*New items: The company is supposedly based in Hong Kong in addition to New York. It’s supposedly profitable on $20 million of revenue. VentureBeat think it’s going public in 6 months (thus the press release in New York and the name: AmeriTV). We think it’s a joke.
Today’s top candidate for a fake press release:
HD AmeriTV™, the world’s first broadcast-quality Internet television service, today announced that five selected parties have collectively invested approximately $45 million in the company. Each party invested in a minority percentage of the company…
First because it boggles the imagination that sophisticated investors would dump $45 million into yet another Internet TV company. Second, no web site (at least not one that comes up immediately in a Google search). Third, mostly undisclosed backers. Fourth, supposedly intelligent investors can’t even hire someone who speaks English. Fifth, because of the laughable lengths to which the parties go to make themselves sound important:
- “Founded in January 2004 is powered by a secure, efficient, Internet platform that enables premium interactive, advertising-supported, video experiences while providing copyright protection for content owners and creators…”
- “First Mutual Credit, a leading European investment banking firm, which invests in impactful technologies that have global reach, led the round with G Trade Securities, one of the premier venture capital firm in the world. G Trade in conjunction with First Mutual Credit have been the first investor and business partner in companies that make up 10% of the NASDAQ’s value. In combination, First Mutual Credit and G Trade bring unrivalled expertise and alliances in Europe, Asia and North America.”
[Hands up–who here has heard of this “premier venture capital firm” that is responsible for 10% of the NASDAQ’s value? Observation: The world’s premier venture capital firms don’t describe themselves that way.]
Maybe it’s not a joke. Maybe it’s just a terribly written press release that makes a promising company and its backers sound like a joke. Maybe the company just hasn’t launched its awesome web site yet, even though it was founded in 2004. Maybe the backers didn’t have time to read the release and see that it made them sound like idiots. Can anyone clarify?
Follow-Up: Joke, or inept? Your call.
More puff on the parties below:
About HD AmeriTV™
HD AmeriTV™ provides a new way of watching TV that combines the best of full-screen television entertainment with the interactive and community benefits of the Internet to bring broadcast-quality video to viewers anytime, anywhere. Based on a state-of-the-art, secure, peer-to-peer streaming technology, HD AmeriTV can be accessed with a broadband Internet connection and offers video content to viewers for free.
About First Mutual Credit
First Mutual is an international, specialist investment banking group that provides a diverse range of financial products and services to a select client base.
Founded as a online securities company in 2000, we have acquired various regulated entities and competitors in a bid to become a premium underwriting investment bank and global financier. We now have more than 10 wholly owned subsidiaries in 7 different country’s varying from Securities Dealing, Coal Mining Management, Timber Plantation Management, Retail Investment Banking, Private Fund Management, Stock-broking Services, Foreign Exchange Trading and Project Underwriting. The total issued capital of First Mutual is US$120,000,000.00
Since inception, we have expanded through a combination of substantial organic growth and strategic acquisitions. Today, we have an efficient integrated international business platform, offering all our core activities in New Zealand , Australia , Singapore , Indonesia , Germany and U.S.A, with approximately 400 employees.
We are organised as a network comprising eight business divisions: Private Client Activities, Treasury and specialised Finance, Investment Banking, Asset Management, Project Underwriting, Foreign Exchange Trading and Retail Stock-Broking. Our head office provides group-wide integrating functions and is also responsible for central funding and the Trade Finance business.
Our strategic goals and objectives are based on an aspiration to be recognised as a distinctive specialist investment banking group. This distinction is embodied in our entrepreneurial culture, which is balanced by a strong risk management discipline, client-centric approach and ability to be nimble, flexible and innovative. We do not seek to be all things to all people and aim to build well-defined, value-added businesses that serve the needs of select market niches where we can compete effectively.
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