Steve Jobs the Patron Saint of Perfectionists

steve-jobs

The most amazing thing about Steve Jobs and the revival of Apple he engineered over the last 15 years is so improbable it is. Most of the digital innovations that have transformed our lives have been logical outgrowth of increasing power and decreasing cost of semiconductors. Someone was going to invent personal computers, cell phones, the Internet, even search engines.

But there was nothing the slightest bit inevitable about a company whose digital products are perceived as so distinctive they attract dominant market shares despite premium prices. As recently as 2002, personal computers were seen as such a commodity business—dominated by high volume and low costs—that Hewlett Packard paid $25 billion to buy Compaq and vault past Dell to be the No. 1 in the market. Last week, HP, still the leader, said it is considering abandoning PCs altogether, at least partially a concession that Apple was taking an increasing share of the market and most of the profits.

I haven’t been a Mac user since I sold my first generation model—with 128K of memory and one floppy drive. But I recently walked into an Apple store and fondled the latest MacBook Air. I was blown away by how the use of multi-touch gestures and a few other innovations transformed the experience of this very mature category of products. Again.

The succession of new products from the iPod to the iPhone to the iPad has become the business lore of our age. A keynote by Steve Jobs is anticipated, at least by many, more eagerly than the State of the Union address. Even aspects of the computer business that most rivals see as—product sourcing, manufacturing process, and even retail store operations—have become areas of disruptive innovation at Apple.

Jobs created a growing snowball of innovation, hype, customer loyalty, and scale that could be seen with astounding force in the iPad. Here was a product category that was entirely new (except for some regrettable Microsoft missteps). But instantly it was a hit—not just among gadget geeks—but with tens of millions of people who saw something that immediately appeared useful and alluring. They trusted that Apple could deliver something that would just work without the glitches and disappointments that dependably accompany the first generation of products from lesser companies.

Behind this success was not an engineer, like the troika that until recently led Google, nor a professional manager, like the succession of leaders at HP, nor even an entrepreneur like Michael Dell.  Steve Jobs was an impresario, in the tradition, more than anything, of a classic Hollywood studio boss (which he also was in his spare time). It’s fitting that Jobs is now the largest individual shareholder of the company founded by one of the 20th Century’s all time great perfectionists: Walt Disney.

This approach didn’t make apple a pleasant company to deal with or to work at. Everyone at Apple worked with the anxiety that they must meet the impossible demands of Jobs or endure his anger. To the public and even to Apple’s biggest partners the company was about as responsive as Willy Wonka’s Chocolate Factory; no one ever went in and no one ever came out. And yes to work at Apple was to accept the lot of an Oompa Loompa. The company took secrecy to such an extreme that employees were divided into small groups and ordered not to talk to each other, let alone anyone outside of the company.

My one encounter with Jobs was true to form. In 2004, I had just started covering consumer electronics, and I was writing about the battle between iTunes and Microsoft’s initiative at the time “Plays for Sure,” an effort to create an open standard for music formats. This was before Apple’s reputation—and the arrogance it enabled– blew past all previous records. Still, when I asked Jobs at the end of a press conference to discuss Apple’s strategy in the music market, he blew me off saying “We don’t like to talk about that.”

We all know lots of people who are nice. We know many people who are smart. We’ve seen a bunch of corporate leaders who have the rare combination of skills to surf the waves spawned by Moore’s Law. But it’s hard to think of anyone besides Steve Jobs who through the sheer force of will, self-confidence, vision and perfectionism could upend the powerful forces of technology to make so many products that delighted so many people precisely because they were improbable.



Company:
APPLE
Launch Date:
1/4/1976
IPO:

1980, NASDAQ:AAPL

Started by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple has expanded from computers to consumer electronics over the last 30 years, officially changing their name from Apple Computer,…

Learn more


Person:
STEVE JOBS
Website:
Companies

<a href="http://www.crunchbase.com/company/apple" onclick="Apple, <a href="http://www.crunchbase.com/company/pixar" onclick="Pixar, <a href="http://www.crunchbase.com/company/next" onclick="NeXT

Steve Jobs is the co-founder and CEO of Apple and formerly Pixar.

“Innovation distinguishes between a leader and a follower.” -Steve Jobs

Steve Jobs regularly makes most rosters of the rich…

Learn more


EscapeCapsule Lets You Use Your iPhone 4 In Water, Sand, Mud, Snow, And Other Gross Stuff

escapecapsule

There really should be no argument when I say that a case for your iPhone 4 is nothing short of necessary. Unless you’ve got cash to burn, the iPhone is just too damn expensive to leave unprotected. The only problem is that most of them make your phone pretty clunky, which sucks since Apple works hard to make the iPhone as slim as possible. Unfortunately, the only trade-off for all the heft is protection against impact. But what if you drop your iPhone in the toilet?

The folks at Catalyst have an answer for you: EscapeCapsule.

This thing is more than just a tough exo-skeleton. Made from a high-impact clear polycarbonate, the case protects against water, rain, snow, sand, mud, impacts, scratches… everything. Did I mention water? You can also double-check whether or not the case is securely sealed around the phone through the clear shell.

Catalyst says the phone’s hardware buttons are protected through a specially designed membrane, as is the touchscreen. The camera works surprisingly well with the cover on, proof of which can be found in the video on the project’s Kickstarter page. The case also comes with an attached lanyard to go around your wrist while you’re playing in the ocean with your iPhone. Because with the EscapeCapsule, you can play in the ocean with your iPhone. Crazy.

The case comes in a number of colors, but if you make a pledge on Kickstarter you’ll get Catalyst’s Kickstarter-only edition Capsule — a green case with a white glow-in-the-dark rubber bumper and a glow-in-the-dark lanyard. It’ll take a $50 pledge to pre-order your very own EscapeCapsule, which is an OK deal considering Catalyst plans to sell the case for $70 when it officially becomes a reality.

As of right now, Catalyst has 28 days to reach its $30,000 funding goal. It has thus far received $3,780. Head on over to Kickstarter to check out a video of the EscapeCapsule in action.



Steve Jobs: The End Of An Era

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We all know the broad strokes: a boy is born to a graduate student and her Syrian boyfriend. She places the boy for adoption. He comes to live with Paul and Clara. Paul is a machinist who moved to San Francisco after WWII. He grows up in Santa Clara county. It’s flat, lots of one story buildings, mostly middle/upper middle class, outside of the bad parts. Parts of it are pretty, parts aren’t. He wasn’t coddled. His biological mother makes his adoptive parents promise to send him to college. In fourth grade he has a great teacher and, presumably, another and another.

His parents scrape to send him to Reed. He drops out of college and starts dropping in on classes that interest him. He makes money returning bottles and he hits the Hare Krishna temple now and then for a free meal. He takes calligraphy, eschews the typical coursework, and at age 20 he and a buddy start a company.

He’s a buddhist with a temper. He cuts down rivals and builds up a team of 4,000 dedicated to his singular vision. He’s ousted, builds another company or two, and comes back. He’s kind of a hippie, enjoying Bob Dylan and the Beatles. He loves music.

He’s leaving, now, the victim of something gnawing at his health like sea spray whittles a wooden pier.

Where does that leave Apple? And where does that leave us?

I wasn’t always a Mac lover. I thought they were over-priced and pretty, the candy colors far too silly for my 486 tastes. Any chip that had the word Power in its name was overcompensating, I wagered.

But over the past decade I learned the satisfaction of a machine that just works. It’s a machine that the boy put most of his life into, a machine that has the heart of a much older thing, a thing that lay blinking and frantic in a Stanford computer lab somewhere and then, over time, shrank down to something you and I can fit into our pockets.

Many complained that the ecosystem that he created was a walled garden, but I’d equate it to a pasture. “The reason everything looks beautiful is because it is out of balance,” wrote Zen master Shunryu Suzuki. “But its background is always in perfect harmony.” In the front, anything can happen. In the back, perfect calm and order.

There is a strain of Internet thought that requires us to tear down, to refuse to see the other side. There will be plenty of that going on in the next few days as talking heads talk. But name one CEO who, on leaving his company, will raise such a wave of well-wishes and interest? When Michael Dell dodders off or Howard Stringer plops into a club chair for his final cigar, will anyone care the next day?

We all know the broad strokes: The man got sicker, he almost quit, kept at it. He embraced a successor and groomed him to be as calm a force as he once was. He kept us surprised, entertained, constantly speculating. We wondered where he was. If he was well.

We all know the broad strokes: He isn’t well. He’s stepped down. Another Buddhist (or near enough to one) said “The mark of the immature man is that he wants to die nobly for a cause, while the mark of a mature man is that he wants to live humbly for one.”

Godspeed, Mr. Jobs. We’ll miss you on stage.



Apple’s COO Tim Cook Replaces Steve Jobs As CEO

tim-cook

Apple’s Steve Jobs has resigned from his position as CEO and Apple has just announced that COO Tim Cook has taken over as CEO.

As COO, Cook was responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and plays a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

Before joining Apple, Cook was vice president of Corporate Materials for Compaq and was responsible for procuring and managing all of Compaq’s product inventory. Previous to his work at Compaq, Cook was the chief operating officer of the Reseller Division at Intelligent Electronics. Cook also spent 12 years with IBM, most recently as director of North American Fulfillment where he led manufacturing and distribution functions for IBM’s Personal Computer Company in North and Latin America.

Jobs will be Chairman of the Board of Apple and Cook will take a position on the board as CEO. Jobs actually submitted his resignation to the Board today and ‘strongly recommended’ that the Board name Tim Cook as CEO.

In January, Jobs took an indefinite medical leave of absence from the company, and while he remained as CEO, Cook took on the day-to-day operations for Apple.

Jobs’ previous medical history includes Pancreatic cancer as well as a liver transplant. In 2004, Jobs contracted Pancreatic Cancer, which he beat. Then Jobs underwent a liver transplant in 2009, and also made a full recovery. During Jobs’ absence in 2009, then COO Tim Cook took over Apple’s day-to-day activities.

Check out my colleague MG Siegler’s analysis from January: A Few Thoughts On Apple’s 2011, Stock, Tim Cook, And The Future

The full release is below:

Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple’s Board. “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”

“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.”

Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.

As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.



Steve Jobs Resigns As CEO Of Apple

steve-jobs1

Title says it all. More to come. For now, the letter from Steve Jobs himself:

To the Apple Board of Directors and the Apple Community:

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

Steve

Update: Apple has confirmed that Apple COO Tim Cook will replace Jobs as CEO, following Jobs’ own recommendation. Considering that Cook has filled in for Jobs in the times of his medical leaves (including the one he has been on this year), this has been widely expected if and when it came time for Jobs to step down.

Also as requested, Jobs has been elected as Chairman of the Board and will remain with the company in that capacity. Cook will join the Board as well.



Company:
APPLE
Launch Date:
1/4/1976
IPO:

1980, NASDAQ:AAPL

Started by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple has expanded from computers to consumer electronics over the last 30 years, officially changing their name from Apple Computer,…

Learn more


Person:
STEVE JOBS
Website:
Companies

<a href="http://www.crunchbase.com/company/apple" onclick="Apple, <a href="http://www.crunchbase.com/company/pixar" onclick="Pixar, <a href="http://www.crunchbase.com/company/next" onclick="NeXT

Steve Jobs is the co-founder and CEO of Apple and formerly Pixar.

“Innovation distinguishes between a leader and a follower.” -Steve Jobs

Steve Jobs regularly makes most rosters of the rich…

Learn more


Blue For Facebook Sure Looks Like Color’s Next Hue

Screen Shot 2011-08-24 at 2.57.34 PM

Sometimes the need to test outweighs the need for total secrecy. I’m going to assume Color CEO Bill Nguyen shares that belief. The past two days his Facebook stream has been filled with some seemingly bland pictures. But they’re not bland — they’re test pictures. And they’re sent from a new app called “Blue”.

I don’t know much about the app itself, but I was able to dig up a little bit of information — including the logo above. Judging from the name alone, I think it would be pretty safe to assume that this is at least one of the new projects the Color Labs team is working on after Color itself fizzled out.

And there’s a bit more hinting at this being Color’s next project — namely that many of the developers listed on the Blue app Facebook page work at Color (and a number work at Apple as well, where Nguyen worked prior to Color Labs). The app currently has 29 monthly active users listed.

A bit more: it appears that they settled on the “Blue” name recently after using the codename “TestJckJck” (seriously) for several weeks. You can find that Facebook app here, again with several Color/Apple people as developers.

Nguyen has been testing TestJckJck on his own profile for some time now. Blue certainly has a better ring to it.

My guess right now is that Blue is a new mobile app with deep ties into Facebook Photos. That’s interesting since Facebook may be working on their own stand-alone app in that regard. Earlier today, Nick Bilton reported that Facebook was readying a range of photo filters to use in a mobile app. This may all be related somehow.

One more thing: the URL for Blue for Facebook contains “bluecolor”.

Update: We’ve since confirmed with multiple sources that Blue will indeed be Color’s next app.



Company:
COLOR LABS
Launch Date:
2010
Funding:
$41M

Color is a social app for photos. You take photos and then the photos appear on the fly with other photos in your vicinity. You get to see the…

Learn more


Mobile Payments Company Boku Expands Direct Carrier Billing Deals In France

boku

Today, mobile payments company Boku is launching direct carrier billing agreements with two of the largest mobile carriers in France— Bouygues Telecom and SFR, offering over 32 million French customers the ability to pay for virtual goods and services using only their existing wireless service account.

Historically, mobile payments companies face the challenge of lofty carrier rates. Wireless carriers have charged roughly 30% to 40% to process transactions made via mobile phone accounts, making it very difficult for mobile payment companies like Boku to scale beyond virtual goods. These transactions costs are passed down to developers using Boku, which are then passed to the consumer. To avoid these costs, Boku has been negotiating direct relationships with carriers as a way of possibly avoiding these costs. While the company declined to reveal the financial terms of the agreements, Boku says the France rates are similar to those negotiated in the U.S. and Germany.

These deals give Boku nearly 100% coverage of the French mobile market, which is nearly 50 million mobile subscribers total. Bouygues Telecom and SFR are actually launching a new service, called Internet + Mobile, allowing consumers to purchase goods online and use Boku to pay with their mobile phone number. Boku says the purchase process only requires two-clicks and gives online merchants access to a full range of price points of up to 10 Euros.

Direct carrier relationships only serve to reinforce the strength of and demand for mobile payments for companies like Boku and competitor Zong. And Zong was actually acquired by eBay earlier this year, for $240 million. Companies have also been eyeing Boku and the company has reportedly become a possible acquisition target for both Google and Apple.



Social Enterprise Company Jive Files For $100M IPO; 2010 Revenue Was $46M

jive-software

Social enterprise giant Jive has just filed its S-1, and will raise as much as $100 million in the offering.

Modeled to offer Facebook-like features to enterprises, Jive’s software combines computing with social collaboration to offer fully-featured social networks for businesses. Its suite of applications help businesses collaborate on a variety of tasks, including holding discussions, communication, sharing documents, blogging, running polls, and social networking features and more.

Some of the key information in the filing relates to revenue. For the years ended December 31, 2008, 2009 and 2010, and for the six months ended June 30, 2011, Jive’s total revenues were $16.9 million, $30.0 million, $46.3 million and $34.0 million, respectively.

The company actually took a loss in 2008, 2009, 2010 and the six month period ending in June 2011. Losses appeared to actually increase—the company lost $27.6 million in 2010, and $30.6 million this year. The company says that it is continuing to invest revenue back into infrastructure, development of and sales and marketing, and expects operating expenses to increase significantly.

Jive also says that it is in the process of transitioning its customer data centers from a third-party service provider to a co-located facility managed by Jive’s own network operations team, which will require significant capital.

As of June 30, 2011, Jive has 635 enterprise customers, including Hewlett-Packard Company, SAP AG, T-Mobile and UBS AG, with over 15 million users. The company currently had 358 employees as of June 30, 2011.

Jive says that it plans to use the proceeds of the offering to pay down outstanding loans ($20 million) and towards general corporate purposes, including working capital and potential acquisitions.

In terms of investment, Jive has raised a total of $57 million, and the company’s largest investor Sequoia Capital owns over a third of Jive (36 percent). Kleiner Perkins owns 14.24 percent of Jive.



Facebook Turns To Stack Overflow To Power Developer Forums

login1

If you’ve ever roved around Facebook’s developer forums, you may have noticed that — aside from being loaded with complaints and bug reports — they’re pretty basic. There’s nothing wrong with them per se, but they feel like a pretty generic forum install, and not a hub for developers on one of the web’s most popular web platforms.

Today, Facebook is announcing how it’s going to fix the situation: it’s abandoning its old forums, which it says are “showing their age”, and launching a custom site on Stack Overflow, the Q&A hub that’s very popular with programmers (and is loaded with helpful content). You can find the new site at facebook.stackoverflow.com.

The benefits from the swap are obvious. Stack Overflow has a robust reputation system, a more structured Q&A platform, and is generally easier to sift through.

Stack Exchange is the parent company of Stack Overflow, which is one of a network of 60+ Q&A portals. In a post discussing the news, Stack Exchange Chief of Staff Alex Miller writes that this the Facebook launch also marks the introduction of a new feature for the platform, which allows for the creation of custom mini-sites.

But facebook.SO isn’t just a sub-domain, it’s an entirely new feature set that we’ve been considering and working on for months. Ever since launching, we’ve gotten requests to start dedicated communities for niche programming topics, but we’ve always been hesitant to do so for fear of balkanizing the great community we already have. So we came up with a solution that provides the best of both worlds. We can now create a mini-site by selecting relevant tags (in this case, anything Facebook related) and grouping together just the content from those tags. When you visit a mini-site, you’ll see only the content from those tags. Not only will you be able to see only questions related to Facebook, but the reputation on the user ranking pages will also only show reputation earned on questions tagged Facebook.



Company:
FACEBOOK
Launch Date:
1/2/2004
Funding:
$2.34B

Facebook is the world’s largest social network, with over 500 million users.

Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It…

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Company:
STACK EXCHANGE
Launch Date:
7/2008
Funding:
$18M

Stack Exchange is a network of free, community-driven Q&A sites.

StackExchange was created by the founders of StackOverflow.

Stackoverflow is a community knowledge exchange for programmers.

Learn more


Screw You, GameStop.

mario

We’re through, GameStop.

I turned a blind eye when you offered me peanuts for a game that you were still slinging used for bucks shy of full retail. I shrugged it off when your employees endlessly pressured me to pre-order games that I didn’t want every time I set foot in the store. I laughed when I was turned away for trying to buy a new release on launch day sans preorder, only to have a copy miraculously appear as I went to leave. These were all prices I was willing to pay, I figured, to support one of the last remaining brick and mortar game stores.

But breaking the seal on brand new copies of games to take out (valuable!) things you don’t like, then selling the game as new? Yeah, I quit you.

Here’s the deal:

Yesterday morning, a long awaited title called Deus Ex: Human Revolution was finally released to an eager audience. Tucked inside the box was a little surprise: a coupon for a free copy of the same game through the still relatively new game streaming service, OnLive — something which, if purchased directly through OnLive, would cost $49.99. At least, there was supposed to be a coupon…

The reports started trickling in fairly quickly: for some reason, the coupon seemed to be absent from nearly all copies sold through GameStop.

What had happened? Had the folks at the factory forgotten to pack some of the coupons? Nope. Had GameStop worked out a distribution deal to keep the coupons from ever finding their way into their copies? Nope.

GameStop employees had opened the boxes, removed the coupon, and put the product back on the shelf… after orders from above to do so.

The first evidence came from an e-mail acquired by GameSpy, allegedly sent by a GameStop Field Operations Manager. The key bit is bullet point #1:

“Please immediately remove and discard the OnLive coupon from all Regular PC versions of Deus Ex: Human Revolution,” it read. Surely, this couldn’t be real! A corporate command to open a sealed product, throw out something tradable for a $50 product, and act like nothing happened?

But sure enough, GameStop followed up with confirmation on Facebook after word got out:

Regarding the Deus Ex OnLive Codes: GameStop’s policy is that we do not promote competitive services without a formal partnership.
Square Enix packed a competitor’s coupon within the PC version of Deus Ex: Human Revolution without our prior knowledge and we did pull these coupons.
While the new products may be opened, we fully guarantee the condition of the discs to be new. If you find this to not be the case, please contact the store where the game was purchased and they will further assist.

Note the wording. “May be” opened? Try “are” opened. And what a guarantee! If your disc doesn’t work for some reason, they’ll give you a new ( presumably equally stripped down) copy. But if you’re just pissed that you’ve been shorted a coupon worth $50? La la la la, we can’t hear you.

The GameStop-owned service with which OnLive is a “competing service” is called Impulse, which GameStop launched back in July after acquiring Spawn Labs.

Look, GameStop: if you want to work out a deal with the distributor to get special copies without the coupons, that’s reasonable. People will still be annoyed they got shortchanged, but it’s at least not incredibly shady. But opening a sealed box, removing a coupon exchangeable for a $50 product, and then sticking it back on the shelf? Terrible. Could a customer have walked in, purchased the game, removed the coupon, and returned the box for a full refund? No? Then this is not okay.

Alas, they went with the shady route — and now they’ve gone and given OnLive far more marketing than that silly coupon ever would have.



Company:
GAMESTOP
Launch Date:
12/11/2004

Gamestop is an American video game retailer with over 6,000 locations worldwide. The company spun off from Barnes & Noble in 2004 and operates as GameStop and EB Games.

Learn more


Zillow’s Q2: Revenues Up 116 Percent To A Record $15.8M, Hits Profitability

zillow-picture-1

Real estate listings site Zillow reported its first earnings as a public company today, after debuting on the NASDAQ in mid-July. Zillow revealed record revenues of $15.8 million in the second quarter, up 116% year-over-year. Net Income for the quarter came in at $1.6 million, compared to a net loss of $2 million in the same period a year ago and a net loss of $0.8 in the first quarter of 2011. This quarter marked the company’s first quarter of GAAP profitability

Zillow saw record Marketplace Revenues of $9.7 million, up 269% year-over-year. Premier Agent subscribers, which contribute to Marketplace revenues, totaled 13,385 at June 30, 2011, up 180% from 4,777 at the end of the second quarter of 2010. Display revenues increased 30% to $6.1 million from $4.7 million in the second quarter of 2010.

The company’s Average monthly unique users grew 93% to a record 20.8 million in the second quarter of 2011 compared to 10.8 million average monthly unique users for the same period in 2010. And July 2011 marked another record traffic month with 23.2 million unique users to Zillow’s websites and mobile applications, a 98% increase from July 2010.

Zillow CEO Spencer Rascoff said of the company’s first earnings as a public company: “The second quarter was outstanding for Zillow with record revenues, traffic and mobile usage. It marks our first profitable quarter on a GAAP net income basis and our fourth consecutive profitable quarter on an Adjusted EBITDA basis..We’re extremely pleased with our progress and rapid growth, yet we believe we’ve only scratched the surface of our opportunity.”

Profitability for the company is a big deal considering that while revenues were growing for Zillow, the company had been taking a loss each quarter for the past three years.

Zillow, which initially filed its S-1 in April, currently lists over 100 million U.S. homes, including homes for sale, homes for rent and homes not currently on the market. Zillow launched a mortgage marketplace in 2008, and subsequently expanded into rentals and mobile. According to Experian Hitwise, Zillow.com is the third most visited Real Estate site in the U.S and received 5.36% of Real Estate visits in March 2011, which is a 53% increase compared to March 2010.



Company:
ZILLOW
Launch Date:
1/2005
IPO:

19/7/2011, NASDAQ:Z

Zillow, Inc. founded and operates Zillow.com – a leading online real estate marketplace dedicated to helping homeowners, buyers, sellers, renters, real estate agents, mortgage professionals, landlords, and property managers…

Learn more


Acer Lost Almost $250 Million Last Quarter Alone, Remains Stoic

Ned-Stark-Game-of-Thrones

Acer, recently the world’s second-largest shipper of PCs, has had a rough year. But in March a deliberate decision was made by upper management to abandon their goal of dethroning HP and instead focus on making better, more distinguishable products. The result: sales and revenue in freefall. At least they knew it was coming — but losing millions of customers and a huge proportion of your worth isn’t something any company likes having to do.

The company is taking heavy losses — twice as heavy, in fact, as Reuters’ analysts estimated. 6.79 billion Taiwanese dollars (Around $250 million) went down the drain in Q2. That’s their biggest loss ever and the first time they did worse than they forecast. The results indicate that, as Acer’s chairman J.T. Wang admits, “trying to break even this year becomes impossible.” But I doubt they were planning on turning the whole company around in less than a year.

Despite the losses and job cuts, Acer remains stoic. They feel the tablet “fever” is lessening and people will return to notebooks (I’m not sure I agree). And while it’s unlikely that they have any interest in (or ability to) buy HP’s PC business, Acer’s president Jim Wang did comment that spinning it off was a natural thing for HP to do. He added, cryptically, that Acer would be working to satisfy its customers’ needs, “including HP’s existing customers.” What a thing to say! Again, though, with billions in losses every quarter, the last thing Acer needs is a $10 billion millstone around its neck from HP.

What he probably meant was that Acer may be stepping into HP’s shoes during the confusion. If they can stabilize fast enough, then while HP’s Personal Systems Group is in handoff mode, Acer can sweep in and carry off a few million customers. But before that happens, expect more bad news.

(Updated to reflect the fact that the 6.79 billion figure was in Taiwanese dollars. Very dumb of me not to catch that when a $7bn loss would likely bury the company)



Disrupt SF Hackathon Registration Open! Plus Last Day for Early Bird Tickets

Wise Dame

Registration is officially open for our fourth Hackathon, and we’d love to make it our biggest yet! We promise more pizza, more caffeine and more glory than ever. We had 700 registrants for the last event in New York — let’s top it! The format remains the same – a little less than 24 hours to create a hack on site and present a working demo to an audience of developers, press and industry insiders. Sign up now!

Celebrating Developers

GroupMe has proven that you can build a Weekend-hacked, Seed-funded, Series-A-ed, Acquired-by-Skype, all-in-about-a-year startup from a TC Hackathon. (Props to Jared and Steve for their monstrous hustle). But the goal of these increasingly awesome events isn’t just to build startups–we want to give developers a platform to shine. For every GroupMe there’s a Mr Stabbyphone; for every Wisedame there’s a Drunkerator; for every Docracy a Venture Crapital. It’s that mixture of utility and whimsy that keeps the Hackathons, and our industry for that matter, fresh. Much of the field is built behind the scenes by the hard work of talented developers and Hackathons are a the best way we’ve found to spotlight them.

The first Hackathons were organized by Daniel Raffel, Chad Dickerson and myself and we’ve had a blast doing it. This time around Jeff Bennett will be taking the helm. He’s a seasoned hand, having organized Hackdays past for Yahoo and even winning one or two along the way! It’s going to be a great event. While we aim to accommodate everyone, it’s best to register now to make sure you’re in!

Last Day for Early Bird Tickets!

For those of you that aren’t hackers, today is the LAST DAY to get the best priced tickets for Disrupt SF. Check out the list of all-star guests and speakers here, and the agenda here. Disrupt SF will have amazing after parties, and even better battles as startups fight for the ultimate Disrupt Cup and $50,000. You do not want to miss this. Get your early bird tickets now HERE.