By Walt Hickey Liking Numlock? Forward today’s email to a friend you think may enjoy it and might subscribe. Money To Keep A Ridiculous Business Open Helios and Matheson, the company behind MoviePass, secured a $6.2 million loan from Hudson Bay in order to survive the weekend and continue to prop up their ridiculous and frankly inspiring business model of basically unlimited movie tickets for $10 per month. MoviePass had a service interruption last week after running out of cash, and lost 70 percent of its stock value on Friday. I shudder to think about the interest rate on a loan to MoviePass and can only imagine that terms absolutely involved at least one human soul.
I think the MoviePass model is so amazing and mind boggling. Are companies getting huge without an actual way of turning a profit a new thing? Twitter and MoviePass are great new examples. Anyone know a time before the internet when a company did something similar?
I think the MoviePass model is so amazing and mind boggling. Are companies getting huge without an actual way of turning a profit a new thing? Twitter and MoviePass are great new examples. Anyone know a time before the internet when a company did something similar?