August 9, 2007
Fast Search & Transfer in trouble
The Norwegian newspaper Aftenposten/business site E24 reports that Fast Search & Transfer is loosing out on the stock exchange.
The stocks of the Norwegian search company have lost two thirds of their value in one and a half year.
The explanation is simple: The revenue is not in harmony with the company’s expenses. Too many customers are not paying enough for what they get.
“Have the engineers been given too much leeway and spent too much time on the fun stuff?” Aftenposten asks.
CEO John Markus Lervik admits that the company has been too much technology- and sales-driven.
Filed under Search Engines by PSKoch
