A month after being named San Francisco’s interim mayor, Ed Lee was ushered into a small conference room at Twitter Inc. headquarters, his first visit to a technology company. The social networking startup, which had about 400 employees and was planning to add at least 2,000 more, was considering leaving the city, its executives said.
Innovation Works, the venture capital firm founded by Google Inc.’s former China head, said its new fund focused on Internet startups in the Asian nation attracted investors including Ron Conway and Yuri Milner.
The Google bus has become a symbol of the dual-class system forming between San Francisco’s tech elite and everyone else. Just this week, venture capitalists Chamath Palihapitiya and Ron Conway got into a fiery debate at Bloomberg’s Next Big Thing Summit over whether Silicon Valley and City Hall have been complacent in the growing income inequality.
How do you sell the technology company you founded for $1.8 billion and five years later file for personal bankruptcy? For Halsey Minor, it may have been a fascination with houses, hotels, horses and art.
Twitter Inc.’s initial share sale is poised to generate riches for its founders and venture investors -- as well as celebrities from Richard Branson to Ashton Kutcher and a host of lesser-known backers who bet early on the microblogging service.
AOL Inc. , the once-dominant Internet service provider that saw its market value and user base dwindle over a decade, may restore lost relevance after yesterday’s purchase of TechCrunch Inc. and two other startups.