Q/A with Internet Brands (purchase of FlyerTalk)
Mar 7, 2007, 12:48 pm
#16
FlyerTalk Evangelist
Join Date: Oct 1999
Posts: 11,468
Far, far less than you might think. Let's see, literally no profits (first break even year was last year) so what's a multiple of nothing? Because the Web site is a possible copyright transaction - 40% federal and state tax category. Personal investment over the past almost nine years in the hundreds and hundreds of thousands. So, i'm trying to whisper but nothing is coming out. My reward? Great satisfaction in knowing that I have helped in the process of tens of thousands of frequent flyers get better at their travels..... just like the MasterCard commercial, that is "priceless" to me. Besides, it it was much, why the heck would i want to stay around for another four years - this ain't no presidential election you know!
Somehow i knew you'd be the one to ask me.... but you're no Maria Bartiromo!
Somehow i knew you'd be the one to ask me.... but you're no Maria Bartiromo!
Glad to have lent a very small support by subscribing to Inside Flyer - which I kept renewing - among other things - for being able to use FT for free.
Mar 7, 2007, 1:17 pm
#17
Join Date: Nov 1999
Location: SoCal; DO-RAGS: Old Gold tagged, PIP, LatPass 1/2, AA 4MM, HH LT Diamond, Marriott Titanium/LT Plat, Omni
Posts: 9,180
Congratulations, Randy. Given all your generosity over the years, I am glad to see some of that generosity come back to you in the form of a sale. I suspect that you picked a buyer that would keep the employees and FT mission in mind and accordingly I look forward to many more FT years ahead.
Mar 7, 2007, 5:13 pm
#18
Join Date: Sep 2006
Location: Arrecife
Programs: BA Silver, TK Silver, HH Diamond, IHG Plat AMB
Posts: 2,441
Congratulations Randy! You have developed a brand, a meeting place for frequent flyers. Make no mistake, this is no airline lounge!
We are all wealthier for your initial step to set up www.flyertalk.com, whether it be in the mind or in the pocket ^
I'm drunk so I'm going to bed! I'd send you a Boddingtons if I had one Randy!
Tell me, please, have you had a Boddies before Randy?
We are all wealthier for your initial step to set up www.flyertalk.com, whether it be in the mind or in the pocket ^
I'm drunk so I'm going to bed! I'd send you a Boddingtons if I had one Randy!
Tell me, please, have you had a Boddies before Randy?
Mar 7, 2007, 6:11 pm
#19
Join Date: May 2001
Location: RNO, NV, USA.
Programs: UA 2MM
Posts: 5,063
Congratulations Randy. Your generosity and dedication has made FlyerTalk the success it is today. Thank you for continuing to provide leadership in the future.
Mar 7, 2007, 8:16 pm
#20
FlyerTalk Evangelist
Join Date: Feb 2002
Location: El Paso, TX, USA
Programs: Kicked out of all of them
Posts: 32,554
FT was sold 
Man, hope new management doesn't read my posts, otherwise I am outta here
Man, hope new management doesn't read my posts, otherwise I am outta here
Mar 7, 2007, 8:29 pm
#21
FlyerTalk Evangelist
Join Date: Dec 2004
Posts: 23,999
Randy: Thanks so much for everything you have done, and congrats!
Just a very, very minor question:
I assume that we can no longer purchase a yearly subscription to InsideFlyer and get ad free surfing on FT? This has without question been one of the best investments I have made!^
Just a very, very minor question:
I assume that we can no longer purchase a yearly subscription to InsideFlyer and get ad free surfing on FT? This has without question been one of the best investments I have made!^
Mar 7, 2007, 9:23 pm
#22
Original Member
Join Date: May 1998
Location: Los Angeles, CA - Nearly 4 Million Actual Miles Flown
Posts: 5,522
Kind of seems like the baby has grown up and gone off to college. It seemed like just yesterday there were a few of us talking about frequent flier travel. I hope the original spirit remains.
Mar 7, 2007, 9:48 pm
#23
FlyerTalk Evangelist
Join Date: Jan 2002
Location: Greater DC
Programs: UA plus
Posts: 12,943
Randy: Thanks so much for everything you have done, and congrats!
Just a very, very minor question:
I assume that we can no longer purchase a yearly subscription to InsideFlyer and get ad free surfing on FT? This has without question been one of the best investments I have made!^
Just a very, very minor question:
I assume that we can no longer purchase a yearly subscription to InsideFlyer and get ad free surfing on FT? This has without question been one of the best investments I have made!^
Mar 7, 2007, 9:53 pm
#24
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 15,788
Hope IB doesn't find out who we all are before you have a chance to flee the country.
Seriously, Congratulations Randy!
Seriously, Congratulations Randy!
Mar 7, 2007, 10:26 pm
#25
FlyerTalk Evangelist
Join Date: May 2000
Location: أمريكا
Posts: 26,763
Congratulations on the sale!
I hope the new owners exercise as good of judgment as you have over the years.
I hope the new owners exercise as good of judgment as you have over the years.
Mar 7, 2007, 11:31 pm
#26
Join Date: Apr 2000
Location: Cleveland
Programs: AF/KLM Plat For Life/UA Million Miler-PremEx For Life/SPG Gold
Posts: 5,054
Randy-
What a total validation of your efforts!
What a total validation of your efforts!
Mar 7, 2007, 11:33 pm
#27
FlyerTalk Evangelist
Join Date: Sep 2000
Programs: UA Million Miler (lite). NY Metro area.
Posts: 15,082
Speaking for myself and many other oldtimers here, I'd like to say that I'm proud of what you've accomplished. Glad to see someone was smart enough to recognize it.
Mar 8, 2007, 1:18 am
#28
Join Date: Nov 2004
Location: Current Micronesian, Ex Buckeye....
Programs: All My $$$ Went to CO (Plat) with a Lifetime PClub membership that got degraded to United crap...
Posts: 2,089
I guess I'm in the minority here. 
Randy, you have the right to do what you want but I don't think this is a sweetheart deal like you make it sound. Those are rare, someone is going to lose in this and most likely it will be us, the people that post and read the content.
If IB wanted FT so bad why don't they introduce themselves and talk themselves. Why don't the issue statements or get in here and post. The fact that they haven't said anything (that I've seen) and refused to issue a statement has me worried right there.
For whatever reason I feel like this could be the begining of the end of FT. And I hope I am wrong.
I gotta be honest and say I hope that someone here will take the lead and start up another site so there is a place for us to jump ship to when IB messes up what you created, if that's soon or four years down the road, I hope someone will give us an alternative to go to. As I said I hope they don't mess it up but if they do I hope you can sit back and watch what happens to FT with a clear head and sleep good at night to see your creation being destroyed. From personal experience the worst thing I did in my life was sell off a business that I had little time for. To see what the new owner did to it made me ill and I felt betrayed and sick (and still do to this day).
For you personally, congrats, I hope you got what you wanted, but you could have made more if you charged a few bucks from us instead of being a sell out. I know you said it wasn't a money issue but something doesn't smell right, maybe it's all my years in business to not believe the written reports, if it sounds nice it's usually meaning that someone will get something else in the end.
I looked at their other sites and they contain very little compared to what I find in FT. What are they going to do, spend the next four years taking the content of FT to post on their other sites?
Randy, you have the right to do what you want but I don't think this is a sweetheart deal like you make it sound. Those are rare, someone is going to lose in this and most likely it will be us, the people that post and read the content.
If IB wanted FT so bad why don't they introduce themselves and talk themselves. Why don't the issue statements or get in here and post. The fact that they haven't said anything (that I've seen) and refused to issue a statement has me worried right there.
For whatever reason I feel like this could be the begining of the end of FT.
And I hope I am wrong. I gotta be honest and say I hope that someone here will take the lead and start up another site so there is a place for us to jump ship to when IB messes up what you created, if that's soon or four years down the road, I hope someone will give us an alternative to go to. As I said I hope they don't mess it up but if they do I hope you can sit back and watch what happens to FT with a clear head and sleep good at night to see your creation being destroyed. From personal experience the worst thing I did in my life was sell off a business that I had little time for. To see what the new owner did to it made me ill and I felt betrayed and sick (and still do to this day).
For you personally, congrats, I hope you got what you wanted, but you could have made more if you charged a few bucks from us instead of being a sell out. I know you said it wasn't a money issue but something doesn't smell right, maybe it's all my years in business to not believe the written reports, if it sounds nice it's usually meaning that someone will get something else in the end.
I looked at their other sites and they contain very little compared to what I find in FT. What are they going to do, spend the next four years taking the content of FT to post on their other sites?
Last edited by Randy Petersen; Mar 8, 2007 at 6:26 am
Mar 8, 2007, 4:48 am
#29
FlyerTalk Evangelist
Join Date: Apr 2001
Location: DCA
Programs: AMC MovieWatcher, Giant BonusCard, Petco PALS Card, Silver Diner Blue Plate Club
Posts: 22,297
http://ellipses.elliott.org/archives...rtalk_sold.php
"Per long-standing policy at Internet Brands, we don't disclose terms about acquisitions. However, I can confirm that Internet Brands did purchase Flyertalk.com. Randy will have an active role for years to come, largely unchanged from his role to date.
I welcome FlyerTalk to the family of travel sites at Internet Brands. Internet Brands has been a great company to work with in my experience, and I believe our site serves as proof that an IB acquisition will not change the editorial philosophy of a web site.
-- Paul Motter
-- Paul Motter
Mar 8, 2007, 5:12 am
#30
Join Date: Nov 2004
Location: Current Micronesian, Ex Buckeye....
Programs: All My $$$ Went to CO (Plat) with a Lifetime PClub membership that got degraded to United crap...
Posts: 2,089
FWIW here's what they told Christoper Elliott
http://ellipses.elliott.org/archives...rtalk_sold.php
Not drawing significant conclusions, but thought that sharing what they've actually said might be useful.
http://ellipses.elliott.org/archives...rtalk_sold.php
Not drawing significant conclusions, but thought that sharing what they've actually said might be useful.
As I say, could be time for someone to start up another site as I don't like the sound of what's going on.