In rough numbers, PIR's gross income is about $100m with net revenue (ie "profit") of about $50-60m. In a blog post, Andrew Sullivan said "Today?s news has tremendous benefits for both the Internet Society and PIR. The transaction will help the Internet Society to secure its future through more stable, diversified and sustainable financial resources than it has at present, allowing the organization to plan for the long term and advance its vision of an Internet for everyone on an even broader scale.' I see the key words as STABLE, SUSTAINABLE and BROADER. In the 2018 Annual Report, PIR reported contributions ranging from $30m to about $75m over the last 4 years and they predict about $55m for this year. The announcement implies that the sale price will be sufficient to yield them comparable amounts in annual revenue from the sale proceeds. One could calculate what that implies about the sale price and to what extent Ethos has hopes of increasing profitability. Presumably at some point, ISOC will have to reveal what they got for it. Alan At 13/11/2019 11:36 PM, Olivier MJ Crepin-Leblond wrote: Hello all, I must admit I do not know what this means for the long term financial stability of ISOC, if ISOC has sold its only source of income. I need to read more about the details of the deal before forming an opinion. Kindest regards, Olivier Sent from my Samsung Galaxy smartphone. -------- Original message -------- From: Justine Chew <justine.chew@gmail.com> Date: 14/11/2019 08:02 (GMT+05:30) To: Maureen Hilyard <maureen.hilyard@gmail.com> Cc: CPWG <cpwg@icann.org>, Alan Greenberg <alan.greenberg@mcgill.ca> Subject: Re: [CPWG] [registration-issues-wg] Fwd: ISOC sells PIR It is an outright sale of an asset, the proceeds of which go toward "an endowment fund" for ISOC projects/activities. No revenue sharing is involved. The announcement indicated that all projects and operations will continue as is under new ownership. With its policy on public/community benefit presumably driven and overseen by Ethos Capital's Stewardship Council - I wonder who they will put on this Council. PIR under Ethos Capital will lose its non-for-profit status, so there might be financial implication not to ISOC but possibly PIR's existing .org customers/registrants. We shall see. Justine ----- On Thu, 14 Nov 2019 at 10:21, Maureen Hilyard < maureen.hilyard@gmail.com<mailto:maureen.hilyard@gmail.com>> wrote: As Eduardo said there are lots of unknowns at present. Who knows? On Wed, 13 Nov 2019, 3:02 PM Alan Greenberg, <alan.greenberg@mcgill.ca<mailto:alan.greenberg@mcgill.ca> > wrote: Why will it have major implications on ISOC Chapters? Alan At 13/11/2019 02:52 PM, Maureen Hilyard wrote: I know for sure that this was not even hinted at during the last PIR Advisory Council meeting.. but it will have major implications for the ISOC chapters. What are they/ISOC thinking? Maureen On Wed, Nov 13, 2019 at 7:59 AM Marita Moll <mmoll@ca.inter.net<mailto:mmoll@ca.inter.net>> wrote: Had we known this was lurking in the background -- which it most certainly was at the time -- it might have been a different discussion. How much did ISOC know and when did they know it -- a question ISOC chapters might want to ask. Marita -------- Forwarded Message -------- Subject: ISOC sells PIR Date: Wed, 13 Nov 2019 17:38:29 +0000 From: Stephanie Perrin <stephanie.perrin@MAIL.UTORONTO.CA><mailto:stephanie.perrin@MAIL.UTORONTO.CA> Reply-To: Stephanie Perrin <stephanie.perrin@MAIL.UTORONTO.CA><mailto:stephanie.perrin@MAIL.UTORONTO.CA> To: NCSG-DISCUSS@LISTSERV.SYR.EDU<mailto:NCSG-DISCUSS@LISTSERV.SYR.EDU> I must say, this casts the decision to drop price caps for .org in a slightly different light. I will keep you posted as I learn more. https://www.businesswire.com/news/home/20191113005661/en/Ethos-Capital-Acqui... Stephanie Perrin NCSG Chair _______________________________________________ CPWG mailing list CPWG@icann.org<mailto:CPWG@icann.org> https://mm.icann.org/mailman/listinfo/cpwg _______________________________________________ By submitting your personal data, you consent to the processing of your personal data for purposes of subscribing to this mailing list accordance with the ICANN Privacy Policy ( https://www.icann.org/privacy/policy) and the website Terms of Service ( https://www.icann.org/privacy/tos). You can visit the Mailman link above to change your membership status or configuration, including unsubscribing, setting digest-style delivery or disabling delivery altogether (e.g., for a vacation), and so on. _______________________________________________ CPWG mailing list CPWG@icann.org<mailto:CPWG@icann.org> https://mm.icann.org/mailman/listinfo/cpwg _______________________________________________ By submitting your personal data, you consent to the processing of your personal data for purposes of subscribing to this mailing list accordance with the ICANN Privacy Policy ( https://www.icann.org/privacy/policy) and the website Terms of Service ( https://www.icann.org/privacy/tos). You can visit the Mailman link above to change your membership status or configuration, including unsubscribing, setting digest-style delivery or disabling delivery altogether (e.g., for a vacation), and so on. _______________________________________________ registration-issues-wg mailing list registration-issues-wg@atlarge-lists.icann.org<mailto:registration-issues-wg@atlarge-lists.icann.org> https://mm.icann.org/mailman/listinfo/registration-issues-wg _______________________________________________ By submitting your personal data, you consent to the processing of your personal data for purposes of subscribing to this mailing list accordance with the ICANN Privacy Policy ( https://www.icann.org/privacy/policy) and the website Terms of Service ( https://www.icann.org/privacy/tos). You can visit the Mailman link above to change your membership status or configuration, including unsubscribing, setting digest-style delivery or disabling delivery altogether (e.g., for a vacation), and so on. _______________________________________________ CPWG mailing list CPWG@icann.org<mailto:CPWG@icann.org> https://mm.icann.org/mailman/listinfo/cpwg _______________________________________________ By submitting your personal data, you consent to the processing of your personal data for purposes of subscribing to this mailing list accordance with the ICANN Privacy Policy ( https://www.icann.org/privacy/policy) and the website Terms of Service ( https://www.icann.org/privacy/tos). You can visit the Mailman link above to change your membership status or configuration, including unsubscribing, setting digest-style delivery or disabling delivery altogether (e.g., for a vacation), and so on.
If Verisign's Market Capitalisation is roughly USD 22Bn, could PIR be worth at least a third of this price? 7.3Bn? Kindest regards, Olivier On 14/11/2019 10:37, Alan Greenberg wrote:
In rough numbers, PIR's gross income is about $100m with net revenue (ie "profit") of about $50-60m.
In a blog post, Andrew Sullivan said "Today?s news has tremendous benefits for both the Internet Society and PIR. The transaction will help the Internet Society to secure its future through more stable, diversified and sustainable financial resources than it has at present, allowing the organization to plan for the long term and advance its vision of an Internet for everyone on an even broader scale.' I see the key words as STABLE, SUSTAINABLE and BROADER. In the 2018 Annual Report, PIR reported contributions ranging from $30m to about $75m over the last 4 years and they predict about $55m for this year.
The announcement implies that the sale price will be sufficient to yield them comparable amounts in annual revenue from the sale proceeds. One could calculate what that implies about the sale price and to what extent Ethos has hopes of increasing profitability. Presumably at some point, ISOC will have to reveal what they got for it.
Alan
At 13/11/2019 11:36 PM, Olivier MJ Crepin-Leblond wrote:
Hello all,
I must admit I do not know what this means for the long term financial stability of ISOC, if ISOC has sold its only source of income. I need to read more about the details of the deal before forming an opinion. Kindest regards,
Olivier
Sent from my Samsung Galaxy smartphone.
-------- Original message -------- From: Justine Chew <justine.chew@gmail.com> Date: 14/11/2019 08:02 (GMT+05:30) To: Maureen Hilyard <maureen.hilyard@gmail.com> Cc: CPWG <cpwg@icann.org>, Alan Greenberg <alan.greenberg@mcgill.ca> Subject: Re: [CPWG] [registration-issues-wg] Fwd: ISOC sells PIR
It is an outright sale of an asset, the proceeds of which go toward "an endowment fund" for ISOC projects/activities. No revenue sharing is involved.
The announcement indicated that all projects and operations will continue as is under new ownership. With its policy on public/community benefit presumably driven and overseen by Ethos Capital's Stewardship Council - I wonder who they will put on this Council.
PIR under Ethos Capital will lose its non-for-profit status, so there might be financial implication not to ISOC but possibly PIR's existing .org customers/registrants.
We shall see.
Justine -----
On Thu, 14 Nov 2019 at 10:21, Maureen Hilyard <maureen.hilyard@gmail.com <mailto:maureen.hilyard@gmail.com>> wrote:
As Eduardo said there are lots of unknowns at present. Who knows?
On Wed, 13 Nov 2019, 3:02 PM Alan Greenberg, <alan.greenberg@mcgill.ca <mailto:alan.greenberg@mcgill.ca> > wrote:
Why will it have major implications on ISOC Chapters?
Alan
At 13/11/2019 02:52 PM, Maureen Hilyard wrote:
I know for sure that this was not even hinted at during the last PIR Advisory Council meeting.. but it will have major implications for the ISOC chapters. What are they/ISOC thinking?
Maureen
On Wed, Nov 13, 2019 at 7:59 AM Marita Moll <mmoll@ca.inter.net <mailto:mmoll@ca.inter.net>> wrote:
Had we known this was lurking in the background -- which it most certainly was at the time -- it might have been a different discussion. How much did ISOC know and when did they know it -- a question ISOC chapters might want to ask.
Marita -------- Forwarded Message -------- Subject: ISOC sells PIR Date: Wed, 13 Nov 2019 17:38:29 +0000 From: Stephanie Perrin <stephanie.perrin@MAIL.UTORONTO.CA> <mailto:stephanie.perrin@MAIL.UTORONTO.CA> Reply-To: Stephanie Perrin <stephanie.perrin@MAIL.UTORONTO.CA> <mailto:stephanie.perrin@MAIL.UTORONTO.CA> To: NCSG-DISCUSS@LISTSERV.SYR.EDU <mailto:NCSG-DISCUSS@LISTSERV.SYR.EDU>
I must say, this casts the decision to drop price caps for .org in a slightly different light. I will keep you posted as I learn more.
https://www.businesswire.com/news/home/20191113005661/en/Ethos-Capital-Acqui...
Stephanie Perrin NCSG Chair _______________________________________________ CPWG mailing list CPWG@icann.org <mailto:CPWG@icann.org> https://mm.icann.org/mailman/listinfo/cpwg _______________________________________________ By submitting your personal data, you consent to the processing of your personal data for purposes of subscribing to this mailing list accordance with the ICANN Privacy Policy ( https://www.icann.org/privacy/policy) and the website Terms of Service ( https://www.icann.org/privacy/tos). You can visit the Mailman link above to change your membership status or configuration, including unsubscribing, setting digest-style delivery or disabling delivery altogether (e.g., for a vacation), and so on.
_______________________________________________ CPWG mailing list CPWG@icann.org <mailto:CPWG@icann.org> https://mm.icann.org/mailman/listinfo/cpwg
_______________________________________________ By submitting your personal data, you consent to the processing of your personal data for purposes of subscribing to this mailing list accordance with the ICANN Privacy Policy ( https://www.icann.org/privacy/policy) and the website Terms of Service ( https://www.icann.org/privacy/tos). You can visit the Mailman link above to change your membership status or configuration, including unsubscribing, setting digest-style delivery or disabling delivery altogether (e.g., for a vacation), and so on. _______________________________________________ registration-issues-wg mailing list registration-issues-wg@atlarge-lists.icann.org <mailto:registration-issues-wg@atlarge-lists.icann.org> https://mm.icann.org/mailman/listinfo/registration-issues-wg
_______________________________________________ By submitting your personal data, you consent to the processing of your personal data for purposes of subscribing to this mailing list accordance with the ICANN Privacy Policy ( https://www.icann.org/privacy/policy) and the website Terms of Service ( https://www.icann.org/privacy/tos). You can visit the Mailman link above to change your membership status or configuration, including unsubscribing, setting digest-style delivery or disabling delivery altogether (e.g., for a vacation), and so on.
_______________________________________________ CPWG mailing list CPWG@icann.org <mailto:CPWG@icann.org> https://mm.icann.org/mailman/listinfo/cpwg
_______________________________________________ By submitting your personal data, you consent to the processing of your personal data for purposes of subscribing to this mailing list accordance with the ICANN Privacy Policy (https://www.icann.org/privacy/policy <https://www.icann.org/privacy/policy>) and the website Terms of Service (https://www.icann.org/privacy/tos <https://www.icann.org/privacy/tos>). You can visit the Mailman link above to change your membership status or configuration, including unsubscribing, setting digest-style delivery or disabling delivery altogether (e.g., for a vacation), and so on.
participants (2)
-
Alan Greenberg -
Olivier MJ Crépin-Leblond