& Pettis joined Ecomom in October 2012 as the company’s first audit. The company has never set up the position of chief financial officer. He is the chief financial officer outside Sherman and outside accounting and is responsible for managing invoices, statements and financial matters.
and Ecomom never achieve monthly earnings.
recent competition in the domestic online advertising market is also growing. sh419 launched by effect pay advertising platform, Ali mother launched the new three package plan, have invested heavily to expand the market. According to CNNIC released the "twenty-second China Internet development statistics report" shows that the number of Chinese websites reached 1 million 919 thousand, an annual growth rate of 78.4%. Online advertising is considered to be the first link of e-commerce promotion. Caifutong merchants "bicycle" that in the use of advertising exchange platform, "caifutong launched self-service advertising exchange platform is not surprising, but the Internet platform network stores provide advertising resources, much better than other conventional advertising and small website value high."
industry analysts pointed out that the money paid through the advertising platform for their businesses to build a smooth two-way communication between advertisers and advertising media channels. Pat the owner of the network, the money paid by merchants and so on, will become a financial payment through the advertising platform potential advertisers. Through the integration of Tencent’s products and website resources, and the use of financial payment through convenient payment channels, financial payment through advertising platform will achieve greater value breakthroughs.
the question I would like to try to answer is what happened to the company’s cash flow at the end of last year,
is Philip Pettis Philip Prentiss who is responsible for organizing Ecomom’s last few months of financial statement data. According to Pettis, the company’s aggressive discount selling culture and Sherman’s lack of financial knowledge led to the disappearance of the company’s book assets.
last week, we reported news of the failure of Ecomom, the founder of the electricity supplier, and the death of founder Judy Sherman Jody Sherman. Judi shot himself at the end of January, and two weeks later, Ecomom became a creditor to sell the project and enter bankruptcy proceedings. Today, the company updated its Facebook and website information and announced that it had been acquired by etailz in late March and that the site will be re launched this summer.
we posted this financial report online and didn’t do anything about it. Here are some key points. Note that this is not a summary of the Pettis report, nor does it represent our view:
currently has more than 50 million registered users and more than 28 cooperative merchants, which can form a new media platform of great value. Financial pay through relevant market personnel told reporters, "the introduction of the advertising exchange platform, it is aimed at 28 million cooperative merchant website advertising resources of the long tail.". By guiding them to swap resources, they can speed up mutual promotion among merchants."
& Ecomom’s first month was in good shape, although the company lost $500 thousand. The income statement for October 2012 is approximately as follows:
three people are familiar with the company’s financial position. One of them was Darin Marinov, an outside accountant who declined to comment on the article through his lawyer. The other is Judy Sherman himself. The third, the company’s internal financial audit in October last year, joined the company three months before it was forced to close.
this article comes from Business Insider, tiger sniffing compilation
recently, the use of money through the merchants will find that in the money paid through the merchant website, more than a "advertising platform" site. According to the website, this is caifutong launched a new ad exchange platform ae.tenpay, to pay for the goods merchants third parties to provide advertising resources exchange services, to accelerate the promotion of mutual assistance between businesses.
& gross profit: 46%
Ecomom was surprised by the twists and turns that had been spent, forced to shut down, and then bought. Six months ago, the company raised $5 million, raising $12 million in total. And Sherman did not leave any words to explain his behavior.
& Revenue: 322
it is understood that as long as the use of the money paid through online payment platform as a web site, shop can be made by the third party partners. Then, a partner can exchange advertising points on the site in exchange for platform points through the ad exchange platform, which can easily be used to exchange high-quality advertising sites offered by other websites. At the same time, the financial payment will also rely on Tencent rich business line, put on a considerable scale of advertising, directional news, pat Network, recommended bits and other promotional resources to the advertising exchange platform for the exchange of business partners to share.
& sale costs: 173