Hyro and Blue Freeway continue the fight
Two digital marketing firms that rode high in Australia’s business stratosphere are continuing to struggle, updates to the ASX have revealed.
Digital marketing and technology company Hyro published an announcement to the ASX yesterday in which it revealed a restructure following the company making a loss in 2008. And Blue Freeway is continuing to lose significant amounts of money, it revealed in an ASX posting.
In the update, Hyro said it had reduced costs and restructured “in response to the poor results delivered in 2007”. However, it still made a full year loss for 2008 “because of unusual and unexpected external factors which had a material, adverse influence on the business”.
The company, which in early 2007 saw its share price peak at above 30c, is now trading at $0.016.
Did you want to take up the torch of following the shares?
I havent posted since Oct
http://www.bannerblog.com.au/n.....atch_5.php
I’m thinking of starting an index. I bet I can work some Google apps graph-based magic…
Greg Daniel, Shane Murray, Nick Greiner, Did Michael Hannan see part 1 at BMC Media before getting burned for $27 million? I guess we can always blame Anthony Bertini.
you might like to add facilitate (ASX:FAC)to this list. They purport to own the adserving market in AU but due to ill conceived expansion to the UK and US are down to their last 600k. These guys service some major clients (optimedia. fed gov) who will be very surprised when they fall over.
a friend of mine works at one of the bluefreeway companies and tells me that things have changed out of all recognition in the last 12-months. in the absence of a group strategy the companies have finally come up with ones of their own – which sounds like good news, even if one strategy is back-to-the-future (www.ozhosting.com)
Blue Freeway’s email marketing firm tried to gain market share by undercutting competitors by 75%, devaluing the industry and buyers perceptions of value for services. Appalling management, a shame for the employees, but hard to feel sorry for the so-called-brains behind this business.
Darren, interesting comments. Which email marketing business (they have several) and which management (current or previous). Last time I looked at this stuff Traction and Campaign Master were both pretty pricey….