His major accomplishments in the business world started with the founding of Zip2, which he later sold for $305 million USD in 1999. Elon Musk's second internet startup was an email payment and financial services company, X.com, which was later renamed PayPal in 2001. In 2002, PayPal was acquired by eBay for $1.5 billion USD. Elon Musk received $165 million USD of it.
This is largely due to the significant investments it has made in research and development for the transformative technology in its cars. It is also the result of the rapid expansion the company has experienced in just a handful of years. The cutting-edge auto maker posted revenues of just over $200 million in 2011, while reporting sales of over $4 billion last year. Tesla is also investing heavily for the construction of its Gigafactory in Nevada, which has already begun producing battery packs and will likely manufacture lithium cell batteries by year’s end. Because of these large cash outlays, Tesla has reported negative free cash flows and earnings for nearly every year since its IPO.
I. Introduction Tesla Motors, Inc., founded on July 1, 2003, is an American automotive and truck manufacturer. It is headquartered in Palo Alto, California, U.S and currently led by Elon Musk, who is the Chairman and CEO simultaneously. The last fiscal year of Tesla Motors ended in December 31, 2014 and audit process of Tesla’s financial statements was completed by PricewaterhouseCoopers. Consolidated financial statements which consist of consolidated balance sheets, comprehensive loss, stockholders’ equity, statement of operations and cash flows have been audited in accordance with the standards of the Public Company Accounting Oversight Board (United States).
Company background Tesla Motors Company was established by Martin Eberhard and Marc Tarpenning in California 's Silicon Valley area in 2003. It is a company specialize in automotive and energy Storage technology that involves designs, manufactures, and sells luxury electric cars, electric vehicle powertrain components and battery products. The company believes that electric cars could be better than gasoline-powered cars and it will be the future trend of car market. Tesla committed to developing diversity model to suit different type of user requirement and each new generation of the car would be increasingly affordable.
In recent years, the automotive industry has seen a dichotomy of innovations – particularly in relation to electric vehicles. For example, Tesla and GEM have each introduced new and distinct electric vehicles aimed at different “jobs to be done.” Tesla Motors (“Tesla”) is an American electric-automobile manufacturer. It was founded in 2003 by American entrepreneurs Martin Eberhard and Marc Tarpenning and was named after Serbian American inventor Nikola Tesla. Tesla was formed to develop an electric sports car. Funding for the company was obtained from a variety of sources, most notably PayPal co-founder Elon Musk, who contributed more than $30 million to the new venture and served as chairman of the company, beginning in 2004.
The California-based automotive company manufactures and sells nearly zero-emissions cars, that cause less hurt to the surroundings than gas-powered vehicles, thereby creating it a "socially responsible" company. Tesla's chief Elon Musk, started the energy unit maker with one goal in mind to assist finish the world's dependence on oil. Moreover, Musk says the "overarching purpose" of Tesla Motors is "to facilitate expedite the move from a mine-and-burn organic compound economy toward a star electrical economy, that he feel to be the first, however not exclusive. That's beyond any doubt a noble and socially
This later grew to become Paypal with Musk as the chairman and chief executive. Then, in 2002, Elon Musk founded his third company which was the Space Exploration Technologies Corporation, or SpaceX. His main goal was to build a spacecraft for commercial space travel, and after it was established the NASA awarded the company the contract to handle cargo transport for the International Space Station. With the successful launch of the Falcon 9 rocket, Musk and SpaceX made history. Elon Musk is also the co-founder, CEO, and Product architect of Tesla Motors.
If Tesla goes into other countries ' markets, its marketing team may be conservative. So its marketing plan will be more careful and will require more time to run the program. In this way, Tesla can ensure appropriate returns and stable growth rates. Because it takes a long time to make a marketing plan, it will delay the entry of Tesla into new markets. In addition, if Tesla launched marketing plan is conservative, it will reduce the competitiveness of Tesla and make it difficult for the local people
Lastly, he co- founded a company called X, which is now Paypal, that makes making transactions online so much easier and is very helpful to today's economy (“Elon Musk”). As one can see, elon Musk has made a greatly affected our economy in a positive way, going way past just creating jobs, but improving the economy through environmentalism, being an example to future entrepreneurs and