Today in Tech: Just how much is Yahoo's new CEO making, exactly?July 20, 2012: 12:27 PM ET
Also: Marissa Mayer's memo to Yahoo employees. And is popular crowd-funding startup Kickstarter in the business of 'selling dreams'?
Yahoo revealed in a regulatory filing that it could be paying its new CEO Marissa Mayer a total of close to $60 million to turn the company around. The mega-sum includes salary, equity grants, stock options, a make-whole payment for the Google shares she left behind and, perhaps most remarkably, a $30 million one-time retention award. The amount, which is a whole lot more than what the last two Yahoo CEOs — Carol Bartz and Scott Thompson — were paid is, um, rather large.
The company has been through a lot of change in the past few months, leaving many open questions around strategy and how to move forward. I am sensitive to this. While I have some ideas, I need to develop a more informed perspective before making strategy or direction changes. In the meantime, please do not stop. You are doing important work. Please don't stop.
Is kickstarter selling dreams? [REUTERS]
And so it seems to me that Kickstarter is in some ways much like QVC was when it launched: a state-of-the-art sales and marketing platform. It's highly social: Jeanne Pi has determined that your chances of raising $10,000 on Kickstarter are just 9% if you have 10 Facebook friends, rising to 20% if you have 100 friends, and 40% if you have 1,000 friends. And it's done a very good job of walking the fine line between do-gooding, on the one hand (charity campaigns are specifically banned), and overt commercialism, on the other.
Kayak, which first filed to go public in November 2010, is the first U.S. consumer Internet company to go public since Facebook Inc. (FB)'s troubled IPO in May. Norwalk, Connecticut-based Kayak delayed its roadshow after Facebook shares tumbled and is testing investor appetite for Web stocks now that the social- networking company has regained some of its losses.
Cameras act as 'Black Boxes' when cars and cyclists collide [THE NEW YORK TIMES]
Cyclists have long had a rocky co-existence with motorists and pedestrians, who often criticize bike riders for a confrontational attitude, and for blowing through stop signs or otherwise exempting themselves from the rules of the road. Now small cameras — the cycling equivalent of the black box on an airplane — are becoming an intermediary in the relationship, providing high-tech evidence in what is sometimes an ugly contest between people who ride the roads on two wheels and those who use four.
The loss comes due to a $6.2 billion write-down for one of its acquisitions in early July and a deferral of $540 million of revenue related to the Windows Upgrade Offer. But with strong operating profits, the software giant still beat analyst expectations after adjusting for the one-time hits. Adjusted earnings came in at 73 cents per share on revenue of $18.6 billion. Wall Street observers were expecting an average EPS of 62 cents on $18.13 billion in revenue.