Yes, he is a confessed contrarian and self-incriminating skeptic. But with those cards face up on the table, the author behind the decidedly anti-Web 2.0 blog, irreverently named Dead 2.0, offers a sobering assessment of two Seattle companies who have recently been on the receiving end of what could be defined as “Megafunding.” Megafunding is an amount of investiture that dramatically exceeds the basic operational bootstrap needs that are necessary to get a company from point A to point B, or one round to the next, in the implementaton of their business plan.
Both Jobster and Zillow have received north of $25 million dollars in VC megabucks in recent weeks which cynics like our Dead 2.0 blogger think is bordering on over-valuation. “I can’t help but feel that it’s the push to the higher valuations (which are probably caused in part by the MySpace acquisition and FaceBook’s ridiculous decision to turn down ~$800 million, a.k.a, the last offer they will probably get) that will accelerate [Canadian] Mark Evans’ prediction for the coming bust 2.0,” says the anonymous scribe.
A week earlier, the deadster did propose “11 Suggestions for Not Being a Dot-Bom 2.0.” Have a revenue model right now. Be a complete busines, not a feature. And affect real people, not just bloggers. His parting shot: If applicable, get unaffiliated with Web 2.0, because it is hype and will have a very negative backlash in a little while. [24×7]
Seattle’s Omni Group Unveils OmniPlan Project Management for Mac
Founded in 1993, Seattle’s Omni Group has been consistently dedicated to making Mac software fun to use and Mac software users fun to be around, because they are less stressed out and more productive. OmniWeb, the Net’s first multi-featured, tab-enabled browser, OmniGraffle, the ultimate chart and diagram maker, and OmniOutliner are only a few of the Group’s software megahits! Now the Omni-potentates have brought the strength and ingeniuty of their outliner, diagrammer and data interface tools to a striking culimination — OmniPlan, the easiest way to get things done on time, on task and on schedule. A public beta version is now available on site. [24×7]
Kathy Wilcox Stepping Down at WSA Chief
WSA, the state’s oldest and largest technology trade organization focused on ensuring Washington State’s leadership position in the digital economy, today announced that Kathy Wilcox will step down as WSA’s president and chief executive officer at the end of 2006.
Under Wilcox’s leadership over the past 12 years, the WSA has grown with Washington’s technology industry. It now represents leaders in nearly every category of information technology, and has achieved national and international stature as an industry-leading non-profit organization.
Michele Vivona, chair of the WSA board, said the organization has begun a search to find a new CEO who has significant private sector and management experience. WSA expects to have the new CEO in place by Dec. 31. [24×7]
Amazon to Retrench
Shares of the world’s biggest on-line retailer, plunged the most in almost five years after Amazon announced that spending on technology and its new on-line toy store will hurt annual profit.
The stock fell $7.33 (U.S.) or 22 per cent to $26.26 on the Nasdaq Stock Market, its lowest in more than three years.
Amazon will “invest heavily” in toys in the second half, chief financial officer Tom Szkutak said Tuesday. That, along with plans to cut prices “aggressively,” led Amazon to reduce its estimates. Chief executive officer Jeff Bezos said he forecasts the growth of technology spending to slow even as he promotes the company’s free-shipping plan.
Mr. Bezos also is increasing shipping costs as he promotes its Amazon Prime membership program, through which members pay $79 a year and receive free two-day shipping. [24×7]