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Jul 23, 2014

Facebook beats Wall Street targets, stock hits record high

SAN FRANCISCO (Reuters) – Facebook Inc’s fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street’s financial targets and sending shares to a record-high in after-hours trading on Wednesday.

The world’s No.1 Internet social network said on Wednesday that it saw increased interest from both advertisers and from users during the second quarter.

Jul 18, 2014

Google’s reshuffle of executives underscores its growing ambitions

SAN FRANCISCO, July 17 (Reuters) – Google Inc’s
reshuffle of its senior ranks underscores the
Internet company’s evolving business ambitions, analysts say.

Four years after co-founder Larry Page took the reins back
as chief executive officer, his team of lieutenants is clearly
undergoing a refresh.

Jul 17, 2014

Google’s business chief departs for SoftBank in latest leadership change

SAN FRANCISCO (Reuters) – Google Inc’s chief business officer, one of Chief Executive Officer Larry Page’s key lieutenants and the company’s main liaison to Wall Street, is leaving the Internet search company, the latest high-ranking executive to depart.

Nikesh Arora, who joined Google nearly a decade ago, will move to Japan’s SoftBank Corp as vice chairman, according to a post by Page on the Google+ social network.

Jul 17, 2014

Facebook tests new ‘buy’ button for online purchases in U.S.

SAN FRANCISCO (Reuters) – Facebook Inc is testing a new “buy” button on its website that will let consumers purchase products that are advertised on its social network.

The new service, which Facebook described on Thursday as a test with a “few small and medium-sized businesses” in the United States, represents the Internet social networking company’s latest effort to play a bigger role in the e-commerce business.

Jul 16, 2014

Yahoo’s long goodbye with Alibaba takes heat off Mayer

SAN FRANCISCO, July 15 (Reuters) – Yahoo Inc cannot
seem to part ways with Alibaba (IPO-BABA.N: Quote, Profile, Research, Stock Buzz). And with Yahoo’s
business continuing to deteriorate, some Wall Street analysts
say it is hard to blame the company.

Yahoo said on Tuesday that it would keep a
bigger-than-expected chunk of its stake in Alibaba when the
Chinese e-commerce company goes public later this year.

Jul 16, 2014

Yahoo to keep more of Alibaba, share half of IPO proceeds

SAN FRANCISCO (Reuters) – Yahoo Inc pledged to pay its shareholders at least half the proceeds from Alibaba Group Holding Ltd’s mega-IPO this fall, and plans to keep a larger stake in the Chinese e-commerce company than expected.

Yahoo’s roughly 24 percent stake in the world’s largest Internet retailer is viewed on Wall Street as its most prized asset. On Tuesday, it said Alibaba had agreed to let Yahoo sell at most 140 million shares in the IPO, down from a previous cap of 208 million.

Jul 15, 2014

Yahoo amends deal with Alibaba, misses Wall St. revenue target

SAN FRANCISCO (Reuters) – Yahoo Inc will pay investors at least half the proceeds from its Alibaba share sale when the Chinese Internet retailer goes public, and retain a larger stake than expected, helping to offset the U.S. company’s disappointing results on Tuesday.

Shares of Yahoo were roughly flat at $35.57 in after-hours trading.

“What you see is the fundamentals at core Yahoo continue to deteriorate, but there’s at least some good news on the Alibaba front,” said Macquarie Research analyst Ben Schachter.

Jul 2, 2014

Facebook seeks India revenue boost with ‘missed call’ ads

SAN FRANCISCO, July 2 (Reuters) – Facebook Inc wants
its users in India to hang up on advertisers.

The Internet social networking company is testing a new type
of ad in the country that allows mobile phone users to click a
button that calls a brand advertiser, immediately hangs up and
then receives a return call.

Jul 1, 2014

Google buys music streaming service Songza

SAN FRANCISCO (Reuters) – Google Inc has acquired streaming music service Songza, the Internet search company’s latest move to play a bigger role in the fast-growing online music business.

Google said on Tuesday it would explore ways to incorporate aspects of Songza into its existing streaming music service over the coming months. For now the four-year-old Songza service, which creates “expert-curated” music playlists intended to match users’ activities and tastes, will remain unchanged for existing users.

Jun 30, 2014

Google to shut down social networking service Orkut in September

SAN FRANCISCO (Reuters) – Google Inc will shut down its early social-networking service, Orkut, which was launched ten years ago but has failed to put Google ahead in what has become one of the Web’s most popular businesses.

Google said it will shut down Orkut, which is widely used in Brazil and India but hasn’t caught on more broadly, on Sept. 30, to focus on its other social networking initiatives.

    • About Alexei

      "I write about Internet companies including Google, Yahoo and Facebook. I’ve covered technology and business for more than ten years at publications including TheStreet.com, CNET and The Industry Standard magazine."
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