American History 1988
Chapter 122 - 116 Merry Christmas

Chapter 122: Chapter 116 Merry Christmas

"It’s quite apparent that Price’s List has achieved remarkable accomplishments this year," said John Donovan, the COO, as he naturally reported on the website’s development to Dean.

"Across the whole state of Ohio, we now have over one hundred thousand registered users, and the daily page views are approaching a 1:1 ratio, which speaks volumes to Price’s List’s appeal and user retention," he added.

For the websites of future generations, having a nearly equal number of registered users and daily visitors would be regarded as mediocre.

Normally, the number of visits should exceed the number of registered users since some traffic comes from non-registered users.

But it’s only just entered the ’90s, and the cost of people going online is far greater than in later times. Take America Online as an example – their per-hour pricing ranges from 2 to 5 US dollars, with the actual rate depending on the subscription plan one selects.

With an average cost of 3 US dollars per hour for internet access, even though America Online provides services to several hundreds of thousands of users, most of them can’t ensure they go online daily.

Thus, the fact that Price’s List can generate such a volume of traffic is quite impressive, and John has every reason to be proud of it.

"According to both our and America Online’s official figures, Price’s List is now the largest commercial website under America Online.

Beyond the Cheap Rent company, we’ve also signed advertising contracts with Wendy’s Hamburgers, White Castle, and Budweiser beer. This will bring in total revenues of around 500,000 US dollars for the upcoming year," he continued.

These contracts were all negotiated by John, Simon, and their teams, and overall, Dean is quite satisfied with the current progress of Price’s List.

Due to scale and policy limitations, the site’s earnings have already met Dean’s initial expectations. For the next two or three years, the figures are likely to stay within this range.

"What about this year’s financials?" Dean said. He was more interested in the summary for the current year than in forecasts for the next.

Upon hearing his inquiry, John immediately handed over a financial report. "As of before Christmas, our total revenue for this year is 250,000 US dollars.

After subtracting labor costs, server expenses, and various taxes, Price’s List’s net profit for the year is 120,000 US dollars," he explained.

From July, when the contract with Cheap Rent was signed, until the year’s end, they have placed rental ads on Price’s List worth approximately 200,000 US dollars in total.

The remaining 50,000 US dollars came from a miscellany of other advertisers. Looking at the report in hand, Cheap Rent remains Price’s List’s biggest client.

"The entire 120,000 US dollars will be reserved for the company’s fund, as next year we need to be prepared for more changes," Dean decided. He had no intent of pocketing this money, as his vision went beyond short-term gains.

Price’s List is just getting started and may require even more investment next year. Moreover, having significant cash reserves gives the employees greater confidence.

Let’s not forget John Donovan, whom he had poached from AT&T, who is now only drawing a base salary without a penny in dividends.

So Dean needed to offer them more encouragement, "Guys, at least we made a profit this year, right? I have a feeling that next year will be a pivotal one for Price’s List.

Hang in there a bit longer, and next year, we’ll definitely get our share of the dividends!"

"Yeah~!" John and Simon and the rest applauded and cheered. Dean was right; they had made a profit this year.

As long as things keep progressing this way, Price’s List is bound to reap even greater profits next year.

John and Simon currently hold 3% of the website’s stock each, and Dean had promised them that this share would not be diluted before the next round of fundraising.

Based on the total number of advertising contracts Price’s List is set to secure next year, the order value is already nearing a million US dollars. If all goes well, perhaps by year’s end, John and the others could receive dividends of thirty to forty thousand US dollars.

Do not underestimate these thirty to forty thousand US dollars. Currently, the median annual income for an American household is just over ten thousand US dollars. Coupled with their base salaries, John and Simon’s earnings are already surpassing most others.

It is precisely this confidence that has John willingly working for Price’s List on just a base salary.

"OK~ Now that we’ve covered the good news, let’s talk about the bad news," Dean said, setting down the report, "It seems like America Online has started to charge for their search services?"

Ohio users access America Online through a special client that provides various value-added services such as email, stock information, news updates, and more.

Previously, it also offered free search services within its local network, such as accessing BBS forums established within America Online or other commercial websites—even various consultations.

However, at the end of this year, America Online suddenly announced they would start charging for search services, with each search request costing 7.5 US dollars.

"Their explanation is that it’s a type of value-added service, as searching allows people to find the information they want more quickly," John shrugged. Although he had offered America Online his suggestions, ultimately he couldn’t change this fact.

"What impact does this have on Price’s List?" Dean probably already had some idea.

"There’s been a sharp decline in new registrations, and daily visits have also entered a sluggish phase," Simon answered on behalf of John, feeling the effects most acutely in Cleveland. The economic recession there is more severe, making people reluctant to spend money.

In the past, people could just type "price list" in the America Online client immediately after connecting and be directed to the site, but now this action costs 7.5 US dollars.

Of course, you can also go to a dedicated web portal, then enter the full URL of Price’s List, and finally enter the site from there.

But this process has many steps and obviously, it would not be popular with everyone. So when America Online started to charge for search services, the activity of Price’s List also saw a noticeable decline.

"These guys are too shortsighted, do they really think only America Online can provide internet services?" Dean had the most comprehensive list of internet service providers in America.

Most of them may not be on the same scale as America Online, but they are growing very rapidly. Especially that America Online (AOL), they offer a rich array of online content and have attracted a lot of users to subscribe to AOL’s services.

Dean had a hunch that in the future AOL would definitely be a strong competitor to America Online, and it wouldn’t take too long.

"After Christmas, let’s talk to America Online about this and hope they can face up to the problem," Dean concluded today’s meeting, it was time to give everyone a break.

...

"Aha~ How could our Stanford genius end up in a country place like Cleveland?" Just as she came out of the community, Miranda saw a handsome guy looking at her from a distance.

"For you, I even forgot my own birthday," Dean rose from the phone booth and strolled up to her. "Merry Christmas, Miss Miranda~"

"Merry Christmas, jerk~" Miranda laughed and jumped into his arms, though he had disappeared for two months, he had given her the most important Christmas.

"I think tonight we could enjoy a sumptuous Christmas dinner?" Juggling the round object in his hand, Dean was missing Miranda’s stockings already.

"I’ve promised mom that tonight I will taste the Christmas turkey she’s prepared with such care~"

"Come on~" Dean said, holding Miranda with a tone of resignation.

"But after that, maybe I can go out and find some fun?" Miranda teased, wrapping her arms around his neck.

"Yeah~ Exactly, I’m that fun~" Dean knew very well where his strengths lay.

"Good, let’s see if you’ve improved these past two months." Miranda could already feel the heat from Dean’s chest.

"We should pick a nice place then." Dean’s eyes turned toward Cleveland’s Hyatt Hotel, where he had left many fond memories.

On Christmas Day, Dean did not return to Youngstown. He spent all his time on Miranda, and after several irrigations, she could no longer contain more.

"Dean, stop it, I’ve run out of stockings." After who knows how many pairs of stockings were torn, Miranda finally halted the antics of a certain mischievous fellow.

"Okay, I think they feel quite nice." Dean reluctantly withdrew his hand, although what actually felt nice were Miranda’s long, smooth legs.

"How’s your Price’s List doing?" To divert his attention, Miranda had to steer the conversation back to business.

"It’s not bad here in Ohio," Dean said, distracted, feeling the softness in his hands.

"I heard it has over a hundred thousand users now?"

Dean propped himself up on an elbow and curiously looked at her, "You used to be uninterested in these things."

"I heard it from dad," Miranda shrugged, "I’m quite suspicious that the number of people he’s interested in is from the casual encounters community."

The most popular content on Price’s List now was not housing markets or job exchanges, but the casual encounters section flooded with various transactions.

As Dean had once said, dealing with the risqué business is always the primary productive force.

In the beginning, Price’s List made some slight interventions, but all of it was to no avail.

Transactions between men and women almost appeared synchronously on the day the casual encounters community was opened.

The server data in the background also proved this point; nearly 35% of the visits to Price’s List were concentrated in the casual encounters community.

To restrict the transactions in the casual encounters community would be to limit the visitation to Price’s List. So, after a little probing, John and the others decisively gave up on monitoring this section.

There are no laws prohibiting such behavior; it’s better to let things take their course rather than self-castrate.

However, to say that Miranda’s father, Mather, was concerned about Price’s List because of the casual encounters community, Dean was skeptical.

Forget it, he was not planning to do anything for the time being. If the other party really had any intentions, Dean believed they would meet one day.

After spending a day in Cleveland with Miranda, Dean also returned to his native Youngstown. He had some extra arrangements for his family here.

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