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For-profit Pie Adblock (from the founder of Honey) called out for copying uBlock Origin open source code without credit (www.theregister.com)

submitted 3 days ago by dantheclamman to c/technology

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[–] [email protected] 3 points 2 days ago* (last edited 2 days ago)

Companies that aren't profitable get bought all the time for ridiculous amounts of money not because they currently make boatloads of money, but because they have a huge userbase and brand recognition, and the buyer thinks they are the geniuses that can make it do that. Yahoo paid 1.1 billion for Tumblr - since sold to wordpress for 3 million - and Musk 44 billion for Twitter - now worth a fraction of that - for example.
That is exactly why they often go to shit only after they have been bought.

Fwiw, Honey did around $100 million in revenue back in 2018. That's 40 times less than what they were bought for, and that isn't even profit, but just how much money they received before all their business expenses were paid.