Assignment - Week 7 - Can Canadians Make Money on the Web

Assignment - Week 7 - Can Canadians Make Money on the Web -...

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Everyone acknowledges that use of the Internet, the World Wide Web, and Web 2.0 technologies is rapidly increasing. Sales on eBay continue to increase by double digits every year while global online sales are expected to grow to $ 9 trillion. With 60 percent of Canadian households having high- speed Internet access, Canadian online sales are also growing. But the question is: Can Canadians make money on the Web? Can a Canadian start a successful business on the Web? We will profile several online entrepreneurs and discuss whether or not they are being successful and why. Perhaps one of the students who is using this textbook is the next Pierre Omidyar, founder of eBay, or Ali de Bold, founder of ChickAdvisor. Torontonian Stuart Macdonald ran Marketing at Signature Vacations and subsequently started up and made successful Expedia. ca in Canada and was a senior vice president of Expedia. com. He then started TripHarbor. com and TripHarbour. ca, sister Web sites to help vacationers plan cruises and connect in a community of cruise lovers. He is also Chairman of the Canadian Internet Registration Authority and co- founder of Mesh, Canadian’s leading Web conference. Like many entrepreneurs, Stuart sees opportunities and takes risks on starting up not just one business, but several different businesses over time. Today Stuart spends his time investing independently and advising other entrepreneurs. Three residents of Kelowna— Lance Priebe, Lane Merrifield, and David Krysko— saw the need for a social net-working community for kids. They started Club Penguin in 2005. In 2007, after only two years in business, they sold the business to Disney for $ 350 million— not a bad payday for only two years of work. At the time of the sale to Disney, Club Penguin had 12 million users, 700 000 of whom were paid subscribers, and annual revenues of $ 40 million. Disney continues the Club Penguin operation out of Kelowna with Web sites in several other countries and offices in England, Australia, and Brazil as well. In 2009, Club Penguin opened a Francophone site for French- speaking kids in both Canada and Europe ( and presumably else-where). Ten years after receiving a degree from the University of Toronto and an MBA from Stanford University, Montreal native Jeff Skoll met Pierre Omidyar, who hired Skoll as eBay’s first full- time employee and president of the Internet company. He is still the company’s second- largest share-holder. Skoll is now producing movies, including recent films North Country and Syriana ( which won several Oscars). Still another successful Canadian Internet entrepreneur is Albert Lai, who founded mydesktop. com and bubble-share. com. Lai was a teenager when he founded his first venture and sold it for more than $ 1 million. Lai has a men-tor, Marty Keast, who works with him on some of the busi- ness angles, but it is Lai who runs the show. He sold his is Lai who runs the show. He sold his most recent, photo networking site BubbleShare, in January 2007, to Kaboose Inc. for US$ 2.25
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Assignment - Week 7 - Can Canadians Make Money on the Web -...

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