Daft now own 71% of boards.ie?

oppenheimer1

Changes? Well there have been plenty of changes, all one has to do is look at the charter updates and sticky relating to "abuse" of celebrities. All of this to make the site more marketable to advertisers. I have noticed a decline in regular posters coming to the site too. Maybe they've moved on and are bored or perhaps the newer heavy handed moderation coming from diktat at the top is slowly driving the old, more eloquent posters away.

I think that advertisers may have started to realise that almost no one buys anything as a result of an online ad and the pay per click model doesn't work that well. It is very difficult to make money online.

AnnyHallsal

Joey the lips wrote: »

Thats daft......ie

Can see this catching on. It's my new *stock* response :pac:

Post of the day surely ...

ScumLord

Invested €1.35 million! In boards! Jaysus I didn't think there was ever that much money involved, Christ almighty, 1.35 millions, how the hell do they plan to recoup their investment with google ads?

biko

The story you linked to OP is:
By Gordon Deegan
Friday September 25 2009
Profits at one of Ireland's largest online media groups, Daft Media Ltd, were hit last year following a €1m writedown on an investment in the firm that operates the community website, boards.ie.

Your quote is from another place, www.propertyweek.ie
This doesn't make sense, pls explain.

Edit - NM: http://www.herald.ie/national-news/daft-gets-profit-jump-2359454.html

Thursday September 30 2010
ONLINE housing group Daft Media reported a 25pc jump in pre-tax profits last year, despite a writedown against its investment in community website, boards.ie.
The group's accounts for the Dublin-based firm show that its pre-tax profits were hit for the second year running following the company writing down its investment in the firm.
Recent accounts filed show that Daft Media Ltd took a majority stake in Boards.ie Ltd last year by investing an additional €1.35m in the company to bring its stake in the firm to 71pc.
Established in 1997 by brothers Eamonn and Brian Fallon, Daft Media Ltd's revenues last year increased by 6pc from €5.7m to €6.1m while pre-tax profits jumped to €2.18m.

Yo Buddy. You still alive?

biko wrote: »

The story you linked to OP is:
By Gordon Deegan
Friday September 25 2009
Profits at one of Ireland's largest online media groups, Daft Media Ltd, were hit last year following a €1m writedown on an investment in the firm that operates the community website, boards.ie.

Your quote is from another place, www.propertyweek.ie
This doesn't make sense, pls explain.

Edit - NM: http://www.herald.ie/national-news/daft-gets-profit-jump-2359454.html

Sorry about that. I have corrected to opening post to link to the newer article. copypasta error on my behalf.

DeVore

Thats Merc, he has an axe to grind but I'll answer questions regardless.


#1. Most of that is about Daft LTD. They are a completely different company who bought shares in Boards some time ago.

#2. Actually our company plan forcasted a loss of about 130k so a 90K loss is (kinda bizarrely) rather good in an unexpected economic collapse. We're more than happy

#3. Daft not only were happy to have paid what they paid for the first chunk of shares, but they paid the same amount again the second time.

#4. I told the Mods about this at the time because they power the site and I wanted them informed. I kept it quiet from feedback because I wanted to be able to write #5.

#5. Daft has had majority shareholding in the company for over 18 months now. Noticed much that has changed? We still make the rules, we still did what we felt was right about the poker forum debacle, despite the lose of revenue (about 10k). We are still making our own decisions. Its been 11 years now, I think I've earned the right to be trusted.

#6 The site wouldnt be here if we didnt go this route. In every meaningful metric, its triple the size it was when we first sold shares (2008). Conor and Ross have transformed us from a rickety site that ran slow and fell down into something that feel ubiquitous and rold-solid. Dav and Darragh have had a longer job of trying to bring some order to our chaos. Mostly I write essays and worry.

#6 Daft most certainly value the company at more then 3M and no, we are not in trouble, it takes a few years at 90K loss to eat through that cash
We're rock solid and in fact hope to be hiring again soon (probably another techie).

#7 I dont think people understand the breadth of my ambition... I will be happy when Boards is the ONLY irish website. I want every Irish person, every company, every politician and every journalist focused on Boards and beholden to our rules. We're about half way to completing my "vision" (yeuch!)... its only been a decade, give me a chance loike.

I am a very patient man sometimes

DeV.

hinault

DeVore wrote: »

#7 I dont think people understand the breadth of my ambition... I will be happy when Boards is the ONLY irish website. I want every Irish person, every company, every politician and every journalist focused on Boards and beholden to our rules. We're about half way to completing my "vision" (yeuch!)... its only been a decade, give me a chance loike.

Nice one!