The other night I went downtown to take a photo of this sign:
This is Infinium’s sign that (for now) still graces a building in downtown Sarasota, Florida. The company moved to Seattle some time ago.
The company burned through $75 MILLION dollars of investment capital with nothing to show for it, except a laptop keyboard that to this day has not materialized.
The company was supposed to produce a gaming system that let user pay for and play for games online. Aside from 3D renderings, the hardware never even saw a prototype. The company did, however, produce a working version of a gaming keyboard and mouse.
The Phantom website (they’re not worthy of a link) has been taking orders for this miserable piece of hardware for many many months now, but I wouldn’t recommend trusting them with your credit card number. Dell’s Alienware also placed a large order with the company several months ago, but shipment has once again been “delayed“.
Fun Infinium Trivia:
- Infinium sued HardOcp for running a very damning investigative article about the company and its CEO, but were forced to pay over $200,000 in legal fees once the facts cited in the story were all proven to be true.
- The SEC charged the former CEO with securities fraud for running a pump and dump scheme with the company’s stock.
- The company was investigated for fax spamming and email spamming designed to bring on more investors.
- The sign pictured above is very slick and changes colors from white to red to green and blue (which it hasn’t done in a while). It’s really unnecessarily extravagant considering its surroundings, but a very good representation of the company’s fiscal responsibility.
I remember reading a story in 2005 about the company securing another $11 million of venture capital, having burned through $60 million already, still with nothing to show. The CEO must have been one hell of a salesman.
To me – the picture above is a great reminder of the power of salesmanship. If Infinium can sell $75 million dollars worth of nothing, surely YOU can do better with something of actual value.