Venture capital is a type of private equity, a form of financing, provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential, or which have demonstrated high growth. Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake, in the companies they invest in. Venture capitalists take on the risk of financing risky start-ups in the hopes that some of the firms they support will become successful; because startups face high uncertainty, VC investments do have high rates of failure. The start-ups are based on an innovative technology or business model and they are from the high technology industries, such as information technology, clean technology or biotechnology; the typical venture capital investment occurs. The first round of institutional venture capital to fund growth is called the Series A round. Venture capitalists provide this financing in the interest of generating a return through an eventual "exit" event, such as the company selling shares to the public for the first time in an initial public offering or doing a merger and acquisition of the company.
In addition to Angel investing, equity crowdfunding and other seed funding options, venture capital is attractive for new companies with limited operating history that are too small to raise capital in the public markets and have not reached the point where they are able to secure a bank loan or complete a debt offering. In exchange for the high risk that venture capitalists assume by investing in smaller and early-stage companies, venture capitalists get significant control over company decisions, in addition to a significant portion of the companies' ownership. Start-ups like Uber, Flipkart, Xiaomi & Didi Chuxing are valued startups known as unicorns, where venture capitalists contribute more than financing to these early-stage firms. Venture capital is a way in which the private and public sectors can construct an institution that systematically creates business networks for the new firms and industries, so that they can progress and develop; this institution helps identify promising new firms and provide them with finance, technical expertise, marketing "know-how", business models.
Once integrated into the business network, these firms are more to succeed, as they become "nodes" in the search networks for designing and building products in their domain. However, venture capitalists' decisions are biased, exhibiting for instance overconfidence and illusion of control, much like entrepreneurial decisions in general. A startup may be defined as a project prospective converted into a process with an adequate assumed risk and investment. With few exceptions, private equity in the first half of the 20th century was the domain of wealthy individuals and families; the Wallenbergs, Whitneys and Warburgs were notable investors in private companies in the first half of the century. In 1938, Laurance S. Rockefeller helped finance the creation of both Eastern Air Lines and Douglas Aircraft, the Rockefeller family had vast holdings in a variety of companies. Eric M. Warburg founded E. M. Warburg & Co. in 1938, which would become Warburg Pincus, with investments in both leveraged buyouts and venture capital.
The Wallenberg family started Investor AB in 1916 in Sweden and were early investors in several Swedish companies such as ABB, Atlas Copco, etc. in the first half of the 20th century. Before World War II, money orders remained the domain of wealthy individuals and families. Only after 1945 did "true" private equity investments begin to emerge, notably with the founding of the first two venture capital firms in 1946: American Research and Development Corporation and J. H. Whitney & Company. Georges Doriot, the "father of venture capitalism", founded the graduate business school INSEAD in 1957. Along with Ralph Flanders and Karl Compton, Doriot founded ARDC in 1946 to encourage private-sector investment in businesses run by soldiers returning from World War II. ARDC became the first institutional private-equity investment firm to raise capital from sources other than wealthy families, although it had several notable investment successes as well. ARDC is credited with the first trick when its 1957 investment of $70,000 in Digital Equipment Corporation would be valued at over $355 million after the company's initial public offering in 1968.
Former employees of ARDC went on to establish several prominent venture-capital firms including Greylock Partners and Morgan, Holland Ventures, the predecessor of Flagship Ventures. ARDC continued investing until 1971. In 1972 Doriot merged ARDC with Textron after having invested in over 150 companies. John Hay Whitney and his partner Benno Schmidt founded J. H. Whitney & Company in 1946. Whitney had been investing since the 1930s, founding Pioneer Pictures in 1933 and acquiring a 15% interest in Technicolor Corporation with his cousin Cornelius Vanderbilt Whitney. Florida Foods Corporation proved Whitney's most famous investment; the company developed an innovativ
Twine was an online, social web service for information storage and discovery, located at twine.com, that existed from 2007 to 2010. It was run by Radar Networks; the service was announced on October 19, 2007 and made open to the public on October 21, 2008. On March 11, 2010, Radar Networks was acquired by Evri Inc. along with Twine.com. On May 14, 2010, twine.com was shut down. Twine combined features of forums, online databases and newsgroups and employed intelligent software to automatically mine and store data relationships expressed using RDF statements. Twine serviced information storage and discovery through its website and browser-based tools; the service, intended for regular web users, attempted to automate certain processes related to data categorization and keyword-association. The system employed natural language processing and machine learning to extract concepts from written text in user data, expressed it using RDF triples tied to a semantic taxonomy based on concepts mined from Wikipedia.
This makes it easier for machines to process the data. The extracted data could be used in searches to additionally select the type of thing the user wanted to find, such as person or location. Twine was a social network and its users could add contacts, send private messages and share information. Users could collaborate on collecting data through public twines. Data could be imported to Twine's website through conventional uploading of files, writing text with a WYSIWYG editor or using a bookmarking tool for webpages; the tool worked to other social bookmarking websites. Users could manually write summaries, specify keywords and select an image to include in the bookmark that appears on Twine's website. Certain types of media in bookmarks, such as YouTube videos, were automatically embedded in Twine's pages when bookmarked. Twine offered limited wiki capabilities to collaboratively edit documents. Information discovery was done through a user's main page where items appeared, organized by the twine they belonged to.
Twine used machine learning technologies that used semantic metadata to learn and generate more relevant, automatic information recommendations of possible interest to the user. Radar Networks remained in stealth mode until October 19, 2007, when Twine was announced and limited invitations were handed out for beta testing. In February 2008 it was announced that Radar Networks raised a Series B venture round led by Velocity Interactive Group, Vulcan Capital and Draper Fisher Jurvetson; the service became visible to the public and search engines in July 2008. 50,000 people had signed up during Twine's beta-phase and 34,000 were active at that time. Twine went public on October 21, 2008. On March 11, 2010, the search engine Evri Inc. announced the acquisition of Radar Networks and Twine.com. On October 5, 2012, Evri laid off much of its staff and shut down its commercial offerings, including evri.com Freebase — Online semantic database Resource Description Framework Semantic Web Web 2.0 Web Ontology Language
Bret Taylor is an American computer programmer and entrepreneur. He was the co-creator of Google Maps and the Google Maps API. Taylor left Google in June 2007 to join venture capital firm Benchmark Capital as an entrepreneur-in-residence, where he and Jim Norris, another former Google employee, created the social network web site FriendFeed. Taylor was the CEO of FriendFeed until August 2009, when the company was acquired by Facebook for an estimated $50 million. Taylor was the CTO of Facebook until the summer of 2012. On March 15, 2013, it was announced that Mike Schroepfer would fill the role as the new CTO of Facebook. Taylor co-wrote and maintains Tornado web server; the software was created at FriendFeed and was open-sourced after FriendFeed was acquired by Facebook in 2009. Taylor attended Stanford University, where he earned his bachelor's degree and master's degree in computer science. On June 15, 2012, Taylor announced his plans to leave Facebook to start a new company. On July 30, 2013, Quip announced.
On July 5, 2016, Twitter announced. On August 26, 2016 Quip was acquired by Salesforce.com and on November 21, 2017, Taylor was named president and chief product officer at Salesforce
LiveJournal, stylised as LiVEJOURNAL, is a Russian social networking service where users can keep a blog, journal or diary. American programmer Brad Fitzpatrick started LiveJournal on April 15, 1999, as a way of keeping his high school friends updated on his activities. In January 2005, American blogging software company Six Apart purchased Danga Interactive, the company that operated LiveJournal, from Fitzpatrick. Six Apart sold LiveJournal to Russian media company SUP Media in 2007. S. via a California-based subsidiary, LiveJournal, Inc. but began moving some operations to Russian offices in 2009. In December 2016, the service relocated its servers to Russia, in April 2017, LiveJournal changed its terms of service to conform to Russian law; as with other social networks, a wide variety of public figures use the service, as do political pundits, who use it for political commentary in Russia, where it partners with the online newspaper Gazeta.ru. The unit of social networking on LiveJournal is quaternary.
Two users can have no relationship, they can list each other as friends mutually, or either can "friend" the other without reciprocation. On LiveJournal, "friend" is used as a verb to describe listing someone as a friend; the term "friend" on LiveJournal is a technical term, but because it is loaded for many people, there have been discussions in such LiveJournal communities as lj_dev and lj_biz as well as suggestions about whether the term should be used this way. A user's list of friends will include several communities and RSS feeds in addition to individual users. "friending" allows a user's friends to read protected entries and causes the friends' entries to appear on the user's "friends page." Friends can be grouped together in "friends groups," allowing for more complex behavior. Features common to all accountsEach journal entry has its own web page, which includes the comments left by other users. In addition, each user has a journal page, which shows all of their most recent journal entries, along with links to the comment pages.
The most distinctive feature of LiveJournal is the "friends list," which gives the site a strong social aspect in addition to the blog services. The friends list provides various privacy services, described below; each user has a friends page, which collects the most recent journal entries of the people on their friends list. LiveJournal allows users to customize their accounts; the S2 programming language allows journal templates to be modified by members. Users may upload graphical avatars, or "userpics," which appear next to the username in prominent areas as on an Internet forum. Paid account holders are given full access to S2 management and more userpics, as well as other features; each user has a "User Info" page, which contains a variety of data including contact information, a biography and lists of friends, interests and schools the user has attended in the past or is attending. LiveJournal has five account levels: basic. Permanent accounts are not available to the average user. Before March 12, 2008, basic accounts were ad-free.
Basic users see advertising, but not on other basic journals. As well as allowing embedded videos from other sites, LiveJournal can host videos and allows users who have enabled the updated site design to post links to the hosted videos. Paid account featuresSending Text Messages – users can receive text messages sent via LiveJournal without sharing their phone number. If the text messaging feature is set up, anyone can use LiveJournal to send text messages to their cellphone by following a link on the User Info page. "To-do list" feature – LiveJournal offers “to-do lists” for managing users goals and aims. Users can have 150 to-do list items; each to-do list item must have a subject, priority and descriptions, percent done, due date and categories field. "Express Lane" -- users with paid accounts have access to express lanes. When logged into their Paid or Permanent Account during times of heavy site load, their requests for pages are sent to the web servers before other users' requests. "Voice Post" – members with paid accounts can call from any phone to a specific number, record the audio and upload it directly to their journal.
"Extra storage space" -- lets users store voice posts. Photos and voice posts that have been uploaded there are easy to include in the log entry; as of 2014, LiveJournal in the United States had 10 million monthly uniques, 30 million monthly visitors, 170 million pageviews. As with most weblogs, people can comment on each other's journal entries and create a message board-style thread of comments – each comment can be replied to individually, starting a new thread. All users, including non-paying users, can set various options for comments: they can instruct the software to only accept comments from those on their friends list or block anonymous comments, they can screen various types of comments before they are displayed, or disable commenting entirely. Users can have replies s
Reddit is an American social news aggregation, web content rating, discussion website. Registered members submit content to the site such as links, text posts, images, which are voted up or down by other members. Posts are organized by subject into user-created boards called "subreddits", which cover a variety of topics including news, movies, video games, books, fitness and image-sharing. Submissions with more up-votes appear towards the top of their subreddit and, if they receive enough votes on the site's front page. Despite strict rules prohibiting harassment, Reddit's administrators spend considerable resources on moderating the site; as of March 2019, Reddit had 542 million monthly visitors, ranking as the #6 most visited website in U. S. and #21 in the world, according to Alexa Internet, with 53.9% of its user base coming from the United States, followed by the United Kingdom at 8.2% and Canada at 6.3%. Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian in 2005.
Condé Nast Publications acquired the site in October 2006. In 2011, Reddit became an independent subsidiary of Condé Nast's parent company, Advance Publications. Reddit is based in California. In October 2014, Reddit raised $50 million in a funding round led by Sam Altman and including investors Marc Andreessen, Peter Thiel, Ron Conway, Snoop Dogg, Jared Leto, their investment valued the company at $500 million then. In July 2017, Reddit raised $200 million for a $1.8 billion valuation, with Advance Publications remaining the majority stakeholder. Reddit is a website comprising user-generated content—including photos, videos and text-based posts—and discussions of this content in what is a bulletin board system; the name "Reddit" is a play-on-words with i.e.. "I read it on Reddit." As of 2018, there are 330 million Reddit users, called "redditors". The site's content is divided into categories or communities known on-site as "subreddits", of which there are more than 138,000 active communities; as a network of communities, Reddit's core content consists of posts from its users.
Users can comment on others' posts to continue the conversation. A key feature to Reddit is that users can cast positive or negative votes, called upvotes and downvotes, for each post and comment on the site; the number of upvotes or downvotes determines the posts' visibility on the site, so the most popular content is displayed to the most people. Users can earn "karma" for their posts and comments, which reflects the user's standing within the community and their contributions to Reddit; the most popular posts from the site's numerous subreddits are visible on the front page to those who browse the site without an account. By default for those users, the front page will display the subreddit r/popular, featuring top-ranked posts across all of Reddit, excluding not-safe-for-work communities and others that are most filtered out by users; the subreddit r/all does not filter topics. Registered users who subscribe to subreddits see the top content from the subreddits to which they subscribe on their personal front pages.
Front-page rank—for both the general front page and for individual subreddits—is determined by a combination of factors, including the age of the submission, positive to negative feedback ratio, the total vote-count. There are 330 million Reddit users, called "redditors". Registering an account with Reddit is free and does not require an email address. In addition to commenting and voting, registered users can create their own subreddit on a topic of their choosing. In Reddit style, usernames begin with "u/". For example, noteworthy redditors include u/Poem_for_your_sprog, who responds to messages across Reddit in verse, u/Shitty_Watercolour, who posts paintings in response to posts. Subreddits are overseen by moderators, Reddit users who earn the title by creating a subreddit or being promoted by a current moderator; these moderators are volunteers who manage their communities and enforce community-specific rules, remove posts and comments that violate these rules, work to keep discussions in their subreddit on topic.
Admins, by contrast, are paid to work for Reddit. Discussions on Reddit are organized into user-created areas of interest called "subreddits". There are about 138,000 active subreddits among a total of 1.2 million, as of July 2018. Subreddit names begin with "r/". For instance, r/science is a community devoted to discussing scientific topics and r/television is a community devoted to discussing TV shows. Meanwhile, r/popular features top-ranked posts across all of Reddit, excluding not-safe-for-work communities and others that are most filtered out by users; the subreddit r/all does not filter topics. In a 2014 interview with Memeburn, Erik Martin general manager of Reddit, remarked that their "approach is to give the community moderators or curators as much control as possible so that they can shape and cultivate the type of communities they want". Subreddits use themed variants of Reddit's alien mascot, Snoo, in the visual styling of their communities; as of April 4, 2019, the top 10 subreddits by number of subscribers are: Reddit Premium is a premium membership that allows users to view the site ad-free.
Users may be gifted coins if another user valued the comment or post due to humorous or high-quality content. Reddit Premium unlocks several features not accessible to regular users, such as comment highlighting, exclusive subreddits, a personalized Snoo. R
Digg is a news aggregator with a curated front page, aiming to select stories for the Internet audience such as science, trending political issues, viral Internet issues. It was launched in its current form on July 31, 2012, with support for sharing content to other social platforms such as Twitter and Facebook, it had been a popular social news website, allowing people to vote web content up or down, called digging and burying, respectively. In 2012, Quantcast estimated Digg's monthly U. S. unique visits at 3.8 million. Digg's popularity prompted the creation of similar social networking sites with story submission and voting systems such as Reddit. In July 2008, the former company took part in advanced acquisition talks with Google for a reported $200 million price tag, but the deal fell through. After a controversial 2010 redesign and the departure of co-founders Jay Adelson and Kevin Rose, in July 2012 Digg was sold in three parts: the Digg brand and technology were sold to Betaworks for an estimated $500,000.
In September 2016, Digg announced. The "seven figure" investment would give Gannett access to real-time trend analysis of Digg's 7.5 million pieces of content. In March 2018, Digg announced that it would shut down Digg Reader. Digg was purchased by BuySellAds, an advertising company, for an undisclosed amount in April 2018. Digg started as an experiment in November 2004 by collaborators Kevin Rose, Owen Byrne, Ron Gorodetzky, Jay Adelson; the original design by Dan Ries was free of advertisements. The company added Google AdSense early in the project but switched to MSN adCenter in 2007; the site's main function was to let users discover and recommend web content. Members of the community could submit a webpage for general consideration. Other members could vote that page down. Although voting took place on digg.com, many websites added "digg" buttons to their pages, allowing users to vote as they browsed the web. The end product was a series of wide-ranging updated lists of popular and trending content from around the Internet, aggregated by a social network.
Additions and improvements were made throughout the website's first years. Digg v2 was released with a new interface by web design company silverorange. New features included a friends list, the ability to "digg" a story without being redirected to a success page. One year as part of Digg v3, the website added specific categories for technology, science and business, videos and gaming, as well as a "view all" section that merged all categories. Further interface adjustments were made in August 2007. By 2008, Digg's homepage was attracting over 236 million visitors annually, according to a Compete.com survey. Digg had grown large enough; some pages experienced a sudden increase of traffic shortly after being submitted. CEO Jay Adelson announced in 2010. In an interview with Wired magazine, Adelson stated that "Every single thing has changed" and that "the entire website has been rewritten." The company switched from MySQL to a distributed database system. Adelson summed up the new Digg by saying, "We've got a new backend, a new infrastructure layer, a new services layer, new machines—everything."Adelson stepped down as CEO on April 5, 2010 to explore entrepreneurial opportunities, months before the launch date of Digg v4.
He had been the company's CEO since its inception. Kevin Rose, another original founder, stepped in temporarily as Chairman. Digg's v4 release on August 25, 2010, was marred by site-wide glitches. Digg users reacted with hostile verbal opposition. Beyond the release, Digg faced problems due to so-called "power users" who would manipulate the article recommendation features to only support one another's postings, flooding the site with articles only from these users and making it impossible to have genuine content from non-power users appear on the front page. Frustrations with the system led to dwindling web traffic, exacerbated by heavy competition from Facebook, whose like buttons started to appear on websites next to Digg's. High staff turnover included the departure of head of business development Matt Van Horn, shortly after v4's release. On September 1, 2010, Matt Williams took over as CEO, ending Rose's troubled tenure as interim chief executive. In 2013, Andrew McLaughlin took over as CEO after Digg was re-launched.
In 2015, Gary Liu took over as Digg CEO. In 2016, Joshua Auerbach took over as interim CEO. In 2017, Michael O'Connor took over as CEO, continues as CEO today. In July 2012, Digg was sold in three parts: the Digg brand and technology were sold to Betaworks for $500,000. There are reports that Digg had been trying to sell itself to a larger company since early 2006; the most notable attempt took place in July 2008, when Google entered talks to buy Digg for around $200 million. Google walked away from negotiations during the deal's due diligence phase, informing Digg on July 25 that it was no longer interested in the purchase. Digg subsequently went into further venture capital funding, receiving $28.7 million from investors such as Highland Capital Partners to move headquarters and add st
Google Talk was an instant messaging service that provided both text and voice communication. The instant messaging service is colloquially known as "Gtalk", or "Gmessage" to its users. Google Talk was the name of the client applications offered by Google to use the service. Google Talk applications were available for Microsoft Windows, BlackBerry, Chrome OS operating systems. A Google Talk mobile web app had been available. In February 2015, the Windows client was discontinued and ceased to work, with Google recommending users to use Google Hangouts instead. Users of Windows client were instructed to migrate to the Google Hangouts app on the Chrome browser platform, it remained possible to connect to Google Talk with compatible third-party apps such as Pidgin and Gajim. Google dropped support for XMPP federation in May 2014, meaning that it no longer supports communicating with other XMPP servers. However, users can still chat with other non-Google Talk users using third-party XMPP clients such as Adium.
Google announced. Google Talk used XMPP to provide real-time extensible messaging and presence events, including offline messaging and voice mailing. Google Talk supported messaging with any service provider; this included EarthLink, Gizmo5, NetEase, MediaRing, according to Google, "thousands of other ISPs, universities and individual users."Other XMPP clients, such as Pidgin and Psi, were compatible with Google Talk's text chat, allowing text chat with XMPP users on a variety of platforms. In May 2013, Google announced its plan to drop support for the open XMPP standard in favor of proprietary Google+ Hangouts. Google Talk was integrated into Gmail; as it worked within a browser, the Google Talk client did not need to be downloaded to send instant messages to Gmail users. Conversation logs were automatically saved to a "Chats" area in the user's Gmail account; this allowed users to have them centrally stored in their Gmail accounts. For a long time, it was not possible to directly download chat logs that were not attached to an email conversation, although some workarounds had been found.
However, on September 15, 2011, Google announced a new feature of its Google Takeout program that allows users to download chat logs via IMAP. Google integrated Google Talk with Orkut; this enabled Google Talk users to interact with registered Orkut users, by sending and receiving "scraps" within Orkut. Orkut has since been shut down. Google Talk Gadget is a web-based module that may be embedded in iGoogle and other web pages, allowing text chat with users of Google Talk. Note: this functionality has been discontinued without any real announcement in the face of the release of the Google Hangouts services. Google+ is integrated into Google Talk. In the standalone client and the Google Talk widget embedded into Gmail and Google+, Google+ contacts appear in the contacts list, it is possible to receive phone calls from within Gmail by using Google Talk. In order to receive calls, the user must upgrade to a full Google Voice account. Users outside of the US could not upgrade to a full Google Voice account or receive phone calls in Gmail.
Google Talk allows users to leave a voicemail for a contact whether or not they are signed into Google Talk. Messages can be up to 10 minutes long and users can choose to have them sent to their Gmail inbox. Messages can be sent without first ringing the recipient's phone number. Google provides a Voice and Video Chat browser plugin for Google Talk that supports voice and video chat between Gmail users; the plugin is available for Windows, Mac OS X, Linux. The plugin must be downloaded and installed, but otherwise seamlessly integrates into the Gmail interface; the connection between the Google Talk client and the Google Talk server is encrypted, except when using Gmail's chat over HTTP, a federated network that doesn't support encryption, or when using a proxy like IMLogic. End-to-end messages are unencrypted. Google plans to call encryption in a future release; some XMPP clients natively support encryption with Google Talk's servers. It is possible to have end-to-end encryption over the Google Talk network using OTR encryption using other chat clients like Adium or Pidgin.
Google's version of "Off the Record" is not OTR encryption. Enabling "off the record" inside Gmail's Chat turns off logging of messages, but does not enable encryption. On November 1, 2006, Google introduced offline messaging to Google Talk; this allows users to send messages to their contacts if they are not signed in. They will receive the messages when they next go online if the user who has sent it is offline; this only works between Gmail-accounts though, not between Google Talk servers and other XMPP servers. On June 30, 2006, Nokia released new software for their Nokia 770 Internet Tablet, that included Google Talk as one of the compatible VoIP clients, because of the XMPP-based software. Another Google Talk-compatible device is Sony's mylo, released on September 15, 2006. A Google Ta