I was employee #135 at Saleslogix in 1998 and we had 700 people by 2000. My net worth rose from $30K to $470K and I became architect for a successful followup product which paid for itself in ten months. It's still in use and probably earned $50 to $100 million. But then the Dot Com boom ended, stock market crashed and SLGX ran out of cash.
Last week I found an almost new SLGX cap for $9 so I added it to my collection.
Similarities of SLGX to Twitter:
- never earned a profit in six years
- the stock skyrocketed 100% its first year
- egotism superseded business sense
- cashflow forced the owners into a buyout
- new owners took the company private
- about 70-80% layoff in 2001
And like Twitter, the company did some sketchy stuff to boost the stock price. Elon's making legal noises now so I suspect click-fraud against Twitter's own advertisers will be exposed and it appears the C-officer payday is canceled "for cause". But we might also see references to election fraud and collusion with the State department. Elon's got all the data now.