Recession-schushmession. Buy.com just reported that it had its biggest Black Friday sales day in company history, with over 40 percent growth in both revenue and customer orders compared to last year.
The Aliso Viejo company didn’t offer us any actual numbers so we could check them out. However, back in May, Buy.com CEO Neel Grover spoke to me and offered some details. At the time, it was expecting to post its sixth straight profitable quarter, which it then did a week later, with $1.4 million in profit. It previously reported income of $411,000 for the third quarter of 2007, an improvement of the prior year’s loss of $5.6 million.
“We make money on every product we sell — we make a little less money than our competitors,” he told me.
Buy.com did make a big fuss over the holiday weekend. Going into Thanksgiving, it had a pre-turkey day sale subsidized by PayPal. Then over the weekend, it continued to post new deals. And of course, there were today’s Cyber Monday deals.
The company has been around since the mid 1990s, although many had written it off after the dot-com bubble burst. Under the radar, Buy.com has continued to attract customers. According to its latest release, it has 12 million customer accounts, up from 10 million a year ago.
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