Million dollar sweet dreams are made of these, ladies and gentlemen.
Narendra Rocherolle sold Webshots to http://www.excite.com in 1999 for $82.5 million. Excite went bankrupt later, and to settle off debtors, auctioned their holdings. Rocherolle and his associates bought it back at a 97% discount (!!!) for $2.4 million. Let's get to the bottom of the iceberg. The gentleman this week sold it again, this time to C|Net. At another whooping $70 million. So the next time you see a man laughing away to the bank, it's not because they changed something in the Matrix or a black cat passed by twice. Narendra Rocherolle might have cracked a deal. Again.
Trivia: C|Net also recently bought over MP3.com
Thanks for the heads up, Nick.