Loopt Hires Allen & Co. For Financing Or Sale

[qhoxie]

http://www.techcrunch.com/2008/11/11/loopt-hires-allen-co-for-financing-or-sale/

[startingup]

It would be nice to know some real stats, like subscribers, revenue etc. not just vaporous speculation about valuation.

[vaksel]

when companies "hire" banks to help them find financing, is it a flat fee or performance based?

[jaydub → vaksel]

I would guess that the deal is structured to incentivize the bankers to make more money for their clients.

[crabapple]

the valuation they cite is a joke. $500 million? haha i'm sorry, 2006 is gone and won't be returning. loopt would be better off claiming they are a bank and going to the TARP...probably make more with fewer questions asked!

[axod → crabapple]

1. Wait until Apple mention your app on an advert

2. Sell sell sell!!!!!!!!

3. Profit?

They don't get any traffic to their website, so I guess the question is how many people they have using their app, and how much cash does that make.

Sounds like they had to do some layoffs recently, so I'm guessing the answer is "not enough".

[alaskamiller → crabapple]

Right valuation or not, they're not going to be crying at night about it when the sale's (or new round) complete.