Kodak Last-Gasp Hope: KodakCoin
Kodak Last-Gasp Hope: KodakCoin
Start-ups raised more than $3 billion with initial coin offerings last year, led
by Filecoin, a blockchain data-storage network that raked in $257 million.
Now, the company is betting its future on digital currencies with an initial coin offering intended to help photographers sell their work.
The company’s market capitalization, nearly $30 billion at its peak in the late 1990s, fell to just $135 million early this week.
It refocused around digital printing, packaging and a legacy film business that’s a shadow
of the glory days when Paul Simon had a hit song rhapsodizing about Kodachrome.
They dropped another 8 percent in the first three quarters of 2017, to $1.1 billion, and the bottom line dipped into the red.
The announcement more than doubled Kodak’s stock, but it’s unlikely to do anything like the same to the company’s sales or profit.
Start-ups raised more than $3 billion with initial coin offerings last year, led
by Filecoin, a blockchain data-storage network that raked in $257 million.
Now, the company is betting its future on digital currencies with an initial coin offering intended to help photographers sell their work.
The company’s market capitalization, nearly $30 billion at its peak in the late 1990s, fell to just $135 million early this week.
It refocused around digital printing, packaging and a legacy film business that’s a shadow
of the glory days when Paul Simon had a hit song rhapsodizing about Kodachrome.
They dropped another 8 percent in the first three quarters of 2017, to $1.1 billion, and the bottom line dipped into the red.
The announcement more than doubled Kodak’s stock, but it’s unlikely to do anything like the same to the company’s sales or profit.