(Reuters) – Immigrants founded or cofounded almost half of 50 top venture-backed companies in the United States, a new study shows, underscoring some of the high stakes in potential immigration reform.
The venture capital community argues the study, completed by research group National Foundation for American Policy, proves the need to overhaul rules governing how entrepreneurs can immigrate to the United States to spur job development.
Getting off a plane earlier this year, Walter Isaacson got hit with what he called “the thing you least want to see on your iPhone”– six or seven missed calls from his biography subject, Steve Jobs.
Speaking to a crowd at the Computer History Museum Tuesday night in Mountain View, Calif., Isaacson described finally connecting with Jobs, who apparently had just seen the book’s proposed cover and didn’t care for it. Jobs let loose a stream of invectives. “He just started yelling,” Isaacson recalled. “You have no taste. The cover is gimmicky. It’s ugly.”
SAN FRANCISCO (Reuters) – Traveling to space or embarking on an expedition to excavate lost Mayan ruins are normally the stuff of adventure novels.
But for employees of Facebook, these and other lavish dreams are moving closer to reality as the world’s No. 1 online social network prepares for a blockbuster initial public offering that could create at least a thousand millionaires.
SAN FRANCISCO (Reuters) – Consumers spent a record $1.25 billion on Cyber Monday, according to comScore, highlighting how much people love shopping online.
But another group is in just as much of a frenzy over online retail: venture capitalists, who invested a record $2.39 billion in online shopping this year, according to Thomson Reuters data. That’s more than double last year’s $1.06 billion, which in turn was almost double the prior year’s investments in the sector.
LinkedIn founder Reid Hoffman wanted to be an academic when he was younger. Now, he’s an entrepreneur helping academics.
Greylock Partners, where Hoffman toils these days as a venture capitalist, is joining Benchmark Capital in leading a $15 million funding round for Edmodo, an education network for teachers that allows them to talk to each other easily, keep track of assignments, conduct quizzes, and do other basic tasks.
Let Facebook’s Mark Zuckerberg ruminate all he wants about how if he were starting Facebook today, he’d do it in Boston. There’s still no substitute for Silicon Valley, according to a panel of venture capitalists at the University of Pennsylvania’s Wharton School offices in San Francisco.
Mostly, that’s because of the concentration of talent, particularly engineering and product talent, in the Bay Area, they said. Becoming a sizeable company without access to that pool is difficult for most tech-based startups, they said.
You thought you were just goofing off with all those aimless web searches on George Clooney and Lady Gaga. But Ask.com was taking your timekillers and using them to predict what will happen next year.
Here’s how: analysts at the search engine, which allows users to ask questions rather than simply typing in a topic, assumed increasing numbers of questions asked on a topic signaled growing interest. (Ask.com has about 3 percent market share in search, according to research firm comScore Inc.) Based on the data from its users, Ask.com analysts are forecasting trends that will take off as 2012 unfolds.
SAN FRANCISCO, Nov 23 (Reuters) – Adam Holm has been
looking to sell his 3-bedroom Victorian house in San
Francisco’s Potrero Hill neighborhood all year, but he needs
one thing to happen first: gaming-company Zynga’s initial
“It seems foolish to put it on the market before when there
are a thousand people down the street who are about to make a
million dollars,” said Holm. His place is within walking
distance of Zynga’s headquarters, and he expects prices in the
neighborhood to rise significantly in the wake of the IPO.
Me Too is a scorned strategy among many entrepreneurs, but it sometimes works quite well.
Case in point: HouseTrip.com, which just lined up another $17 million in funding from investors including Index Ventures and Balderton Capital. Think of the company, which was founded in Switzerland and allows homeowners to rent out their properties on a short-term basis, as a kind of HomeAway or Airbnb, but with European flair. Its top destinations include Paris, London and Barcelona; rentals include a houseboat in Amsterdam and a cave house in Santorini.
By Sarah McBride and Poornima Gupta
In 1996, software giant Oracle Corp. came close to buying browser company Netscape Communications, but negotiations fell apart after Oracle’s board decided paying for Netscape would require too much dilution of Oracle’s stock.
Negotiations included Oracle CEO Larry Ellison, Chairman Jeffrey Henley, and President Ray Lane. On Netscape’s side, they included co-founder Marc Andreessen and Kleiner Perkins partner John Doerr, who backed the browser company. In the interest of secrecy, they and their bankers met at a house in Atherton, Calif., that Lane had just purchased. With no furniture, the group was forced to negotiate on makeshift tables created from sawhorses and plywood.