Fortune 500 – How To Make Money Online https://www.incomediary.com Learn exactly how the pros make money online and how they are able to live a life of financial freedom from passive income. Mon, 05 Mar 2018 16:18:47 +0000 en-US hourly 1 https://wordpress.org/?v=4.8.5 Learn exactly how the pros make money online and how they are able to live a life of financial freedom from passive income. Fortune 500 – How To Make Money Online Learn exactly how the pros make money online and how they are able to live a life of financial freedom from passive income. Fortune 500 – How To Make Money Online https://www.incomediary.com/wp-content/plugins/powerpress/rss_default.jpg https://www.incomediary.com The 100 Richest Internet Entrepreneurs https://www.incomediary.com/rich-list Tue, 24 Oct 2017 17:26:11 +0000 https://www.incomediary.com/?p=1924553 Find out which entrepreneurs have made the most money from their internet businesses with the all-new IncomeDiary rich list!

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Find out which entrepreneurs have made the most money from their internet businesses with the all-new IncomeDiary rich list!

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15 Business Lessons from Amazon’s Jeff Bezos https://www.incomediary.com/15-business-lessons-from-amazons-jeff-bezos https://www.incomediary.com/15-business-lessons-from-amazons-jeff-bezos#comments Fri, 11 Apr 2014 12:00:35 +0000 https://www.incomediary.com/?p=12265 What does it take to create the world’s largest online retailer, amass a personal wealth of over $83 billion, and be chosen as Time’s Person of the Year? Better ask Jeff Bezos. He’s the founder, chairman, president, and CEO of Amazon.com. But he almost wasn’t. Below, I’ll share Bezos’ amazing story and 15 lessons from ...

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What does it take to create the world’s largest online retailer, amass a personal wealth of over $83 billion, and be chosen as Time’s Person of the Year?

Better ask Jeff Bezos.

He’s the founder, chairman, president, and CEO of Amazon.com. But he almost wasn’t. Below, I’ll share Bezos’ amazing story and 15 lessons from his life that you can apply to your own business.

#1 Act

It is only through deliberate action that we can bend the universe to our will.

But there’s a common misunderstanding about action too: that we must know the exact right action to take before doing anything. This way of thinking leads “analysis paralysis” and inaction.

Bezos is not the type to fall into this trap. Though he’s well aware that taking the wrong action will have negative consequences, he doesn’t mind:

“If you decide that you’re going to do only the things you know are going to work, you’re going to leave a lot of opportunity on the table.”

Jeff Bezos, CEO & President of Amazon.com

In 1994, Jeff Bezos was faced with the biggest decision of his life: should he quit his “well-paying” job as NYC hedge fund manager to create an online bookstore… or should he stay put?

He decided to drive across the country and buy the domain rights to Amazon.com. The rest is history.

As Amazon has grown, Bezos has encouraged his employees to err on the side of action. Sometimes this has resulted in pure brilliance (the development of one-click shopping). Other times it has resulted in total failure (the development of Amazon Auction, which couldn’t compete with Ebay).

Bezos doesn’t mind the occasional misstep:

“We are willing to go down a bunch of dark passageways, and occasionally we find something that really works.”

It’s all part of the Amazon company philosophy. Bezos lists having a “bias for action” as one of Amazon’s six core values.

#2 Minimize Regret

When Bezos was debating whether or not to quit his day job and start Amazon.com, he realized that he lacked an analytical framework for making big life decisions. So he made one up:

“The framework I found which made the decision incredibly easy was what I called – which only a nerd would call – a ‘regret minimization framework’. So I wanted to project myself forward to age 80 and say, ‘Okay, now I’m looking back on my life. I want to have minimized the number of regrets I have.’”

Jeff Bezos, CEO & President of Amazon.com

In this big-picture perspective, the right decision was clear. He wouldn’t regret losing his job at the age of 80 (surely he would have found another good job by then), but he would still be kicking himself for not cashing in on the online gold rush (at that time, the Internet was growing at a rate of 2300% per year).

 “I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.”

Give Bezos’ “regret minimization framework” a shot for yourself. You may be surprised what action it inspires you to take.

#3 Grow Slow

How long should it take before a startup becomes profitable? Maybe six months?

For Jeff Bezos and Amazon.com, it took over six years. Even then, the company made only about $5 million in profit out of revenue of over $1 billion.

That might seem like a long time (and a razor-thin margin), but it all went according to Bezo’s unusually slow-paced business plan. Bezos was in no hurry to rake in a profit because he wanted keep prices low while reinvesting as much revenue as possible back into the company.

This strategy frustrated investors in the short-term but it paid off in a big way when Amazon survived the bursting of the dot-com bubble and started posting bigger profits quarter after quarter.

#4 Encourage Word of Mouth

When Bezos started Amazon he didn’t have a marketing budget. The only way his company would succeed was if it was so good that it spread by word of mouth.

“If you build a great experience, customers tell each other about that. Word of mouth is very powerful.”

Jeff Bezos, CEO & President of Amazon.com

There’s no better way for a business to grow than through positive word of mouth. The only way to achieve that is to deliver a product or service that’s worth talking about. Part of that means providing excellent customer service…

#5 There is Nothing More Important than the Customer

Everybody knows that the customer is always right. But Bezos and Amazon have taken the customer-first philosophy to the extreme. For Bezos, customer satisfaction isn’t just everything, it’s the only thing. It’s the very foundation of his business model:

“The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company.”

Jeff Bezos, CEO & President of Amazon.com

Bezos considers customer service to be Amazon’s biggest competitive advantage:

“If there’s one reason we have done better than of our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience.”

The customer experience has never been more important than it is online. Word of mouth spreads quickly on social networks and your competitors are always just one click away. If you want your brand to thrive online, focus like a laser on customer satisfaction.

#6 Charge Less

Some companies are always trying to find ways to charge you more. Just think of all the extra fees that airlines and car dealerships tack on to the advertised price.

Amazon could probably make a killing with this strategy, but they don’t. Instead, Bezos tells his employees to find ways to cut costs and increase efficiency so that they will be able to charge their customers even less.

“There are two kinds of companies: those that work to try to charge more and those that work to charge less. One will be second.”

Jeff Bezos, CEO & President of Amazon.com

It’s easy to raise revenue by raising your prices, but it can also lead customer dissatisfaction (which will lower your revenue in the long run).

Before you charge more, do everything possible to make your business model cheaper and more efficient. You’ll help your bottom line and you may even be able to charge your customer less. That’s win-win.

#7 Never Stop Innovating

“What is dangerous is not to evolve”

Jeff Bezos, CEO & President of Amazon.com

Normal human beings fear change. Jeff Bezos is more afraid of becoming stagnant.

His tendency to push the envelope has given Amazon.com a reputation as a nimble, always-evolving company.

Amazon started out simply selling books, but it hasn’t stopped expanding since its inception. Today, Amazon sells just about everything – but it also creates its own products, offers a host of web services, and even delivers groceries to your door (if you live in Washington).

#8 Be Flexibly Stubborn

“The thing about inventing is you have to be both stubborn and flexible, more or less simultaneously.”

Jeff Bezos, CEO & President of Amazon.com

Bezos is a man who understands the value of a good paradox.

It seems impossible to be both stubborn and flexible at the same, but that’s exactly what Amazon is. Bezos explains:

“If you’re not stubborn, you’ll give up on experiments too soon. And if you’re not flexible, you’ll pound your head against the wall and you won’t see a different solution to a problem you’re trying to solve.”

Stubbornness and flexibility are both valuable traits. Like just about anything things in life, the key is finding a middle road between the two.

#9 Be Realistic

One of my favorite quotes is from Will Smith: “Being realistic is the most commonly traveled road to mediocrity.” The idea is that if you never allow yourself to imagine an extraordinary life, there’s no way you’ll ever obtain one.

On the other hand, it’s possible to dream a little bit too wildly – and I think this affliction is particularly common with entrepreneurs. If you expect overnight success with minimal effort, you’re setting yourself up for never-ending frustration and disappointment.

As Bezos points out, being realistic about your business is also a way to ease the pressure of being an entrepreneur:

“It’s very important for entrepreneurs to be realistic. So if you believe on that first day while you’re writing the business plan that there’s a 70 percent chance that the whole thing will fail, then that kind of relieves the pressure of self-doubt.”

Jeff Bezos, CEO & President of Amazon.com

#10 Imitate

It’s good to be unique. But it’s even better to put a unique twist on something that’s already been proven to work.

“We watch our competitors, learn from them, see the things that they were doing for customers and copy those things as much as we can.”

Jeff Bezos, CEO & President of Amazon.com

Don’t turn a blind eye to your competitors. Chances are they’re doing something you could learn from.

#11 Work Backwards

How do you develop a product that’s guaranteed to sell?

The best advice I’ve heard is to first figure out what your customers truly want and need. Provide that with your product and you’ll have no trouble selling it.

This is a strategy that Amazon has implemented many times, most famously with the Kindle e-book reader. Bezos explains:

“There are two ways to extend a business. Take inventory of what you are good at and extend out from your skills. Or determine what your customers need and work backwards, even if it requires learning new skills.”

Jeff Bezos, CEO & President of Amazon.com

In 2006, Amazon was an online retailer – not a maker of handheld electronics. But Bezos recognized that Amazon’s consumers needed a way to read the e-books that they were purchasing from his site. So they worked backwards to meet that need.

When Amazon released the first generation Kindle in November of 2007, it sold out within six hours (and remained out of stock for five months). To this day, Kindle remains the leader in the e-reader category and in November of 2011 they reported sales of “well over” one million sales per week.

#12 It’s Good to be Misunderstood

When you’ve got a business idea that’s destined to change the world (like Jeff Bezos did in 1994) there are bound to be people who just don’t get it. The more revolutionary your thinking, the more likely it is to be misunderstood.

Bezos has particularly thick skin when it comes to this kind of thing:

“We’re very comfortable being misunderstood. We’ve had lots of practice.”

Jeff Bezos, CEO & President of Amazon.com

Amazon never shies away from a good idea because they’re afraid some of their customers won’t like it. According to Bezos, they’ve “always had a lot of skeptics,” but they’re confident in their vision – and confident that they can convert skeptics into believers.

#13 Be Picky About People

One of Amazon’s core values is to have a high hiring bar. That means they only bring on a new employee if he/she is a perfect fit.

“I’d rather interview 50 people and not hire anyone than hire the wrong person.”

Jeff Bezos, CEO & President of Amazon.com

Bezos is so particular about who he hires because he realizes that great company culture flows naturally from the people who you bring on board. As of April 2012, Amazon.com employs about 56,000 of the world’s best and brightest people.

#14 Be Far-Sighted

Bezos recognizes that “a lot of people believe that you should live for the now.” But he’s says, “I’m just not one of them.”

He recommends that people “think about the great expanse of time ahead of you and try to make sure that you’re planning for that in a way that’s going to leave you ultimately satisfied.”

The Benefits of Long-Term Business

Amazon is a company that will sacrifice guaranteed profits today in hopes of scoring even bigger profits decades from now. Bezos has said that “sometimes we measure things and see that in the short term they actually hurt sales, and we do it anyway.”

Here’s his reasoning:

“Every time the math tells you that you shouldn’t lower prices because you’re going to make less money. That’s undoubtedly true in the current quarter, in the current year. But it’s probably not true over a 10-year period, when the benefit is going to increase the frequency with which your customers shop with you, the fraction of their purchases they do with you as opposed to other places. Their overall satisfaction is going to go up.”

Bezos would rather charge people less today so that they will use Amazon again tomorrow.

#15 Make History

“I’m not near the end of the story.”

Jeff Bezos, CEO & President of Amazon.com

For us, it seems like Bezos has already reached his zenith – the pinnacle of entrepreneurial achievement. But in his mind, he still has miles to go. He’s openly said that he hasn’t yet built “a lasting company” and that “the Internet in general and Amazon.com in particular, is still in Chapter One.”

Bezos is out to make history. And if you want to find similar success, you’ll have to adopt his “go big or go home” attitude. I’ll leave Bezos with the last words:

“Work hard, have fun and make history.”

Read more: ‘The 100 Richest Internet Entrepreneurs’

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How Apple Became the World’s Most Valuable Company https://www.incomediary.com/how-apple-became-the-worlds-most-valuable-company https://www.incomediary.com/how-apple-became-the-worlds-most-valuable-company#comments Thu, 23 Feb 2012 14:51:14 +0000 https://www.incomediary.com/?p=11605 Let me take you back for a moment to 1997. Stock in Apple Inc. was trading at a ten-year low ($13 per share). The Macintosh was outdated, the Newton had flopped, and Apple’s board of directors had just ousted their second CEO in as many years. It looked like Apple would be obsolete by the ...

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Let me take you back for a moment to 1997.

Stock in Apple Inc. was trading at a ten-year low ($13 per share). The Macintosh was outdated, the Newton had flopped, and Apple’s board of directors had just ousted their second CEO in as many years.

It looked like Apple would be obsolete by the millennium.

But you know the rest of the story: Steve Jobs took the reins in 1998, unveiled the iMac, and proceeded to guide Apple through an unprecedented period of growth and profitability.

Last week, stock in Apple Inc. surpassed $500 per share for the first time – which makes it the world’s most valuable company. Below, I’ll explain four ways Apple climbed to the top of Wall Street and how you can apply the same strategies with your business.

Apple Targeted Emerging Markets

Apple has been developing products for emerging markets since they first started in 1976. Of course, back then the personal computer was still in an emerging market.

A lot has changed in the last 35 years, but Apple continues to focus its efforts on markets that are new – and therefore less competitive. Their products aren’t usually the first of their kind, but they are almost always the first to get it right.

Take the iPod. It wasn’t the first portable mp3 player, but it was the first to be intuitively designed and well-marketed.

The same could be said of the iPhone for the smart phone market and the iPad for the tablet market. Apple has come to dominate these niches that are now well-developed and very lucrative.

Pioneering New Frontiers

You don’t have $10 million to spend developing innovative technologies, so how are you going to stand a chance in an emerging market?

It’s not as hard as it sounds.

In the world of online entrepreneurship, there’s a new market emerging every week. Mobile marketing, online video production, and social media services are all growing fields that aren’t going anywhere any time soon.

Apple Cultivated Recurring Revenue

True wealth doesn’t come from launching one big product or making one big deal. It comes from tapping into streams of revenue that keep producing profits month after month. Nobody is better at this than Apple.

It started in 2001 with iTunes, a free music player with a built-in store. Ever since, Apple has been raking in hundreds of millions of dollars a year from iTunes sales of music, movies, and books.

In 2008, Apple introduced the App Store. It has been even more lucrative than iTunes, since Apple gets 30% of every app sale.

Then there’s the mobile market. Verizon and AT&T love Apple because their iPhones are great at inspiring customers to pay extra every month for a data plan.

With all of these different sources of recurring revenue, Apple wouldn’t have to launch another product and they would still be making money for years to come.

How You Can Earn Recurring Revenue

Recurring revenue isn’t just for tech industry giants.

The best example of recurring revenue online is membership sites. The concept is simple: in order to gain access to an online resource (videos, guides, and forums), users must agree to pay a recurring fee.

Another way to make a monthly income is by attracting companies to put advertisements on your website. If you take good care of your advertisers, they’ll keep paying you for space on your site for as long as you want.

If you’re like me and you offer an online service, consider offering your clients a monthly maintenance program – or just a longer contract with more deliverables.

Apple Embraced Luxury Culture

Why is it that Apple has never offered a budget laptop?

Companies like Dell and Gateway have long been “racing to the bottom,” trying to provide the best value at the lowest price.

But Apple has stayed above the fray. The cheapest Macbook ($999) is almost three times as expensive as the cheapest laptop HP has to offer.

If Apple offered a budget-priced Macbook, I’m sure it would fly off the shelves. They would make (another) boatload of cash. But they won’t be doing that any time soon.

The reason is simple: they like that their products are considered luxury purchases.

Owning an Apple product has become a social signifier. Pulling out your iAnything indicates that you’re doing well enough financially to splurge on a higher-priced gadget.

Don’t Race to the Bottom

People tend to ascribe more value to items with higher prices. So think twice about trying to have the lowest price in town.

If you’re offering a product or service, consider having one luxury option. It will make your standard prices seem low in comparison.

Better yet, you’ll likely get a few customers who actually want to shell out more money to get something luxurious.

Apple Built a Brand

We’ve all witnessed Apple-mania first hand.

The phenomenon is widespread: Fortune magazine has named Apple the world’s most admired company for the last four years (2008 to 2011).

It all comes down to their brand – which Apple has artfully developed since their inception.

Their former tagline, “Think Different,” didn’t just sell computers; it sold a counter-culture.

Apple has also built their brand through consistent design. From the iMac on, every major Apple product has had the same leading designer, Jonathon Ive. That means that there has been a unified vision behind the design of the iPod, Macbook, iPhone, iPad, and more.

Of course, a brand is so much more than a name, marketing campaign, or aesthetic. The real substance of Apple’s brand comes from the perception that their products are intuitive, reliable, and powerful.

What’s in a name?

It’s no secret that Apple has fostered their brand by using similar product names: iPod, iMac, iThis, iThat. All Apple has to do is put a lowercase ‘i’ in front of a one syllable word and they’re set.

You can use a similar tactic to create your own brand identity.  If you’re choosing a name for your company or for your next product, think about using a distinctive word that will be versatile. That way, you will be able to use variations of it in future.

Will Apple Stay on Top of the World?

According to the laws of physics, what comes up must come down.

Some doubt that Apple will continue to innovate without the guidance of Steve Jobs. Others think they will lose ground in the less affluent global markets that are increasingly purchasing consumer electronics. And lately Apple has come under fire again for its labor practices.

Apple will be facing its fair share of challenges in 2012 and beyond. But the underlying principles at the core of the company make me believe Apple will still be the world’s most valuable company this time next year.

 

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20 Websites Making The Most Money https://www.incomediary.com/20-websites-making-the-most-money https://www.incomediary.com/20-websites-making-the-most-money#comments Fri, 22 Jul 2011 08:32:15 +0000 https://www.incomediary.com/?p=7483 Three years in a row, we have looked at how much each of the top websites in the world earn on a annual bases. This year, we put a lot more time and effort into it, to find the most up to date information, most people wouldn't even know! Find out how many employees Amazon have, which sites Google has bought, who's the most profitable and much more!

We hope you enjoy the list and please let us know what you think in the comments.

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Three years in a row, we have looked at how much each of the top websites in the world earn on a annual bases. This year, we put a lot more time and effort into it, to find the most up to date information, most people wouldn’t even know! Find out how many employees Amazon have, which sites Google has bought, who’s the most profitable and much more! We hope you enjoy the list and please let us know what you think in the comments.

How Much Does Amazon, Google and Facebook Make?

Amazon – $34,204,000,000 $1,084 per second

Founded in 1994 and currently employing 33,700 people, Amazon.com remains the world’s largest online retailers, with the highest revenue of any company on this list. Selling an assortment of products across the world in countries as far as the UK, Austria, Japan and China, Amazon is no longer just an online retailer, they’re the head of a very large family of companies such as IMDb, Lovefilm, Zappos and Alexa. There’s no doubt that Amazon has made a huge difference with where we shop in the last 15 years, with the closest website runner up in sales being Staples with less than a third of the sales of Amazon. 

Google – $29,321,000,000 $929 per second

Google’s ability to come in and create instantly popular features such as Google+, make it a force to be reckoned with for any website. The current leader in internet traffic is Facebook, so Google recently came out with their answer to that; ‘Google+’. Starting out in 1996 as a research project by Larry Page and Sergey Brin, Google grew into most users ‘go-to’ site for searching the internet, and their user friendly mottos of ‘to organize the world’s information and make it universally accessible and useful’ and perhaps more importantly ‘Don’t be evil’, has helped them to become the globally recognised brand that they are today.

eBay – $9,156,000,000 $290 per second

Founded back in 1995 (beginning to see a pattern emerging here) by Pierre Omidyar, this is without a doubt the best and most successful alternative to traditional online shopping, where you can effectively cut out retailer to buy and sell between user and user, cutting costs and raising money for unwanted goods. Founded in 1995, eBay has acquired 35 companies in the past 13 years including 6 online auction sites in the US, South Korea, India, France and Sweden, ensuring that they’re the no.1 name in online actions. They’ve even used some of the money that they’ve raised in the past to buy companies like Skype, before selling them for profit.

Yahoo! – $6,324,000,000 $200 per second

We often think of Yahoo! as the company that could never quite keep up with Google, even though it’s 2 years older, yet Yahoo! is so much more. At no.4 on this list, it has a mammoth revenue, and the site covers many similar areas to Google, only just not as well. Yahoo! was founded back in March of 1995 and they certainly have their fingers in a lot of pies, acquiring over 60 different companies in the last 16 years. As far as search engine traffic goes, I get 64 times the amount of traffic from Google, so it is in fact these acquisitions and ventures that make them a hell of a lot of money, not their search engine.

Alibaba – $5,557,600,000 $176 per second

Alibaba is the ultimate business-to-business tool and brings together importers and exporters from more than 240 countries and regions, all in one place. Alibaba focuses on facilitating trade between users across the world, and AliExpress focuses on smaller transactions between buyers and sellers worldwide. With 65 million registered users in more than 240 countries and offices in more than 70 locations worldwide, they’re the market leader in online world goods trade.

Expedia, Inc. – $3,348,000,000 $106 per second

Founded in 1996 as a division of Microsoft, Expedia, Inc. own a range of travel brands from Hotels.com to Tripadvisor, and their massive affiliate network has boosted their revenue to an all time high in recent years. Back in 2008, Fortune labeled Expedia one of the top 3 most admired internet companies, and one of the best managed companies in the same year. In the 15 years that they’ve been around, they’ve become the 1-stop shop for booking a holiday, covering every aspect of travel, and making them no.1 in the online travel industry.

Priceline – $3,072,240,000 $97 per second

Priceline specialise in facilitating the sale of flights, hotels, cars, vacation and cruises and are famous for their ‘name your own price’ system. In this system, travellers would name the price they wanted to pay, the service level they wanted and the general location, but, the companies used, exact location of hotels and flight itineraries were only revealed once the purchase had gone through and the customer had no right to cancel. It’s an unusual idea, but it seems to have done very well for them and their celebrity endorsers. William Statner, who was hired as a spokesperson for the company, chose stock over pay and is rumored to have sold a large majority of it right before the dot-com bubble burst and has made approximately $600 million from it.

AOL – $2,417,000,000 $77 per second

Founded all the way back in 1991 as America Online, and rebranded as AOL in 2006, AOL is best known for it’s online software suite, where, at it’s prime, 30 million members worldwide would access the internet through this community. Business may be good compared to some of the other companies on the list, but when you compare what they made in 2010, to what they made in 2006 (when the company went through it’s rebranding), they now make less than a third of what they did. The trouble was bloated and outdated software, overpriced services and the fact that they were no longer keeping up with the pace of the fast moving online world, or providing high demand services anymore. Sure it’s making a lot of money, but we expect to see it lower on this list next year.

NetFlix – $2,160,000,000 $68 per second

This is a relatively young company compared to some of the others on this list, founded back in 1997, NetFlix is a subscription based, online streaming and postal DVD rental company that is expanding across the world. They’ve built their reputation on their business model on a flat fee subscription, without late fees or due dates, and the ability to rent more than one film at a time. They’ve excelled where Blockbuster have failed and that’s evident in their respective companies revenues over the last 5 years. NetFlix recognised what was wrong with the movie rental industry, and saw where the future was going, and then went there with it. They’re coming to the UK very soon…

Facebook – $2,000,000,000 $63 per second

So popular, they even made a movie about it. As the youngest company on this list so far, founded in only 2004, Facebook currently has more than 750 million active users on it and has blown other social networks such as Myspace and Bebo out of the water when it comes to popularity. Started by the world’s youngest billionaire – Mark Zuckerberg – Facebook is not without it’s problems, including considerable legal battles and rival companies. With a pattern of social networks losing their overinflated worth and huge following, and the recent launch of Google+, who knows what’s in store for Facebook in the coming months.

Baidu – $1,199,000,000 $38 per second

As the largest and most popular search engine in Chine, Baidu is responsible for 56.6% of all searchs. Think of them like a Chinese Google, they index over 740 million web pages, 80 million images, and 10 million multimedia files and their services range from your standard search, maps, images and videos, to their own version of Wikipedia, games and internet TV streaming. And they’re still growing, business in 2010 was almost double what it was in 2009, making them a very safe bet when it come to investment.

Overstock – $1,100,000,000 $35 per second

2010 was a good year for Overstock, it was their first billion dollar one and their most successful year yet. Their business model, as their name would suggest, is to sell overstocked surplus goods, as well liquidating the inventories of failed companies and selling their goods at below wholesale prices. Overstock has branched out though, they also offer a small online auction side to the website and sell hand made products from workers in developing nations. Their accolades include being voted no.2 in the U.S. for best customer service and a Forbes study found them to be one of the top 10 best places to work in America. Overstock.com (or O.co for short) had their first annual profit in April of 2010 and things are looking up from there.

Skype – $860,000,000 $27 per second

With a total 663 million registered users in 2010, Skype is the largest voice and video service on the internet and has recently been bought by Microsoft for US$8.5 billion. Skype was founded back in 2003 as a peer-to-peer network, where users can call each other for free over the internet and make discount calls to local numbers all over the world. Originally developed by the same guys who created Kazaa, the massive ‘Napster like’ peer-to-peer program, Skype has consistently added new features and changed hands twice in the last 6 years. Originally bought by eBay for $2.6 billion in 2005, there wasn’t even 100million users onboard, but they soon started picking up when broadband speeds increased and they started rolling out features like video calling. A couple months ago in May, Microsoft made their deal to buy Skype, so it’s anyones guess what exciting new features we have ahead of us.

Zynga – $850,000,000 $27 per second

Founded just 4 years ago in 2007, this website has become shockingly successful from their social networking games such as FarmVille and Zynga Poker with over 270 million monthly users. These browser based games are primarily played through social networks such as Myspace and Facebook where users can interact with their friends and see how each other are doing. They make their money in an unusual way of limiting certain parts of the game to users who will buy credits to do certain activities, with payments amounts even exceeding $500. They’ve recently signed an agreement with Facebook for users to only use Facebook credits for these purchases, and in turn Facebook will help them to reach targets that they set. For people who don’t wish to pay for credits, there are options of taking out offers and surveys from Zynga’s numerous partners, which is helping them to make more money and drive more traffic. An unusual, but wildly successful business model, that seems to have grown very rapidly over the past 4 years.

Taobao – $774,210,000 $25 per second

Taobao is a Chinese language online retailer similar, to Amazon or eBay, where retailers and users can sell direct to other users, with a large majority of products sold being new. Founded 8 years ago, they had more than 370 million registered users by the end of 2010, currently host more than 800 million product listings and are raked at number 15 overall in the Alexa rank. Due to the different nature in the ways shopping is done in China, Taobao have integrated an instant chat feature where buyers and sellers can talk directly to each other to find out more information on a product, but more importantly, barter on price. The majority of their income comes not from commission, like Amazon and eBay, but from advertising revenue produced by sellers trying to market a product to sell on their site.

Groupon – $760,000,000 $24 per second

Groupon, a deal-of-the-day website, launched just 3 years ago in 2008 in just one city, is now in 150 markets in North America and 100 markets in Europe, Asia and South America with a following of more than 35 million registered users. The hugely rapid growth has had the Wall Street Journal report that the company is on pace to make $1 billion in sales faster than any other business, ever. The idea is simple, you sign up to a daily newsletter for the city that you live in and you’ll receive daily deals for stuff that you may be interested in. You find stuff for cheap, the seller makes loads of money, and Groupon make a fat commission. They’ve come along way in a sea of over 500 tough competitors, but only 1 has really come close, and that’s LivingSocial, but even that hasn’t made much of a dent. There is 1 reason to be worried though, and that’s Google, who, having failed to buy Groupon for US$6billion, are planning to launch their own competing product called Google Offers, and we all know what a force Google can be…

Orbitz – $757,500,000 $24 per second

Orbitz revenue is actually a little bit down in the past couple years, but they’re still one of the most popular places to look for travel information with 1.5 million flight searches and 1 million hotel searches made through their website everyday. Founded in 2001, Orbitz was established through a partnership of major airlines as a way to get in on the action that sites like Expedia and Travelocity were having, and it’s done so very successfully with 5 of the 6 major airlines combining to make this happen.

Yandex – $439,700,000 $14 per second

Yet another search engine has made it onto the list, this time from the largest country in the world – Russia, where it’s the largest search engine in the country. The majority of Yandex’s income comes from advertising, but like all good search engines, they don’t just do your bog standard searches. Yandex index over 10 billion pages, own a road traffic monitoring agency which they use for their maps, offer photo sharing service similar to Flickr and run an e-commerce payment system which is the second most popular in Russia. When you consider that Russia has declining a population of less than 142 million, and China has a population of over 1.3 billion, Yandex have done very well for themselves compared to Baidu.

ClickBank – $350,000,000 $11 per second

If you’ve been blogging for much time at all, you’ll be familiar with ClickBank; it’s an online marketplace for digital information products. If you were to create a digital product such as an ebook for sale, this is where you’d come to find affiliate markets in your niche who would sell it for you. You have to give away a large commission, but the beauty of a digital product means that once it’s been made, it doesn’t cost you any money to reproduce so you can continue to sell it at whatever price you’d like. Voted the no.1 affiliate network in America, the website has attracted over 1 million affiliate marketers, with around 10% of them being active at any one time.

LinkedIn – $215,200,000 $7 per second

Launched back in May 2003, LinkedIn is like a business version of Facebook with more than 100 million users in over 200 countries across the world. With the slogan ‘Relationships Matter’, LinedIn realise the importance of business networking in helping to build a company and so do their users, which is why they currently get 33.9 million unique visitors a month, surpassing Myspace in traffic. By the end of 2010, LinkedIn was valued at $1.575 billion, and has earned a lot of respect from critics, with Silicon Valley Insider ranking the company No.10 on its Top 100 List of most valuable start ups at the end of 2010.

Read more: ‘Top 30 Earning Blogs’

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30 Richest Internet Entrepreneurs https://www.incomediary.com/30-richest-internet-entrepreneurs https://www.incomediary.com/30-richest-internet-entrepreneurs#comments Fri, 27 Mar 2009 12:18:30 +0000 https://www.incomediary.com/?p=402 How many of you recon its possible to create a website and then less than 10 years later be worth billions? Well it is possible and in today’s top list, I’ll show you some rich internet entrepreneurs who have achieved it. Making money online has evolved a lot over the past few years. Every day ...

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How many of you recon its possible to create a website and then less than 10 years later be worth billions? Well it is possible and in today’s top list, I’ll show you some rich internet entrepreneurs who have achieved it.

Making money online has evolved a lot over the past few years. Every day people become millionaires through the internet and they were just like you, searching through the internet for that piece of inspiration that would give them the kick they needed to make it happen.

Making money is simple, you find a problem, offer the solution and then monetize it. This is exactly what the 30 people below did to make their billions online.

One of the easiest ways to get started making money online is to create a blog. There are many examples of millionaire entrepreneurs who started with blogging and then became much more.

I hope you enjoy today’s post:

Top Internet Entrepreneurs Making Money Online

Rank
Name
Website
Year Website Launched
Net Worth
1
Jeff Bezos
Amazon 1994 $85.4 Billion
2
Mark Zuckerberg
Facebook 2004
$63.3 Billion
3
Larry Ellison
Oracle
1977
$61 Billion
4
Larry Page Google 1998
$49.3 Billion
5
Sergey Brin Google 1998
$43.1 Billion
6
Ma Yun
Alibaba 1999
$41.8 Billion
7
Ma Huateng Tencent 1998
$24.9 Billion
8
Ding Lei NetEase 1997
$17.3 Billion
9
Robin Li Baidu 2000
$14.3 Billion
10
Jan Koum WhatsApp 2009
$9.7 Billion
11
Pierre Omidyar Ebay 1995
$8.8 Billion
12
Garrett Camp  Uber  2009
$6.9 Billion
13
Brian Acton  WhatsApp  2009
$6.5 Billion
14
Travis Kalanick  Uber  2009
$6.3 Billion
15
Hiroshi Mikitani Rakuten  1997
$6.1 Billion
16
Joseph Tsai  Alibaba  1999
$4.9 Billion
17
Marc Benioff Salesforce  1999
$4.23 Billion
18
Bobby Murphy SnapChat  2011 $4 Billion
19
Joe Gebbia Airbnb  2008 $3.8  Billion
20
Nathan Blecharczyk Airbnb  2008 $3.8  Billion
21
Brian Chesky Airbnb  2008 $3.3  Billion
22
Reid Hoffman LinkedIn 2002 $3.2Billion
23
Scott Farquhar Atlassian  2002 $2.5 Billion
24
Michael Cannon-Brookes Atlassian 2002 $2.5 Billion
25
Sean Parker Facebook 2004 $2.4 Billion
26
Sam Yagan OkCupid  1999 $2.4 Billion
27
Eric Lefkofsky Groupon  2008  $1.97 Billion
28
Jack Dorsey Twitter  2006 $1.89 Billion
29
Claus Wellenreuther SAP SE 1971 $1.83 Billion
30
Todd Wagner Broadcast  1995 $1.66 Billion

Read more: ‘The 100 Richest Internet Entrepreneurs’

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