- Best Buy made the public aware today that they have purchased Napster for $121m.
- Napster has 700,000 users, $127.5m in revenue this year, and -$16.5m in net losses.
- Best Buy thinks it can turn the company profitable, and they feel the company is on the way up (Napster has improved since their -$37m in losses last year)
- Napster has very little competition with small companies like Apple, Amazon and now MySpace…hah.
- This is another move by the mid level executives of this world to try to make sense of what’s hot on the internet and failing. Congrats Best Buy.
Fill in the blank: This deal has a __% chance of succeeding.
Made tiny from: TechCrunch.com original post