Internet

IPO + M&A Watch: Google, Rocket Internet, LinkedIn

IPO

IPO Rumors that the Gilt Groupe is preparing for a fall IPO were fueled this week by news that the company underwent a significant reorganization, which saw CMO Lizzie Francis and VP Jyothi Rao leave and several other employees lose their jobs. The New York-based designer e-commerce platform with over 6 million users most recently raised funds … [Read more...]

Amazon reports huge second quarter loss despite sales increase

amazon

Amazon announced a worse than expected loss for the second quarter of 2014 despite an increase in sales, as investments in a range of new products and services took their toll on profits. The world's largest online retailer posted a loss of $126 million, or $0.27 per share, which was wider than the $0.15 per share loss analysts had expected, … [Read more...]

NextNav secures $70m funding round – Investment Round Up

Money Sign

Seed funding Fixed, a mobile app which allows users to protest parking tickets, has raised $1.2 million in seed funding from Y Combinator, Merus Capital and other angel investors. Users can upload a photo of a parking ticket and evidence of why it was not properly issued, and Fixed will take the case to the local government. The company charges … [Read more...]

Facebook’s Q2 earnings send stock to all time high

facebook

Facebook stock reached an all time high on Wednesday, topping $75 a share after the company’s Q2 earnings report beat analyst expectations. The social media giant reported $2.9 billion in revenue, surpassing projections of $2.8 billion by analysts. The company also posted $791 million in net income - an increase of 61% compared to the same … [Read more...]

Hackathon to target North Korea’s ‘Hermit Kingdom’

Jan 15 Paju Launch-5

A two-day hackathon next month is aiming to bring more information to North Koreans. Hack North Korea, held in San Francisco between August 2 and 3, is hosted by New York-based NGO the Human Rights Foundation (HRF), and will pair Silicon Valley experts with defectors from the east Asian state, which is widely considered the most closed society on … [Read more...]

AppDynamics raises $120m at $1bn valuation – Investment Round Up

Money Sign

Series A SimpleReach, a content marketing startup, has raised a Series A round worth $9 million. MK Capital led the round, with participation from Atlas Venture, Village Ventures and High Peaks Venture Partners. SimpleReach was founded in 2010 and helps marketers and publishers effectively measure the value of content and adverts. The company … [Read more...]

Netflix crosses 50 million subscribers mark despite price hike

netflix

Netflix now has more than 50 million subscribers worldwide according to the company's quarterly earnings report released today. The content streaming website added 1.69 million users during the second quarter ending June 30, with 1.12 million new international subscribers and 570,000 additional U.S. members bringing the company’s total users to … [Read more...]

Urban Compass raises $40m – Investment Round Up

Money Sign

Series A The news that Yo has raised a Series A will do nothing to calm those fearing a tech bubble. The messaging app’s sole function is to send “Yo” back and forth between its users, but has secured $1.25 million in venture funding from Betaworks and Pete Cashmore (founder of Mashable). The financing values the company between $5 and $10 … [Read more...]

Google reports 22% revenue increase as Arora bids farewell

google

Google, Inc has reported modestly rising quarterly earnings for the second quarter of 2014. The tech giant earned $3.4 billion, or $4.99 per share, in the April-to-June period. The figures represent a slight increase on the $3.2 billion, or $4.77 per share, reported in the second quarter of last year. “We are moving forward with great product … [Read more...]

Microsoft to lay off 18,000 in biggest jobs cut

ms cuts

U.S. tech giant Microsoft is set to lay off 18,000 employees, according to an internal memo from its new CEO. Satya Nadella, who took over the reigns from longterm chief Steve Ballmer in February, admitted that Microsoft needs to be “leaner” alongside more streamlined rivals such as Apple and Google, Inc. Nadella added that the biggest hit would … [Read more...]