Walker Digital
From Wikipedia, the free encyclopedia
Walker Digital is an American corporation based in Stamford, Connecticut. Started in 1993 by entrepreneur Jay Walker, it is the parent company of several other companies. Walker Digital creates companies that can exploit the power of digital networks for new business models. Walker is currently the Chairman and lead inventor of Walker Digital and Jose Suarez its President and COO.
Walker Digital describes itself as a private research and development laboratory devoted to developing patents and business models that use new technology, such as digital networks like the Internet, cell phone or satellite networks, ATMs and point of sale devices. The new systems are designed for industries including gaming, retail and financial services.
Of all the companies Walker Digital has created, Priceline.com, which focuses on travel-related discounts, and Synapse, a magazine-subscription company sold to TimeWarner, are by far the most successful. Walker Digital has created other digital-based companies, but many have failed and none have achieved the same level of success of Priceline.com or Synapse. For example, Skillgames.com, a web site devoted to games of skill (as opposed to games of luck, which are legally defined as gambling), generated millions of dollars of capital with huge partners such as Disney, but with its offices located directly across the street from The World Trade Center, it closed right after the September 11 attack.
Formerly focused mostly on web-based entities, Walker Digital and its founder were heavily impacted by the Dot com bust of 2000. In little over a week, it is estimated Jay Walker lost $15 billion in net worth.
While Hoovers.com incorrectly reports that Walker Digital still employs the 400 people it employed prior to 2001, they currently employ about 50 people in their new headquarters in Stamford, Connecticut.
Under new management since 2001, this privately held company has grown its intellectual property portfolio to more than 300 issued US patents and over 700 pending and is currently working on a number of non-internet based initiatives which have attracted over $100 million in direct investments. International Game Technology, for example, announced in 2006 the purchase of a minority equity interest in a Walker Digital company focused on casino-related products.
