On Saturday I got a big spike in traffic to my blog (which I didn't post to all last week because I was on vacation), because I got two mentions in the Daily Blog Watch at TheStreet.com. He linked to my post about Provo Labs 11 investments and how we are using Craigslist, and he also linked to my post about Yahoo Finance containing errors.
My sister is one smart cookie. She has helped me with data prep projects since the early 90s and has built web sites for me and done internet marketing for me. When I need help, I can turn to her. One site she built for 10x Marketing generated $7,000 in revenue just a couple months after it was built--and with no extra maintenance. So now RoMay is doing marketing training classes, emphasizing internet marketing. She was one of my top students in my BYU Internet Marketing class last fall. (I think she got 100% on almost evey quiz.) She is outstanding.
Please put this on your calendar--a great annual event celebrating fast growing young companies in Utah. 25 companies will be highlighted that are under 5 years old. Visit the UVEF web site to learn more about the organization that runs this program. This is kind of a pre-Utah 100 and pre-Inc 500 celebration, since it honors even younger companies.
"TOP TWENTY-FIVE UNDER FIVE" TO BE ANNOUNCED ON July 13th! (Please note change of location from Provo Novell Building G to Building A)
So in the past 7 months, Provo Labs has started or invested in 11 companies. It's been a bit wild. So for the next 6 months at least, we are going to stop investing and incubating new ideas and focus 100% of our energies on helping our current portfolio with revenue growth, with the goal of getting each company to cash flow positive without any additional investment from Provo Labs.
A couple days ago I blogged about Omniture's (OMTR) market cap being half that of Web Side Story (WSSI). I based my blog post on Yahoo Finance. They put Omniture's market cap at $102.7 million today. Fortunately, two of my readers have commented that Yahoo Finance was wrong. The number of outstanding shares is not 14 million, but 40-50 million.
This past week I've listened to an excellent businessjive.com podcast featuring famous blogger Robert Scoble, who just left Microsoft to join podtech.net. Judd Bagley did a great interview. You learn how Robert's background in journalism has positioned him to be a major player in the blogging and podcasting movements and how his father's relocating to Silicon Valley gave him phenomenal opportunities, even while he was in junior high or high school.
Carolynn Duncan used an ingenious approach to convince me and Phil that she was the right person for our latest position at Provo Labs. After finding out about the opening from her friend Adam (who works at our online video company 10Speed Media), she started a blog called "Why Provo Labs Wants to Hire Carolyn Duncan" at blogspot.
YouTube hailed as advertising medium of the future - vnunet.com My next Connect magazine article will focus on the power of online video in marketing and advertising. (I've been working on it today.) So I was glad to discover this article quoting Leo Burnett's Chief Creative Officer saying YouTube is the ideal advertising platform of the future.