The brain is an organ of minor importance. That was clearly evident in EarthWeb's heartfelt but brain dead IPO last week that caught not only Wall Street but scores of individual investors checking their nervous functions every few seconds. Maybe they should have checked the balance sheet and stats closer. While our heart goes out to the firm for rocketing to the stars, our mind was fully engaged when it looked closer at EarthWeb's filing document.
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But the real pulse here centers on EarthWeb's claim of 1.4 million monthly users. Far cry from 1.4 million. We'll wait and see what EarthWeb reports or says on this before deciding what to believe. Let's take a look at EarthWeb's pro forma IPO numbers on the valuation side, with revenue, etc. If so, that implies a revenue multiple of 79x 1999 revenues for the firm.