Midland Park, NJ (PRWEB) December 18, 2005
Les Fox, 59, owner and spokesperson for Logopogo.com, 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 me," said Fox. "especially since 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. If we can sell $100 million a year of their products through an aggressive national advertising program, we can earn $5 million the first year. We may grow to ten times that size. On the other hand, right now our 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 Logopogo 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."
Fox would neither confirm nor deny that his company has bought a group of 375,000 customers.
"All I can tell you," he said, "is that we are very optimistic about the future, both for Logopogo and for Amazon. The internet has a long way to go. And retail is definitely shifting in favor of online transactions. I'll be shocked if 2006 sales do not reach our modest expectations." Fox also stated that Logopogo has received a second offer from a British media company. "They offered us less, but it was an all cash deal. However, we are not interested in selling at this time. Right now, we are planning to advertise and promote the heck out of Logopogo. This is a totally private business, and we have absolutely no plans to go public in 2006."