Social discovery network Tagged has bought semantic text startup Tropicmarks in a move that will match like-minded users, creating a 'Pandora for people,' as CEO and Co-founder Greg Tseng calls it.
The third largest social network in the USA behind Facebook and Twitter, Tagged was founded in 2004 and the acquisition of Topicmarks shows the network's focus towards enabling users to discover new people as opposed to staying in touch with people you already know or subscribing to content creators. Topicmarks' offering extracts meaning out of users' data and gives it sentiment meaning the updates and shared information people put on Tagged. The acquisition of Hi5 makes it easy to meet and socialize with new people through games, shared interests, friend suggestions, browsing profiles, and much more.
Previously, Greg co-founded Avivon Inc., which introduced the textbook comparison-shopping agent http://flyingchickens.com to the Harvard campus during the Fall semester of 1999, and served as COO of Limespot.com LLC, a leading network of 100+ local college portals.
Greg holds an A.B. in Chemistry & Physics & Mathematics from Harvard University, where he served as a Director of the Harvard Entrepreneurs Club (HEC) from 1998-2000 and co-authored The Harvard Entrepreneurs Club Guide to Starting Your Own Business (Wiley, 1999). Greg is presently on leave from Stanford University, where he is pursuing the Ph.D. in Physics on a National Defense Science and Engineering Graduate Fellowship. His academic research lies in the field of nanotechnology and he has published his results in top journals such as Science.
Elite's interview with Greg, allows us to take a real look at entrepreneurship and how to successfully be be one.
Like any entrepreneur, you always seem to be involved with several different ventures and projects at once. How do you prioritize and balance this so that you maximize each venture's probability of success?
What should we expect to see hitting the market this year from Greg Tseng? Any stealth projects?
What were you like in college? Did you have the more of the typical college experience or were you hustling away, maybe engaged in a business endeavors?
What is your take on college in 2012? Many successful entrepreneurs are skeptical of how much college actually prepares students for the real world. Would you advise an ambitious youth to go college today?
What is the best way to overcome obstacles and dealing with failure as an entrepreneur?
What motivates you to wake up in the morning and work harder than everybody else?
Right now, in the midst of the second tech boom, we consistently see Internet startups transform into billion dollar IPO's over the course of just a few years. Is this just a bubble? What do you think the next great opportunity or trend will be that is of equal caliber to this tech boom?
What are those critical first steps that every entrepreneur must take on the road to success? What must you first do to get a venture off the ground?
Have you had any setbacks that discouraged you from the risk-filled world of entrepreneurship?
What does the average day in the life of Greg Tseng consist of?
What was that “it” moment when you realized you guys had made it?
What advice can you give a young entrepreneur who is in the midst of turning a concept into a business?
In general, what are your 3 best tips for success?
If you had to enter any other profession or industry other than entrepreneurship, what would it have been?
Which startups do you advise? And what are some of the more common problems that these companies or yours experience?
The recent crackdown on social media privacy has negatively affected many companies. Was having to change certain functions and processes on Tagged a strong blow to the company, or was it a quick fix?