Zip2 Merger/Sale

Zip2 was going to merge with CitySearch, but Elon, and his brother Kimbal, withdrew their support at the 11th hour.

One of the VC's had to step in to become CEO...which is usually a bad sign (showing the company is in distress/disarray) at a corporate level. This guy pulls off one of the greatest internet-boom era turnarounds to sell Zip2 to Compaq for $307 million, mostly in cash. (Compaq would later sell it off as well, for a handsome profit, within a few months. Then it basically got merged and killed by the corporate bearucracy/shut down unfortunately.)


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