back to article Phorm incinerates $50m in 12 months

Phorm was forced into deep cost-cutting after its controversial battle to monitor and profile web users burned through an average of more than $4m per month last year, its financial results today reveal. The behavioural targeting outfit, whose operations are headquartered in London but which is registered in Delaware, reported …

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Puts a smile on my face, it does

http://www.google.com/finance?q=LON:PHRM

Oh yes, it really, really, does.

Of course, if they deploy in Korea and Europe eventually rule that they require the permission of website owners for interception (unlikely, I know, but bear with me)... couldn't they be prosecuted here for intercepting a UK-hosted site with their server in Korea...?

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50 million .....?

How on earth have they managed that ?It's not as if they employ many folks, or have much in the way of running costs you would think. Executive renumeration packages ?

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N2

Burn in hell

Lets hope It burns itself to death ASAP

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Pirate

Die Die Die

Do us all a favour Phorm -- curl up and die -- the sooner the better.

That is all

Pirate because I'm a privacy pirate.

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"The government told privacy campaigners it would not make public the content of the response"

... for the sake of their own privacy which is obviously much more important than the privacy of the rest of us .... we are just the electorate.

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Paris Hilton

$1.8m a month ?

What the hell are they spending it on ?

$82.6m in two years ??

Smells like someone using investment capital on the stock market to me.

PH - as she would know what to do with a packet that size, and would make it bigger !

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Makes no difference

With IMP, I'll be getting VPN out of the country anyway.

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Coat

$4m / month?!?

I had a girlfriend like that once...

Mine's the one from Oxfam.

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Mmmmmm

Mmmmmm... the smell of burning money.

Die, already.

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oh dear god

when will this chinese wet dream end !

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"The government told privacy campaigners it would not make public the content of the response."

"The government told privacy campaigners it would not make public the content of the response."

Great, thanks Gordon - so much for 'open goverment' or is that just selective??

We won't forget you in a years time though - the problem is will the Tories be any different than Labour with their massive majority.

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$2M a month

A bit on hardware, a bit on salaries and executive compensation, a bit on a website, a bit for Normal Lamont, and the rest on "expenses, including hospitality".

$2M a month doesn't go far these days you know.

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Pirate

And what rough beast?

>Phorm's problems in the UK had prompted its push into Korea. It is currently running a trial with Korea Telecom<

Like it ran trials in the UK with BT? Business very much as usual. Whilst BT still maintain ignorance (at least first line support who won't get someone to phone you back about thier position even after promising faithfully), still seem committed to rolling it out, and now Virgin have promised (Universal Music is it?), that they will kick off filesharers, it seems like Phorm would be a cheap way of DPI-ing their customers online habits.

>The government told privacy campaigners it would not make public the content of the response<

Secrets and more secrets - this government doesn't want us knowing anything it does whilst watching everything we do. How is keeping this information from the public protecting us from terrorists?

Whatever happened to Great Britain?

If Hitler came to power today, I'm not so sure this country wouldn't be on his side, we trade spying tips with the Chinese, we're complicit with questioning tortured prisoners. The ruling elite suck on the teat of public finances whilst rewarding bankers who nearly crippled the global economy...

Yeats said it best in 'The second coming'...

...Things fall apart; the centre cannot hold;

Mere anarchy is loosed upon the world,

...The best lack all conviction, while the worst

Are full of passionate intensity.

...And what rough beast, its hour come round at last,

Slouches towards Bethlehem to be born?

Proud Privay Pirate!

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Anonymous Coward

That's a lot of cash

I can't say that I'm too sorry to hear that they're running out of money, but I do have to ask where is all that cash going?

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@ Jeremy3

Don't get too overheated by this statement. The contents of this reply will come out sooner rather than later I would have thought.

It always does...

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Burn Phorm burn!!!

Burn Phorm burn!!!

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Anonymous Coward

Dear Phorm...

Take a trip to Bangkok

Check into Nai Lert Park Hotel

Find the nearest wardrobe

& follow David Carradines example...

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LOL "adequate"

It's the new "Screwed"

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Pirate

@ Hairy Scary

"Pirate because I'm a privacy pirate."

Does that mean you take people's privacy away from them by force? Sounds pretty much like Phorm to me.

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@Jerome 0

You haven't been keeping up with current events have you? Kent from Phorm declared anyone who opposed him to be a "privacy pirate".

It was less than 2 months ago

http://www.theregister.co.uk/2009/04/28/phorm_blog_oddness/

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Anonymous Coward

That better not be UK investment money

I thought the Russkees were good at coding, jeepers it is just a data tap and a bit of pattern matching.

Hardly cutting edge stuff. Bozos not only do they do something that is basically unethical and should be illegal that virtually every ISP and developer has thought about in the past, they spend a fortune doing it.

Pathetic.

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Hum

Briefing on the Interception Modernisation Programme

We are aware that the Government is testing some DPI-kit with at least one major telecommunications provider and that funding is already allocated for the scheme.

Connection perhaps

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Unhappy

Where is the money going?

Presumably bribing (sorry that should be spelt "lobbying") MPs.

@Aimee: I don't usually go for conspiracy theories but I think you might have something there...

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Every Cloud has ITs Silver Linings and Lode Bearers for Stripping Assets

I wonder if Phorm Phishing has landed them a Champion to Invest In as a Driver for Virtual Growth.

A Meme discovered which shows Exceptional Promise and delivers IT in AIR&dDs to XXXXStreams. One of those Type Luscious Lucy Programs.

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Pirate

@jsp

The sad fact is you're not far from the truth, that and hiring expensive lawyers to twist, turn and bend the words of the law to justify this travesty.

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Black Helicopters

Phorm Bullies Third World Governments

So there it is. Apparently, if Phorm cannot make headway in wealthy nations with strong democracies --- such as the UK, US and Europe --- then it will move down the national foodchain to countries with weak or bribeable governments.

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Investment

"Phorm topped up earlier this month up by selling off 20 per cent of its equity"

Who on earth was daft enough to buy that? Don't tell me - a pension fund... :-(

BTW, isn't Delaware where SCO is registered? It must be a sort of 'flag of convenience' place, like Liberia.

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Can we

Pay someone £50 million to incinerate phorm?

Seems a much more logical way to burn it....

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Time to die

With any luck this is Phorm doing what they do best, being utter c**ts, in this case spending as much of foolish investors money as they can before the whole thing implodes!

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Phut!

The sound of Phorm vanishing up its own ports.

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Anonymous Coward

HO HO HO

In my opinion anybody who invests in this ex spyware company deserves 1st degree burns on their fingers when they finally crash and burn. I think nearly everyone will reject this outfit intercepting their web data once the cat gets out of the bag informing people as to what is really going on.

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Real life apes yes Minister once again

Sir Humphrey: How's the Freedom of Information campaign going?

Former Whitehall mandaring: I can't tell you.

I find it hard to believe that this letter is a National Security matter. It's corrospondence to a Government Department.

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Good.

I can't wait to watch phorm finally die.

What are they spending that much money on?

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Pirate

Privacy pirates

"Kent from Phorm declared anyone who opposed him to be a 'privacy pirate'."

Er, that's kind of my point. If anyone's a privacy pirate in this sorry tale, it's Mr. Ertugrul.

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Anonymous Coward

Blimee...

I know successful IT companies that actually have a product in the market with a lower turnover than Phorm can burning as a loss!

What the hell are they doing with it all?! Any VC who threw his money towards them had best get off the golf course and actually attend a board meeting PDQ!

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@James Pickett

"isn't Delaware where SCO is registered"

Correct. Deleaware's corporation formation rules are quite er "relaxed." Fewer annoying questions about who *owns* the actual shares. They also have IIRC Microsoft is (among a *long* list) also based there. No AFAIK they do not have an actual office there.

Of course there are many reputable companies who have their registered office there as well.

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Phormaldehyde

I'm happy to chip in 5p towards funeral expenses!

I take it it'll be a cremation?

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Anonymous Coward

None

"I can't say that I'm too sorry to hear that they're running out of money, but I do have to ask where is all that cash going?"

Well city and national politicians arent cheap these days.

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We have this on our site

Forgive the moderately shameless plug, though if more sites did this, perhaps more general awareness would be raised and hence more pressure on BT et al... ?

http://fonovation.com/home/67-phorm-free-browsing

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Phorm Phactor

£80 million for nothing. C'est phormidable. How much margin do they need to make to recover past losses?

Unless it is some phorm of money laundering exercise, it is an unphunny joke.

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