Looks like Groupon will go public on Friday morning at $20 per share, giving it a valuation of $12.6 billion for its online coupon business. Let’s compare it to some of the greentech startups and big energy firms and try not to get disturbed.
A group of seven investment bodies, including the New York City Pension Fund, have teamed up in an effort to get major U.S. Internet service providers to detail their privacy practices through the power of the shareholder resolution. As powers go, shareholder resolutions are far more about bringing change through public relations than via any financial coercion, but sometimes they really work.
The project is called the Open Media and Information Companies Initiative, and the goals of its campaign range from protecting free speech online to getting ISPs to document their network management practices for the public. So far the group has filed shareholder resolutions with the following companies: Read More about Shareholder Activists Take On Web Privacy
My Chicago-based startup, The Point, helps people start campaigns for collective actions of all kinds, from organizing a poker game to boycotting a multinational corporation. We’ve been fortunate so far, enjoying steady growth, happy users, and money in the bank. (In February, we raised a $4.8 million round of venture funding from New Enterprise Associates). But hindsight is 20/20 and any entrepreneur, given the chance, would do some things differently.
In our case, we spent nine months developing extra features to accommodate our grand vision instead of focusing on what our users would really need. This cost us precious time, delaying our launch, originally planned for June 2007, to November of that year. Even after launch, the costs lingered — maintaining the extraneous features was a time-consuming distraction from improving the parts of The Point that people were actually using.
Thankfully, we caught on to what I call the curse of “vision overload” — when you put your vision ahead of your users — and quickly reversed course.