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Title: Name this company! Post by: Vod on January 07, 2015, 02:29:12 AM Do you remember these guys? I do.
Quote Typically, companies that bank on the laziness of Americans to turn a profit do so with tremendous success. So, xxxxx's plan to offer online rebates in exchange for tremendous upfront costs seemed like a winner. The company would charge $2000 for a stereo system that retailed for less than $300 and allow the consumer to get a full rebate so long as they submitted paperwork and agreed to strict deadlines. The company’s profit model was based on consumers being too stupid or lazy to follow up on the rebate, allowing xxxxx to dump product at a tremendous markup. Instead, the company gave away electronic equipment to an especially astute customer base until it went under in 2001. Title: Re: Name this company! Post by: coinits on January 07, 2015, 02:35:48 AM Do you remember these guys? I do. Quote Typically, companies that bank on the laziness of Americans to turn a profit do so with tremendous success. So, xxxxx's plan to offer online rebates in exchange for tremendous upfront costs seemed like a winner. The company would charge $2000 for a stereo system that retailed for less than $300 and allow the consumer to get a full rebate so long as they submitted paperwork and agreed to strict deadlines. The company’s profit model was based on consumers being too stupid or lazy to follow up on the rebate, allowing xxxxx to dump product at a tremendous markup. Instead, the company gave away electronic equipment to an especially astute customer base until it went under in 2001. CyberRebate according to Google. Never heard of them. Title: Re: Name this company! Post by: Vod on January 07, 2015, 02:38:39 AM Do you remember these guys? I do. Quote Typically, companies that bank on the laziness of Americans to turn a profit do so with tremendous success. So, xxxxx's plan to offer online rebates in exchange for tremendous upfront costs seemed like a winner. The company would charge $2000 for a stereo system that retailed for less than $300 and allow the consumer to get a full rebate so long as they submitted paperwork and agreed to strict deadlines. The company’s profit model was based on consumers being too stupid or lazy to follow up on the rebate, allowing xxxxx to dump product at a tremendous markup. Instead, the company gave away electronic equipment to an especially astute customer base until it went under in 2001. CyberRebate according to Google. Never heard of them. BOOO! You weren't supposed to use Google. CyberRebate was correct. I ordered a few hundred dollars of cheap products off them and got it all back. But I heard some (very greedy) people who got shafted for tens of thousands of dollars when the company collapsed. Title: Re: Name this company! Post by: coinits on January 07, 2015, 02:46:52 AM Do you remember these guys? I do. Quote Typically, companies that bank on the laziness of Americans to turn a profit do so with tremendous success. So, xxxxx's plan to offer online rebates in exchange for tremendous upfront costs seemed like a winner. The company would charge $2000 for a stereo system that retailed for less than $300 and allow the consumer to get a full rebate so long as they submitted paperwork and agreed to strict deadlines. The company’s profit model was based on consumers being too stupid or lazy to follow up on the rebate, allowing xxxxx to dump product at a tremendous markup. Instead, the company gave away electronic equipment to an especially astute customer base until it went under in 2001. CyberRebate according to Google. Never heard of them. BOOO! You weren't supposed to use Google. CyberRebate was correct. I ordered a few hundred dollars of cheap products off them and got it all back. But I heard some (very greedy) people who got shafted for tens of thousands of dollars when the company collapsed. Like I said, I've never heard of them I would suspect that with the current generation of youth being dumber than dirt that this company was too early to the marketplace. I like the business model with a couple of mods. 1) Make 10% profit off of the smart people. 2) Make retirement money off of the zombies. Title: Re: Name this company! Post by: koshgel on January 07, 2015, 03:44:12 AM I never heard of this company either but the idea is kind of shitty. All it would take is a small online community (take slickdeals for example) to tell everyone how to take advantage of the rebate, and they would be finished.
Quote The company filed for chapter 11 bankruptcy protection on 16 May 2001, citing $83.3 million in liabilities against $24.5 million in assets.[3] Approximately $80 million was due directly to customers in unpaid rebates. 80 million in debt. Not a great profits model ;D They should have given a healthy discount for the products instead of 100% rebate. Title: Re: Name this company! Post by: Watoshi-Dimobuto on January 07, 2015, 10:51:23 AM Do you remember these guys? I do. Quote Typically, companies that bank on the laziness of Americans to turn a profit do so with tremendous success. So, xxxxx's plan to offer online rebates in exchange for tremendous upfront costs seemed like a winner. The company would charge $2000 for a stereo system that retailed for less than $300 and allow the consumer to get a full rebate so long as they submitted paperwork and agreed to strict deadlines. The company’s profit model was based on consumers being too stupid or lazy to follow up on the rebate, allowing xxxxx to dump product at a tremendous markup. Instead, the company gave away electronic equipment to an especially astute customer base until it went under in 2001. CyberRebate according to Google. Never heard of them. BOOO! You weren't supposed to use Google. CyberRebate was correct. I ordered a few hundred dollars of cheap products off them and got it all back. But I heard some (very greedy) people who got shafted for tens of thousands of dollars when the company collapsed. Interesting concept tho. Did the company intentionally make the rebate process difficult? Title: Re: Name this company! Post by: Vod on January 08, 2015, 01:00:28 AM Did the company intentionally make the rebate process difficult? Yes, you had to fill out several forms, cut out the UPC from the packaging and mail it in within so many days. They expected people to be stupid, but people got organized and started helping each other. |