Impervious horrors of a leeward shore (arpad) wrote,
Impervious horrors of a leeward shore

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Израсходовали более чем $60 миллионов за три года. На создание никому не нужной БАЗЫ ДАННЫХ. И ведь кто-то им эти деньги инвестировал.

Как это говорилось в стране победившего коммунизма "была проделана большая работа".

Austin Busines Journal
April 18, 2003

Six of Agillion Inc.'s former top executives have been sued by a U.S. bankruptcy trustee for the legendary spending sprees that bankrupted one of the most well-financed and well-known high-tech startups in Austin.
The suit comes well after Agillion burned through more than $60 million in less than three years -- and nearly two years after the company filed for Chapter 7 bankruptcy liquidation. At its zenith, the company employed about 125 people.
Agillion, which offered a Web service that helped businesses maintain vital information about their customers, filed for bankruptcy in July 2001 with about $100 in the bank. Just 15 months before, Agillion had $30 million in the bank, according to the suit.
The 17-page lawsuit -- filed by Donald Taylor of the Austin law firm Taylor & Dunham LLP -- contains a detailed list of events outlining Agillion's spending habits.
Among the events listed in the suit:
· Spending more than $3 million on a 30-second commercial during the 2000 Super Bowl. The spot aired a month before Agillion launched its product.
· Spending about $500,000 to take all Agillion employees on an all-expenses-paid trip to Cabo San Lucas, Mexico.
· Despite earning only a "few hundred dollars in the U.S.," Agillion opened an office in Australia, which closed six months later.
· Agillion entered into a $13 million, 10-year lease at Stonecreek Park on North MoPac Expressway that the suit alleges was "lavish and unnecessary."
· Tripling the size of its workforce only to lay off many within months.
· Spending more than $430,000 during the first three months of 2000 to sponsor several events, such as South by Southwest, "Austin City Limits" and the 360 Summit.
· Spending "tens of thousands" of dollars on several company parties, such as a "Casino Night" Christmas party in 2000 and a Super Bowl party at Dave & Buster's, where Agillion bought 168 bottles of wine

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