Are you paying yourself enough? When you're the boss, figuring out the right amount to pay yourself can be tricky. There are tax implications and legal issues to consider, not to mention the question of how much money you need to live comfortably. Thankfully, the OPEN Forum blog has asked attorney Barbara Weltman explain the ins-and-outs of executive compensation, including some of the things the IRS keeps a watchful eye on. Inc. columnist Norm Brodsky has some very definite thoughts on this subject. His advice? Never work for chump change.
iPad excitement reaches a fever pitch. It may not be a revolutionary product--after all, it's just a big iPhone--but that hasn't stopped the blogosphere from getting caught up in a frenzy over the launch of the iPad, which hits stores Saturday. TechCrunch has a guest post by Salesforce.com CEO Marc Benioff, who is positively giddy about the new device. "The future of our industry now looks totally different than the past," he writes. "It looks like a sheet of paper, and it's called the iPad. It's not about typing or clicking; it's about touching. It's not about text, or even animation, it's about video. It's not about a local disk, or even a desktop, it's about the cloud...Finally the industry is fun again." Meanwhile, Apple is planning to release two new iPhones this year, including one that will work on Verizon Wireless's network, according to the Wall Street Journal. For more on how to make money by selling apps for both gadgets, check out this story.
Foursquare still going strong. Inc.com blogger Howard Greenstein recently wrote that Foursquare and other location-based services dominated this year's SXSW Interactive Festival. Now it seems that the social network received a big boost from the event. Mashable reports that the company has attracted nearly 725,000 users, which means that it grew by 100,000 people in just two weeks. Foursquare also revealed that it has reached a total of 22 million check-ins. "While that's not the same as Twitter's 50 million tweets per day," the post says, "It's an impressive number for a company that is barely a year old."
Ex-Facebook employees said to get $86 million valuation for start-up. It must be nice to have the Facebook name on your resume. TechCrunch is reporting that Quora, a start-up co-founded by former Facebook CTO Adam D'Angelo, raised $11 million in venture capital despite having released its product just three months ago. TechCrunch says that investors valued the company, which offers "a continually improving collection of questions and answers," at $86 million. "The way we think about this is there's actually a lot of information that's still in people's heads that's not on the internet," the founders told Michael Arrington. "So we're trying to get that information out of people's heads, so it's not on sources that are hard to access on the internet, and get it into a really useful format to make a valuable database."
What types of ads work best on social networks? In order to figure out which type of ads, and which platforms, work best on social networking sites, Psychster and Allrecipes tested 7 different types of ads on Facebook and Allrecipes, including banner ads, newsletter subscription ads, corporate profiles with fans and logos, widgets, and sponsored content. Mashable has the results. The study found that sponsored content garnered the most user interaction, but the lowest level of purchase intent. Results also showed that business profiles are most effective when users can become fans of the profile and add a logo to their page. For more advice on how to build a better Facebook ad, check out these tips from our February issue.
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