Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (140116)	3/2/2002 2:32:34 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Glenn, this is over a year old, but blue nile sold a $183,000 diamond engagement ring on the Internet! Can you beat that?;0) btw What would be the gross profit on a $183,000 diamond engagement ring?? >>Blue Nile, an online diamond retailer backed by Vulcan Ventures and Kleiner Perkins Caufield & Byers; and Talisma Corp., a software company that raised $12.3 million in venture capital last week. Kirkland-based Captura yesterday laid off 25 employees, or about 12 percent of its worldwide work force leaving the 6-year-old company with 191 people. "We had record sales last year and we expect stronger sales this year," said Mike Walters, a spokesman for the company. "(But) we are not immune to what everyone is going through." Walters said the company hopes to reach profitability by the end of the year. That is also the goal of Blue Nile, which yesterday let go 20 people, or 20 percent of its work force. Mark Vadon, chief executive of the company, said the privately held online retailer could be profitable in the fourth quarter without raising additional capital. "We think we will be one of the only pure play consumer e-commerce companies that makes it," said Vadon, adding that the company reported 100 percent revenue growth in 2000. Blue Nile had sales of $50 million last year and just last week had its biggest sale ever: an $183,000 diamond engagement ring. Vadon said the company is curtailing many of its mass media marketing and advertising programs and is focusing on growing the business through word of mouth. He said about 50 percent of sales come through repeat business or referrals. The job cuts occurred throughout the company with marketing and customer service taking the biggest hit. Two of Blue Nile's competitors -- Adornis.com and Miadora.com -- closed last fall. seattlepi.nwsource.com