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Fast Financials

     
11:02 am on Mar 13, 2001 (gmt 0)

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Some very interesting reading in the Fast q4-2000 report:

[fast.no]

Total 2000 billed revenue of $18m
Q4 revenue growth of almost 60% quarter on quarter
Doubling of people in product development and sales in H2
33 sales contracts signed in 2000 13 of which were signed in Q4

6:03 pm on Mar 14, 2001 (gmt 0)

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And an operating loss of $306,2 million with $24,1 million at hand in cash and venture capital drying up world wide. Hmmm....

Found this interesting: "Our Internet Search product, showcased at AllTheWeb.com..." The word "showcased" seems to confirm that Fast is really in the software business, not in the search engine business. I remember there was some speculation about just that here at WmW last fall.

7:17 pm on Mar 14, 2001 (gmt 0)

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> And an operating loss of $306,2 million

What I still cannot fathom about internet businesses: What in heaven's name do they do with ALL THAT MONEY???

I imagine most web companies could find an awful lot of fat to cut, if they actually wanted to become profitable.

10:22 pm on Mar 14, 2001 (gmt 0)

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If they are located near the Bay area it's probably just living expenses. I worked in that area 2 years ago on loan from a company in Southern California. I was amazed at the prices for things, such as milk. Only 8 hours away by drive, and ouch! You would think they would relocate to someplace alot cheaper to operate.
1:48 pm on Mar 20, 2001 (gmt 0)

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Erm...Norway...actually.
4:33 pm on Mar 20, 2001 (gmt 0)

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... which is just about the most expensive place you can be in. The border trade with Sweden is of unbelievable proportions. Gargantuan. Even alcoholic beverages. For those of you who have ever picked up a bar bill in Sweden - and survived - that is simply mindboggling. The Bay area is a bargain basement by Norwegian standards.
2:07 pm on Mar 23, 2001 (gmt 0)

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But if you look at their year end report, most of last years expenses were due capital expenditures on infastruce and expansion - not on overhead.

TomFromFAST

2:20 pm on Mar 23, 2001 (gmt 0)

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Hi, I'm the VP Marketing from FAST. The big losses displayed in our financials are an accounting issue related to stock and warrants we sold to Lycos and Dell when they invested. Its not a cash loss. We'd have to be buying gold plated servers! :)
2:26 pm on Mar 23, 2001 (gmt 0)

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Hi Tom, thanks for stopping in!

How is the outlook for this year?

2:38 pm on Mar 23, 2001 (gmt 0)

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Welcome to WmW Tom