Overstock Takes on eBay

Overstock has announced that it is taking on eBay in the auction space. This is a tall order for anyone–it would be for a company the size of Microsoft–but I don’t want to underestimate Patrick Byrne and the Overstock team because of their passion and drive to succeed. The stock has been doing quite well this year and this announcement shouldn’t hurt.

I believe Overstock CEO Patrick Byrne is speaking at BYU on Friday. I just found out my brother Curt Allen (CEO of Agilix) and my nephew Richard Culatta are also on the program. If you live in Utah, you won’t want to miss BYU’s eBusiness Day.

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Infobase Media Corp Closes Series A Investment Round

Infobase Media Corp, parent of LDSAudio.com, today announced that it has raised $1.15 million to develop content offerings (electronic text, audio and video) for multiple markets.

The company has a great team, a great vision of aggregating content and delivering it in multiple media formats to online consumers. The company has already begun publishing religious content in text and audio formats; additional niche markets will be announced later.

Audible.com has experienced a tremendous run in their stock value over the past two years. I bought Audible.com at around $0.50 in the summer of 2003. The stock is now trading for more than $19 per share. (Unfortunately I sold mine a long time ago, after locking in very nice returns.)

There are a growing number of successful digital content companies. Infobase Media Corp. hopes to be among them.

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