media marketing...

Salesforce.com (CRM) has laid off "fewer than 100 people" at its Radian6 social media marketing software unit. The company says the move, which comes 18 months after Radian6 was bought for $326M, is tied to integrating the unit with recently-purchased Buddy Media. Yesterday, Salesforce filed an 8-K in which it disclosed Buddy Media posted 1H revenue of $18M (+76% Y/Y) and a net loss of $20.6M - Salesforce bear Todd Sullivan wasn't amused.
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Comments (2)
  • Jay Schembs, CFA
    , contributor
    Comments (136) | Send Message
     
    Perhaps it's the CRM bear in me, but this sounds like a canary in a coal mine. The Buddy Media 8-K was very clear as to the cash burn CRM acquired, and the only way CRM has been able to generate cash has been through working capital and stock option exercise proceeds.
    24 Oct 2012, 02:52 PM Reply Like
  • ReligiousWacko
    , contributor
    Comments (1304) | Send Message
     
    You can play accounting scams for only so long ....
    25 Oct 2012, 10:44 AM Reply Like
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