Reshma Saujani's Innovation Advisory Board is hosting an event on the evening of May 3rd called "Start-up NY: Innovation and Technology Startups in New York".
Moderated by prominent tech blogger Meghan Asha, Saujani has gathered six panelists with backgrounds in venture capital, education, politics, entrepreneurship and social networking to discuss technology and innovation in New York City.
Panelists include:
Albert Wenger, Managing Partner, Union Square Ventures (The event is near Union Square) Dina Kaplan, Co-founder, Blip.tv Evan Korth, Clinical Associate Professor, NYU; Organizer, NY Hackathon Franklin Madison,Technology Program Director, ITAC (Industrial and Technology Assistance Corporation) Nate Westheimer, Executive Director, NY Tech Meetup; Co-founder, AnyClip Reshma Saujani, Community Activist and Democratic Congressional Candidate, NY District 14
A question and answer session will follow. The event will be broadcast live at Livestream.com and recorded for a broader audience.
Reinforcing Saujani’s commitment to entrepreneurship, economic diversity and innovation in New York, the “Startup” summit is the first in a series of ideation panels. In the coming months, additional summits will focus on cleantech, biotech and public-private partnerships.
We hope you can join us for the event.
WHEN
May 03, 2010 at 6:00 PM
WHERE
833 Broadway
3rd Floor
New York, NY 10003 Google map and directions
Selling FourSquare would be a mistake, a huge mistake, a fatal mistake, taking $10 million at a $80 million valuation from a VC firm would be a good move, but the best move at this point would be to take $10 million from Yahoo upfront and then $10 million annually thereafter to be reevaluated in two years to add location to as many Yahoo properties as possible. Just like Twitter took $25 million each from Google and Microsoft to let them offer tweets as search results so as to be able to claim they also now do real time search, FourSquare should also make money by letting Yahoo be able to say Yahoo now does location in a big way.
Take $10 million right away, and then another $10 million for the first year, and turn the various Yahoo properties into a major project. Expand the team. Get a new office space. I recommend Dumbo. (Digital Dumbo: Here I Come) If not Dumbo, then Williamsburg. Actually, Williamsburg would be far better. Cooper Union is too cooper.
If FourSquare can cut a deal like this with Yahoo, it can cut a deal like this with many other major web properties. It could fund its growth with all that money. You go to VCs, you get diluted. You make money like this, you don't get diluted.
Yahoo would be a great first customer for FourSquare. You have to understand, Yahoo used to be Google, it was hot. It was so hot, selling to Yahoo was the first exit strategy the two Google founders thought of. It was Yahoo that refused. We already have a search engine, they said. Over the past decade Yahoo has tried to regain some of that lost glory. In FourSquare they see a chance of that happening. Yahoo mistakenly thinks buying FourSquare will do it for them. It won't. Instead if they cut a deal with FourSquare, that will cost them much less money, as less as one fifth, and could actually do the trick of making Yahoo a hip company all over again.
Yahoo is going through an identity crisis of sorts, and cutting a sound deal with FourSquare might just be that thing it needs.
FourSquare needs the money to grow. Yahoo needs location. Cut the deal. How will FourSquare add location to the Yahoo properties? That is a whole another blog post, or preferably a job.
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