Alistair's Feed
Jun 1, 2012

Groupon shares drop as IPO lock-up ends

SAN FRANCISCO, June 1 (Reuters) – Groupon Inc (GRPN.O: Quote, Profile, Research)
slumped on Friday as an initial public offering lock-up on stock
sales by insiders of the world’s largest daily deal company
ended.

At one point the stock dropped more than 10 percent,
triggering a circuit breaker that paused trading briefly and
limited short sales.

May 31, 2012

Google unveils big changes to shopping business

SAN FRANCISCO (Reuters) – Google Inc unveiled major changes to its shopping business on Thursday that will likely prove controversial in the e-commerce world.

Starting in the fall, product search results for users in the United States will be influenced by how much retailers and advertisers pay, a company executive said. In the past, product search results were based mainly on relevance and the program was free.

May 31, 2012

LivingSocial signs partnership with Anschutz’s AEG

SAN FRANCISCO, May 31 (Reuters) – LivingSocial, the world’s
second-largest daily deal company, signed an exclusive
partnership with Philip Anschutz’s AEG business to offer members
access to live events run by the entertainment giant.

LivingSocial’s more than 60 million members will be able to
buy vouchers for AEG events and get access to unique packages,
such as VIP access or early admission at AEG venues, said Doug
Miller, senior vice president of new business initiatives at
LivingSocial.

May 29, 2012

Facebook shares plumb new depths, valuation questioned

SAN FRANCISCO, May 29 (Reuters) – Facebook Inc (FB.O: Quote, Profile, Research) shares
slid below $29 to a new low on Tuesday as nervous investors fled
the company’s shares, concerned about the social network’s
long-term business prospects and an initial offering price that
proved too rich.

Shares of the No. 1 social network fell 10 percent to an
all-time low of $28.65, before recovering slightly to $29.01.
Since its market debut on May 18, the eight-year-old company has
shed approximately $25 billion in value — roughly equivalent to
the market capitalization of Morgan Stanley (MS.N: Quote, Profile, Research), the lead
underwriter of Facebook’s IPO.

May 29, 2012

Facebook shares plumb new depths, below $30 a share

SAN FRANCISCO (Reuters) – Facebook Inc shares slid below $30 to a new low on Tuesday as nervous investors fled the company’s shares, concerned about the social network’s long-term growth prospects and an initial offering price that in retrospect may have been too rich.

Shares of Facebook fell nearly 9 percent to $29.05 in midafternoon trade, an all-time low. The eight-year-old company, which began life in Mark Zuckerberg’s dorm room, has now shed more than $20 billion in value since its controversial and glitch-ridden market debut at $38 on May 18.

May 29, 2012

Facebook shares plumb new depths

SAN FRANCISCO, May 29 (Reuters) – Shares of Facebook Inc
(FB.O: Quote, Profile, Research) slid to a new low on Tuesday at just above $30, extending
their losing streak since the controversial and glitch-ridden
market debut on May 18.

Stock of the world’s No. 1 social network briefly skirted a
record trough of $30.03 and was down 5.6 percent at $30.12 at
midmorning.

May 25, 2012

Groupon tests payments rival to PayPal, Square

SAN FRANCISCO, May 25 (Reuters) – Groupon Inc is
testing a payments service that lets merchants accept credit
cards at what could be a knock-down price, according to two
people familiar with the matter.

The move puts the world’s largest daily-deals company in
direct competition with eBay Inc’s PayPal, and start-up
Square Inc, partly owned by Visa Inc.

May 24, 2012

PayPal strikes deals with 15 retailers

SAN FRANCISCO, May 24 (Reuters) – PayPal unveiled deals with
15 retailers including Toys R Us, J C Penney and Barnes
& Noble, helping the online payment giant expand into
more physical stores.

The deals add to a pact with Home Depot, which began
accepting PayPal in about 2000 stores earlier this year.

May 24, 2012

PayPal strikes deals to get into more stores

SAN FRANCISCO (Reuters) – PayPal unveiled new deals on Thursday that may help the online payment giant expand into more physical stores.

PayPal, owned by eBay Inc (EBAY.O: Quote, Profile, Research, Stock Buzz), said it signed agreements with VeriFone Systems (PAY.N: Quote, Profile, Research, Stock Buzz) and Equinox Payments to get its payment technology on to their networks of checkout terminals.

May 23, 2012

Short sellers lining up to bet against Facebook

NEW YORK, May 22 (Reuters) – Short sellers desperate to bet
against Facebook shortly after its debut on public markets are
now getting their chance.

Shares of the much-anticipated IPO have fallen sharply since
they opened at $42.05 on Friday amid an initial flurry of
trading problems at the Nasdaq and after news that top
underwriters cut their revenue estimates just days before the
offering.