THE BUSINESS OF TECHNOLOGY
Google keeps pretty mum on the subject of YouTube revenue, leaving it to analysts to guess what kind of take the service racks in. Analysts from Morgan Stanley recently took a crack at it. They predict the company will reach $20 billion in gross revenue by 2020 to generate $5 billion in operating income, CNBC reported. The research analysts based … [Read more...]
Yahoo has acquired Tumblr, the popular blogging service, for $1.1 billion cash in one of the largest deals for a social networking company in years, even surpassing Facebook’s $1 billion acquisition for Instagram. Yahoo gets the six year old social blogging platform’s access to a younger audience, as Tumblr is most popular among the 18 to 24 … [Read more...]
By MATT GALLAGHER, Red Herring journalist As NTP Software’s CEO Bruce Backa is fond of saying: “The business of file data management may not be as sexy as Google or Facebook, but like death and taxes you can’t get away from it.” Luckily now you don’t have to. Thanks to NTP’s Universal File Access, a product the company debuted this … [Read more...]
Intel Corp. has made an offer to acquire Stonesoft, a public Finnish firewall security company, for $389 million in cash to bolster the offerings of its McAfee security software package. Public stock of the security company soared following the announcement. Stonesoft investors are poised to faire nicely at 4.50 euros ($5.90) a share, more than … [Read more...]
Namshi, a product of Rocket Internet’s incubator program, recently raised a $13 million round to harness recent growth in its fashion ecommerce channels in the Middle East. Summit Partners led the investment. Namshi provides ecommerce fashion retail to Middle Eastern markets, featuring clothing, accessories, and footwear for women, men, and kids … [Read more...]
Matrix Partners recently announced the closing of its 10th fund, a $450 million package focused on early stage technology investments. The fund was first leaked to Fortune’s Dan Primack last month, but now the paperwork makes it official. The fund will focus on consumer investments in early stage consumer Internet, mobile, enterprise software … [Read more...]
In a further sign of economic rebound, the US stock market surpassed pre-recession levels for the first time, hitting a pace this year that puts it on track to reach the heights achieved just before the financial crisis. So far this year, 64 companies have raised $16.8 billion, the Wall St. Journal reported, citing Dealogic data. In the same … [Read more...]
In a sign that social and ecommerce are becoming peas in the same pod, Alibaba, the Chinese Amazon giant, has purchased Weibo, China’s version of Twitter, for $586 million. The deal values Weibo at over $3 billion, according to Reuters. A number of analysts, who peg Weibo’s value at between $600 million and $2.5 billion, have described the … [Read more...]
Ouya, a Los Angeles-based startup whose Android-based games console attracted a lot of attention, not to mention money, from a better than anticipated Kickstarter campaign, recently raised $15 million, this time from venture capitalists. Led by Kleiner Perkins Caufield & Byers, the round included participation from the Mayfield Fund, Nvidia, … [Read more...]
Baidu, the largest search engine in China, has acquired PPStream, the Shanghai-based online video platform, for $370 million, the company confirmed this week following weeks of rumors on the deal. PPS will be merged into iQiyi, Baidu’s video platform, to become China’s largest video platform according to viewing time and number of mobile … [Read more...]