Wednesday, May 3, 2006

Hand-On/Mforma: $100 Million Revenues Expected This Year; Dissing Glu


Said Hands-On CEO Jonathan Sacks in this story: The profitable SF firm is on track to bring in "well over $100 million" in sales this year.
And Sacks is growing arrogant in his supposed position as the biggest independent mobile content company in U.S.: "Glu [Mobile] is like a wart on my ass. It's not even in my league." The story says Glu is roughly half the size of Hands-On in terms of revenue, but its game business is arguably on par. Glu's unassuming CEO Greg Ballard said the companies will have to wait until one or both go public to discover the truth. "Some day, both of us will have our 'locker room moment' where we'll see the real size of both companies," he said. "When that happens it'll be a lot easier to make those comparisons."
Also, Hands-On is preparing for an IPO by the end of this year: it is hiring legal and financial specialists in SF to work with general counsel Jim Brelsford and VP of HR Paul Bianchi.

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