Word: start-up
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...room. Microsoft announced yesterday it would invest $240 million for a 1.6 percent stake in Facebook, putting an end to a bidding war over a share in the popular social networking site. Mark E. Zuckerberg, formerly of the Class of 2006, founded Facebook in 2004 with $1,000 in start-up money and dropped out of Harvard his junior year to run the company full-time. He currently maintains 20 percent ownership of the company, giving him a theoretical net worth of $3 billion. After founding Facebook, Zuckerberg strove to maintain the site’s independence, saying...
...room. Microsoft announced yesterday it would invest $240 million for a 1.6 percent stake in Facebook, putting an end to a bidding war over a share in the popular social networking site. Mark E. Zuckerberg, formerly of the Class of 2006, founded Facebook in 2004 with $1,000 in start-up money and dropped out of Harvard his junior year to run the company full-time. He currently maintains 20 percent ownership of the company, giving him an estimated net worth of $3 billion. After founding Facebook, Zuckerberg strove to maintain the site’s independence, saying...
...latest of the many developments in Cambridge’s technological arena. Cambridge city also hosts a well-designed Web site with detailed descriptions, pictures, and calendars of local events, and even a virtual tour, courtesy of an alliance between the Harvard Square Business Association and EveryScape, a technology start-up. We hope that Cambridge continues to partner with its resident businesses and universities to push the technological envelope in terms of the services it offers its citizens...
...right leader in China and India, for many companies, is someone with the drive and creativity to manage what often feels like a start-up. The highest hurdle is usually building a local workforce from the ground up in savagely competitive labor markets. "Everyone talks about the huge populations, but in reality there's only a tiny number of people qualified for the jobs you need--and everybody's fighting for them," says Ron Leonhardt, 41, Target's director of human resources in the region. Leonhardt oversees the hiring of many of the 500 workers in Target's sourcing...
...business plan isn't as stupid as its product, however. By splitting the anticipated $100 million in start-up costs over the first two years with NBC, McMahon isn't risking nearly as much as the USFL did. By owning all the teams and offering all the players the same $45,000 one-year contract with a one-year option (quarterbacks get $50,000; kickers, $35,000), he can control his costs; the entire XFL payroll is less than half that of a single NFL team. And the league needs only to deliver a mediocre 4.5 Nielsen rating to make...