Discussion Forums > Technology
$32 million Crowd Funding for Android/Ubuntu phone
Gh0st93:
--- Quote from: kitamesume on August 13, 2013, 06:18:13 PM ---
--- Quote from: Gh0st93 on August 13, 2013, 06:15:01 PM ---I'm not really sure how much meas left on the bone after the initial price cut I mean these people aren't doing this for free they gotta feed there families too... :-\
Yes I know it's a lot but they needed a lot for it to be viable.( I don't think there trying to get crazy rich off of this.)
--- End quote ---
check their business, then tell me they aren't making money.
--- End quote ---
Ubuntu?
kitamesume:
no... shuttleworth's Canonical.
edit: or just look up where shuttleworth's millions of dollars goes.
Gh0st93:
--- Quote from: kitamesume on August 13, 2013, 06:19:25 PM ---no... shuttleworth's Canonical.
edit: or just look up where shuttleworth's millions of dollars goes.
--- End quote ---
Canonical Ltd. had a $30 million revenue in 2009 with over 500 employees at best they would make $60,000 a year with zero going into anything else except there pay, Now Shuttleworth has a net worth of around $500 million But he got that through investments, and other revenue streams not Canonical.
(click to show/hide)Mark Shuttleworth net worth: South African entrepreneur, Mark Shuttleworth, has an estimated net worth $500 million as of 2012. At the age of 22 Shuttleworth founded Thawte, a digital certificate and internet security company which he sold to VeriSign for $575 million in 1999, when he was 26. He used a fraction of his wealth to start HBD Capital (now called Knife Capital), a Cape Town-based emerging markets investment fund. HBD has made a series of successful exits including Fundamo, a mobile financial services company which was acquired by Visa for $110 million in 2011; and csense, which was acquired by GE Intelligent Platforms the same year. Shuttleworth also founded and funds Ubuntu, a computer operating system which he distributes as free open source software.
kitamesume:
so? he still has over $100million to spare, i doubt $32M is too much for him to fund.
he even spent $20M just to ride a spaceship, lol.
Gh0st93:
--- Quote from: kitamesume on August 13, 2013, 06:29:56 PM ---so? he still has over $100million to spare, i doubt $32M is too much for him to fund.
he even spent $20M just to ride a spaceship, lol.
--- End quote ---
These people aren't just giving him $700 dollars there buying a product (granted it may not quite to the quantity at the moment they bought one none the less.) Sure he could make the phone I guess but would you risk $32million in hopes of maybe people will buy it and that would make him just break even not to mention any form of profit. It's kind of like "put your money where your mouth is".
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