"Meanwhile, tucked away in the bankruptcy filing was the disclosure that the net book value of Moviefone’s intellectual property is estimated to be $4,379,504. That’s just 1.1% of AOL’s $388 million stock deal for Moviefone in 1999, right before the internet bubble burst."
Amazing how some companies can devalue faster than Venezuelan currency...
Actually, Moviefone lost 99% of it's value in 20 years. The Venezuelan Bolivar's inflation rate was 130,000% in 2018 - or to put it another way, it lost 99.999% of its value in that single year.
"Meanwhile, tucked away in the bankruptcy filing was the disclosure that the net book value of Moviefone’s intellectual property is estimated to be $4,379,504. That’s just 1.1% of AOL’s $388 million stock deal for Moviefone in 1999, right before the internet bubble burst."
Amazing how some companies can devalue faster than Venezuelan currency...