Jonathan Abrams ignited the social networking craze by making it easy for people to connect with groups of acquaintances on Friendster, the first successful social networking Web site launched in 2002.
Tech nerds and gadget geeks over the age of 35 should have no trouble recalling the company Ziff Davis – a former publishing powerhouse home to such magazines as Computer World, PC Week and Red Herring. Ziff’s glory days were in the 1980s and 1990s and it scaled dizzying heights as its magazines groaned under the strain of advertising. Media observers would weigh issues of say Computer World for sport not unlike putting the September issue of fashion mags on the scales.
Goldman Sachs' old-school Facebook deal brings a new set of challenges. The bank is raising up to $1.5 billion from clients to invest in the social network while putting in $450 million itself. Like Morgan Stanley's reported deal with online coupon service Groupon, it looks like classic merchant banking. With hot firms in the driver's seat, however, the banks could find themselves in for a wild ride.
When was the last time you played Foursquare? Not the mobile app that lets you check in at a coffeeshop or store in hopes of becoming its “mayor”. But the original game involving a red rubber ball and a grid chalked onto asphalt.
Innovation doesn’t know what day it is. It’s also true that we never seem to predict the most interesting things which actually do happen. Oh sure — years of speculation preceded Apple’s iPad announcement last January. But did anyone actually figure on the iPad?
Facebook had an extraordinary year in 2010, bringing in $2 billion in revenue, being named best place to work and seeing Mark Zuckerberg named Time magazine’s Person of the Year. One key strategy that drove that success, as Zuckerberg made clear when he announced Facebook Social Inbox, was that the company built a platform that adapted to its most active users.
As the number of TV networks and programs has exploded in the last decade, a major concern for cable companies has become how will viewers find their favorite shows among 1,000 channels. The problem has gotten even worse with the availability of more and more TV shows online, where some of the helpful network silos have disappeared altogether.
Michael Birch, the founder of online social network Bebo, who sold the company to AOL over two years ago for a spectacular sum, is linked up again to Bebo as an investor and advisor.
A unique feature of the web is that it was designed by idealists and capitalists alike. A hacker sensibility fights for an open, democratic structure, while profit-minded businesses helped shape it into a thriving industry. The more successful companies, like Google and Facebook, understand both ethics equally.