Earnings: Kids Ad Network GoFish Narrows Losses
This story was written by Rafat Ali.
GoFish (OTCBB: GOFH), the San Francisco based kids online ad network, has reported its Q208 numbers, and narrowed its losses from $5.9 million in the year-ago quarter to $3.6 million in Q208. Revenues were $1.28 million, a huge jump over revenues of $31,686 in Q207. Earlier in June, the company announced Tribal DDB Worldwide Founder and former CEO Matt Freeman as its new CEO. The company's original focus was on older children and young adults, but it recently decided to aim at "the 6-17 year old demographic and their co-viewing parents," according to its SEC filings, picked up by BizJournals. Meanwhile, it did save some money on cutting jobs: it halved the number of employees in general and administrative jobs from 10 a year ago to five at the end of the most recent quarter. It also cut product development jobs from 14 a year ago to 5 as of June 30. At the same time, it bulked up its sales staff in the same period, though, more than doubling from 10 people to 25.
More details in release, and its 10-Q.
By Rafat Ali