What Today's news gave us ....insight as to the VALUE of revo
In August 2012, Facebook Inc. acquired Instagram, a mobile phone-based photo-sharing service. Instagram was started in October of 2012, had 16 employees and reported no revenue at the time of the closing of the transaction. According to Facebook's Form 10-K Annual Report for December 31, 2012, the purchase price of $521 million included $433 million allocated to "goodwill."
Revolutionary Concepts President, Ron Carter states,
"We have been in talks with several companies regarding the acquisition and licensing of our patented system, the talks with this $50 billion multinational internet company appears to be a good fit for us with strong synergies. We're very excited because of the potential marketing of the product through the many internet and wireless based mobile communication channels that they have, and many more that are rapidly developing. If we are successful in completing the transaction of the sale or licensing of our technologies, we may not obtain a price $500 million to $1.10 billion range as in the case of the acquisitions of Tumblr and Instagram; however it does give an indication of the kinds of prices these firms are willing to pay to acquire companies with revolutionary products like ours. Based on our discussions with some of these firms, we believe we could sell or license our patented system in the high multi-million dollar range."
AI
