Alexei's Feed
Nov 12, 2012

Groupon fights for its life as daily deals fade

CHICAGO/SAN FRANCISCO (Reuters) – Groupon and its compatriots in the much-hyped daily deals business were supposed to change the very nature of small-business advertising. Instead, it is the daily deal vendors that are racing to change as evidence mounts that their business model is fundamentally flawed.

Groupon last week reported another quarter of disappointing earnings as its core business stagnated, sending its stock down 30 percent to an all-time low of $2.76. Its biggest rival, Living Social, is piling up losses, and part-owner Amazon.com (AMZN.O: Quote, Profile, Research) earlier this month recorded a quarterly loss after writing down its Living Social investment.

Nov 12, 2012

Analysis: Groupon fights for its life as daily deals fade

CHICAGO/SAN FRANCISCO (Reuters) – Groupon and its compatriots in the much-hyped daily deals business were supposed to change the very nature of small-business advertising. Instead, it is the daily deal vendors that are racing to change as evidence mounts that their business model is fundamentally flawed.

Groupon last week reported another quarter of disappointing earnings as its core business stagnated, sending its stock down 30 percent to an all-time low of $2.76. Its biggest rival, Living Social, is piling up losses, and part-owner Amazon.com earlier this month recorded a quarterly loss after writing down its Living Social investment.

Nov 5, 2012

U.S. judge tosses Apple vs. Google lawsuit over patents

By Dan Levine and Alexei Oreskovic

(Reuters) – An Apple’s lawsuit against Google’s Motorola Mobility unit over alleged patent abuse was thrown out on Monday just hours before trial, a setback for the iPhone maker in its efforts to gain leverage in the smartphone patent wars.

The two rivals were set to square off in a Madison, Wisconsin federal court over the library of patents Google Inc acquired along with Motorola for $12.5 billion in May. Apple Inc claimed Motorola’s licensing practices were unfair.

Nov 2, 2012

Facebook’s Sandberg sells $7.4 million in stock

SAN FRANCISCO (Reuters) – Facebook Inc Chief Operating Officer Sheryl Sandberg and two other executives at the social networking company sold millions of dollars worth of stock this week as restrictions on insider trading expired.

Sandberg netted about $7.44 million by selling roughly 353,000 Facebook shares on Wednesday, according to a filing with the SEC on Friday. Sandberg still owns 18.1 million vested shares of Facebook stock, according to the filing.

Nov 2, 2012

Google’s Android software in 3 out of 4 smartphones

SAN FRANCISCO (Reuters) – Three out of every four smartphones sold in the third quarter featured Google Inc’s Android mobile operating system, as the gap between Google and Apple Inc-based phones widened further, according to a new research report.

Shipments of Android-based smartphones made by Samsung, HTC and other vendors nearly doubled in the third quarter, reaching 136 million units, according to industry research firm IDC. The strong sales boosted Android’s share of the worldwide smartphone market to 75 percent, from 57.5 percent in the year-ago period.

Nov 1, 2012

LinkedIn beats expectations, raises full-year rev view

By Alexei Oreskovic

(Reuters) – Professional social network LinkedIn Corp topped Wall Street’s third-quarter profit and revenue targets, as advertising rates increased and sales from its hiring services nearly doubled.

Shares of LinkedIn gained nearly 8 percent to $115.15 in after-hours trading on Thursday, as the company extended its streak of beating analyst expectations every quarter since its May 2011 initial public offering.

Oct 31, 2012

Facebook shares fall as lock-up period expires

By Alexei Oreskovic

(Reuters) – Facebook Inc shares fell nearly 4 percent in busy trade on Wednesday as the company allowed employees to start selling roughly 230 million shares less than six months after its rocky market debut.

The world’s largest social network waived a provision that prevented employees from selling shares until November 14, making Facebook shares worth about $5 billion at current prices eligible for sale in the public market.

Oct 29, 2012

Sandy foils Facebook staffers’ long-awaited stock sales

SAN FRANCISCO, Oct 29 (Reuters) – Facebook Inc’s
Silicon Valley headquarters are far away from the eye of
Hurricane Sandy, yet for employees of the social networking
company, the storm hit home.

After nearly six months of watching helplessly as the value
of Facebook’s stock crumbled, Facebook employees finally got the
greenlight to cash in some of their stock on Monday as the
“lock-up” on trading them expired.

Oct 29, 2012

Google unveils first 10-inch Nexus tablet

SAN FRANCISCO (Reuters) – Google Inc unveiled a larger version of its Nexus-branded tablet computer on Monday, and updated its mobile gadget and online content offerings as competition with Apple Inc, Amazon.com Inc and Microsoft Corp heats up ahead of the holiday sales season.

The device follows a spate of new product launches by the technology leaders in recent weeks, including Apple’s iPad Mini last week and software-maker Microsoft’s first-ever home-built tablet, the Surface.

Oct 27, 2012

Star Silicon Valley analyst felled by Facebook IPO fallout

SAN FRANCISCO (Reuters) – The firing of Citigroup stock analyst Mark Mahaney on Friday in the regulatory fallout from Facebook Inc’s initial public offering was greeted with shock and dismay in Silicon Valley, where Mahaney was a well-known and well-liked figure.

“Pretty shocked,” was the reaction of Jacob Funds Chief Executive Ryan Jacob, who described Mahaney as one of the most respected financial analysts covering the Internet industry.

    • 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."
    • Follow Alexei