Today my World Vital Records team let me see a sneak peek of what they have been working on for the last few weeks. We've been talking with genealogists around the world, attending conferences, and trying to create our company strategy. We have been acquiring large and small databases. There are so many wonderful companies and individuals in the genealogy industry that we are excited to partner with. We have been telling everyone that we are going to build the #2 genealogy company in the world. I guess we'll see if we can pull that off with the help of good partners and customers.
A few highlights from the Shutterfly S-1:
- $83.9 million in revenue last year with net income of $28.9 million (But $24 million was from a one-time tax benefit recognized in Q4 2005. The revenue growth is strong year over year.
- They have stored more than 900 million customer photos in their archives.
- They have sold 300 million prints in 11 million customer orders.
- 84% of their customers are female. This is a bit surprising to me.
I'm so happy for everyone associated with Omniture for successfully completing its IPO today. The shares opened at $6.50 and ended the day up slightly at $6.53 per share. Visit Yahoo Finance for more. This high tech IPO is a big deal for Utah, which needs more IPOs. And Omniture now has a war chest to help it maintain its leadership position in the web analytics space.
Phil Burns, whom I have described in the past as a Web 2.0 native that makes me feel like an old, slow, immigrant, is now heading up one of the most exciting things we are doing at Provo Labs. He describes in a recent blog our new Provo Labs Consulting services and how we will are utilizing our employees, our portfolio companies, and their extended networks to provide excellent technology and business solutions for its customers. Phil is on fire with this concept.
The New York Times reports that Senator Clinton's campaign has hired an experienced political blogger. The 2008 Presidential Election is going to heat up the blogosphere in the next two years. But I'm really afraid most of the candidates won't actually do it right. I'm afraid they'll try to use the web as a top-down communication tool, and not a giant listening device and organizing device that actually empowers citizens to be involved in government.
Here's a great NY Times article about how Japanese cell phone users are able to point their specialized phones at buildings and monuments and get information about the location. More than 700,000 locations have information or advertisements associated with them already. or A San Francisco-based company called GeoVector is involved.
I recently found a great blog promoting Mitt Romney as a presidential candidate for 2008. Mitt and his team saved the Salt Lake City 2002 Olympics from financial disaster. As Governor of Massachusetts he has not only helped the state go from major deficits to a budget surplus, but he is vigiliant about helping the state stay out of the red. He vetoed $290 million in spending just this past week.
I noticed two interesting articles in the NY Times today. The juxtaposition made me think. One article says up to $2 billion in taxpayers money has been wasted in the aftermath of Hurricane Katrina. It gives several examples of how money has been misspent.