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Reader Comments (13)

Posted: Apr 23rd 2008 1:51AM (Unverified) said

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"effectively making it awkward to find him in Second Life's built-in search system."

(Background: SL search requires search terms to be 2 characters or more, or they are ignored.)

Amusingly, that was my first thought on hearing the name. But I guess it makes sense that you can't find M... seeing as how he's leader of a top-secret British government agency.

*walks halfway across a white screen, turns and fires her watermelon launcher, then hums catchy music as pink goo drips down the screen*

Posted: Apr 23rd 2008 6:03AM (Unverified) said

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There's actually been a rumour floating around for a while that the new CEO has been in charge since Phillip stepped down. The rumour goes on to say that the new CEO would take them to an IPO.

Posted: Apr 23rd 2008 6:06AM (Unverified) said

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and soon.
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Posted: Apr 23rd 2008 6:30AM (Unverified) said

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Well, Kingdon would be just about the ideal CEO for LL to do it. However if they had pretty much everything within the company ready for an IPO, it would likely be 18 months from now.

They really take a long time, and most of that period it is publicly visible.

The problem is that an IPO doesn't make sense for Linden Lab. IPOs don't make sense for every kind of company -- one of Kingdon's previous posts (PricewaterhouseCoopers) is a gigantic _private_ company. They never did it themselves - it didn't make sense for them.

Rumors about a Linden Lab IPO have been going around since 2003 or so. I'm not sure that they're any more credible today than they were then, though.

"It seems like about the dumbest move they could make", to quote an old boss of mine.
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Posted: Apr 23rd 2008 7:03AM (Unverified) said

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Personally, I agree with your old boss. However, I know some very well-credentialed people that have loads of experience with this sort of thing hold the rumour to be credible and, two in particular consider it likely. That said, even the most-experienced people make mistakes as demonstrated at: http://www.bvp.com/Portfolio/AntiPortfolio.aspx
=)

Posted: Apr 23rd 2008 7:08AM (Unverified) said

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I have to wonder what Linden Lab would gain from an IPO that they don't already have.
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Posted: Apr 24th 2008 8:39AM (Unverified) said

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The frustration of servicing debt from external sources that don't necessarily have the continued existence of the metaverse as a first interest?

The danger of being bought out by another developer with the right finanical alliances?

/Oh, you meant 'benefits to be gained', right? xD

Posted: Apr 23rd 2008 8:23AM (Unverified) said

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LL or the VCs? Remember Phillip's conversion to chairman happened within hours of Gartner's 'SL is bad for business' article. Probably coincidence but if the VCs have lost faith they maybe looking for a new direction or just to cash out. Pure speculation on my part btw. Better, and prettier, heads than mine will doubtless put me straight =).

Posted: Apr 23rd 2008 9:34AM (Unverified) said

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I really can't see an IPO on the horizon - too much possible competition on the horizon. Would you buy in just as other, possibly more popular, virtual worlds were starting to appear? With the probable mass migtarion of current premium residents?

Posted: Apr 23rd 2008 12:04PM (Unverified) said

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That maybe a reason to do it now. The VCs may have lost faith in the future profitability and want to cash out while SL is on top, or an external threat (ie credit crunch) may have forced their hand. There are reasons to IPO asap and just because they're not in the best interests of LL doesn't mean they're not in the best interests of the investors. Just sayin'.
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Posted: Apr 23rd 2008 6:33PM Jouka said

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Hopefully he shuts down secondlife. SL=glorified social network, not a mmo.
~

Posted: Apr 24th 2008 2:42AM (Unverified) said

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hi ,my name is lingling

Posted: Apr 24th 2008 4:39PM (Unverified) said

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Here's what seems interesting about Kingdon's recent experience to me:

At Organic he took over as CEO, a post formerly held by the company's founder, after the dot com bust when the company was at a low ebb. And Organic was in better condition on the day he left than it was on the day he arrived.

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