In New York and San Francisco, a lot of business networking happens after business hours at bars and other venues. There are places to go almost nightly, where co-workers hangout together and people meet new people. Back in 1999 one of my MyFamily.com co-workers in particular was the king of San Francisco after hours business networking--he knew everyone at other SF dot coms. Such networking leads to cross-pollination of ideas and deal-making and has a very positive impact on business.
Yesterday I attended the Mountain West Venture Group annual Deal Flow lunch where the 2004 Deal Flow report was handed out. Here's a report from the Salt Lake Tribune.
Activity is picking up in Utah, but the Deal Flow report misses a lot of early stage funding activity: Infobase Media ($1.15 million), Firepoll and SilentWhistle are three companies I'm aware of that aren't listed in the report. I bet they miss most angel financings.
They announced the following for 2004:
Two friends have told me I should join YEO--Young Entrepreneurs Organization. If you are a YEO member, please comment on how valuable it has been to you, on a scale of 1-10 (10 being the highest).
While surfing, I just came across a Bay Area group with called Alliance of CEOs (www.allianceofceos.com) that looks interesting--only there isn't a chapter in Utah. Colorado's CXO.org also looks interesting.
A lawyer visiting from Texas (BYU alum) asked me yesterday about the most exciting companies in Utah and the sectors where I am seeing the most startups. I told him I'm more entrepreneur than investor, so I haven't mentally categorized the hottest sectors for startups, but I did mention that Governor Leavitt had in mind 9 "economic ecosystems" where he thought Utah companies could do well.
I got an email from an employee of LinkedIn.com this week and saw a link to his LinkedIn profile page in his email signature line. I wanted to test a link to my own LinkedIn.com profile before I add it to my permanent site navigation. You have to be a member of LinkedIn.com with "remember my password" checked in order for this link to work: Paul Allen on LinkedIn.com.
Worldhistory.com is now one of 60 vertical search engine choices listed at A9. We learned about A9's invitation to "vertical search engines" to provide their search results to A9 users just yesterday. Last night our search engine developer did the integration, making our timeline database available to potentially millions of A9 users. I love the speed of internet business.
From moconews.net (the best source for information on mobile content):
According to eWeek, A9.com (owned by Amazon) has introduced a new concept called OpenSearch which allows "vertical search engines" to be added to the A9.com search engine which Amazon introduced last year. A9 wants to do for vertical search syndication what RSS has done for content syndication.
I was very fortunate to be involved from the beginning of Ancestry.com: an internet startup that achieved positive cash flow (by July 1998) before raising outside capital. This required some self-funding, bootstrapping, and using all the online marketing tactics that we could discover. It also helped that we sold annual subscriptions to our online databases. We would collect the money up front, but recognize the revenue over a full twelve months. So we achieved positive cash flow well before we reached profitability.