Executive summary (entrepreneurship concepts) Research Paper

Executive summary (entrepreneurship concepts) - Research Paper Example This summary features Upworthy as one of the companies that have come up strongly. Upworthy is an attractive social media that was founded on March 2012. This social media based company helps in connecting organizations with people that would like to read their pages. Their website provides a platform for sharing of information about what is trending. Upworthy saw an opportunity in making worthy information get viral at the expense of funny stuff that has lees value. The business falls under a social networking where it allows people to share important information until it reaches to as many people as possible. The shared information is usually termed as verifiable and ‘upworthy’. The company has grown and currently has twenty-two employees. Their slogan is quite descriptive of their mandate, â€Å"things that matter.† Their offices are located in New York in the United States. The company was founded by Eli Pariser, Peter Koechley and Jennifer Lee. The company has received funding that totals to $12 Million; $4 million from venture round in October 2012 and $ 8 million from Series A in September 2013. Just after one year of existence, the company registered over 11 million unique visits surpassing the leaders like Huffington post (Mckenzie, 2013). The use of social media has emerged as a powerful tool in disseminating information. Upworthy spotted a perfect gap that would ensure that a solution is sought in reaching out to huge public through delivery of beneficial information. The choice to rise to the occasion and capitalize on the available opportunity and pain has made the company emerge successful. Bloggers and the mainstream social sites like Facebook and twitter have dominated the social networking industry. However, Upworthy strategized and its story is a successful one today. Their website has attracted a huge traffic courtesy of the news they air. Quantcast placed it among the top one