In 2005, Yun Ye sold his portfolio of 100,000 names to Marchex for $154 Million.
Today, Marchex's market capitalization is less than $107 Million:
MCHX: Summary for Marchex, Inc. - Yahoo! Finance
Marchex is losing money; Yun Ye was making $19 Million per year in parking revenue.
Funny thing is - if Yun Ye put his money in the bank, he could buy Marchex up and still have tens of millions of dollars left over!
It goes to show - development really only pays if you know what you're doing. And you still need to stay really lean when you're developing. Even with parking revenue down, it's not such a bad business model.
Today, Marchex's market capitalization is less than $107 Million:
MCHX: Summary for Marchex, Inc. - Yahoo! Finance
Marchex is losing money; Yun Ye was making $19 Million per year in parking revenue.
Funny thing is - if Yun Ye put his money in the bank, he could buy Marchex up and still have tens of millions of dollars left over!
It goes to show - development really only pays if you know what you're doing. And you still need to stay really lean when you're developing. Even with parking revenue down, it's not such a bad business model.