When Siebel Systems – a firm with big customers and billion-dollar annual revenues – is worth only a third more than a tiny upstart internet telephony company scraping by on twenty-times less turnover, you’d be forgiven for thinking that you may have been hit on the head in 1998 and imagined all of the last seven years. Sneak feels about ready to step out of the shower, Bobby Ewing style, to find that it’s still 1999.
But apparently the dot-com bubble did burst, even if it is ballooning up again. Hot start up Skype is valued at 68 times this year’s likely revenues, while boring old has-been Siebel is worth only four and a bit times revenues.
What with Google trading at $300 per share, Sneak continues to remain awake despite being black and blue from self-inflicted pinches. Incidentally, Sneak has some shares in Fools&theirMoney.com to sell, if you’re interested.

12 Sep 2005