THE BUSINESS OF TECHNOLOGY
Like the nose of the Titanic slowly sinking into the ocean, HP's descent has become epic. The company reported an $8.9 billion loss for the third fiscal quarter that ended at the close of July, weighed down by $8 billion in losses from the colossal weight of its troubled 2008 acquisition of Electronic Data Systems for $13 billion. For comparison, a … [Read more...]
The Red Herring editorial team selected the short list for the 2012 Red Herring 100 Asia Award. They are the most innovative and promising companies from a pool of hundreds from across Asia. The Finalists are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, IP … [Read more...]
Pure Storage, the flash enterprise storage company, raised another $40 million in funding, its second cash infusion despite only launching out of stealth mode a year ago. Index Ventures’ Mike Volpi led the round, with participation from existing investors Greylock Partners, Redpoint Ventures and Sutter Hill Ventures. The new funding brings the … [Read more...]
Salesforce finalized its $689 million acquisition of Buddy Media, paying $475 million in cash and 1.4 million common stock shares, according to an SEC filing. The deal is the largest contract in the history of the mega-cloud software provider's history. Founded in 2007, Buddy Media has been connecting brands to their consumers and fans in a … [Read more...]
by MATT GALLAGHER, Red Herring Skyera launched Skyhawk this week, a series of enterprise solid-state storage systems that effectively eliminate the price barrier to solid state storage technology. At $3 per gigabyte, or as low as $1 after compression and deduplication, the technology makes solid state-storage an affordable realistic technology … [Read more...]
The art market can be an intimidating place to wade into for first time buyers. Traditional galleries with their white empty spaces and uninterested staff often create atmosphere that discourages new collectors from getting involved. And while Art.com and Etsy have made finding posters and art reproductions easy online, the art industry as a whole … [Read more...]
Google is on the verge of being slapped with a $22.5 million fine by the FTC, after the company was caught dipping its hands into Safari's cookie jar, the Wall St. Journal first reported. Though its a mere handful of change to Google, the fine would be one of the largest the agency has ever leveled against a single company. By default, Apple … [Read more...]
by MATT GALLAGHER, Red Herring In the world of bio-based plastic, Ecospan not only closes the loop, producing a solid, industry-suited plastic from 100 percent natural materials, but it does so at a cost efficiency that more than pays for itself in the end. Using bio-based, petroleum-free materials, the company produces a material strong … [Read more...]
Zynga stock took a nosedive June 12, dropping as much as 13 percent in a fall that triggered a short-sale circuit breaker, designed to halt stock trading when the price drops below 10 percent. The ban will be in effect through Wednesday. It was the largest drop for a stock that went public in December with an IPO value of almost $9 billion. … [Read more...]
By Matt Gallagher, Red Herring Albeit remotely, Facebook CEO Mark Zuckerberg rang the opening bell on NASDAQ as its IPO debuted on the stock exchange. In pure hacker fashion, the world's youngest billionaire punched a remote control NASDAQ button from its offices in Palo Alto, following an all-night hackathon where Facebook employees tinkered on … [Read more...]