Internet startups

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Jawbone Is Latest 'Death by Overfunding'

Too much venture capital may have been responsible for company's demise

(Newser) - With $41 billion pumped into startups by venture capitalists last year alone, some experts argue that big-money failures are "inevitable." But Jawbone's recent collapse is so monumental that only the Solyndra bankruptcy of 2011 tops it, reports Reuters . And some argue that all the money pumped into... More »

Ex-Employee Recounts Her Silicon Valley 'Nightmare'

Startup WrkRiot has gone offline amid the controversy

(Newser) - Just a month after starting at a Silicon Valley startup, a marketing professional from Dallas has taken to Medium to accuse her already former employer of fraud and more—and the startup is suddenly scrubbing its online presence clean. Penny Kim detailed her life since a July 2016 job offer—... More »

The Party Is Over at Zenefits

'Institutionalized cheating' finally caught up to software firm

(Newser) - Just two years ago, Zenefits was heralded as one of the fastest-growing software startups ever. Earlier this month, "institutionalized cheating" finally caught up to the San Francisco-based firm that has raised more than $500 million at a $4.5 billion valuation, and hard-partying co-founder and CEO Parker Conrad, 35,... More »

Guy Creates App Called 'Magic,' and Things Get Nuts

Within 3 days, 18K requests had come in

(Newser) - Up until last week, Mike Chen was working on a blood pressure tracking app called Bettir. Then, four days ago, he took 20 minutes to put together a side project he'd been thinking about called Magic , and to say it's overshadowed Bettir would be an understatement. The idea:... More »

Why It Sucks to Work at a Tech Startup

Anonymous employees talk to Lily Hay Newman

(Newser) - Turns out working for a tech startup isn't all hanging out with your cool friends and being handed wads of venture capital cash while enjoying all the perks of your awesome office. Lily Hay Newman spoke to anonymous startup workers and presents a list of what she found to... More »

Billionaire Facebook Co-Founder Shuns Luxury

Dustin Moskovitz has a new startup

(Newser) - Facebook co-founder and former Mark Zuckerberg roommate Dustin Moskovitz is by many accounts the world's youngest self-made billionaire. But the 27-year-old isn't sipping champagne in the Caribbean. Instead he's thrown himself back into San Francisco's startup mix, even as Facebook's looming IPO seems likely to... More »

8 Celebs Betting Big on Startups

Music, social media, augmented reality, and more get major attention

(Newser) - More than just Oscars and Grammys, becoming a big star today requires mastering the world of online and social media. So it's no surprise that many of today's brightest glitterati are also eager to become leading digerati, investing in a wide range of startup tech companies. Mashable presents... More »

Smartphone App Knows You're Sick Before You Do

DailyData app detects changes that should tell you something's wrong

(Newser) - Your smartphone might have a better grasp on how you're feeling than you do. A new startup has unveiled an Android app that uses your phone's activity to detect the onset of the common cold, the flu, and depression, reports Mashable . DailyData , developed by a group of MIT... More »

Hipster Start-Up Offers New Hires a Year's Supply of Beer

Along with skinny jeans and $10K bonus

(Newser) - A tech start-up in San Francisco is offering perks to new hires consistent with its name: Hipster . Successful applicants will get $10,000, a year's supply of Pabst Blue Ribbon, skinny jeans, Buddy Holly glasses, brown boots, etc. It's a sign of the ultra-fierce competition for engineers among... More »

7 Startup Ideas That've Been Beaten to Death

Sick of Groupon knockoffs yet?

(Newser) - Sure, maybe the little kid down the block just happened to think of setting up a, um, limeade stand right after you started hawking lemonade, but in the real-life world of startups the consequences are somewhat more serious—and annoying. Business Insider runs down the seven moldiest startup trends out... More »

Groupon: We Owe Our Success to Good Writing

Daily deals site differentiates itself through the 'Groupon Voice'

(Newser) - Pop Quiz: What’s the best way to describe a 4,700-pound chandelier? If you want to work at Groupon, your answer should be “More brilliant than a studious Christmas tree.” That’s an actual question the booming Internet company asks its prospective employees, reports the New York ... More »

Another Tech Bubble Might Be Getting Ready to Pop

Venture capitalists are pouring money into social networking startups

(Newser) - The New York Times makes the rounds of venture capitalists and entrepreneurs and hears worry that another dangerous bubble is forming with tech startups. Because relatively young companies such as Groupon, Twitter, and Zynga have billion-dollar values, nobody wants to miss out on the next big thing—hence the flood... More »

Groupon to Google: Keep Your $6B

Startup turns down rumored purchase offer

(Newser) - Valued at a mere $1.3 billion in April, Groupon last night walked away from Google and its rumored purchase offer of between $5 billion and $6 billion, opting instead to remain independent, sources tell the Chicago Tribune. Neither Groupon nor Google would comment, but insiders say that the 2-year-old... More »

Facebook Elite Drift Toward New Startups

And most leave rich, thanks to liquid shares

(Newser) - Though Facebook is only six years old, some early employees are leaving to start their own businesses. Co-founder Dustin Moskovitz created collaboration software Asana, co-founder Chris Hughes started social networking site Jumo; among other employees, there are a question and answer site, a social gaming company, and more—at least... More »

One Non-Profit Should Index the Internet

It would make things faster for everyone

(Newser) - The Internet would be faster for everyone if a single, non-profit entity maintained a search index, writes Tom Foremski. Privately owned search engines use enormous resources to build their proprietary indexes, and sites use tons of bandwidth to answer their queries. On Foremski's Silicon Valley Watcher , for example, search robots/spiders... More »

Fickle User Base May Doom Facebook

Users with no brand loyalty are a shaky foundation to build a long-lasting business on

(Newser) - These are rosy times for Facebook, but there's no guarantee the social networking juggernaut will even be around 5 years from now, Gary Andrew Poole writes for True/Slant.  The newly profitable site is riding high, with 300 million users. But as fallen giants like AOL and veterans of the... More »

Twitter Hits $1B Valuation

Company will raise $50 million this round

(Newser) - Twitter soared to $1 billion in valuation in its most recent round of venture capital funding, TechCrunch reports—up from $250 million in a round earlier this year. CEO Evan Williams shared the results with Twitter employees during a recent meeting. Sources say the company will raise about $50 million;... More »

Tech Employees Want to Cash in Early

(Newser) - Facebook’s recent deal to let employees sell some of their stock to private investors has sent Silicon Valley scrambling, as workers at other start-ups ask for similar deals, the Wall Street Journal reports. Start-ups rely on the promise of future stock sales to lure and retain talent, but with... More »

Facebook Buys Rival FriendFeed for $50M

Purchase sets up battle with Twitter for real-time search market

(Newser) - Facebook is buying fellow social networking site FriendFeed for nearly $50 million, the Wall Street Journal reports. Friendfeed, a 12-employee outfit founded by former Google engineers, allowed users to share information across multiple social media services but never took off beyond a core techie user base. The purchase may help... More »

Chinese Web Surfers Embrace Facebook Clone

'You have to respect the local user' says Berkeley-educated Facekoo founder

(Newser) - Since its March introduction, Facekoo has drawn 350,000 users and is one of the fastest-expanding social-networking sites in China, the San Francisco Chronicle reports. And, says its Hong Kong-born, Berkeley-educated founder, that’s because it fills a void left by Western sites whose mere translations to Chinese miss all... More »

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