X

Next for Bigfoot Hunter: IPO

Profits could be elusive or nonexistent, analysts warn
By Rob Quinn,  Newser Staff
Posted Jan 21, 2015 3:48 AM CST

(Newser) – If you trust the business sense of a guy who thought a rubber gorilla suit was a Bigfoot carcass, the Wall Street Journal may have uncovered an exciting investment opportunity for you. Tom Biscardi, the self-proclaimed "leading expert" on Bigfoot, has founded a firm called Bigfoot Project Investments and aims to raise $3 million by selling stock in an upcoming initial public offering. The company plans to make money through DVD sales, but its filings with regulators say it will also budget more than $100,000 a year to "capture the creature known as Bigfoot." As Benzinga notes, other "Bigfoot-themed businesses" have raised money from Bigfoot enthusiasts, but this is the first to try for such a substantial amount.

story continues below

Biscardi claims he has had multiple "up close and personal" encounters with the mythical creature, but he admits he was fooled by the gorilla suit. Analysts warn that profits from the venture could be as elusive as its namesake. "This would be the kind of thing where if you believed in Bigfoot, or you thought there really was a Bigfoot and you actually had some money to burn and wanted to play with this, then go for it," the president of Chapin Hill Advisors tells the Journal, which notes that when the Securities and Exchange Commission vets IPOs, it's more interested in accounting rules than the merits of the company or the existence of Bigfoot. (Who may, a researcher says, be living in Russia.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X