This is amazing. In 2001 Google hired executive search firm Heidrich & Struggles to help recruit a CEO. As their fee, the firm negotiated warrants which allowed them to purchase 1.2 million Series B shares of Google for $0.30 per share. After exercising these warrants, they sold their shares today and netted $128 million. Not bad for finding one Chief Executive Officer.
Very smart move today announced by XM Satellite Radio. They'll be leveraging all their content and programming online. Now you can subscribe to "satellite" radio with its hundreds of ad-free channels without owning a satellite. The XM stock chart is looking very good. Market cap is $6.25 billion.
From CNET. Verisign reports that people registered 4.6 million new domain names in the second quarter of 2004, up 2.5 percent from the previous quarter. The registrar said the last time this many domain names were registered in three months, it was the late 1990s.
BBC Reports that Star Trek online will be launched in 2007, attracting potential millions of customers. "DFC Intelligence forecast that the worldwide market for online games will reach $9.8 billion in 2009."
Yahoo is paying $160 million for San Diego-based Music Match. With it, Yahoo gets 225,000 subscribers who pay $8 per month for the all-you-can-eat subscription service that offers 700,000 songs to computer users. This is similar to RealNetworks Rhapsody service, which has more than 550,000 subscribers.
I blogged recently about the IPO of Extra Space Storage, which may have been the largest IPO in Utah history.
But that IPO will surely be dwarfed by the forthcoming IPO of Huntsman Chemical. Some speculate it may raise as much as $1.5 billion. The company has debts of approximately $5.8 billion, which it needs to pay down.