Yesterday, (September 9. 2010) it was announced that Metacafe had “acquired” action sports site Go211.com for what MetaCafe CEO Erick Hachenburg called an “equity transaction,” according to a post on All Things D by Peter Kafka.
So what does he get for his equity? In addition to the four million visitors that Action Sports’ Go211 gets a month, MetaCafe will also get a new chief revenue officer, in the form of former Action Sports CEO Sean Aruda.
Ignoring for a moment that Go211’s traffic numbers have always been highly suspect, it is interesting that Aruda finally found someone to rescue his site.
From almost the the minute Go211.com launched in early 2007 rumors began swirling that Aruda was already trying to flip the site. While he may not have gotten a buyer exactly, at least he’s got a new paying job. It looks like he’s in good company, too. According to MediaWeek, Metacafe plans to “double its revenues next year and reach profitability.”
And that’s just the kind of talk that keeps those bubbles bubbling.
[Link: All Things D and MediaWeek]
Sean Aruda is a goddam tool and shouldn’t even be associated with core-sports. I bet he’s working for free to pay back all his mistakes. Kook has a short 5 more years before the rest of the industry catches up. Suck My Ball Juice Aruda!
Oh dear. Does Metacafe know about all the fraud? Do they know that the US Ski Team has sued them?
Oh wait. Are they in on it?
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