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Article from NYTimes.

Locating a tower in San Francisco using Apple’s Maps app.

For many people, phones have become an important way to navigate the world, and mobile maps are at the core of the journey. They are often the critical element in commerce, socializing and search. So far, Google has reigned supreme in the mobile map world, with its maps on every iPhone sold so far — and, of course, on every phone based on its own Android operating system.

Last week, though, Apple gave notice it would enter the battle, announcing that in the fall, its phones would no longer carry Google maps, but instead would have Apple’s own map service built in, part of its new mobile operating system. Maps are simply too important to be left to a rival.

The question is: Can Apple build a map service that does as good a job, or a better one, than Google has?

If Apple slips up, consumers in the highly competitive smartphone market may have a good reason to turn to Android phones. If Apple succeeds, Google will be under pressure at a time when it already has to deal with other competitors in map services.

“It makes Apple more valuable and denies Google a lot of user data, and a brand presence, on the iPhone,” said Ben Bajarin, an analyst with the technology research firm Creative Strategies. If Apple cannot meet or exceed Google’s maps, he added, “it will irk their power users,” who are the most valuable customers.

Apple’s move into maps was not exactly a surprise. It has bought a few companies that make mapping features, like three-dimensional visualizations, and has secured rights to data like the names and layouts of streets in over 100 countries from TomTom, a big digital map company based in the Netherlands.

But making digital maps is not easy. Google has spent years working on its services, pouring all kinds of resources into the effort, including its Street View project to photograph and map the world. It will be hard to duplicate that depth and breadth.

“Apple has gotten into a place that is very technical, quite a challenge, and like nothing they’ve done before,” said Noam Bardin, chief executive of Waze, a mapping service that provides real-time traffic information by tracking the movement of phones.

Still, it would be foolish to underestimate Apple, said John Musser, editor of ProgrammableWeb, an online service that follows mobile application development.

“Apple so far has close to nothing in maps, because they never had a product before,” Mr. Musser said. “But they are hardly empty-handed.”

Mapping technology is a growing field that draws on everything from aerial photography to the movement of the continents, to individual comments on Web sites about a favorite hiking trail or a bad dining experience. ProgrammableWeb counts 240 mapping-related services that people building mobile map applications can draw from. That is up 73 percent from a year ago, and 243 percent from 2009.

Apple has offered few details about its plans for the map service, which is part of the new operating system, iOS 6, that was unveiled at the company’s annual developer conference in San Francisco. Some of the features may come from companies that it now owns. Apple may buy other features — like store locations and hours, and information about walking paths, landmarks and public transportation — from data companies, independent developers and consumer information services like Yelp.

Apple can expect to pay a lot of money for this information. Google declined to comment on what it spends on its map business, but others in the industry estimate that the figure is $500 million to perhaps $1 billion annually, equal to a fifth of its budget for research and development.

For consumers, an important part of the Apple service is likely to be the apps that support and enhance it. This week, Apple is set to widely release its instructions, known as a software development kit, to guide developers in designing these apps.

Those instructions are important to hundreds of independent software developers like Scott Rafer, whose start-up is making user-friendly walking directions for maps, based on things like landmarks and street views. He hopes to produce an app that is a hit in the app store, or even wins Apple’s eye as it looks for more partners.

“We’re all trying to figure out the next 100 days” before Apple releases the operating system to consumers, Mr. Rafer said. “Does Apple want gorgeous features, or do they want ubiquity?”

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Article from AboveTheCrowd.

This morning, Intuit announcedits agreement to acquire one of Benchmark’s portfolio companies, Demandforce, for $424mm. As with Instagram, Benchmark Capital is the largest institutional investor in Demandforce. Unlike Instagram, which is a consumer application and is extremely well known, Demandforce focuses on local professional businesses and has chosen to keep an intentionally low profile – a strategy that has served them well.

Great entrepreneurs often blaze their own trails, and the founder and CEO of Demandforce, Rick Berry, is no different. In a day and age of social media, where many companies project a persona much larger than reality, Demandforce chose instead to focus on its customers and its products. We never even announced Benchmark’s funding of the company, which I believe is unprecedented. The Demandforce team always felt that the attention should be focused on the customer rather than the company.

Demandforce’s customer mission has always been the same – to help small businesses thrive in an evolving and increasingly complex connected world. Today, they are the leading provider of interactive “front office” SAAS services to thousands and thousands of professional small business owners. The Demandforce product is a powerful web-based application that seamlessly integrates with existing workflow systems, works automatically, and delivers guaranteed results. Through this, Demandforce provides local businesses – like salons, auto shops, chiropractors, dentists, and veterinarians – with affordable and easy access to the tools and platforms that large enterprises use to communicate with customers, build a strong online reputation and leverage network marketing. It you have ever received an automated communication from your dentist, it was likely sent through Demandforce.

Demandforce’s success puts it at the forefront of the burgeoning “Local Internet” wave. The combination of Internet pervasiveness and smartphone penetration has led to a complete reconfiguration with regard to how local businesses interact with their customers. These local businesses have traditionally spent over $125B/year on traditional media, and this is only in the U.S. But the channels they have historically used, such as the newspaper and the yellow pages, are increasingly compromised. These business owners know they need new solutions, and these dollars will be reallocated to these exciting new platforms. Benchmark believes this “Local Internet” wave is many times larger than the “social” and “mobile” themes with which it is often contrasted. In addition to DemandForce, Benchmark is fortunate to have backed such “Local Internet” market leaders as OpenTable (OPEN), Zillow (Z), Yelp (YELP), Peixe Urbano, GrubHub, Uber, and Nextdoor.

It has been an honor and a pleasure to work with Rick Berry, Patrick Barry, Hoang Vuong, Mark Hale, Sam Osman and Annie Tsai at Demandforce. This is truly one of the best teams ever assembled. It was also a pleasure to work with Steve Kostyshen as well as Mike Maples of Floodgate and Peter Ziebelman of Palo Alto Venture Partners, all of whom preceded us in their investment, and all of whom are passionate fans of the company.

It is certainly thrilling to see a team of entrepreneurs reach a significant milestone such as this.  That said, it is equally bittersweet as it means we will no longer be working directly with them on this incredibly compelling mission. Our loss is unquestionably Brad Smith and Intuit’s gain. Combining the leading “front office” small business SAAS vendor with the iconic Silicon Valley small business company is an incredibly compelling combination.

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Article from AboveTheCrowd.com  by Bill Gurly

A few relevant scenes from the recent blockbuster Moneyball:

Peter Brand: Billy, Pena is an All Star. Okay? And if you dump him and this Hatteberg thing doesn’t work out the way that we want it to, you know, this is…this is the kind of decision that gets you fired. It is!
Billy Beane: Yes, you’re right. I may lose my job, in which case I’m a forty four year old guy with a high school diploma and a daughter I’d like to be able to send to college. You’re twenty five years old with a degree from Yale and a pretty impressive apprenticeship. I don’t think we’re asking the right question. I think the question we should be asking is, do you believe in this thing or not?
Peter Brand: I do.
Billy Beane: It’s a problem you think we need to explain ourselves. Don’t. To anyone.
Peter Brand: Okay.

———————————

Grady Fuson: No. Baseball isn’t just numbers, it’s not science. If it was then anybody could do what we’re doing, but they can’t because they don’t know what we know. They don’t have our experience and they don’t have our intuition.
Billy Beane: Okay.
Grady Fuson: Billy, you got a kid in there that’s got a degree in Economics from Yale. You got a scout here with twenty nine years of baseball experience. You’re listening to the wrong one. Now there are intangibles that only baseball people understand. You’re discounting what scouts have done for a hundred and fifty years, even yourself!

These two scenes from Moneyball illustrate something that may be essential to modern business: the incredible value of youth and innovative thinking relative to traditional experience. It turns out that the Moneyball character Peter Brand’s real name is not Peter Brand (played by Jonah Hill), but rather Paul DePodesta. And he didn’t go to Yale, but instead Harvard. He was indeed young – twenty-seven when he went to work for Billy Beane – and he did have an actual degree in Economics. What’s more, as you can see in the interaction above, Billy valued Paul’s (Peter Brand’s) opinions and decisions – despite the fact that he was a complete novice with respect to baseball operations.

A month or two ago, I had the unique opportunity to share the stage with Billy Beane at a management offsite for one of the leading companies in the Fortune 500. We were both fielding questions about innovation, and what one can do to keep their organization innovative. I talked about how many of the partners that have joined Benchmark Capital have been extremely young when they joined, including our most recent partner Matt Cohler who joined us at the age of 31. At Benchmark, we believe that young partners have many compelling differentiators. First, they will ideally have strong connections and compatibility with young entrepreneurs, who are frequently the founders of the largest breakout companies. They are also likely to be frequent users of the latest and greatest technologies (all the more important with today’s consumer Internet market). Like the “Moneyball” situation described herein, young VCs are open to new ways of doing things. This form of “rule-breaking,” or intentionally ignoring yesterday’s doctrine, may in fact be a requirement for successful venture capital investing.

When I mentioned this intentional bias towards youth, Billy Beane abruptly concurred. He noted that injecting youth into the A’s organization is also a key philosophy of his. Paul DePodesta may have been the first young gun that Billy hired, but he was far from the last. Billy continues to recruit young, bright, talented people right out of college to help shake up the closed-minded thinking that can develop with an “experience only” staff. Also noted was the fact that if a certain “experience” is shared by all teams in the league, then it is no longer a strategic weapon. You can only win with a unique advantage.

The impact of youth on the technology scene is undeniable. The included table lists the founding age of some of the most prominent founders of our time. The facts are humbling and intimidating, especially for someone who is no longer in their twenties or early thirties. Can someone in their forties be innovative? Or, do the same things that produce “experience” constrain you from the creativity and perspective needed to innovate?

Lets look at some of the specific advantages of youth. First, as mentioned before, without the blinders of past experience, you don’t know what not to try, and therefore, you are willing to attempt things that experienced executives will not consider. Second, you are quick to leverage new technologies and tools way before the incumbent will see an opportunity or a need to pay attention. For me this may be the bigger issue. The rate of change on the Internet is extremely high. If the weapon du jour is constantly changing, being nimble and open-minded far outweighs being experienced. Blink and you are behind. Youth is a competitive weapon.

The point Billy raised regarding the fleeting value of experience is also important to consider. As the world becomes more and more aware of a trick or a skill, the value of that experience begins to decay. If word travels fast, the value of the skill diminishes quickly. Best practice becomes table stakes to stay-afloat, but not to get ahead. We see examples of this every day with Facebook application user acquisition techniques. Companies find a seam or arbitrage that creates a small window of opportunity in the market, but quickly others mimic the same technique and the advantage proves fleeting.

Back before the Yahoo BOD hired Carol Bartz, there was much speculation about the important traits for Yahoo’s next CEO. Most of the analysis honed in on two key traits for the company’s next leader – the ability to lead and the ability to innovate. I remember trying to think about leaders that I thought would have a chance at having a measurable impact. On one hand, you could put a very young innovative executive into the role, but it is hard to imagine handing a $15B public company over to someone remarkably inexperienced. The other side of the coin is equally difficult – thinking of a seasoned executive who has the ability to dramatically innovate Yahoo’s products and business model.

There were only a handful of people (as few as three) that I could think of at the time that fit this second profile. Thinking back now, they all shared the following characteristic: despite being experienced CEOs, these individuals all “thought young” i.e. they were open-minded and curious. And they did not believe that experience gave them all the answers. These type of executives love diving head-first into the latest and greatest technologies as soon as they become available.

If you want to stay “young” and innovative, you have no choice but to immerse yourself in the emerging tools of the current and next generation. You MUST stay current, as it is illusionary to imagine being innovative without being current. Also realize that the generational shifts are much shorter than they were in the past. If you were an innovative Internet company five short years ago, you might have learned about SEM and SEO. Most of the newly disruptive companies are no longer using these tools as paths to success – they have moved on to social/viral techniques. The game keeps changing, and if you are not “all-in” in terms of learning what’s new, than you may be falling rapidly behind.

Consider these questions:

  1. When a new device or operating system comes out do you rush out to get it as soon as possible – just because you want to play with the new features? Or do you wait for the dust to settle so that you don’t make a mistaken purchase. Or because you don’t want to waste your time.
  2. Do you use LinkedIn for all of your recruiting, or do you mistakenly think that LinkedIn is only for job seekers? How many connections do you have? Is your profile up to date? (When Yahoo announced Carol Bartz as CEO, I did a quick search on LinkedIn.  She was not a registered user.)
  3. When you heard that Zynga’s Farmville had over 80MM monthly users, did you immediately launch the game to see what it was all about, or do you make comments about how mindless it is to play such a game? Have you ever launched a single Facebook game?
  4. Do you have an Android phone or do you still use a Blackberry because your Chief Security Officer says you have to? I know many “innovators” who carry an iPhone and an Android, simply because they know these are the smartphones that customers use. And they want exposure to both platforms – at a tactile level.
  5. Do you use the internal camera app on your iPhone because it’s easy, or have you downloaded Instgram to find out why 27mm other people use that instead?
  6. Do you leverage Twitter to improve your influence and position in your industry or is it more comfortable for you to declare, “why would I tweet?,” before you even fully understand the product or why people in similar roles are leveraging the medium? Do you follow the industry leaders in your field on Twitter? Do you follow your competitors and customers? Do you track your company’s products and reputation?
  7. How many apps are on your smart phone? Do you have well over 50, or even 100, because you are routinely downloading each and every app from each peer and competitor you can to see how others are exploiting the environment? Do you know how WhatsApp, Voxer, and Path leveraged the iphone contact list for viral distribution?
  8. Do you know what Github is and why most startups rely on it as the key center of their engineering effort?
  9. Have you ever mounted an AWS server at Amazon? Do you know how AWS pricing works?
  10. Does it make sense to you to use HTML5 as your mobile solution so that you don’t have to code for multiple platforms? Does it bother you that none of the leading smartphone app vendors take this approach?
  11. When you are on the road on business, do you let your assistant book the same old car service, or do you tell them, “I want to use Uber just to see how it works?”
  12. When Facebook launched the new timeline feature did you immediately build one to see what the company was up to, or did you dismiss this as something you shouldn’t waste your time on?
  13. Have you been to Glassdoor.com to see what employees are saying about your company? Or have you rationalized why it’s not important, the way the way the old-school small business owner formerly dismissed his/her Yelp review.

The really great news is that being a “learn-it-all” has never been easier. With the Internet, high-speed broadband, SAAS, Cloud-services, 4G, and smart-phones, you can learn about new things, 24 hours a day, no matter where you are or what you do. All you need is the internal drive and insatiable curiosity to understand why the world is evolving the way it is. It is all out there for you to touch and feel. None of it is hidden.

There are in fact many “over 30” executives who can go toe-to-toe with these young entrepreneurs, precisely because they keep themselves youthful by leaning-in and understanding the constantly evolving frontier. My favorite “youthful” CEOs are people like Marc Benioff and Michael Dell, who frequently can be found signing up for brand new social networking tools and applications. Reed Hastings has more than once answered Netflix questions directly in Quora.  Jason Kilar frequently communicates directly with his customers through Hulu’s blog. Rich Barton, the co-founder of Expedia and Zillow is one of those people carrying both an Iphone and an Android, and is constant learning mode. I would also include Mark Cuban, whose curiosity is voracious. The other NBA owners never saw him coming. And lastly, there is Jeff Bezos, who seems to live beyond the edge, imagining the future as it unfolds. Watch the launch of Kindle Fire in NYC, and you will have no doubt that Jeff plays with these products directly and frequently.

Our last table highlights the stats from the Twitter account of some of these “youthful,” learn-it-all executives (sans Mr. Bezos – we all wish he tweeted). If you don’t find this list interesting, think about the thousands and thousands of executives out there who are nowhere to be found with respect to social media. They take the easy way out, likely blaming their legal department. They intentionally choose not to learn and not to be innovative. And they refuse to indoctrinate themselves to the very tools that the disrupters will use to attack their incumbency. That may in fact be the most dangerous path of all.”

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Article from SFGate.

“Facebook and Yelp are set to lead the biggest year for U.S. initial public offerings by Internet companies since 1999, testing demand for IPOs after investors lost money on Zynga and Pandora Media.

With Facebook considering the largest Internet IPO on record and regulatory filings showing that at least 14 other Web-related companies are planning sales, the industry may raise $11 billion next year, according to data compiled by Bloomberg. That would be the most since $18.5 billion of IPOs in 1999, just before the dot-com bubble burst.

While surging sales growth may lure investors to Facebook, the biggest social-networking site, heightened stock volatility and Europe’s sovereign-debt crisis could temper the pace of global IPOs after a 38 percent decline in 2011. Even Internet companies may cut valuations for their offerings after Zynga, the largest developer of games for Facebook, and online radio company Pandora slumped following share sales this year, according to researcher Morningstar.

“Technology is still a place where you can get outperformance in terms of growth against a tepid market backdrop,” said David Erickson, global co-head of equity capital markets at Barclays. “You might see more IPOs emerge if we get resolution in Europe or stability that makes investors more comfortable with the overall market.”

IPOs raised $155.8 billion in 2011, compared with $252 billion a year earlier, and U.S. initial offerings generated $38.8 billion, about 10 percent less than in 2010, Bloomberg data show. In Asia, IPOs this year have raised $79.2 billion, less than half the $176.5 billion last year, Bloomberg data show.

While funds raised in Europe rose for the year, they sank more than 95 percent since August from a year earlier after the worsening debt crisis and a cut to the U.S. credit rating sapped confidence in global markets.

Morgan Stanley

Morgan Stanley took the biggest share of both U.S. and global IPOs for the second year in a row after working on initial share sales by Glencore International, HCA Holdings and Michael Kors Holdings. Pen Pendleton, a spokesman for Morgan Stanley, declined to comment.

The bank also was the lead underwriter on Zynga and Pandora’s IPOs. The stocks’ declines following those public debuts may prompt greater scrutiny of valuations in 2012, said James Krapfel, an analyst at Morningstar in Chicago.

“Investors will take a harder look at the numbers going forward and need to see strong revenue and profit growth,” Krapfel said. Bookings, an indication of deferred revenue, at Zynga have increased more slowly this year, suggesting the company’s IPO price was too high, according to a Dec. 9 Morningstar report.

Zynga, which raised $1 billion in its IPO this month, has since fallen 2.5 percent after going public at a valuation three times that of Redwood City rival Electronic Arts. Oakland’s Pandora has plunged 36 percent since its June 14 IPO.

Facebook, based in Menlo Park, is examining a $10 billion offering that would value it at more than $100 billion, a person with knowledge of the matter said last month. Total sales at Facebook in 2012 may surge 52 percent to 62 percent from this year’s projected $4.27 billion through increased ad revenue, according to Debra Aho Williamson, an analyst at EMarketer. Industrywide, the display ad market may surge 24 percent to $12.3 billion this year.

“Tech offerings generally offer real growth, and investors get very excited when they can’t find growth in the broader market,” J.D. Moriarty, co-head of equity capital markets for technology in the Americas at Bank of America, said at a briefing this month.

Yelp, the consumer-review website operator, and e-mail marketer ExactTarget both filed for IPOs in November. This year, 19 Internet companies generated $6.6 billion in U.S. initial share sales.

Going public

Glam Media, a Web-advertising company that targets women, plans to make its first IPO filing by the end of the second quarter, people familiar with the matter said. AppNexus, the online-ad company backed by Microsoft, may go public in late 2012, Chief Executive Officer Brian O’Kelley said. Companies like MobiTV and Eloqua, which rely on the Internet to distribute cloud- based software products to clients, may seek an additional $650 million, regulatory filings show.

In Europe, the IPO market has “essentially come to a halt” as the sovereign-debt crisis spread from Greece to Portugal and Italy, said Mary Ann Deignan, head of equity capital markets for the Americas at Bank of America. In September, Siemens AG suspended an IPO of its Osram lighting unit and Spain pulled the initial public offering of its lottery operator as global stocks headed for a one-year low.

“There are companies that would like to go public but are waiting for the right market environment to do so,” said Deignan, speaking at a briefing this month. “As long as policymakers and politicians control the headlines, Europe remains a challenge.”

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/28/BUE01MHK4V.DTL#ixzz1hv9KomS3

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From SF Gate.

“Facebook‘s latest move to add “where” to the list of personal information members share with the world gives the social networking firm yet another tool in its march to become the Internet’s most dominant destination.

And yet predictably, the new Facebook Places check-in feature has ignited a new round of debate over whether the Palo Alto firm is doing enough to safeguard its members’ privacy.

Facebook Places began rolling out Wednesday night to the company’s members in the United States with an upgraded application for the iPhone and iPod Touch that includes an icon that resembles a Google Maps location pin.

Launching the app lets members share their current location, which is automatically plotted by their phone’s GPS technology. They can tag Facebook friends who might also be there and use a “Here Now” function to see who else might be in the area. On Facebook.com, the Here Now map is powered by Google-rival Microsoft’s Bing Maps.

Tapping into trend

Places taps into the same social sharing game of “check-in” that has caused technology pundits to declare startups like Foursquare and Gowalla as part of the latest hot tech trend. This year, microblogging service Twitter also launched a location-tagging feature to its tweets and online recommendation service Yelp enabled check-ins on its mobile application.

But Facebook vice president Chris Cox said Places represents more than just a game, because it uses virtual technology to connect people in the real world. Over time, locations can accumulate stories and memories that later generations can access, Cox said.

San Francisco’s Ocean Beach, for example, could be tagged as the place “where your parents had their first kiss,” Cox said. “What starts to happen is the physical reality we’re in comes alive with the human stories that we’ve told there.”

Facebook worked with other location-based services to integrate their apps with Places.

“This basically validates that we’re on to something, that this will be something much, much bigger going forward,” Holger Luedorf, vice president of mobile and partnerships for Foursquare, said during a Facebook news conference.

But analysts say Facebook’s entry into the location-based services could blow the others out of the water because the social network has such a broad reach with mainstream audiences. Worldwide, Facebook has more than 500 million active members who span all age and marketing demographics. Foursquare, by comparison, has at least 3 million members and is growing quickly.

Working with Facebook may give companies like Foursquare “a little advantage, but the advantage is minimal and it’s not going to last very long,” said Susan Etlinger, a consultant with the Altimeter Group of San Mateo. “My Aunt Sue might not be on Yelp, but I know she’s on Facebook.”

Places also completes the public picture of members, who are already encouraged to share who they are, what they are doing and when. Facebook has become one of the Internet’s top destinations for finding news, viewing photos and watching video. And according to Internet researcher eMarketer, Facebook is on track to bring in $1.28 billion in online advertising in 2010, up from $835 million this year. The company is also developing its own virtual payment system, Facebook Credits.

Facebook officials sidestepped questions about how the firm plans to generate revenue from Facebook Places.

But analyst Augie Ray of Forrester Research Inc. said Places enters Facebook into the emerging mobile advertising space.

“There is no question that knowing where people are and what places they visit will be valuable data for Facebook and its advertisers,” Ray said. “It will permit Facebook to better understand individual’s likes and dislikes, not simply based on what buttons they click, but on their actual real-world behavior. And knowing where an individual is at a given moment will permit Facebook to serve better and more relevant ads based on user location.”

ACLU raises questions

But the San Francisco office of the American Civil Liberties Union immediately questioned whether Places has again left Facebook members open to privacy problems.

“Facebook made some changes to its regular privacy practices to protect sensitive location-based information, such as limiting the default visibility of check-ins on your feed to ‘Friends Only,’ ” the ACLU’s Nicole Ozer wrote in a blog post. “But it has failed to build in some other important privacy safeguards.”

In a sharply worded rebuttal, Facebook spokesman Barry Schnitt said Places “sets a new standard for user control and privacy protection for location information. We’re disappointed that ACLU’s Northern California office ignores this and seems to generally misunderstand how the service works.””

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Here is an Article worth reading from Ajax World Magazine.

“As we start this year, hope is mounting on a vibrant IPO market, better than last couple of years. This article lists 20 companies that are hot candidates for IPO. The list has some well-known names like Facebook, Skype, LinkedIn, Twitter, Digg, Yelp, LiveOps, and Tesla Motors. The less known names are – Associated Content, Brightcove, Chegg, Demand Media Etsy, Exact Target, Gilt Group, Glam Media, Rearden Commerce, Workday, and Zynga.

Workday is the new company founded by Peoplesoft founder David Duffield. It’s a SaaS-based HR and ERP company. Zynga is a hot company in the virtual gaming space on the Internet. It’s famous game Farmville is raking in good revenue from Facebook users. I hear the game is quite addictive.

Twitter is rumored to be valued at billion plus dollars, that with very little revenue. It has the publish-subscribe model where conversations-by-subject can be tracked. That should be a bonanza for marketers,  seeking specific target audiences.

Most of the companies in the list are addressing “content” either the discovery or the publishing of. We don’t see the old-fashioned enterprise applications anywhere, a reflection of the changing times. Workday is in that category, but purely cloud-based offering just like SalesForce.com few years back.

Companies like LinkedIn, Facebook, Twitter, and Skype brag huge number of eyeballs (users), bringing back memories of the dot.com days. Jeff Bezos in the height of the boom had said, “I spell profit as prophet”.

Let us get back to some crazy wealth-creation via IPOs. It’s about time.”

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