SAN FRANCISCO—At times like Facebook Inc.'s initial public offering, hindsight in Silicon Valley is 20/20.Everybody knows the story of Harvard whiz-kid Mark Zuckerberg, who wanted to change the Internet and made billions. Facebook CEO Mark Zuckerberg addresses employees before ringing the Nasdaq bell ahead of Facebook's IPO on Friday. Video: Facebook. Less often told is the story of former carpet salesman Pejman Nozad. In 2005, Facebook founding President Sean Parker approached him about renting 165 University Avenue in Palo Alto, Calif., a property owned by Mr. Nozad's partners. The deal came with a chance to buy $50,000 of stock in the fledgling social network—but with strings attached to the lease. Mr. Nozad's partners said no. "We put on our real-estate hat, rather than our investment ... Continue reading →
In a promotional trailer for ABC's coming drama "666 Park Avenue" set in a Manhattan apartment building, walls swallow people, bright red blood swirls down a sink drain and at one point a terrified looking woman who has just moved in asks her boyfriend: "Are we going to be ok here?" That's a question TV executives may be asking themselves after broadcast networks unveiled a total of about a half dozen similarly dark-tinged dramas last week at the annual TV "upfront" sales presentations for advertisers. Such shows have thrived on cable channels like AMC and FX lately (think "The Walking Dead"). But there is no guarantee the mass audiences that tune into broadcast networks—or their advertisers—will be as enthusiastic. "There is a huge risk in ... Continue reading →
General Motors Co. has decided it won't advertise in the next Super Bowl, a surprising reversal of strategy that comes as the auto maker overhauls its global marketing operations.Super Bowl advertising is effective but has become too expensive to justify the cost, GM's global marketing chief, Joel Ewanick, said in an interview. Buyers say ads for next year's National Football League championship game—which is being broadcast by CBS—are so far selling for about $3.8 million for a 30-second spot. It's an unexpected move for Mr. Ewanick, who has long been a big believer in the value of Super Bowl spots. GM also said this week it would stop paying for advertising on Facebook, and instead rely on the site's free content, because it felt paid ... Continue reading →
General Motors Co. has decided it won't advertise in the next Super Bowl, a surprising reversal of strategy that comes as the auto maker overhauls its global marketing operations.Super Bowl advertising is effective but has become too expensive to justify the cost, GM's global marketing chief, Joel Ewanick, said in an interview. Buyers say ads for next year's National Football League championship game—which is being broadcast by CBS—are so far selling for about $3.8 million for a 30-second spot. It's an unexpected move for Mr. Ewanick, who has long been a big believer in the value of Super Bowl spots. GM also said this week it would stop paying for advertising on Facebook, and instead rely on the site's free content, because it felt paid ... Continue reading →
