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Bluefreeway; the bridge is out January 30, 2008

Posted by David Gillespie in industry news.
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Simon Chen has a nice (if you can call it nice) wrap-up of the day’s events. Richard Webb, founder and CEO of Bluefreeway is out, as is the CFO Ken McDonnell. The share price is currently at 39 cents, back up from a low today of 26 cents, but even the offering of 76 cents a week and a half ago seems a distant and far-fetched dream now. A person who works at Bluefreeway swung by today and said they will be focusing on portfolio companies, and tagged a good deal of braggadocio on the end of it. I’m mad for a bit of defiance in the face of adversity, though it tends to carry more weight when your parent company has the cash to make good on the threats.

Best of luck to everyone affected by these developments, please feel free to share your experiences below or get in touch.

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Comments»

1. God - January 31, 2008

Simon Chen should stick to doing what he does best – nothing.

2. David Gillespie - January 31, 2008

God, such a pleasure to have you by; sure to see of any doubt we had about your existence. Now if you could make the comments constructive or in some way useful, even remotely based on fact, that would be great.

Best wishes, your unwavering disciple.

3. For anyone following the Bluefreeway saga « Wide Open Spaces - March 3, 2008

[…] For those needing some background, read this, then this, and then this. […]


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