Didja see Bush smile? Ex Prez Bush smiled when he ducked and avoided - successfully I might add - the shoes flung at him. Hurled, thrown, lobbed - what does it matter? He had fun, and it was diplomacy at the simplest, most basic level: two kids playing, happily. (-Don’t believe [...]
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OPEN SV Tweets follow me on Twitter To learn about the event visit http://opensiliconvalley.org. addthis_url = 'http%3A%2F%2Fwww.wadiwallah.com%2Fblog%2F2009%2F03%2F12%2Fopen-sv-cleantech-event-tweets-march-12-2009%2F'; addthis_title = 'OPEN+SV%3A+Cleantech+Event+Tweets+--+March+12%2C+2009'; addthis_pub = '';
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The ability to develop something incredible is not more important than the ability to create well. What Microsoft has created, in the beautiful masterpiece that is VistaX32, is unfortunately not the stable giant that is Vista ^$bit. That’s a Freudian slip, for Vista 64Bit, the full-processor-heating version of today’s Windows OS that runs on advanced, [...]
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It was slow, though a deep thought provoking film. It’s a portrayal of a people of an ancient rich culture and heritage grappling with modernity in the wake of a post colonial era . On the surface iof things it appears like there was utter mayhem. However, their is order within that madness. There is [...]
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Padmasree Warrior, CTO of Cisco and Vivek Kundra, CTO of the District of Columbia city government are among two potential candidates who could be chosen as the nations’ first Chief Technology Officer. It is rumored that Padmasree has a better chance of being nominated. Here is a short interview by Andy Plesse while at AlwaysOn [...]
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It give me great pleasure to announce the launch of Twestival SIlicon Valley. We have less than a week to go until February 12th. I’d like to request support from all Silicon Valley denizens. Twestival is a global all volunteer run effort. If you’re interested sponsoring or supporting this effort please ping me on twitter [...]
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The promise of a better tomorrow starts with the possibility of changing our today. Together we have just made a significant change in the today that we have awoken to. I too have made calls for this election, yet I know so many who volunteered in person, on the ground, in sweaty phone-banks, [...]
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It’s been a long road, getting from there to here. It’s been a long time, but my time is finally near.� And I can feel the change in the wind right now. Nothing’s in my way.� And they’re not gonna hold me down no more, no they’re not gonna hold me down. Cause I’ve got faith of the heart. I’m [...]
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Join the cause in promoting Peace, Prosperity, Harmony, Progress in South Asia. Become a fan of PEACE at http://tinyurl.com/sapeace. Join South Asians for Peace - A coalition of concerned Pakistanis and Indians. Cross-posting to Siliconstani  addthis_url = 'http%3A%2F%2Fwww.wadiwallah.com%2Fblog%2F2008%2F12%2F12%2Fsouth-asians-for-peace-become-a-fan-of-peace%2F'; addthis_title = 'South+Asians+for+Peace%3B+Become+a+fan+of+PEACE.'; addthis_pub = '';
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As part of his policy platform, President-Elect Barack Hussein Obama has stated that he plans to hire the nation’s first chief technology officer (CTO) to help in drive his Technology agenda.The new National CTO position will be responsible for: Building a 21st century technology infrastructure Unite and lead the CIOs and CTOs of various federal agencies Architect [...]
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Analyst firm Next Up Research has published an extensive report on Linden Lab, the San Francisco company behind virtual world Second Life. The research is based on aggregate data and is available on SharesPost, a site set up to trade shares of privately held companies (if you register, you can download the report for free from that page, or you can find other valuation reports on companies like Facebook and LinkedIn). The report goes rather deep into the valuation of the Linden Lab, which it pegs at somewhere between $658 million and 700 million.

More on that later.

Now that Linden Lab has been around for nearly 10 years, and with its product Second Life celebrating its sixth birthday since launching publicly in June 2003, we thought it would be a good idea to take a close look at the report and see how the company’s doing according to the analysts.

First of all, you may be wondering if anyone is still using Second Life at all. The answer is yes, and users are very active on there. During the past 30 days, one million users logged in, according to Second Life’s own statistics. In average time spent per user per week, Second Life in fact trounces all other MMORPGs, including World of Warcraft and Civilization IV. In another testament to the service’s apparent stickiness, the number of hours users spend on Second Life has been increasing steadily and is currently at historic highs, totaling approximately 124 million hours in the first quarter of this year.

More importantly, Next Up says in-world transactions have recovered after a significant drop in September 2007 - when gambling was banned in the virtual world - and has been steadily increasing ever since December 2007.

Which brings us to the valuation, or at least the estimated value Next Up claims Linden Lab is worth after running a couple of calculations. Using publicly-traded online gaming companies as a proxy, Next Up pegs the median enterprise value (EV)/ Revenue multiple for that group at 7.2x off of 2009 revenues. Subsequently applying this self-proclaimed “conservative” multiple of 7x to the estimated revenue of Linden Lab ($100 million for this year), the current target valuation amounts up to $700 million.

That seems like a stretch. In November 2007, the last time we asked ourselves how much Second Life is worth, we came out somewhere between $500 million and $1 billion. The current estimated enterprise value calculated by Next Up falls pretty much right into the middle of that range.

Next Up defends the 7x multiple variable by referring to a two-year-old M&A deal. When Disney acquired Club Penguin for $350 million in cash back in August 2007, it paid out at least a comparable multiple based on Vlub PEnguin’s projected revenue for the year (between $50 and $65 million), despite the fact that it reaches a narrower demographic profile. But things have changed since then: stocks have tanked, valuations have dropped, the IPO market has pretty much dried up and VC-backed liquidity is at a record low. So that implies a major discount, with a valuation between $300 million to $500 million, which is decent but not spectacular, assuming Next Up’s revenue projection is accurate.

Here’s what else Next Up says could have a negative impact on Second Life’s valuation:

- the aging population of its main target markets (U.S. and Europe) and less of a presence in developing nations where its main target audience (people from 13 to 45) is quickly gaining in size.
- limited amount of premium subscriptions (about 1% or 170,000 users)
- possible taxation on virtual monetary transactions in a variety of countries
- cost and complexity of running the technical infrastructure behind the virtual world

If you’re interested in the virtual worlds or Linden Lab in particular, there’s a ton of information and speculation about the market to be found in the report, even if we focus mostly on the financial side of things. To conclude, here are two charts from the report, one on the estimated valuations based off of different calendar years and one on the post-money valuations after the various funding rounds raised by the company.

Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily.

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Google received some unfortunate news today, with the U.S. Department of Justice formally announcing the investigation of the $125 million settlement Google made with the Author’s Guild to pay authors a nominal fee for copyrighted works it has scanned and made available on the Web. The settlement has drawn its fair share of critics, including Jeff Bezos. But Google keeps on plugging away, making its book search better and better.

For instance, Google Books recently launched a plethora of new and innovative features to make the product easier for consumers to use, such as embeddable previews and better in-book search. Today, it added one more useful feature relating to search: a visual cue on the right margin showing the pages throughout a book where a search term appears.

When you search within a book, a page appears in a window, with a scrollbar on the right. Little rectangles will appear in the margin beside the scrollbar to show you where your results are located. When your mouse hovers over one of the rectangles indicating where a search term can be found in the book, you’ll get a preview of the search results and the option of jumping directly to that respective page by clicking on the rectangle.

With the previous search function, it wasn’t as easy to find the exact location of the results in a book. With this simple tweak, Google has improved the visual display of search functions, helping users navigate results in a more organized and efficient way. The DOJ will probably hold that against it.

Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily.

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When I first signed up for GrandCentral a few years ago, I lived in a different city. As such, I had a different area code. And that was fine until I moved and Google, which bought GrandCentral in 2007 and subsequently put it on lockdown, prohibited me from changing it. I didn’t think much of it until my GrandCentral account magically transformed into a Google Voice account a few months ago, taking a good service and making it excellent. Unfortunately, I was still stuck with my old number. But now, there’s an option to change it.

The “Change your number” functionality, as spotted today by Boy Genius Report, is great news for users like me. Unfortunately, it will cost you to change it. There’s a one-time $10 fee, which in my mind is well worth it. Best of all, Google Voice will activate your new number right away and still keep your old one active and forwarding to the new one for three months.

What’s also nice is that in picking your new number, you can search by area code and by a word that you want your number to contain. So for example if I search for area code 408 and the word “tuna,” I can get a 408 number that ends in 8862 (”T-U-N-A” on a keypad).

Here are the details:

There is a $10 one-time fee to change your Google Voice number. Here is how it works:

• Pick a new number in the area codes we have.
• Pay $10 with Google Checkout, using your credit card.
• Your new number becomes active right away.
• Calls to your old number will keep coming to your Google Voice account for three months, so you have time to tell everyone about your new number.

We’re still waiting on number portability (the ability to use your existing numbers as Google Voice numbers), but this is a nice start.

Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily.

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Since the debut of the App Store last summer, my iPhone has become an indispensable part of my workout routine. The phone makes it easy to track your workout progress both in the gym and outdoors, where applications like RunKeeper allow you to use the phone’s integrated GPS to plot your bike or running course on a map. But there’s been one annoyance that’s aggravated me (and many others) to no end: the limited control you have over your music once you’ve launched one of these fitness apps. Fortunately the iPhone 3.0 software update finally fixes this, and a RunKeeper-like application called Fitnio(iTunes Link) has managed to beat some of its more well-known competitors to the punch.

Until the release of the iPhone 3.0 software update, developers were unable to access the phone’s music library. In order to play music as you ran, you’d have to first open up the phone’s iPod application, pick a playlist, then switch over to the excercise app. Once there, you could use your headphone’s multifunction button to execute some basic commands (next song, pause, and previous song), but if you wanted to switch playlists you were out of luck.

Fitnio breaks down this barrier, allowing you to browse through your iTunes playlists and queue one up for the next time you begin a jog. It may not sound like a big deal, but it’s certainly a very welcome change. Unfortunately there’s still no way to jump to a specific album or artist’s songs, but developer Robby Walker says that those will be coming in the future.

Fitnio is a pretty barebones app, without the nice visualizations you’ll see on RunKeeper (it also doesn’t have voice overs announcing your progress, which some people may miss). But it gets the job done, tracking your movements while biking or running using the phone’s integrated GPS, and it’s only a fifth of the price of RunKeeper’s Pro app, coming in at $1.99.

Of course, Fitnio’s musical advantage over the competition will likely be short-lived. Given that all developers have access to the new features in the iPhone 3.0 software update, you can expect similar apps to include this feature very soon. That said, if you’re looking for a fix right now, Fitnio is worth checking out.

Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0

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After months of dismal unemployment numbers, this morning’s continued growth in the unemployment rate from 9.4% in May to 9.5% for the month of June reinforces the fact that the U.S. is still very much in the midst of recession. Additionally, the U.S. Department of Labor reported today that employers cut 467,000 jobs in June, compared to 322,000 jobs in May. Unfortunately, the tech industry is still feeling the heat of the recession, with the rate of available jobs not improving much from the past few months, according to technology jobs site Dice.com.

Tom Silver, senior vice president of Dice.com, told us this morning that Dice.com is reporting a 44% year-over-year drop in job listings for the month of June. May’s year-over-year decline hovered around 45%. And Silver also points to a rise in the Department of Labor’s unemployment rate for the “Computer and Mathematics sector,” (the area best associated with the tech sector). June’s unemployment rate for the tech sector almost tripled year-over year, from 1.9% in June of 2008, to 5.4% in June of 2009. While Silver says that the tech job market is certainly better than during the fourth quarter of 2008 and the first quarter of 2009, the number of job opportunities have remained stagnant over the course of the past few months.

According to the TechCrunch layoff tracker, layoffs in the tech sector may be slowing down, which we reported in May. Layoffs are still taking place—the tracker has increased by 10,000 lost jobs over the past two months to a total of 340,000 individual layoffs. But there is a marked difference in the pace of layoffs from late 2008 and the first quarter of 2009, when layoffs were increasing by 100,000 every few weeks For instance, it only took three weeks for cumulative tech layoffs to go from 200,000 to 300,000 in February and five weeks for layoffs to go from 100,000 to the 200,000 mark before that in January.

Though companies are cutting back and limiting hiring for the near future, Silver says that there are still certain jobs within the tech sector that are in demand. Developers who are skilled in the areas of virtualization and IT security are among those in high-demand. And Silver maintains that tech companies are always in need of talented and skilled programmers. But for all the marketing and business development folks out there, demand usually picks up in line with the economy.

You can check out CrunchBoard for tech job listings.

Photo Credit: Flickr/Lisa Brewster

Crunch Network: CrunchBase the free database of technology companies, people, and investors

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