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Old 03-29-2007, 02:32 PM   #1
Alexander Turcic
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iRex to expand B2B activities / speaks of possible IPO

The details are still pretty slim, but it seems that iRex is finally kicking into overdrive to deliver the iLiad device into the B2B world. MobileRead member Martijn sent us a link to a Dutch article and he also kindly provided us with the following English summary:
  • Starting in May 2007, electronic editions of two Dutch newspapers (NRC Handelsblad and De Volkskrant) will become available on the iLiad device.
  • iRex hopes to raise additional capital, either in a new financing round, or possibly (emphasis on possibly) by going public.
  • 10'000 iLiad were sold last year and the company hopes to sell 100'000 units this year.
  • iRex is in negotiation with airlines companies such as KLM Royal Dutch to get their flight personnel to use the iLiad.
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Old 03-29-2007, 02:42 PM   #2
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10000 iLiads sold? That's huge (especially if we consider that it has been available only since the second half of 2006)...
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Old 03-29-2007, 04:08 PM   #3
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I agree - and it bodes well for the survival of the machine and company. Although it has its quirks, I would buy one again.
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Old 03-29-2007, 04:33 PM   #4
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10.000 is huge ...

The good news is if they intend to sell more they have to decrease the price ...
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Old 03-29-2007, 05:15 PM   #5
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I wonder how the rest of the users (the ~9000 that dont lurk in the forums) deal with the iLiad's quirks/problems...
Do they contact irex support?
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Old 03-29-2007, 06:26 PM   #6
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Quote:
Originally Posted by vranghel
I wonder how the rest of the users (the ~9000 that dont lurk in the forums) deal with the iLiad's quirks/problems...
Do they contact irex support?
That could explain why irex is overworked/understaffed...
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Old 03-29-2007, 11:44 PM   #7
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10,000? All I can think about is "soon". That says it all!
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Old 03-30-2007, 04:46 AM   #8
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Hmmm, I just noticed the article says that they sold nearly 10,000 Illiads last year and had a turnover of almost 4 million euros.
That doesn't add up, unless they sell the Illiad to their business partners for something like 400 euros.

The article doesn't say, but I think it is based on an interview with Hans Brons, the director of Irex, maybe he didn't have his numbers straight. (Or he is quite liberal with the words like nearly and almost )

Ah well, the website says that there will be more on Irex in their (paper) magazine this week. I'll see if I can get a copy somewhere.
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Old 03-30-2007, 05:49 AM   #9
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Quote:
Originally Posted by Martijn
Hmmm, I just noticed the article says that they sold nearly 10,000 Illiads last year and had a turnover of almost 4 million euros.
That doesn't add up, unless they sell the Illiad to their business partners for something like 400 euros.
Actually, I think you just hit the nail. It seems very reasonable for iRex to sell the iLiad at a considerable discount to its business partners. For instance, think about the newspapers who want to attract new subscribers through their e-papers. It's possible that iRex will get a share of the revenue back from these newspapers, so why not sell the iLiads at a discount?

I think the numbers add up just nicely.
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Old 03-30-2007, 08:10 AM   #10
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You're right.

(Maybe I'm just jealous of that kind of a discount )
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Old 03-30-2007, 09:42 AM   #11
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I think this proves that iRex is not "just a small startup" who deserves patience and forgiveness from the customers. 10k units and 4m euros turnover in less than a year is pretty big.
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Old 03-30-2007, 09:53 AM   #12
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So if iRex went public, who of us would buy iRex shares?

And there's also E Ink who is still a private company...
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Old 04-10-2007, 10:36 AM   #13
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... but ... what about this post from CommanderROR ( http://www.mobileread.com/forums/showthread.php?t=10045 ) about iRex trouble ?
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