Wednesday, April 19, 2006

The Startup Type: Financial News - Yahoo! Finance

"Open-source is a great idea for users--they typically get a decent product for free. But it's a far trickier proposition for companies trying to make a buck from an open-source application.
That didn't deter Toni Schneider from quitting Yahoo, where he was a vice president, and joining Automattic in January. The startup, based in San Francisco, is named after 22-year-old co-founder Matt Mullenweg--the 'Matt' in 'Automattic' and the developer of WordPress, an increasingly popular open-source blogging tool. Launched six months ago, the company already claims 150,000 users. Schneider, 36, is now aiming to build a real business on top of Mullenweg's creation."

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