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Yes, I would agree with most of the comments. It looks very bad for vBulletin.
Internet Brands is substantially a vertical market firm. They are not set up for horizontal software development and I highly doubt they care about it at all. Why did they purchase vBulletin? My guess is that they need to own the platform, so that they can fill in any holes that might concern the bankers who are bringing the company public. It is a small price to pay to make it easier to go public. The product will survive, but it will migrate in such a way to support Internet Brands' own internal long term goals. It's too bad but probably inevitable. It would have been better if a software company purchased vBulletin, but for the life of me, I don't know which company would do it. Not enough revenue and growth to be attractive as a long term investment to a large software company such as Adobe.
Rich
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