Abstract
Whilst at Cornell University, Stephan Paternot and Todd Krizelmann, two young students, had used a chat service on the university computer network. They decided to build their own chat service that would run on the Web. theGlobe.com went live in 1995 and attracted over 40,000 users within its first month. In 1997 they raised $20 million in venture capital – they were still both only 23 years old. At the end of 1998 theGlobe.com had its initial public offering (IPO). The company had never made a profit; indeed it’s not clear if it had ever earned any money at all. The initial stock soared a record-breaking 606% in its first day of trading – Paternot and Krizelmann were now each worth $100 million!
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
12.4 billion indexed web pages on Nov 2 2011 http://www.worldwidewebsize.com
- 2.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2012 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Watson, I. (2012). Dotcom. In: The Universal Machine. Copernicus, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-28102-0_9
Download citation
DOI: https://doi.org/10.1007/978-3-642-28102-0_9
Publisher Name: Copernicus, Berlin, Heidelberg
Print ISBN: 978-3-642-28101-3
Online ISBN: 978-3-642-28102-0
eBook Packages: Computer ScienceComputer Science (R0)