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Aug 8, 2014

Tango secondary financing values company at around $1.5 billion

SAN FRANCISCO, Aug 7 (Reuters) – Tango, the mobile messaging
company, is arranging a financing transaction that would value
its business at around $1.5 billion, roughly one-third more than
the valuation it received just five months ago, according to
three people familiar with the situation.

Tango’s transaction would involve early investors and
shareholders selling shares to Ukrainian-born billionaire Len
Blavatnik, who wishes to increase his stake, and potentially
others, according to one of the people. Blavatnik, who owns
Warner Music Group, first invested in Tango in 2011, when he led
a $42 million funding round that valued the company at $160
million.

Jul 31, 2014

Facebook mobile app to offer free, limited Internet in Zambia

SAN FRANCISCO (Reuters) – Facebook Inc is launching a mobile app that gives users in Zambia free access to a handful of online services on mobile phones, broadening an effort to boost Internet usage in underdeveloped countries.

The Internet.org app will offer, in partnership with wireless operator Airtel , more than a dozen services including online encyclopedia Wikipedia, websites devoted to weather, job listings and health information, as well as Facebook’s own social network and messaging service.

Jul 30, 2014

Insight – European regulators training sights on Google’s mobile software

BRUSSELS/SAN FRANCISCO (Reuters) – European regulators are preparing what could be a stern challenge to Google Inc’s mobile software business in the coming months after a nearly four-year investigation into the company’s Web search practices left rivals and European politicians dissatisfied.

Two sources with direct knowledge of the matter said that with a new antitrust chief taking over in November, European regulators are laying the groundwork for a case centred on whether Google abuses the 80 percent market share of its Android mobile operating system to promote services from maps to search.

Jul 30, 2014

European regulators training sights on Google’s mobile software

BRUSSELS/SAN FRANCISCO, July 30 (Reuters) – European
regulators are preparing what could be a stern challenge to
Google Inc’s mobile software business in the
coming months after a nearly four-year investigation into the
company’s Web search practices left rivals and European
politicians dissatisfied.

Two sources with direct knowledge of the matter said that
with a new antitrust chief taking over in November, European
regulators are laying the groundwork for a case centered on
whether Google abuses the 80 percent market share of its Android
mobile operating system to promote services from maps to search.

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.

    • 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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