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  • TechNest Report | TNR » Posts in 'Start-ups' category

    Facebook Buys FriendFeed, Gets Ready For Battle With Twitter


    Facebook has announced its acquisition of real-time social network site FriendFeed. Financial details of the deal were not disclosed.

    This is unmistakably a move to become more “real-time” and more competitive with Twitter. FriendFeed never caught on with the mainstream public like Facebook has, instead being used by passionate tech fans the world over. The social network was the first to deploy true real-time updates – which didn’t require a page refresh to update information. It did so all while maintaining a very clean interface. Sites like Facebook regularly “adopted” (read: aped) these features.

    As part of the deal, FriendFeed will continue to operate on its own and all FriendFeed employees will join the Facebook team. Most importantly, Facebook will be able to call on FriendFeed cofounders — ex-Google executives – Bret Taylor and Paul Buchheit. As Facebook realized the true power of real-time networks (real-time search), it tried to acquire Twitter. That deal fell through.

    I expect FriendFeed to operate independently for the next six months to a year, at which point the stand-alone service will be discontinued and FriendFeed’s features be rolled into those of Facebook. To become more relevant in the land of real-time, however, Facebook will need to do much more on the side of mobility, giving users a bigger incentive to plug information into the social network on their cell phones. Currently, Twitter dominates that space, with an abundance of mobile apps for multiple mobile platforms.

    Full press release: Read more »

    Posted in Acquisitions, Business, Decisions, Facebook, FriendFeed, Social Networking, Start-ups, Web 2.0

    Tesla Turns First Profit Ever In July: Is It Sustainable?


    Tesla Motors, the electric car start-up headquartered in San Carlos, California, has announced it has achieved profitability in the month of July. It took Tesla seven years to turn a profit – a feat many other start-ups never achieve. In the month of July 2009, the company earned $20 million in revenue, which exceeded expenses by about $1 million. Since Tesla is still a private company, it has no formal obligation to disclose details when it comes to publishing financial information. In that regard, the firm was very selective about what information it revealed. With that, let’s take a look at the details behind the numbers. Read more »

    Posted in Automotive, Business, Numbers, Start-ups, Tesla Motors

    Biz Tip: To Business plan, Or Not To Business Plan?

    You have an idea for a business. What’s the next thing you should do? Write a business plan?

    According to Kevin Ryan, ex-CEO of DoubleClick and founder of six start-ups, the answer is a resounding “no.” Kevin’s advice is that writing a business plan – while helpful – won’t be as useful as putting together some seed money and starting the business. Kevin also advises not to work with an investor if he is going over the details of your financial model too closely: it’s a sign that he doesn’t know what he’s doing. Watch the man say it himself below!

    I agree with Kevin for the most part! Sometimes, however, it’s useful to put together a plan of action, rather than a full-fledged business plan. Doing so will make the entrepreneur think of certain details that s/he has not yet thought of, and allow for making decisions in a proactive, rather than in a reactive matter.

    Posted in Biz Tip, Business, Decisions, Start-ups
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