![]() Get Your Free Email at HotmailĪfter the two sides worked out terms governing the initial $300,000 seed investment, Sabeer Bhatia and Jack Smith walked out of the Draper Fisher Jurvetson offices with a $50,000 bridge check and quit their day jobs. After their 20th venture capitalist meeting, Sabeer Bhatia and Jack Smith, former hardware engineers at Apple who first came up with the idea for webmail, finally raised seed money from famed VC firm, Draper Fisher Jurvetson. The trick is that they created something people really want, so much so that their customers happily spread the word about their product for them. ![]() In Viral Loop, Penenberg tells the fascinating story of the entrepreneurs who first harnessed the unprecedented potential of viral loops to create the successful online businesses-some worth billions of dollars-that we have all grown to rely on. The result: Never before has there been the potential to create wealth this fast, on this scale, and starting with so little. ![]() Many of the most successful Web 2.0 companies, including MySpace, YouTube, eBay, Flickr and rising stars like Twitter are prime examples of a “viral loop”-to use it, you have to spread it. No advertising or marketing budget, no need for a sales force, and venture capitalists will flock to throw money at you. Simply by designing your product the right way, you can build an insanely fast-growing business from scratch. ![]() Penenberg’s new book, Viral Loop: From Facebook To Twitter, How Today’s Smartest Businesses Grow Themselves. ![]()
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