Freeride Article - doesn't look very good...:( :(

[Tiggers Lady]

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I must admit, I found this on another board, but wanted you all to read this. Here is the article in case you can't access:

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"Another Web site, Freeride.com, which allows users to earn points to buy stuff, cut about half of its staff, based in New York City.

"We had a meeting with executives two weeks before, saying things are tight, but that we have enough money until the end of the year. Two weeks after that, they fired everyone," said one employee who didn't want to be identified. "They had a huge meeting where they gathered us in the hallway."
The Freeride.com employee said he was attracted to the job more for the down-to-earth atmosphere rather than the options. Plans to take the company public never panned out.

"People who go to work at these companies are relatively young, and they're doing something fun and aggressive and they're living on the edge," Boone said. "They're not looking for a pension. It's more about the work environment."
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While it certainly has been very good to us, time will tell. I hope they make it past the end of the year...if any shopping need be done, let's try and do it through them, it could only help...they've been very good to us.


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Yadda Yadda Yadda!
TiggersLady@dealofday.com

[This message has been edited by Tigger's Lady (edited 11-14-2000).]

[The Bunny]

Wow, I'm sorry to read that. I am REALLY hoping that Freeride pulls through. I wonder why they so drastically increased our point earning opportunities a few months ago? I wonder if that helped lead to their current problems?

[marcirpal]

I was just coming to post this. I think it's really bad news for them and for us. Mypoints just took a HUGE downturn of their stock again and the CEO quit. Sounds like things aren't doing so well.
Glad I cashed out every chance I could. Really sad.