Mark Ghuneim and David Peris dug up this delicious chestnut from January, 1999: "Internet search engine Yahoo! Inc. confirmed Thursday it will buy GeoCities, a fast-growing Web site community, in a $3.6 billion deal that will further solidify Yahoo!'s position as a frontrunner in the online popularity contest." RIMSHOT.
Makes a billion dollars for Tumblr seem like a steal. Here's what I don't understand: who's blabbin' about the potential acquisition of Tumblr by Yahoo!? Oh, gosh, whoever benefits from that. Tumblr made $13 million in 2012, so $1,000,000,000 sounds totally natural.
Oh, and how was GeoCities at the time of its Yahoo! acquisition? "In [...]
It's been really quiet on the Internet Bubble front, because no one likes that narrative. It's bad for everyone! (Except some people.) But here's a report from close to the startup incubators that makes it pretty obvious that nothing's changed in the last year. Or if it has changed, then for the worst: "Y Combinator had sixty-five companies present. And we saw 500 eager investors, frenzied almost, excited to invest in entrepreneurs. One investor emailed me four times, texted me three times, called me and sent me a message on LinkedIn—desperate to get a check in before the round closes. No business plans, not even pitch decks [...]
"When Betabeat first visited General Assembly a few weeks before it opened, co-founder Adam Pritzker told us that the vision was to create an educational space free from the pressures of venture capital so often tied into startup incubators and accelerators.
That has all changed now." —Yup: with investments of $4.5 million (asdfasdjfl???), General Assembly can do all kinds of things! But they've got a plan, writes their cofounder: "So will we open a bunch more campuses? Put all our classes online? Start training executives? We don’t know."
"The party was friendly but ultimately like all other startup parties: serial startup consultants Rex Sorgatz and Rachel Sklar showed up, as did several members of the ad agency Barbarian Group… [People] were surprised to find I’d just asked my way into the party; everyone else attending was a friend or a friend’s plus-one, which probably proves that the same ten people are doing everything in New York startup-land." —Startup launch parties reviewed: "Fortnighter." (Previously: the "Socialisting" launch party.)
The Groupon IPO filing is delightful! It's an enormous, amazing business.
We increased our subscriber base from 152,203 as of June 30, 2009 to 83.1 million as of March 31, 2011.
We sold 116,231 Groupons in the second quarter of 2009 compared to 28.1 million Groupons in the first quarter of 2011.
We grew from 37 employees as of June 30, 2009 to 7,107 employees as of March 31, 2011.
That's incredible! Also? Net loss, before taxes, for all of 2010? $456 million. They lost $146 million last quarter. So yes, last year they lost more than half the value of this year's planned $750 million [...]
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