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That’s something that you, as an entrepreneur, can appreciate, right? Eventually, Zip2's reign as a stand-alone company came to a close. If it sounds like science fiction, fair enough. Zip2’s online city guides added local breadth to AltaVista’s features. Author’s Note: I couldn’t have made this profile of Elon Musk without the sources referenced above at Forbes and CNET, in particular. Last April, Zip2 and CitySearch, a company that specializes in city directories and entertainment listings, said they would merge in a deal valued at more than $300 million. It’s not all been perfect, though. Hoping to buy AltaVista's way to the top of the Web portal heap, Compaq says it will acquire the provider of Internet platform solutions for media companies and local e-commerce merchants. The deal was big, with the final transaction totaling around $300 million in cash and $34 million in stock options. He also once again took a massive risk, eventually investing $100 million of his own money in SpaceX. He's a regular contributor to Anthill Online, the Quote Roller Blog, and Naluda Magazine, among many other sites. He’s one of those stories – the boy with wild dreams who somehow manages to harness enough business savvy and personal charisma to make anything happen.
In his heart, he’s an inventor, an engineer, and an idealist. Zip2 quickly attracted Venture Capitalists, almost entirely on the strength of Musk’s ideas alone. You might say he’s lucky, too. Tesla Motors seems to have all eyes upon it, from the automotive industry, to Wall Street, and everywhere in between. The South African-born tech magnate has always been ambitious, teaching himself computer programming as a child; selling his first coding effort, a video game, for $500 at the age of twelve. Elon Musk is the billionaire of the moment, a man who’s next move is sure to make news, whatever it happens to be. Not too shabby for … The stock has traded as high as 51.25 and low as 22.94 during the past 52 weeks. In response, Musk delivered the truth. Back in 1995, the Internet was new to most people. Addressing the incident in a post on the official Tesla Motors website, Musk turned a negative into a positive, explaining that firewalls and other safety features in place in the car had performed as intended, and that the fire was not the result of a manufacturers defect. Musk lived in a small office and tapped the Internet from an Internet Service Provider stationed on the floor below with a network cable strung through a hole in the floor, as Musk himself recalled while speaking at Stanford University in 2003. Other media sites include newspapers in the Hearst, Times Mirror, and Pulitzer Publishing chains. Again, the core idea came from Musk, a man who finds himself innovating and selling by being as much an innovator as a taker of risks. It … But someone has to think of stuff like this. He’s an innovator and business ace who, so far, seems to have the Midas touch. "This is a perfect complementary fit to the current AltaVista direction," said Shrock. So convey that confidence in your proposals, and above all else, make sure you deliver the awesomeness, just like Musk. At the ripe age of 42, his successes are already the stuff of entrepreneurial legend. This one was a billion-dollar deal. Even at the time he came up with Zip2, Musk was thinking ahead. In that case, he was thinking about “local” in a way that all the current crop of social/mobile/local evangelists would be right to consider prophetic. He's helped media outlets and brands alike connect with their audiences. Obviously, Tesla stock has taken a hit in the wake of that incident, but in all likelihood, like a veritable phoenix, Tesla will rise from the ashes of that unfortunate Model S that caught fire. Along the way, SpaceX has issued business proposals that garnered investments from the Founders Fund and private markets. At the time, eBay used a proprietary payment system that really precluded X.com from being able to tap into the burgeoning “world’s online marketplace.” The famous auction site and PayPal were by no means fast friends. The company developed its first model, the Tesla Roadster, an all-electric sports car, in 2006. Still, Musk retains a majority stake in the company’s $2.4 billion in revenue. That’s not to say that SpaceX’s success is any less impressive. Before long, the company had entered into contracts with heavy-hitting news outlets like The New York Times and Knight-Ridder, among others. AltaVista said it hopes the acquisition will allow it to provide localized information and e-commerce, noting that local e-commerce generates 90 percent of all online transactions. Compaq Computer offered 307 million dollars for Zip2, and Zip2 agreed. In 2000, X.com bought out rival service Confinity and renamed the new company PayPal and shifted its focus from online banking to payment processing. eBay buyout of PayPal was a $1.5 billion stock transaction, $145 billion worth of transactions, as of 2012, As Tom Junod reported in the December 2012, had generated more than a billion dollars. Financial terms of the deal were not disclosed, but AltaVista chief executive Rod Schrock said today in an interview with CNET News.com that the company "did pay more than we did for the Shopping.com transaction, which was $220 million.". PandaDoc is a robust document management platform with Quote Roller’s CPQ functionality built-in. As Tom Junod reported in the December 2012 issue of Esquire magazine, Musk’s space venture “co-opted NASA,” trouncing on the public interest once assigned to the recently mothballed space shuttle program, doing so with remarkable successes like that of its and Dragon’s spacecraft, which successfully orbited Earth twice in December 2010.
Elon and Kimbal Musk, the original founders, netted US$22 million and $15 million respectively. Musk’s first major entrepreneurial success happened in 1995. Discussion threads can be closed at any time at our discretion. And it’s with good reason, too.
He knows his limits, they just happen to be orbiting his body from the distance of the International Space Station, or maybe even Mars. Privately held Zip2 will become an operating division of AltaVista, a wholly owned subsidiary of Compaq. We delete comments that violate our policy, which we encourage you to read. Even more recently, Musk has stuck a stake through the heart of guys around the globe, buying (initially anonymously) James Bond’s Lotus Espirit submarine.
Even as Tesla Motors rakes in sales and overcomes its first public challenges, Musk is as restless as ever. Using $10 million of the money he cleared in the sale of Zip2, Musk promptly started his next business, X.com. Zip2 helps develop, host, and maintain consumer Web sites specifically for media companies. It’s a planned to be a vacuum, mind you, said to “suck” travelers from one city to the next at incredible speed. “Failure is an option here. While most of us were still fascinated by listening to the noises coming out of our fax modems, Musk was climbing onto the dot-com bandwagon at the height of its heyday. With Forbes reporting his net worth at $6.7 billion, who wouldn’t want to take a page out of the book of Elon Musk? In the course of his career, Musk has shown a willingness to make a proposal and nurture it until it happens, as he’s proven time and again. The idea was for a method of transferring money via email, securely. That’s always something to consider when assessing a success of Musk’s caliber. Elon Musk ended up gaining twenty-two million dollars on the transaction.
"We don't expect there to be any changes in the way New York Today operates," said Lisa Carparelli, a spokeswoman for the New York Times. He’s a man who’s had big ideas and went for them, with a refreshing singularity of vision. That year, Musk developed an application that would help newspapers create directory-style websites for cities with online guides. Initially, his only partners in the business were his brother Kimbal and a friend of his mom.
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