Comment by mcintyre1994
Comment by mcintyre1994 12 hours ago
Do you mean pre-profit/without ever making a profit? I found an article about their IPO:
> Pets.com lost $42.4 million during the fourth quarter last year on $5.2 million in sales. Since the company's inception in February of last year, it has lost $61.8 million on $5.8 million in sales.
https://www.cnet.com/tech/tech-industry/pets-com-raises-82-5...
They had sales, they were just making a massive loss. Isn’t that pretty similar to AI companies, just on a way smaller scale?
We haven’t seen AI IPOs yet, but it’s not hard to imagine one of them going public before making profit IMO.
You'd think after all this time nerds would stop obsessing about profit. Profit doesn't matter. It hasn't mattered for a long time because tech companies have such fat margins they can go profitable in months if they wanted to.
Yes, $5m in sales. That's effectively pre-revenue for a tech company.