THE BUSINESS OF TECHNOLOGY
Baidu managed to post impressive revenue growth of 40 percent for the first quarter of 2013, but its earnings missed analysts’ expectations due to excessive R&D costs. The company earned $961 million in total revenue, or 5.97 billion RMB, but missed analyst pre-estimates of 5.99 RMB. Its net income increased 8.5 percent to $328.9 million but … [Read more...]
Those waiting for Eventbrite to go public will have to be patient. The online ticketing company recently raised $60 million to buy it more time. The round was led by Tiger Global Management, and included a new investment partner, T. Rowe Price. It brings Eventbrite’s total investment to $140 million. "We believe Eventbrite has a strong … [Read more...]
Though Supercell only entered the gaming market a couple of years ago and only has two titles in the Apple app store, its overnight success is garnering some serious cash. Forbes recently confirmed the young Finnish gaming startup raised $130 million at a $770 million valuation as investors bet on its multi-billion dollar potential. The financial … [Read more...]
In a sign that devops, the practice of fast software deployment, is the next big thing, IBM has acquired UrbanCode, a Cleveland software startup that automates the production and delivery of apps. The company’s systems are aligned with IBM’s own SmartCloud and Mobile First initiatives and will reportedly nicely complement IBM’s Worklight … [Read more...]
Netflix topped expectations with its first quarter revenue report this year, earning $1 billion in quarterly revenue and surpassing HBO’s user base with 29.2 million subscribers. Though HBO does not publish customer data, the research firm SNL Kagan estimated that the cable channel had 28.7 million subscribers at the end of 2012. As the New York … [Read more...]
Battling Pandora for turf in the on-demand music streaming service business, Spotify announced plans to expand its footprint into Asia, Latin America and Northern Europe recently on its blog. The company will expand into eight new countries, bringing its total markets to 28. The new locations include Singapore, Hong Kong, Malaysia, Mexico, … [Read more...]
The China Internet Network Information Center released some startling figures on the growth, size and potential of China’s ecommerce market. The sector earned more than 1.2 trillion RMB ($190 billion) in 2012. That’s a 66.5 increase over what it made the year before. And with 242 million Chinese Internet users purchasing goods last year in a … [Read more...]
The Samwer brothers, the infamous siblings behind Berlin's Rocket Internet incubator known for launching clones of successful companies in new markets, have teamed up with Fabian Siegel, one of the co-founders of Delivery Hero, a global online food delivery platform, to launch a new fund to be headquartered in Munich, Germany. Global Founders … [Read more...]
It costs money to look good, and Indochina just got a bundle, raising $13 million in a Series B round led by the Highland Consumer Fund with participation by existing investors Madrona Venture Group, Acton Capital Partners, and Jeff Mallett , Indochino Chairman and former president and COO of Yahoo!. Tom Stemberg of the Highland Consumer Fund will … [Read more...]