The Wall Street Journal pay survey is a fascinating read. My initial impression was surprise that Steve Jobs was only number five. But the thing that shocked me the most is that Barry Diller, the CEO of IACI, is number two on that list, having made $1.14B over the years 2000-1010.

This is egregious. Not because Barry Diller is incompetent. He's a a smart guy, and a media visionary. It's because it's way out of line with what his company did. If you include Expedia shares, an IACI spinoff, IACI shareholders lost 18% over the decade period in which Dillar's compenstation was measured, according to the Wall Street Journal. In fact, IACI alone stock fell 80% during the time that Barry Diller made $1B.

IACI's market cap, today, is $2.6B. Expedia is worth about $6B. Barry Diller raked in $1B over 10 years. Whoa.

Compare it with Steve Jobs, a measly number five on the list, who took out only $749 million from Apple over the 10-year period, while Apple's market cap grew to a staggering $240B, creating enormous amounts of shareholder value.

Diller's pay even looks odd to Larry Ellison, who is number one on the list. Ellison made $1.8B over 10 years but his company is worth $123B and churns out $8B in cash flow per year. If you think in terms of Ellison only taking out 1/8th of one year's cash flow over 10 years, it doesn't seem that high at all, considering this was the company he founded.

Diller points out that many of the gains came from shares he excercised from earlier periods, so in fact the gains are over a longer period. It just doesn't matter when you stack up IACI and Expedia against Apple. Diller comes out looking greedy. He's trying, though.

This entry was posted on Tuesday, July 27, 2010 at 12:20 pm and is filed under Media, Technology.
Keywords: Barry Diller, IACI, Steve Jobs, Apple

NextNav Holdings Lands $70,000,000 Series D Financing Round
  • Company: NextNav Holdings
  • Description: NextNav, LLC was founded in 2007 to solve the indoor positioning problem, taking into account ecosystem issues, high-precision performance requirements and the economics of the location market.
  • Website: www.nextnav.com
  • Type: Venture Equity
  • Amount: $70,000,000
  • Round: Series D
  • Purpose: The financing will be used to extend the commercialization of NextNav’s revolutionary Metropolitan Beacon System (“MBS”) positioning network. MBS provides reliable, accurate horizontal and vertical location services inside buildings and in urban areas where satellite-based GPS signals aren’t available or reliable. The Company is deploying its MBS network much like a cellular network, resulting in wide-area coverage that delivers its location services to every building within its network footprint.
  • Investors:

Hipmunk Lands $9,019,278 New Funding Round
  • Company: Hipmunk
  • Description: The company operates an online travel website.
  • Website: www.hipmunk.com
  • Type: Venture Equity
  • Amount: $9,019,278
  • Round: Undisclosed
  • Purpose: Proceeds purposes were not disclosed. SEC regulatory filing. Contact technology company for investment details, if applicable. Not an offer or solicitation for sale of securities.
  • Investors:

Zentila Receives $700,000 New Financing
  • Company: Zentila
  • Description: We’ve been hoteliers for a long time. And over the years we’ve seen some pretty big changes. Mainly, the whole process of booking meetings has become way more difficult than we think it needs to be. Lots of back and forth, unanswered emails, phone tag — and after all of this effort, you’re never quite sure what you’ll actually get.
  • Website: www.zentila.com
  • Type: Debt
  • Amount: $700,000
  • Round: Undisclosed
  • Purpose: Proceeds purposes were not disclosed. SEC regulatory filing. Contact technology company for investment details, if applicable. Not an offer or solicitation for sale of securities.
  • Investors: