ATG Founders Aim To Turn Company-Building Into A Science With Their New ‘Venture Foundry' Redstar
Jeet Singh and Joe Chung have already had a nice exit, taking their enterprise software company Art Technology Group public (it was acquired by Oracle for $1 billion back in 2010). Now they're hoping to turn the act of building successful startups into a "repeatable process," through their new firm Redstar ventures. Singh and Chung, along with their third co-founder Matt Beecher, said they became interested in angel investing a few years ago, but at the same time they were turned off by the randomness and risk of the traditional model. So they developed their own approach, a "venture foundry," where the firm focuses on a few broad themes, develops companies internally, and then spins them out if they seem to be getting traction. Here's how the model is described on the Redstar website:
Treasure Data Projects 500 Percent Growth This Year, Launches New “Plazma” Distributed Database
It’s only been six months since cloud data warehousing company Treasure Data launched its services, but they’re already reporting some impressive growth figures. Treasure Data achieved month-to-month profitability last year, and they’re well on track to achieve a 500 percent increase in revenue this year. They’ve also amassed 50 high-profile clients, which include a leading social gaming company, a mobile advertising platform based in France, and some other Fortune 500 companies – unsurprisingly, Treasure declined to name names. Treasure Data is basically a massive warehouse in the cloud for companies to store their data. Big companies like IBM, Oracle, and Teradata offer data services as well, but with their rates going as high as $5 million, that’s not something every business can afford. Treasure Data, on the other hand, costs $1,500 to $2,500 a month with a year-long commitment. That’s a low enough price point for companies that can’t afford or do not have the resources ...
Two Outside Bids For Dell Threaten Founder's Buyout Plan
An anonymous reader writes "Seven weeks ago, Dell announced a definitive agreement to be taken private by a group led by founder and CEO Michael Dell and the private equity firm Silver Lake Partners, assisted by a $2 billion loan from Microsoft and debt financing from a group of big banks. The deal was valued at $24.4 billion ($13.65 per share of Dell common stock), but allowed for a 45-day "go shop" period for alternative bids to be submitted to a special committee of Dell's board. Not all large shareholders were happy with the price, and early this month billionaire investor Carl Icahn threatened to tie up the buyout in court unless a large special dividend was paid to shareholders — without showing interest in buying the company himself. More recently, the private equity firm Blackstone Group jumped into the fray, and by Friday night's deadline both Blackstone and Icahn had submitted bids for Dell exceeding the original $13.65 per share agreement. Blackstone is said to be interested ...
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Oracle’s New Software Sales Fall and Stock Slumps
Oracle posted a 2 percent drop in new software sales and Internet-based software subscriptions to $2.3 billion in its fiscal third quarter, missing its own forecasts and sending its shares sharply lower.
Oracle Q3 Misses Wall Street Expectations With $9 Billion Revenue, 65 Cents EPS
Oracle this afternoon announced the financial results for the third quarter of its fiscal 2013, a report that seems to have disappointed stock market investors who were projecting a stronger performance from the company. The enterprise-focused software and hardware technology giant said it earned $9 billion in revenue during the quarter, reflecting a sequential decrease from the second quarter of 2013, when it earned revenues of $9.1 billion, and a year-over-year decrease from Q3 2012 when it made revenues of $9.04 billion.