Here’s today’s depressing tweet, courtesy of the WSJ’s Dennis Berman: Kodak, which historically pioneered personal photography and employs almost 20,000 people, closed at an all time low, and “is now worth $US468m, or $US330m less than 50-person, profitless Tumblr.”
Kodak is more or less on a slow slide towards annihilation at this point. They’ve got no worthwhile foothold on the digital photography slope, and nobody buys film — not that they even make the film once prized by photographers across the world. And now a share of their stock is worth $US1.74, on the same day Tumblr’s received a scalding hot injection of $US85 million in venture capital cash, owing mostly to its ability to quickly spread animal memes and Rebecca Black GIFs. There’s no use mourning obsolescence, but sometimes the shifting of money from one place to another makes me want to frown. [Dennis Berman]
Photo: Nesster