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...]
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...]
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...]
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, … [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...]
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 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...]
By MATT GALLAGHER, Red Herring Harnessing the power of ammonia, Ductor hopes to revolutionize both garden farming and gas tanks by the end of this summer. The company is developing what it claims to be the world’s first industrial scale ammonia and phosphate production technology based on a 100 percent biological process that actually … [Read more...]
It cost Netflix about $1.5 million in lobbying money to convince Congress to legalize sharing what you watch on your Facebook wall. Last week, just a day before the death of the judge whose congressional nomination inspired the legislation, the Senate voted to relax the Video Privacy Protection Act passed in 1988 that had prohibited video … [Read more...]