Box files for IPO on the quiet
Fresh off a $100 million fundraise, Box has followed Twitter’s lead and filed discreetly for a public offering. Quartz first broke news of Box’s upcoming debut, citing an undisclosed source. The Dropbox competitor makes use of provisions under the JOBS Act, which allow companies with less than $1 billion in revenues annually to begin the IPO process off radar and away from the prying eyes of the public. Reports previously valued the company, best known for its enterprise-focused online storage services, at about $2 billion – $8 billion less than its primary opponent Dropbox.
A source told the media outlet that Los Gatos-based Box aims to go public in April, pending market conditions, and that their timeline has nothing to do with Dropbox. Although a spring IPO would most likely mean the storage company beats its rival to the public punch.
Google removes thorn from side
Google has unloaded Motorola Mobility onto Lenovo, which has bought the floundering handset business for a fragment of what Google paid for Motorola last year. The deal grants Google nearly $3 billion in cash, shares and a promissory note, as well as continued ownership of the bulk of Motorola Mobility’s patent portfolio. Google’s Q4 earnings give insight as to why the search and advertising behemoth might be pleased to see the back of the handset provider’s head.
Google’s fourth quarter revenues at $16.86 billion beat analyst expectations by more than $100 million dollars. But Q4 profits, at $12.01 non-GAAP earnings per share, disappointed. The company had taken a hit on Motorola Mobility, which posted a $386 million operating loss. Google bought Motorola Mobility for $12.5 billion in 2012; with hindsight some have called it a terrible investment. Luckily, it’s now someone else’s problem.
Microsoft to name Ballmer’s successor — and perhaps give Bill Gates a different role
The short list identifying candidates to follow in Steve Ballmer’s footsteps is reportedly at its shortest, with just one name remaining: that of Satya Nadella, current executive vice president of cloud and enterprise at the company. Nadella is an insider, having worked at Microsoft since 1992. But a new leader is not all Microsoft may get in the management shakeup, as Nadella reportedly hopes Bill Gates’ role will be recast at the corporation. A source told the Wall Street Journal Nadella has requested Gates “spend more time on technology and strategy,” and wants Gates for a counsellor to the top office. Expanded duties might draw Gates from his position as chairman of the board, which would leave the spot open, perhaps for John W. Thompson.
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Google moves forward with artificial intelligence, spends $400 million acquiring DeepMind Technologies
Publishing platform Medium raises $25 million in first outside capital funding from Silicon Valley elite