It was bought by some tv producer and writer for Top Gear, the US editor-at-large for BBC Top Gear, in August 2020
it was easy to predict the fall, and someone did too:
And then in about a year, he sold it, and well, obviously when investment types try and acquire and profit from a passion project, they kill it.
They simply miss the obvious, passion projects need more passion, less economics
In October 2021, Youngtimers AG, a Swiss-listed company (YTME: SIX) that owns and operates several businesses in the collectible cars space including Italian restomod company Garage Italia Customs S.r.l., acquired Petrolicious
They've lost more than half their stock value since then.
"Acquisition of Petrolicious assets gives Youngtimers Media the market leadership position in delivering high quality, multimedia content to the world's classic car lovers -- with a combined audience of over three million unique users across all digital platforms and brands including YouTube and Instagram, Youngtimers Media will become by far the largest specialist collectible cars media company in terms of the audience size."
And that is what's known as marketing and promotions bullshit
For the earnings report of FY 2022, the company reported revenue was CHF 3.78 million. Net loss was CHF 10.08 million.
And that is too damn bad....I always enjoyed Petrolicious.
ReplyDeletewhile the original owners had it, it was good. That's the problem with so much in this world, only the original is worth a damn, imitations suck. Inheritors run a business into the ground, and wipe out the fortune, or good reputation, of most businesses. Look at Sears for example. It was incredible for about 70 years, then dead
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