Zipping Forward: Musk Starts His First Company
Zipping Forward: Musk Starts His First Company
With that, Musk decided to drop out of school and try to get in on the action. He quickly found himself at a standstill, however, having little money to his name. The solution, he figured, was to create a company of his own, and he had just the idea.
Musk founded a company called Zip2. It was a software company that helped news organizations publish their information online. By the time Musk sold it to Compaq, he could count the New York Times and Knight-Ridder as two of his many customers. Compaq bought Zip2 for $307 million in cash and $34 million in additional stock options.
Instead of entering early retirement with his newfound wealth, Musk decided to invest his profits into his next venture, X.com. The site began by offering a number of banking services to customers online, but Musk quickly discovered that its most popular feature was the ability to send money by email. One year later, Musk bought a company called Confinity, which had developed the ability to send money between Palm Pilots. Musk wanted to use that technology for himself.
In 2001, X.com legally changed its name to PayPal and bought the rights to the domain name. Here, Musk focused solely on improving the ability to securely email money. It was slowly becoming a popular online feature of many websites, including eBay. eBay members found it to be a convenient way to pay for their purchases. It was becoming so popular, in fact, that just months after PayPal went public, it was bought out by eBay for $1.5 billion in stock.
Again, Musk could have sat back and enjoyed his earnings, but sitting back was something Musk did not know how to do. In 2002, Musk started up his third company, but this time he was setting his sights on new heights, literally. With little experience in the field, Musk founded Space Exploration Technologies (SpaceX). He is currently both its CEO and CTO, and is overseeing the company’s efforts to manufacture low cost space launch vehicles. He wants governments, universities and businesses alike to use his company to get satellites cheaply into space. In the long term, Musk wants his company to help colonize outer space.
Musk is also taking a role in the fight against global warming. He is the Chairman of both Tesla Motors, which is trying to bring low-cost electric cars to the market, and SolarCity, a company that focuses on photovoltaics.
Many observers see Musk as being all over the map, moving from online electronic payments to putting satellites into space. But Musk sees little difference between the two ventures; both are about starting up a successful business and turning a dream into reality.
Zipping Forward Musk Starts His First Company
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It was 1995. Musk was getting ready to begin his doctorate at Stanford University, but it was not the academic world that was exciting him. Instead, it was the Internet craze that he found himself surrounded by in Silicon Valley. “I could either watch it happen, or be part of it,” he says.
With that, Musk decided to drop out of school and try to get in on the action. He quickly found himself at a standstill, however, having little money to his name. The solution, he figured, was to create a company of his own, and he had just the idea.
Musk founded a company called Zip2. It was a software company that helped news organizations publish their information online. By the time Musk sold it to Compaq, he could count the New York Times and Knight-Ridder as two of his many customers. Compaq bought Zip2 for $307 million in cash and $34 million in additional stock options.
Instead of entering early retirement with his newfound wealth, Musk decided to invest his profits into his next venture, X.com. The site began by offering a number of banking services to customers online, but Musk quickly discovered that its most popular feature was the ability to send money by email. One year later, Musk bought a company called Confinity, which had developed the ability to send money between Palm Pilots. Musk wanted to use that technology for himself.
In 2001, X.com legally changed its name to PayPal and bought the rights to the domain name. Here, Musk focused solely on improving the ability to securely email money. It was slowly becoming a popular online feature of many websites, including eBay. eBay members found it to be a convenient way to pay for their purchases. It was becoming so popular, in fact, that just months after PayPal went public, it was bought out by eBay for $1.5 billion in stock.
Again, Musk could have sat back and enjoyed his earnings, but sitting back was something Musk did not know how to do. In 2002, Musk started up his third company, but this time he was setting his sights on new heights, literally. With little experience in the field, Musk founded Space Exploration Technologies (SpaceX). He is currently both its CEO and CTO, and is overseeing the company’s efforts to manufacture low cost space launch vehicles. He wants governments, universities and businesses alike to use his company to get satellites cheaply into space. In the long term, Musk wants his company to help colonize outer space.
Musk is also taking a role in the fight against global warming. He is the Chairman of both Tesla Motors, which is trying to bring low-cost electric cars to the market, and SolarCity, a company that focuses on photovoltaics.
Many observers see Musk as being all over the map, moving from online electronic payments to putting satellites into space. But Musk sees little difference between the two ventures; both are about starting up a successful business and turning a dream into reality.
Zipping Forward Musk Starts His First Company
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 Lesson #1: Keep Your Operations Lean And Clean
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From PayPal To Planetary Success: How Musk Is Changing The World One Company At A Time
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Lesson #3: Make Your Mission Your Holy Grail
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| “The long term ultimate objective – the holy grail – is we would like to help make life multi-planetary,” says Musk. |
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Zipping Forward: Musk Starts His First Company
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| It was 1995. Musk was getting ready to begin his doctorate at Stanford University, but it was not the academic world that was exciting him. Instead, it was the Internet craze that he found himself surrounded by in S... |
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Lesson #4: Use Innovation To Break Through Your Limitations
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| “We are used to things improving every year; we are used to having a better cell phone next year than this year; a better lap top,” says Musk. “We are even used to some basic things, like we expect more from your ca... |
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Michel NerayMichel Neray has over 25 years of experience as an award-winning copywriter, an Internet pioneer, a tradeshow pitchman and a senior sales and marketing executive. An online pioneer, he was one of the first marketing professionals to embrace the Internet by building websites as early as 1993. In 1994, Michel co-authored a book entitled "The Great Crossover: Personal Confidence in the Age of the Microchip", which made it to Jack Canfield's Achiever's Recommended Reading List. Michel founded Portfolios.com in 1995, the world's first online source directory for creative professionals and one of the first websites based on community generated content. Since creating The Essential Message in 2003, Michel has helped thousands of independent professionals and entrepreneurs as well as growing corporations find a better way to differentiate, position and brand themselves. In 2005, his chapter "Everything Starts With A Conversation" was selected as the lead for the book, "Sales Gurus Speak Out" and re-published in 2008 for 'Awakening The Workplace Volume 3'. He is also a co-author of "In the Company of Leaders" (2008) with 40 top North American leadership experts. - Visit Michel Neray's Website |
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Joe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: http://www.business901.com Web/Blog: http://www.FundingYourNonprofit.com http://www.linkedin.com/in/business901 – Linked In http://www.twitter.com/business901 – Twitter - Visit Joe Dager's Website |
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Bernard ReberBack in late 1992, MS Access hit the streets. About that time the company I managed needed new software to handle their growing client base and I decided to try this new product. I had little difficulty writing and adapting a database to suit us and discovered a hidden talent for programming. A business was born. With business studies and 25 years of management experience in three different countries under my belt, I could offer a unique combination of skills and my customers agreed. From these humble beginnings my software 'invoiceit' emerged in 1999 and has since been taken to 49 states (hello Wyoming, won't you join us?), all across Canada and more than 70 other countries. From the very beginning the program included cashbook accounting, the simplest form of keeping financial business records. The Dictionary.com defines 'cashbook' as "A 'book' in which to record money received and paid out". For 'book' substitute 'simple software' and that's what I'm about. Now I have published Simple Accounting, an inexpensive spreadsheet solution which even you can master. For just $14.95 it costs less than a takeout meal! More at http://www.scrambled-card.com/simple_accounting_main.htm - Visit Bernard Reber's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) Jay Kubassek is a Canadian born entrepreneur, internet marketing genius, professional speaker, international real estate developer/investor, executive film producer, extreme sport enthusiast and a passionate supporter of several charities worldwide. In 2007, Jay's vision and dedication to help other entrepreneurs and business owners duplicate his marketing success led to the creation of his fourth company CarbonCopyPRO, an internet marketing firm already worth over 15 million dollars that has over 20 employees and contract workers with clients is 12 different countries. Jay resides in NYC with his girlfriend Jamie, three year old son Milo and dog Cooper. As executive producer he recently premiered his first film in the 2008 Cannes Film Festival. As an adventurist he is racing the 2008 Baja 1000 off-road race and is a member of the 2008 U.S. National Elephant Polo Team, The New York Blue who will be representing the US in the 2008 World Championships in Nepal. Visit Jay's Blog: www.JayKubassek.com - Visit Jay Kubassek's Website |
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