Top > Business > 2005 > December > 2005-12-26

New Website Turns Down Millions

A newly formed Amazon Affiliate website has recently entered the online world. It seems that this site is already bringing in potential buyers, as potential earnings are looking promising. The websites partners are not however looking to sell, as they believe they will see profits in the high millions. Les Fox, 59, owner and spokesperson for Logo pogo, announced today that a group of doctors in Laguna Beach, California has offered him $4.7 million to take over his fledgling Amazon Affiliate website.

This was a big surprise to Fox considering the website is just getting started. Rumors have apparently spread that this website has huge potential, given Amazon`s annual sales of nearly $10 billion. Assuming they can sell $100 million a year of their products through an aggressive national advertising program, they will have the ability to earn $5 million the first year. Speculation is that they may grow to ten times that size. On the other hand, right now their future is uncertain.

Philip Forrester, 44, a representative of the Doctors Investment Group, told Direct Media News Service why his colleagues made Fox the offer: `First, it`s not an all cash offer,` said Forrester. `We heard about this guy, Fox, who has a solid track record as a promoter of merchandise and publishing projects for 30 years. We figured that if his idea takes off, it could be another Google, with an IPO and the whole thing. So we wanted to get in on the ground floor, Second, we know that Logo pogo has purchased 375,000 retail customers for $2.2 million from a marketing company in Spokane, Washington. At $15 per person, that translates to over $5 million a year if Fox`s program takes off. The risk-reward ratio is excellent`