There are many mistakes done by some tech companies in the tech history that costs them billion of dollars. Meanwhile, can you personally carryout a task that will cost you billions of dollars? No, of course.
However, the two mistakes are in these categories: whereby a tech company acquires another company and the result falls back, and another reason is where tech companies allows opportunities that will fetch them billions of dollars slide away.
The mistake also led some of them to lost their job. Moreover, let's see the mind blowing mistakes in the tech world that cost billions of dollars.
1. The $93 billion dollar mistake by Ronald G. Wayne
Ronald Wayne - Apple's third co-founder, is the biggest loser in modern history. He founded Apple together with Steve Jobs and Steve Wozniak. He later sold his share of the company to Steve Jobs and Steve Wozniak at $800 and accepted $1,500 to forfeit any claim against Apple. Today, Apple is the biggest company in the world with over $900 billion net worth. If he has kept his 10% shares in the company, he would have been worth well more than $93 billion.
2. AOL and Time Warner Merger: Cost about $200 Billion
AOL and Time Warner company merger but at the time of this deal, AOL worth over $200 billion but after the deal and merger, AOL worth just $2 billion. Isn't that huge mistake? Yes, of course. All the rest of the money has blown away and luckily, Verizon has decided to acquire the company for just $4.4 billion dollars and people think AOL doesn't worth the money.
3. IBM giving Microsoft software monopoly
When IBM was manufacturing their computer, they were thinking that the money is in the hardware and not the software. They failed to look at the future. So, IBM asked Microsoft to build an OS for them and Microsoft cleverly asked them to keep the right to the OS and IBM agreed. Microsoft kept the right to the OS and licensed the software to other PC makers. Today, Microsoft worth over $560 billion dollars, while Bill Gates worth over $90 billion.
4. Yahoo's Failure to buy Google
Back then, Google tried to sell itself to Yahoo many times, when Yahoo was the trending best tech player in the world and most people thought search engines were not important. But today, Yahoo worth $33 billion while Google's value keeps skyrocketing. Presently, which of company would want to sell itself, if is not Yahoo.
5. Yahoo's Failure to buy Facebook
Yahoo has been making mistakes for long and for over 10 years now. Terry Semel - Yahoo's CEO, and Mark Zuckerberg - Facebook CEO, shook hand for $1 billion for the transaction but rumours has it that Facebook raised its price at the last minute causing Yahoo to back off. However, Facebook is now the most important and biggest tech company on earth.
6. Google buying Dodgeball
Google actually acquire Dodgeball app at a whopping $1 billion dollar but they silently shut it down. The reason for the shutdown wasn't revealed and can be guessed that Google has a lot of money to spend. So, they have the right to do whatever they like.
7. Google buying Jaiku
Google spent a whooping $2 billion dollars to acquire Jaiku, which was a micro blogging website that is faster than Twitter. The reason for the acquisition was to compete with twitter but suddenly, Google shut down the site.
8. Microsoft Phone Deal with Nokia
When Microsoft enters a deal with Nokia in 2014, in a way to strengthen the company. Unfortunately, the deal got the both companies weaker and renders thousands of workers jobless. Microsoft lost its value, money and influence in the mobile phone industry, while Nokia lost their top place as the biggest phone giant and they failed to go to the Android way. However, Nokia is back with new owners and it's warming up.
9. Yahoo buying Broadcast.com for $5.7 billion
Broadcast.com was like YouTube that time, it's the top streaming site. Yahoo acquired the site for $5.7 billion but later fires back. This happened because there were no wireless 3G or 4G networks for even the US people to stream videos online.
10. Kodak turning down the idea of a digital camera
In 1975, Kodak would have been the first company to launch a digital camera but when their engineer brought the concept, they laughed at it. In 2012, the company go bankruptcy after failing to go digital. Lack of innovation and failure to adapt to modern trends killed the company. Today, Canon and Nikon are making billions of dollars in sales.
What do you have to say about those mistakes?
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