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Who will win the next high-tech jackpot?
A lenghthy piece by the AP on Web 2.0. Worth the read. Here is the opening paragraph:
PALO ALTO, Calif. - As Facebook.com's mastermind, Mark Zuckerberg is sitting on a potential gold mine that could make him the next Silicon Valley whiz kid to strike it rich.
But the 22-year-old founder of the Internet's second largest social-networking site also could turn into the next poster boy for missed opportunities if he waits too long to cash in on Facebook Inc., which is expected to generate revenue of more than $100 million this year. The bright outlook is one reason Zuckerberg felt justified spurning several takeover bids last year, including a $1 billion offer from Yahoo Inc. (Nasdaq:YHOO - news)
And then there was this surprised stat...
In 2006, the average price paid for a startup funded by venture capitalists rose 19 percent to $114 million. That was the highest amount since the dot-com frenzy of 2000 when the average price of venture-backed startups peaked at $337 million, according to data from Thomson Financial and the National Venture Capital Association.
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February 23, 2007 at 06:25 pm by fiendster, 301 views, 1 comment
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at 18:31 on February 23rd, 2007
At NowPublic, this is high praise from NowPublic editors! Your story is now on the home page for awhile, and everywhere else the “good stuff” box shows up. Many thanks for your great work.