Tag Archives: Silicon Valley

I love this video

I’ve always gotten a kick out of it, especially given the hype in the social media market until the Facebook IPO flamed out. Now, it’s great for nostalgia.

I have to admit – sometimes, I really do miss running Inside IPO (which is no more …). Also, I’m guilty of “I have an amazing team” – specifically the folks at my last gig.

Valleywag Is Coming Back!

ValleywagI still haven’t forgotten the sting that came when Valleywag was folded into Gawker, at which point it began a slow, pitiful death. I was a big fan of the blog, which had an amazing contributor base. To a certain extent, I learned the basics of blogging (and more) from them. Well, Nick Denton tells Business Insider that Valleywag is coming back, and I couldn’t be more psyched.

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IPO Watch: TeleNav

TeleNav filed with the SEC Friday to go public. The Silicon Valley-based company hopes to raise up to $75 million in its IPO. The company’s largest venture capital backer is Menlo Ventures, which must have high hopes for the transaction. The IPO is being managed by JP Morgan and Deutsche Bank Securities. No date has been announced.

TeleNav has more than 11 million paying users (as of the end of September) and provides its services through Sprint Nextel and AT&T.

[Via Reuters]

Facebook at Century 21 Prices

If you’ve never been to a Century 21 store, you’re missing an experience. I picked up an Armani suit there on the cheap (leftover, damaged, some-damn-thing), not to mention a Ted Baker shirt for around $50. It’s where you go in Manhattan for discounts. Where do you go in Silicon Valley? Apparently, Facebook.

As I mentioned yesterday, Facebook has put together a deal to allow employees to cash out of some of their pre-IPO shares. It’s generous, and from a business perspective, it makes sense. The only problem is that it has called Facebook’s claimed (and probably bullshit) valuation into question. They are allowing employees to sell shares based on a $15 billion valuation, which is based on the last equity investment made in the company.

Today, ValleyWag has reported that many Facebook employees agree with my assessment of the company’s valuation. Plenty of employees are trying to dump their holdings, several at a third of the company’s “perceived” value. Some could look at this cynically, perhaps as a lack of faith in Facebook. I get this. A year ago, we were talking about the invulnerability of MySpace, and now, the war appears to be long won.

But, I don’t think anything that jaded is at play.

Instead, I think employees want to take advantage of an opportunity to cash out, which is unsurprising when you figure that these guys probably have a shitload of compensation tied up in their equity holdings. And, I think they are being realistic about the value of the company. $15 billion is absurd; $5 billion is a thrid less absurd.

Again, I can’t shake my CMGi visions when I read this shit. It’s all coming back. At least I’ll have something to cover for a while.