My daily readings 04/26/2011

  • tags: facebook Group Competition

    • In addition to the new Send button, Facebook is adding a handful of features to its existing Groups product, which was overhauled last October. First is the introduction of photo albums for Groups. Before now it’s been possible to upload a single photo to a group, and now you’ll be able to upload a whole set. These photo albums are unusual because they’re walled within the Group — only other group members will be able to see them (even tagged photos aren’t visible to people on the outside).
    • Finally, and most important, is a new setting that will require Group administrators to approve any new members who have been invited to join the group. Up until now anyone within a Facebook Group was able to invite any of their friends (the idea was that you’d be violating the ‘social contract’ if you started inviting people who didn’t belong). But now Facebook recognizes that there are some groups that should be more private, so you can require admin approval.
  • tags: clipboard

  • tags: Wufoo SurveyMonkey

    • That’s awesome news. Congratulations to the Wufoo team — it is well deserved. (Their product is awesome.)

      It is also great news for SaaS startup generally, since Wufoo is a little of column A and a little of column B on the typical grow via revenues VS get investment and grow massively dichotomy. That’s a data point in the favor of at least some investors making investments in companies which have a projected trajectory where massive success results in a company on the scale of 37Signals/FogCreek/Wufoo rather than resulting in a company on the scale of Zynga/Groupon. $35 million won’t exactly have VCs salivating but, oh well, if they don’t invest they don’t get a vote — the angels and employees of Wufoo have to be happy like clams at this outcome.

    • If you consider a 10x multiple, revenues would have been in $3-4 MM range. Wufoo sets a great example for exits where VCs are not involved but are awesome for founders + employees.
    • Yeah, survey monkey does $40M/year in revenue. The company took $100M in debt financing to pay the founders, and put cash in the company coffers. The $100 million was more of a tax-arbitrage deal than anything else. (In the US equity payments are double taxed, but debt service isn’t)
  • tags: Designer

  • tags: Dropbox

Posted from Diigo. The rest of my favorite links are here.

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