What you need to know - 06/28/11

Ronny Kerr · June 28, 2011 · Short URL: https://vator.tv/n/1c17

GSV Capital invests $6.6 million in Facebook; musician David Gray debuts album on Groupon

Coursekit, an education software startup, closed a $1 million seed round of financing from. IA Ventures (Roger Ehrenberg, Brad Gillespie), Founder Collective (Chris Dixon), Shasta Ventures (Rob Coneybeer), Ralph Mack, Nat Turner, and Zach Weinberg.

David Gray released his album exclusively on Groupon, beginning Monday, June 27, for only $6, more than half off the $13 retail price. Gray is the first artist to debut an album on the daily deals site.


GSV Capital bought $6.59 million worth of Facebook stock.

Ifeelgoods, a marketing company in digital goods incentives that drive sales and social media engagement, secured $6.5 million in a Series A round of funding led by Idinvest Partners.

PayPal now has 100 million active users.


Tablet ownership is on the rise, but in an interesting twist, the rate of tablet adoption lags behind the rate of e-reader adoption, according to a study released Monday by the Pew Research Center’s Internet and American Life Project

The RealReal launched as the self-proclaimed first designer resale flash sale site, featuring such well-known designer brands as Prada, Versace, Dolce and Gabbana, Christian Dior, Celine, and more.


Tibco launched the third version of its own enterprise social media platform, tibbr.



Twitter launched Twitter for Newsrooms, a collection of resources on how journalists should be using the microblogging site to forward their story.


Viralheat, provider of analytics and actionable intelligence on the social Web, secured $4.25 million in a Series A funding led by Mayfield Fund.

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Ronny Kerr

I am a professional writer with a decade of experience in the technology industry. At VatorNews, I cover the zero-waste economy, venture capital, and cannabis. I'm also available for freelance hire.

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Headquartered in Palo Alto, California, TIBCO Software Inc. (NASDAQ:TIBX) provides enterprise software that helps companies achieve service-oriented architecture (SOA) and business process management (BPM) success. With over 4,000 customers and offices in 40 countries, TIBCO has given leading organizations around the world better awareness and agility–what TIBCO calls The Power of Now®.

As markets become more dynamic and competitive, the ability to adapt is becoming the key competitive advantage for large organizations. To achieve this critical advantage and stay ahead of commoditization, organizations need the following:

  • Real-Time Visibility: The power to see what's happening right now across their operation and marketplace.
  • Real-Time Understanding: The power to make sense of it all so they can understand the impact of developing situations.
  • Real-Time Action: The power to act and adapt so they can immediately seize opportunities, mitigate risks and proactively maneuver around threats.

Together, these capabilities add up to real-time business and give companies what TIBCO calls The Power of Now: the ability to sense and respond to changes and opportunities as they arise.

TIBCO gives organizations The Power of Now by providing innovative software that helps them pursue initiatives in three important areas:

  • SOA : Helping organizations migrate to an infrastructure made up of services that can be assembled, orchestrated and reused.
  • BPM : Helping organizations better coordinate the process flows that control how their assets work together.
  • Business Optimization : Helping organizations convert streams of data into meaningful information and deliver it to employees, customers and partners.

TIBCO is focused on leveraging and extending the capabilities of its software to help companies move toward predictive business: an exciting new way of doing business that lets companies anticipate customer needs, create opportunities and avoid potential problems. As the basis of the real-time movement of data across the enterprise, TIBCO's software is uniquely capable of correlating information about a company's operations and performance with information about expected behavior and business rules so they can anticipate and respond to threats and opportunities before they occur.



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What is Twitter?

Twitter is an online information network that allows anyone with an account to post 140 character messages, called tweets. It is free to sign up. Users then follow other accounts which they are interested in, and view the tweets of everyone they follow in their "timeline." Most Twitter accounts are public, where one does not need to approve a request to follow, or need to follow back. This makes Twitter a powerful "one to many" broadcast platform where individuals, companies or organizations can reach millions of followers with a single message. Twitter is accessible from Twitter.com, our mobile website, SMS, our mobile apps for iPhone, Android, Blackberry, our iPad application, or 3rd party clients built by outside developers using our API. Twitter accounts can also be private, where the owner must approve follower requests. 

Where did the idea for Twitter come from?

Twitter started as an internal project within the podcasting company Odeo. Jack Dorsey, and engineer, had long been interested in status updates. Jack developed the idea, along with Biz Stone, and the first prototype was built in two weeks in March 2006 and launched publicly in August of 2006. The service grew popular very quickly and it soon made sense for Twitter to move outside of Odea. In May 2007, Twitter Inc was founded.

How is Twitter built?

Our engineering team works with a web application framework called Ruby on Rails. We all work on Apple computers except for testing purposes. 

We built Twitter using Ruby on Rails because it allows us to work quickly and easily--our team likes to deploy features and changes multiple times per day. Rails provides skeleton code frameworks so we don't have to re-invent the wheel every time we want to add something simple like a sign in form or a picture upload feature.

How do you make money from Twitter?

There are a few ways that Twitter makes money. We have licensing deals in place with Google, Yahoo!, and Microsoft's Bing to give them access to the "firehose" - a stream of tweets so that they can more easily incorporate those tweets into their search results.

In Summer 2010, we launched our Promoted Tweets product. Promoted Tweets are a special kind of tweet which appear at the top of search results within Twitter.com, if a company has bid on that keyword. Unlike search results in search engines, Promoted Tweets are normal tweets from a business, so they are as interactive as any other tweet - you can @reply, favorite or retweet a Promoted Tweet. 

At the same time, we launched Promoted Trends, where companies can place a trend (clearly marked Promoted) within Twitter's Trending Topics. These are especially effective for upcoming launches, like a movie or album release.

Lastly, we started a Twitter account called @earlybird where we partner with other companies to provide users with a special, short-term deal. For example, we partnered with Virgin America for a special day of fares on Virginamerica.com that were only accessible through the link in the @earlybird tweet.


What's next for Twitter?

We continue to focus on building a product that provides value for users. 

We're building Twitter, Inc into a successful, revenue-generating company that attracts world-class talent with an inspiring culture and attitude towards doing business.