Why was a scam company able to raise $76 Million Series B?

Re:Why was a scam company able to raise $76 Million Series B? by simias on Sunday September 30, 2012 @12:37PM (#4593262)

That reminds me of certain ads I sometimes see on the french TV for ringtones or silly phone games: if you read the small print you realize they actually offer a membership, not a product, and you actually pay something like 3 euros a week instead of a one-time fee. They call that "clubs" or something.

Those ads usually seem to target teenagers (they're mostly on music channels or channels aimed at kids) who probably aren't in charge of the bill and if they're not careful they might end up with a bad surprise. This is beyond shoddy.

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Re:Why was a scam company able to raise $76 Million Series B? by tripzilch on Sunday September 30, 2012 @03:47PM (#4593882)

Thankfully that shit has been made illegal in the Netherlands a few years ago. One of the more important motivations was, like you say, how blatantly those scams are targeted at teenagers.

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