Digital River loses biggest customer; stock dives

Shares of Eden Prairie-based Digital River plunged nearly 40 percent this morning after the e-commerce outsourcer announced that its largest customer, Symantec Corp., was not renewing its service agreement next year. Full Story
Ben Bernanke

Minneapolis, MN

#1 Oct 12, 2009
Lemme take a wild guess that insiders have been selling their stock heavy in the previous month. Or at least once they realized their largest customer was bailing. Busted!

Since: Aug 09

Saint Paul, MN

#2 Oct 12, 2009
Ben Bernanke wrote:
Lemme take a wild guess that insiders have been selling their stock heavy in the previous month. Or at least once they realized their largest customer was bailing. Busted!
You're just sore you didn't sell your shares last week.
XD40 Fan

Minneapolis, MN

#3 Oct 12, 2009
This is the double-edged sword of having huge clients. DR will be just fine. Maybe they could hook up with Petters Wh*rehouse.

Since: Apr 09

Twin Cities

#4 Oct 12, 2009
Digital River is a fantastic company from the inside. I did a temp stint there a few years ago. They will weather this storm without a problem I am certain. Good Luck DR!
cory in St Paul

Phoenix, AZ

#5 Oct 12, 2009
DR is led by a jerk off who steals as much intellectual property as possible, then fires that property. This is Karma kicking his ass. Just sucks others have to take the brunt of it. I truly hope he is the next Hecker/Petters.

Since: Apr 09

Twin Cities

#6 Oct 13, 2009
cory in St Paul wrote:
DR is led by a jerk off who steals as much intellectual property as possible, then fires that property. This is Karma kicking his ****. Just sucks others have to take the brunt of it. I truly hope he is the next Hecker/Petters.
Sounds like someone is either a fired ex employee or just extremely jealous.
Chucker

Savage, MN

#7 Oct 13, 2009
Can't say I feel sorry for them, they've been outsourcing everything they possibly can off shore to India and the Phillipines and who knows where else and laying off Minnesota employees left and right. Too bad for them, they are greedy and getting what they had coming.

Since: Apr 09

Twin Cities

#8 Oct 13, 2009
Chucker wrote:
Can't say I feel sorry for them, they've been outsourcing everything they possibly can off shore to India and the Phillipines and who knows where else and laying off Minnesota employees left and right. Too bad for them, they are greedy and getting what they had coming.
Where are you getting this info? The only other country I am aware of that they operate in is Ireland where they have a division that works really closely with Eden Prairie. Though I could be wrong, it has been a couple of years since I was there.

Since: Aug 09

Saint Paul, MN

#9 Oct 13, 2009
orreljw wrote:
<quoted text>
Where are you getting this info? The only other country I am aware of that they operate in is Ireland where they have a division that works really closely with Eden Prairie. Though I could be wrong, it has been a couple of years since I was there.
Don't bother asking for facts...these are just posters who hate anyone or anything successful. I'm guessing they have low paying menial jobs, or are unemployed with no real hope of finding work because of no marketable skills.
Chucker

Savage, MN

#10 Oct 13, 2009
orreljw wrote:
<quoted text>
Where are you getting this info? The only other country I am aware of that they operate in is Ireland where they have a division that works really closely with Eden Prairie. Though I could be wrong, it has been a couple of years since I was there.
There is obviously a lot you do not know, and I can tell you for a fact that this is true, some of it is recent and some has been going on for a couple years. Eden Prairie just layed off a bunch more people fairly recently, and has been continually doing that for some time, as they would prefer to pay people in 3rd world countries $1 an hour than pay competitive local wages. Not that this is uncommon unfortunately with tech companies, but again it makes it hard for me to feel too sorry for them.
Chucker

Savage, MN

#11 Oct 13, 2009
Incredible70 wrote:
<quoted text>
Don't bother asking for facts...these are just posters who hate anyone or anything successful. I'm guessing they have low paying menial jobs, or are unemployed with no real hope of finding work because of no marketable skills.
Your statement may be true in general, but if you are talking about me I can assure you that is incorrect. These are absolutely true facts, call DR and ask. I have never worked there, and am thankfully gainfully employed and have never been unemployed, so finding work has never been a problem.
However the same can't be said for all the people DR has gotten rid of so they could move call centers off shore.
Born in the usa

Savage, MN

#12 Oct 13, 2009
Where is this river? I have never heard of it. Hows the fishing from shore?

Since: Apr 09

Twin Cities

#13 Oct 14, 2009
Chucker wrote:
<quoted text>
There is obviously a lot you do not know, and I can tell you for a fact that this is true, some of it is recent and some has been going on for a couple years. Eden Prairie just layed off a bunch more people fairly recently, and has been continually doing that for some time, as they would prefer to pay people in 3rd world countries $1 an hour than pay competitive local wages. Not that this is uncommon unfortunately with tech companies, but again it makes it hard for me to feel too sorry for them.
I would tend to agree with you if this is the case. Thanks for the info.
Ian Gilyeat

Gilbert, AZ

#14 Oct 22, 2009
A big change for DR, but with Symantec at 30% of revenue and declining, they should still be fine - especially with a broadening industry footprint and growth in gaming and other sectors happening for them.
Roboytoe

Minneapolis, MN

#15 Oct 30, 2009
DR has been intentional in moving away from providing customer service, and Symantec was a no-customer service client, and the loss of Symantec reveals the direction DR is going is the wrong direction. Watch them lose Microsoft next. Gaining Ubisoft after losing Symantec is like winning a free chesseburger after declaring bankruptcy- hardly a rebound.
Kaspersky_user

North Ridgeville, OH

#17 Jul 5, 2012
I dumped Norton antivirus because of subscription problems, got Kaspersky antivirus and ran into more problems. Now I know to somemhow avoid Digital River as the source of the "automatic renewals", registration key mess-ups, and barriers to receiving any technical support. I hope this company fails big-time and software companies either handle their own direct sales or use better distribution. Look for Kaspersky to drop them too.
Mike

Leichhardt, Australia

#19 Jun 13, 2013
Kaspersky_user wrote:
I dumped Norton antivirus because of subscription problems, got Kaspersky antivirus and ran into more problems. Now I know to somemhow avoid Digital River as the source of the "automatic renewals", registration key mess-ups, and barriers to receiving any technical support. I hope this company fails big-time and software companies either handle their own direct sales or use better distribution. Look for Kaspersky to drop them too.
I think bitdefender need to dump them too same story. They took the money from my account 3 months ago and I still don't have my license key. Digital River is a horrible company to deal with in future I won't use any antivirus that they are involved with.

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