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