Baidu Acquires Online Video Platform PPS for $370M

baidu

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 users. … [Read more...]

2012 Red Herring Europe Coverage

2013 Top 100 Europe from Red Herring on Vimeo. … [Read more...]

BMC Software Privatizes in $6.9B Deal

bmc

BMC Software agreed to privatize itself in $6.9 billion sale to a group of investors led by Bain Capital and Golden Gate Capital. The deal pays $46.25 per share to the buyer’s group which includes the Government of Singapore Investment Corporation and Insight Venture Partners. That’s a 14 percent premium on BMC’s share price on May 11, 2012, the … [Read more...]

Pentagon Directly Accuses China of Hacking Military Secrets

China hackers

The Pentagon directly accused China of hacking US computer systems to gain access to its military technology. The accusations were part of an 83 page report to Congress on China’s military activity. It is the first time the US military has directly accused the Chinese government of cyber espionage activities into its computer systems. It is the … [Read more...]

US Military Drone Technology Massively Hacked by China

chinahackers-virtualthreat

by MATT GALLAGHER, Red Herring journalist A US military contractor, whose UK parent is a spinoff of the actual government lab that inspired Q in James Bond thrillers, has been the source of a massive Chinese hack, Bloomberg reported. Bloomberg reports that QinetiQ’s North American division’s systems have been hacked by Comment Crew, a team of … [Read more...]

Costs Soaring, Baidu 1Q $328.9M Earnings Disappoint Analysts

baidu

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...]

Eventbrite Raises $60M, Puts Off IPO

Money Sign

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...]

Young Gaming Heavyweight Supercell Raises $130M at $770M Valuation

OLYMPUS DIGITAL CAMERA

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...]

IBM Acquires UrbanCode for Fast App Development

Money Sign

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 mobile … [Read more...]

Netflix Quarterly Revenue Tops $1B, Subscribers Surpass HBO

netflix

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...]