Sulake has a problem (updated with more figures) is a post by one of my twitter followers who pointed out some potential issues with the recent grandstanding by Sulake. I have never heard of these guys before but was impressed with their figures that they were doing tons in revenue. It was a topic of conversation on Twitter recently.
Today, Sulake, owner of virtual world Habbo Hotel and Finnish social network Irc-Galleria, announced that they have made 50 million Euros, leading to a 4.8 million profit. Congratulations.
But let’s look closer at these figures, see if we can identify any problems.
Where is the money?
The first and most apparent issue is the profit.
The company has made a 4.8M profit. In other words, Sulake has spent 45.2M euros in a year.
Where has all the money gone?