Did you know that big tech companies like Google or Facebook acquire promising startups not only to get their ideas and products, but also to take over the brilliant people that created them. For example, Facebook’s acquisition of Oculus Rift allowed them to hire John Cormack, a pioneer in 3D game programming. In 1996 Apple paid a ridiculous $429M for Next mainly to get Steve Jobs back on board!
DID YOU KNOW: Facebook’s offer to WhatsApp for $19 Billion was only the fourth largest acquisition bid of 2014. Find out the top three acquisition bids of the year below.
Discover some of the largest acquisitions, the reasons behind these acquisitions and learn from what made them great and what made them fail below.
Provided by financesonline.com
Tech Start Ups REJOICE! There’s a little magic coming your way in the form of cash dollars!
Legendary NBA star for the Lakers and—Michigan State alum, Earvin “Magic” Johnson has announced he has joined a tech start-up VC group, Detroit Venture Partners, and will be infusing millions of his own personal dollars into Detroit-based tech start-ups.
Detroit Venture Partners primarily incubates and funds early-stage companies working on mobile apps, cloud computing, and social networking.
While the companies that built Detroit continue to build cars somewhere else—and occasionally take a government bailout—these are some corporate citizens at least trying to do something for a city on the verge of a major comeback.
Are you a tech startup? Have a great idea? Maybe you should take a second look at Detroit and Magic Johnson…it could put dollars in your pocket!