Your Tech Story

Founder

Zillow_logo

Zillow- Online Real Estate Company Founded By The Owner And Former Svp Of Expedia

Leave a Comment / Founder, Tech Story / By

With every latest product coming into the market, the consumers grab the power of choice. The right to information and the freedom to choose are the two main goals every company wants to provide. And, this idea to make people aware of information led to the establishment of Zillow. Founder of Expedia, Richard Barton and the Former Senior Vice President of Expedia, Lloyd Frink developed Zillow. Zillow is an American online real estate company established in Seattle, Washington. It is mainly a database company that generates its revenue by selling advertising on its website. The idea of Zillow and how it came up is really interesting.

About the Founders

Richard Barton is one of the most famous American entrepreneurs. Apart from Expedia, he is mainly known as the founder of Expedia and Glassdoor. Lloyd Frink acquired a degree in economics from Stanford University. He started his career life from working at Microsoft as a Group Program Manager. He worked there for twenty-five years. In 1996, he joined Expedia as SVP and left the company in 2004. After he left the company, a lot of ideas popped up in Richard’s and Lloyd’s mind for the next start-up.

Rich Barton and lloyd frink
Image Source: Google Images

The Next Idea

The thought of building a new business came up when IAC acquired Expedia in 2003. They could have easily started working for some MNCs. But, for them and especially Frink starting a new start-up would have been far more exciting and challenging.

The first idea that came into their mind was what we call today’s cloud storage. A space to store high-resolution photos and it resembled Dropbox. But, they dropped the idea soon. Because they figured out after a point of time companies like Microsoft and Google would provide it for free.

Finally, they came up with Zillow when they needed some market-related information and won’t able to fetch it. Lloyd and Barton thought of creating a database containing such information. That’s why they founded Zillow.

The Hard Work

After Expedia, it was their second start-up. The founders admit that the journey wasn’t a bed of roses but they were certainly relaxed about it. After they were finally decided what to go for, they started doing thorough research and studies.

The idea of opening a website bothered them a little bit. It happened because they did not have enough expertise in the area of brokerage and real estate. But, they figured out opening a website and then learning to connect with people will be more effective. So, they launched the website in early 2006.

Withstanding Recession

It’s really hard for a start-up to be in the game when the global financial crisis hits after a couple of years of establishment. Still, Zillow managed to survive the big catastrophe. When the recession hit the market, Zillow already had 3-4 million users every month. Around 150 employees working at Zillow at that period.

So, at this moment they just needed to take a big decision and kind of sacrifice. They declared the layoff of one-third of the company. It was a hard decision to make but the team stood together and came out of it stronger. Lloyd also mentioned they were kind of in a bad situation due to their fault. The reason he showed was they just hired too many people too soon.

But, today Zillow has emerged out as a company making billions over a year. The company has made a lot of acquisitions since 2011.

Acquisitions

Zillow started off the list with Postlets in April 2011. In December 2011, Zillow acquired Diverse Solutions which was followed by RentJuice in May 2012. The company also acquired Buyfolio, Lincoln, and HotPads in this year. One of the biggest acquisitions of the company was in 2015 when it acquired Dotloop for $108 million.

Zestimate

Zestimate is one of the most interesting products of Zillow. The product mainly determines the value of a home in a neighborhood considering all the available information. So, the value might vary from place to place depending on the kind of information available.

In 2011, the replacement of Zestimate’s calculated algorithm took place. It estimates the values of over a million houses in the country.

Success of Zillow

Instead of many controversial remarks from Wall Street and other lawsuits, Zillow has become successful. According to the statistics of 2016, Zillow served around 140 million active monthly users.

weheart it logo

We Heart It- A Platform For The Social Butterflies To Spread More Love

Leave a Comment / Founder, Tech Story / By

It doesn’t matter if the chicken salad is delicious but it should look tasty. Isn’t it? This is the current status of a social butterfly. From making a DIY lamp to the video of their window shopping, they love to share everything. And, social media gives you a platform to do so. But, how about improvising the concept a little bit and creating something better that touches the heart of millions of people?

Since we all love sharing beautiful pictures all the time, how about an image-based network? Or even better if it is an image-based social network. Fabio Giolito built such a network in 2008 which is still inspiring people and spreading love.

Drop A Heart

The exact idea of what this platform does might be a little blurry. Well, most of us are on famous social platforms like Facebook or Instagram. But, unlike those sites, Weheart It is all about posting pictures and sharing it. It creates a visually dynamic website where images, animated GIFs and videos can be posted.

One can like the picture or rather ‘heart’ it and share and save. The best thing about this social network is one cannot comment on the pictures. This creates a very positive environment within the social community of We Heart It. So, if one doesn’t like a picture he or she can simply scroll down without any criticism.

This helps expand the community as no one feels shy about posting anything on the platform. You simply drop a heart and share away from your favorite photographs.

Fabio Giolito

Fabio Giolito has plenty of experience in the professional world. He had a deep interest in designing from a very young age. And, throughout his career, he was involved as a designer in some biggest companies around the world.

Fabio-Giolito
Image Source: Google Images

Fabio belongs to Brazil. In 2008, he graduated with a bachelor’s degree in Industrial and Product Design from a university in Rio de Janeiro.

In January 2008, Fabio joined Globo.com as a designer. But, before joining this company he already started planning his start-up. On 3rd January 2008, the launching of the mobile app for We Heart It took place. But, he didn’t stop here.

In the same year, Fabio joined I Hate Flash as a designer and a developer and continued for two years. He also became the lead designer of Yahoo and left the company within a year. In 2010, he joined WeDemand as a designer and a developer.

Fabio made another breakthrough in 2009 when he created ListaAmiga. It then became the biggest events platform in Brazil. Currently, he works at Expa as a Designer-In-Residence.

A Small Initiative

The story of We Hears It dates back to 2007 when Fabio was still an undergraduate student. He created the website for himself and there he added a feature to collect pictures he liked. He said it was to help him get more ideas about his designing course.

Eventually, he showed it to some of his classmates and they started using it too. Seeing the great feedback within his campus he decided to launch it as a tool for every social media lover out there. In 2008, two years before the creation of Pinterest, We Heart It launched.

The Growth

When the app was launched, there wasn’t anything to dislike about it. It started growing exponentially as the words spread in every friend’s group. They went to the website, signed up and started sharing photos.

When the app was launched, Fabio wasn’t fully dedicated to this. Because he never started it thinking something big will come out of it. And, once the business started flourishing he needed a helping hand because then he had a full-time job at Yahoo.

He brought Bruno Zanchet in the business and together they landed some funding. So, We Hear It finally became a conventional business with funding in 2011. They established the headquarters in San Francisco, California.

The Success

The business started with just 25 employees. There first big funding was in June 2013 when they raised $8 million from White Oak and IDG Ventures. In the next year, Alexa ranked the company 754 globally. In June 2016, the company came into a partnership with The Blu Market.

Currently, the company is under the acquisition of Super Basic, LLC and it doesn’t operate from San Francisco anymore. But, the platform now has 45 monthly users. It continues to inspire people and serves as a hotspot for creative ideas.

Emersion

John Wesley Emerson and David Nelson Farr- Two gems of Emerson Process Management

Leave a Comment / Founder, Tech Story / By

Industrial sectors all over the world adapting the digitalization and automation processes. In fact, it is the need of the present situation for any business to thrive with advanced technologies. Also, to stand out firm and to continue the success, the industrial approach needs to be modified with changing time. For that, Emerson is the perfect example of such an industry all over the world. Because the company rises as a regional manufacturer and today, it is a powerhouse of global technology solutions.

Emerson, previously known as “Emerson Electric Manufacturing Company” is a pioneer in adapting the altering innovations. Also, by changing the business strategies with changing times, Emerson stands out as powerful as it was over 100 years back. The company is at the highest peak of success with its miscellaneous business segments. Presently, it’s one of the business segments known as Emerson Process Management taking the firm to the next level.

Emerson Process Management

Emerson is one of the successful industries in America as well as all over the world. Today, it’s 8 separate divisions deliver the best services in various fields. Includes, Network power, Motors, Appliance solutions, Industrial automation, Climate technology, Tools, storage solutions and Process Management.

It is best known for its delivery of revolutionary technologies, services, and solutions. Being the pioneer in the unification of technology and engineering. Also, best known for many advancements in the industrial, and commercial solutions. For example, cost-cutting, improvised safety measures, reduction of energy emission, and many more.

Emerson Process Management is an essential part of Emerson for decades. In fact, it is one of the leading companies to grab customers around the world.

The backstory of the Emerson

Two Scottish orphans, Charles and Alexander desired to start a mechanical-electrical production unit. In 1890, they met John W. Emerson who at the end of the meeting became a principal investor for their project. Hence, Emerson’s great contribution resulted in the foundation of “Emerson Electric Manufacturing Company”. It established in late 1890 at St. Louis, Missouri.

Previously, the company was a regional electric motors and fan manufacturer. Which turned as a provider of leading global technology solutions.

John Wesley Emerson- Founder of Emerson

John Wesley Emerson, the lawyer, war commander, and judge who then help in the foundation of the company known as Emerson. Today, the same company is a renowned business firm in America. Let’s discover the journey of J. W. Emerson, a professional lawyer who turns out as Emerson Electric Manufacturing company’s founder, and president.

John Wesley Emerson
Image Source: Google

Early Life

He was born at Pepperell, Massachusetts on 26 July 1832 to the Rosannah Ellen and Willam Emerson. At a young age, he spent most of the time in Pennsylvania. Where he went to Iron City College. Later, he attended the University of Michigan for his graduation in law. William M. Moffatt was his mentor during his law education. After that, he practices and served as a lawyer in Ironton, Missouri.

John as an American War commander

He served for the nation on the battlefield in the 19th Century. John was Volunteer assistance at the Battle of Richmond in 1862. Then he achieved the rank as Colonel and Major. During the last years of service, he served as the war commander of the regiment through the end of the battle.

Later Achievements

After the service in the war, he comes back as a lawyer at Ironton. He also appointed as judge of the 15th Judicial circuit court. John served for the Eastern District, Missouri for the next 4 years. In 1890, he invested the 50000 dollars in an electrical and mechanical start-up of two Scottish persons. These company then named after him as Emerson Electric Manufacturing Company. Also, he worked as the first president of Emerson for two consecutive years.

Later Life

During the last days of life, he became the civil war historian and contributed in writing a history of wars he attended. He rests in peace on 20 June 1899 in Ironton. John W. Emerson belonging to a completely different profession became the founder of a huge industry of the present era. Today, the company aims to deliver the multi-faceted requirements of diverse industries.

Current successes of Emerson Process Management

One of the segments of Emerson i.e., Emerson Process Management provides miscellaneous quality process control products and services. PlantWeb, DeltaV system, and PROVOX system are three main process control services of the company. These systems alter the economics of process automation. Because it delivers dependable control solutions with solid investment returns. Ultimately building the proven paths for future technology.

Recently, Emerson added two IIoT based solutions to PlantWeb to improve the data analytics platform, for the management of wireless network infrastructure in the industry. The company continually growing as one of the biggest manufacturing as well as process management firms in the world. Surely, the renovative ideas and policies of the company’s CEO help the embellishment of the company further. David Nelson Far, the chairman, and CEO of Emerson EMR proved that the longstanding company can be stand out firm, with the strategy advancement and implementation of new technology.

David Nelson Farr – CEO of Emerson

He started his career at Emerson more than 35 years back. Currently, he is the CEO of Emerson Electric Manufacturing company. But before acquiring the post, he served many roles for the company. He was manager of investor relations, corporate planning vice president, President of ridge tool division and served many such roles. His continuous efforts and dedication to the company finally awarded him the position of CEO in 2000.

David Farr
Image Source: Google

Personal Life

David Nelson Farr was born in 1955 in the US. He completed his graduation in Chemistry at Wake Forest University in 1977. After that, he pursued an MBA in 1981 from the Owen Graduate School of Management at Vanderbilt University. In the same year, he started his journey as an intern at Emerson Electric company. After working with the company for a long time he acclaimed the position as CEO.

Achievements

In 2000, Farr was named as one of the top 25 Managers. Also, in 2004 he was on the list of 100 best corporate citizens. He served as a campaign chair for the United Way of Greater St. Louis. Where he contributed to raised the record-breaking amount of 68.8 million dollars to help people of st. Louis.

In 2009, he was also named as one of the best CEOs in America in the electrical equipment and multi-industry. Over 35 years of contribution and leadership of Farr welcomed the best for the company.

Packard bell

Billionaire Beny Alagem’s Computer Company Acquired By Pbx Holding

Leave a Comment / Founder, Tech Story / By

Winners are rarely asked how they did it. It is one perfect and clean strategy that takes a company to the top. In the entrepreneurial world, everything is all about smooth tricks and excellent business deals. The story of Beny Alagem from Packard Bell is among one of them.

Once a company goes public or launches a new product, it makes a thousand competitors. But, at the end of the day, it is for the customers to decide whose products are better than others. The scenario might look simple but it is always not. Confusions, unclear advertisements and the blurred line between distinguishing companies can often play an ace.

Beny Alagem’s computer hardware company, Packard Bell used alike strategies. In 1986, Beny along with Larry Metz founded the company.

The Story Behind the Name

Does the name Packard Bell ring a bell in your mind? You might have been just going in the right direction. The name Packard Bell came from the American radio set manufacturing company, Packard Bell Corporation.

In 1986, Beny along with some Israeli investors bought this company from Teledyne. The main goal behind forming this company was to provide personal computers at an affordable rate.

The company Packard Bell Corporation was actually founded by Herbert A. Bell and Leon S. Packard in 1933.

Beny Alagem

Beny Alagem
Image Source: Google Images

Born into a family in Israel this entrepreneur was a former tank driver. Beny went to California State Polytechnic University, Pomona. He showed a very interest in computers from a young age and it grew once he attended college.

In his university, he met Jason Barziley and Alex Sandal with whom he planned to open a start-up. The plan worked well and in 1983 they established Cal-Abco. It was a company that exclusively dealt with wholesaling computer hardware.

This gave Beny a clear idea about taking the next big step. And in 1986 he founded the big company. Cal-Abco didn’t go out of business then and the two companies came into some kind of business deal. He served as the Chief Executive and the President of the company for twelve long years.

Some disagreements with the other major stakeholders of the company led him to step down from his post. A year after he left the company he was given the right to AST Research name from Samsung. Resigning from Packard Bell paved his way to something bigger and he started serving as the Chairman of Alagem Capital Group. In December 2003, Beny bought Beverly Hilton Hotel for $130 million and since then his name has been popping up in the business magazines regularly.

Bell Packard’s strategy

An idea is all it takes to unleash your power and sit on top of the world. The motive to build low-cost personal computers was certainly a good one. But, the brand name was certainly better. In the 1990s, Bell Packard earned much profit by playing along with the misconception of customers.

Many companies like Pacific Bell and Bell Laboratories were in business at the same time and this created brand confusion. Instead of being concerned about it the company just went with the flow. Well, we have to admit it was a clever trick.

Growth and Expansion

Once the computers hit the market, the consumption grew exponentially. But, the happy phase didn’t last long. In 1995, another computer company, Compaq sued Packard Bell on the grounds of reusing internal computer parts.

In the same year, the company made an acquisition of Zenith Data Systems from Groupe Bull. But, Groupe Bull and NEC, on the other hand, acquired a bigger stake of Packard Bell. It summed up the company’s value to $4.5 billion.

After a point of time, it seemed like the company strived hard to maintain its position. Because suing by Compaq created a bag image for the company and it was well-exposed not being the chameleon anymore.

The Downfall

Compaq acquired the company in 1996. Packard Bell announced that the losses it faced summed up to $1 billion between 1997 and 1998. NEC tried its best to have the back of the company but it finally decided to cease the company’s U.S market.

Not going too far

The company thought to stay in the market by selling computers at cheap prices. But, they needed to use reused parts and when they did so they lost the reputation for its quality.

In October 2016, a company called PBX Holdings acquired the Packard Bell trademark. And in June 2017 JCPenney announced that it would be selling laptops in the name of Packard Bell as a part of their expansion. But, the company didn’t make a breakthrough yet.

Southwest-logo

Southwest Airlines – Flying High Since 1971

Leave a Comment / Founder, Tech Story / By

To build a business career in the airline is a very sensible choice. Anything can go wrong anytime. Well, every business has some of the other risks it takes. But, airline companies need a lot to think through, for example, low fare, high capital investment, high maintenance, etc.

And, speaking of low fare, Southwest Airlines is the world’s largest low-cost carrier. Herb Kelleher established the company in 1967, but the operations finally started in 1971. Initially, the name of the company was Air Southwest Co. On 29th March 1971, Herb and the rest of his team renamed the company to Southwest Airlines Co. with headquarters based on Dallas.

Herb Kelleher

Herb Kelleher served as a lawyer in his early career. Later, he turned out to be one of the billionaires of New Jersey.

Herb Kelleher
Image Source: Google Images

Herb was born on 12th March 1931. Born and brought up in New Jersey, Herb completed his schooling from Haddon Heights High School. He went to Wesleyan University and later to New York University and acquired his law degree from there. After graduating, Herb worked at the New Jersey Supreme Court. But, the job was short-lived.

Herb fled to Texas as he had something bigger in mind. He wanted to start a law firm of his own or start a business. Though the idea of the business was little blurry, he started planning with Rollin King and John Parker. Rollin was a Texas businessman and John was a banker.

After talking about many potential business aspects, the trio finally came up with the idea of airlines. There’s a myth that the founders wrote the plan of Southwest Airlines on a cocktail napkin. But, Herb always declined this.

The take-off

The services of Southwest started from 1971 with two routes: from Dallas Love Field to Houston Intercontinental Airport and from Dallas Love Field to San Antonio. Within a year, the company made it to 100 take-offs each week leaving the Saturdays.

Southwest Airlines have taken ideas and inspiration from what made Pacific Southwest Airlines famous and successful. In 1978, the Airline Deregulation Act enacted and Southwest started planning expansion. The company declared that it would soon start its interstate service to New Orleans.

By the 1980s, Southwest started expanding to many new cities and routes which included Oklahoma City, Cleveland, Denver, Nashville, etc. In 1994, Southwest acquired Morris Air and that began services to Pacific Northwest.

Gaining Momentum

In 1985, the company made a huge acquisition for $60.5 million. It acquired Muse Air and renamed it as TranStar Airlines. During the early 1990s, Southwest had only 650 employees working at the headquarters and it grew twice in number by 2006.

Since the internet was gaining popularity at this time, Southwest planned to reach customers through the web. In 1995, the company created its first website where users could view the schedules, maps and about the company. By this time, Southwest became famous all over the world. The main reasons were low price, effectively combating fuel price fluctuation and strategic ways of making huge profits.

The Uniqueness

In 2008, the company started using the Ecopower water pressure washing system. It cleaned the turbine blades which turned out to improve fuel efficiency by 1.9%. In 2008, Southwest acquired some major assets of ATA Airlines for $7.5 million.

Southwest is also known worldwide for the cultural aspect. The employees are very welcoming which makes customers pay for Southwest’s services all the more. Herb, in one of his interviews, said that people from around the world showed interested to know how Southwest hired employees. From the first round to the kind of training the employees to undergo fascinates and challenges every other airline out there.

The Smooth Landing

In 2011, Southwest completed the acquisition of AirTran Airways. This broadened the area of Southwest’s business thus getting international access to Atlanta. Fortune magazine featured Southwest for ten consecutive years and ranked it 3rd among America’s Top Ten most admired corporations.

In May 2012, the company received permission for carrying out international services from William P. Hobby Airport. In 2014, the company decided to rebrand itself and created a new logo. After a couple of years, the company was granted approval for its services to Cuba. This became a great deal for Southwest as USDOT chose it as the sixth ever airline to initiate services in Cuba.

From 100 departures a week the company now commences 4000 departures every single day. According to 2018, the company’s annual revenue summed up to $21.965 billion. Southwest is planning to expand its services to Hilo in 2020.

Mastercard Logo

Ajaypal Banga: Mastermind Behind The Mega Success of MasterCard

Leave a Comment / Founder, Tech Story / By

Knowing about successful professionals is always inspiring. There are people in leadership and management niche who have created a path that is a dream of many to follow. One of such outstanding, talented professionals is Ajaypal Singh Banaga – The President and MasterCard CEO.

As a person, Ajaypal Banga is a gem but his life story is tremendously inspiring. Let’s know more about his success story.

Personal life of Ajaypal Banga

Ajaypal is born in 1960 in a small town near Pune, Khadki, where his father was working. Banga originally was from Jalandhar (Punjab). His father retired Lt. General, Harbhajan Singh was an army person. Thus, he got the chance to study all over India. He has been in schools in Secunderabad, Jalandhar, Delhi, Hyderabad, and Shimla.

Mastercard CEO- Ajaypal Banga
Image Source: Google

Ajaypal had no interest in an army career. Therefore, he preferred to study Economics. He went to St. Stephen’s College, Delhi University. Later, he completed his MBA from the IIM, Ahmedabad.

In fact, his entire educational journey was completed solely in India. He proved that you need not have to have degrees from other countries to climb the ladders of success.

Career

Ajaypal Banga began his career with Nestle India in 1891. He involved as a management trainee and resided in the company for 13 years. Doing different assignments including sales, marketing, and general management.

After Nestle, he joined PepsiCo’s Restaurants Division. Where he contributed significantly to the launch of Pizza Hut and KFC in India. Due to the lessening of government regulations related to the economy.

Earlier Achievements in Career

His career journey spanned many positions. In 1996, he was the head of marketing in India for the consumer business in Citicorp. In 2000 he served as head of CitiFinancial and the U.S. consumer assets division. In the next two years, in 2002 he became President of a retail bank in North America. Also, he was the head of Citigroup’s international consumer-banking and finance businesses.

In 2008, he moved to Hong Kong. Where he oversees all the bank businesses in Asia including credit cards and consumer banking, alternative investments, etc. He joined MasterCard in the US in 2009. In 2010, he took over as a Mastercard’s CEO.

Innovative Mastercard Journey

After joining Mastercard, one of his best clients helped him finding ways to encourage a number of youths to use debit cards. For that, he redesigned the debit card product with a bunch of features. For example, connecting it to the music. After so many trials, he fashioned a creative branding tactic with the Commonwealth Bank of Australia. This marketing method turned out to be a game-changer.

Challenge accepted

At that time, the areas of high-tech innovation, altering driving e-commerce, mobile and transit fares were challenging a bit. The other challenge was a group of young people in MasterCard Labs.

These creative people were honing new ideas and were trying to implant them for their clients. One such idea was scanning a bar code to make a purchase. He considered all the factors and his policies welcomed the best for Mastercard’s growth.

Prestigious Memberships

He showcased the best management skills at Mastercard. At that time, Ajaypal was also a part of a few prestigious associations-

  • The Economic Club of New York and a member of the Council on Foreign Relations.
  • President’s Advisory Committee for Trade policy and negotiations (Barack Obama appointed him)
  • Foreign Policy Association
  • Financial Services Roundtable
  • Business Roundtable – Chairman, Information and Technology Initiative.

Later Successes…

He also served as the boards of trustees of Enterprise Community Partners, Inc., and as a director of the Council for Economic Education. ‘The Economic Times of India’, awarded him as the fourth “Most Powerful Indian” in the world. It was the resultant of his keen interest and constant involvement in social issues. He received Padma Shri in 2016.

With Banga’s leadership, Mastercard has achieved various pinnacles. Presently, it is definitely one of the dream companies people aspire to be a part of.