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There’s A Yeti In The Brokerage: Bigfoot-Hunting Firm Files For IPO

There’s A Yeti In The Brokerage: Bigfoot-Hunting Firm Files For IPO
[Photo: Flickr user Derek Hatfield]

A company dedicated to proving the existence of Bigfoot is filing for an IPO.

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Bigfoot Projects Investment, a small startup with less than $7,000 in sales and assets, expects to begin trading in the next few months–and to raise funding for expeditions to find the legendary biped.

It’s one of the first times that cryptozoology (the search for animals such as the Loch Ness Monster, the chupacabra, or living dinosaurs) has made it into the halls of the Securities and Exchange Commission.

The company describes itself as an “emerging growth” business and has a profit model based around creating movies and selling DVDs.

According to the Wall Street Journal’s Yogita Patel, the company’s CEO has a controversial background. Bigfoot Projects Investment CEO Carmine “Tom” Biscardi previously held a press conference in 2008 to announce the discovery of what he described as a carcass of a Bigfoot or Sasquatch. The so-called carcass turned out to be a gorilla costume that was stuffed with animal parts. In 2005, Biscardi claimed to offer a Bigfoot webcam–and had to offer refunds after footage of the creature never appeared.

Biscardi frequently appears on radio and television programs to discuss Bigfoot and Sasquatch, and his firm Searching for Bigfoot (listed as a predecessor to his current company in SEC documents) offers a steady stream of public appearances, books, videos, and other merchandise. Cryptozoology, the paranormal, and Forteana can be big business–the Ancient Aliens franchise is a television mainstay and SyFy’s Ghost Hunters is entering its 10th season.

[via The Wall Street Journal]

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