In June SpongeTech projected a whopping $50 million in revenue for the fiscal year ended in May, up from $5.6 million for 2008. But those numbers have raised questions within the industry.
Michael Popovsky, CEO of LA-based sponge maker Spongeables, a SpongeTech rival, scoffs at the idea that a company that sells sponges with soap in them can generate $50 million in annual revenue.
"Impossible," he said. "Categorically not."
Popovsky said industry sales tend to be in the $5 million to $10 million range.
Just exactly which company do you think Popovsky was talking about with regards to a claim of making $50M selling sponges? It could only be one company he was talking about: SPNG.
According to that reporter, that is exactly what he said. She put his remarks in quotes. I guess Kaja was lying about that entire interview with Popovsky?
News 
Market Data 
Discover 
AI
