Google Founder’s Brother, Carl Page Having A Hard Time Managing ZVUE
ZVUE Corporation (NASDAQ:ZVUE) makes video players and also operates websites such as eBaumsWorld.com, Putfile.com, Holylemon.com, UnOriginal.co.uk, YourDailyMedia.com, Dorks.com, FunMansion.com and ZVUE.com.
ZVUE borrowed $1 million from Carl Page, who acts as the CTO of the company. Page is the older brother of Larry, the co-founder of Google Inc. Carl Page sold eGroups to Yahoo! Inc. for $432 million around 2000. ZVUE used Page’s investment for their hardware business. ZVUE sells MP3 and video MP3 players. ZVUE’s biggest hardware customer in 2007 was Wal-Mart.
Carl Page was also an investor in Powerset, a semantic search engine company that sold to Microsoft for $100 million. To date, Page has loaned ZVUE about $4.9 million.
Earlier this year, Zvue shut-down their San Francisco office and all of Zvue’s web properties are now managed by Eric Bauman, founder of eBaumsworld.com. After Directors Allan Grafman and Mitchell Koulouris quit ZVUE, the NASDAQ sent them a letter of non-compliance. And this past August, ZVUE’s CFO Tom Hillman quit.
ZVUE is currently being traded for about $0.08 per share on the NASDAQ, thus giving them a market cap of less than $3 million.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry