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Aakash kashyap
Stealth • 2m
Elon Musk became a millionaire for the first time when Zip2 was sold to Compaq in 1999. In 1996, Elon Musk co-founded Zip2 📈 an online city guide for newspapers, with his brother Kimbal. They were so broke that they slept in their office and showered at a YMCA. Musk cold-called businesses, offering to build websites and directories, facing constant rejection. The breakthrough came when Zip2 partnered with The New York Times and Chicago Tribune, gaining investor attention. However, Musk was soon sidelined by the board. In 1999, Compaq bought Zip2 for $307 million, and Musk earned $22 million. This experience taught him the importance of control, fueling his ambition for future ventures like PayPal, Tesla, and SpaceX. Zip2 no longer exists today. After it was acquired by Compaq in 1999 for $307 million, the company and its technology were absorbed and integrated into Compaq's systems. The Zip2 brand was discontinued after the acquisition, and the service is no longer available.
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