PRESS RELEASE: 37SIGNALS VALUATION TOPS $100 BILLION AFTER BOLD VC INVESTMENT

I am so glad that there are still people in this industry with a sense of humor and who can laugh at themselves. They are parodying, of course, the press releases where an Internet company (say, Facebook) announces they have raised VC money (say, $240 million from Microsoft in return for 1.6% of the company) and are now worth $15 billion, with a bit of an extra dig at Apple as well: “Also, everything we make will include a compass.”

It reminds me of years ago when I sent around to friends a fake press release announcing “record first quarter profits” after finding a quarter on the sidewalk. The sad thing is that $0.25 probably was more profit than half the dotcoms ever saw during that same time period.