Corbis: Gates Other Company Focuses on Rights Management
Corbis' revenues are up 20 percent, in part due to strong growth in its rights licensing and management services. (Microsoft Watch)NEW YORKWhen Bill Gates founded his second company in 1990, he had an inkling that digital rights for images might be important some day. He was dead-on. The second and "perhaps the lesser known of the two" companies that the Microsoft chairman founded, as Gates quipped, announced on Wednesday that its revenues grew 20 percent last year, to $140 million. Gates and wife Melinda were on hand for the first annual meeting of privately held Corbis. Some had expected Corbis to use the meeting to announce plans to go public. But company principals said earlier this week there are no such near-term plans. The topic did not arise at the meeting.
"This is a company I am very proud of," Gates told meeting attendees.