SEC Charges Eleven in Stock Manipulation Ring

[janice shell]

Yes, the first sale was to CMGI. Then the dot.coms crashed, and Lycos picked up RB. At one time, they employed something like 200 admins; within a couple of years that number had shrunk to a mere three. Some were just let go; others left because they couldn't handle the traffic.

It was a terrible website when it appeared in 1998; impossibly slow and glitchy. Yet it attracted the penny stock crowd from SI, and that is what made it so popular.

Of course the prices paid for SI and RB in the late 90s were insanely inflated, but I'm sure Matt dreamt of making out just as well, if not better.

That didn't happen. And so he found another way to make money. That was a temptation he should have resisted.