Microsoft admitted yesterday that their largest acquisition to date in the Internet sector was basically worthless and with that, killed any bottom line profit they have earned for the last quarter. They number… $6.2 billion US in losses. Every penny of it a write-off however the online ad agency they purchased just five years ago, known as aQuantive, was originally expected to bring Microsofts online ad revenue up to that of Google. This brings their share value down to a measly $30.35 per share on the stock market and while nothing to shake a stick at, not quite what the plan was supposed to bring in. Read the full story here.
Six Billion dollars US plus! Gone, all on one bad investment