eBay + Fraud Sciences = ?
In late January we have heard of eBay acquiring an Israeli security firm Fraud Sciences, reportedly to help make eBay PayPal a safer place, although it was rumored on TechCrunch that:
January 28th, 2008 at 11:10 am
Guys, it’s an inside job. The new president for Paypal knows the VC firms for FS and his first act of president is to help out his friends by buying some no-name fraud company. BTW, some factoids, 1) revenues weren’t $10M a year, they were $1M their last year, 2) It wasn’t $169M all in, but that was based on performance expectations which will never be met because they just alerted all their customers they were closing their doors and killing off any revenue streams …
OK, it’s three months later… How is that x million investment doing? I sincerely hope that millions of investor’s funds are not just squandered away. Security area is a best place eBay should invest some capital and we would like to get some upates on what’s new and exciting following this acquisition.