https://www.afr.com/brand/rear-window/jeremy-reids-pinchme-l…
Call me naive but when I was scoring free tooth paste samples I didn't know I was being mined for my personal data. Are most people here aware of the inherent cost of freebies? Do we care?
Has been so long since we got freebies from PinchMe.
What's the article linked saying? I'm not paying for a subscription just to know what the discussion here is.
Not much:
-68% stock value lost since listing in October
-A few senior execs including president and CRO
It's been a bad year for those investing in sharemarket floats. But few have done quite as bad as free sample review business PINCHme. Which is what, we suppose, recent investors are going around asking people to do to them in the hopes of waking from the nightmare that's wiped 68 per cent off its value since its listing in October (there is no truth to rumours the company is considering changing its name to (profanity)).
Founder and CEO Jeremy Reid — famously banned by ASIC from providing financial advice for two years due to his actions during the messy GFC collapse of hedge fund Everest Financial — managed to raise $8 million at 50¢ in October, from a register groaning under the weight of names like Ryan Stokes, Paul Little, Walter Piscotta and David Droga. After paying 6 per cent of that to its managers, the IPO enabled PINCHMe to clean its books of $US23 million in convertible loans owed to the business' wealthy early backers, who swapped them for shares.
But since then, its share price has edged steadily lower, and a string of senior executives have left, including president Adam Caplan and chief revenue officer Daniel Bornstein. At least Reid is still around. He poured in over $23,000 buying up more shares on Tuesday.
For those who dont have sub for AFR for the linked article
Didnt care, only real details they got was postal address, i miss free stuff still
The US site seems to be still up, the Oz one has been dead for about 18 months.
Maybe they should let everyone know they've incorporated block-chain into the freebie experience.
No such thing as free lunch, you're paying for it someway, doesn't have to be monetary.
I remember that. Though I didn't get that many freebies!