Alistair's Feed
Jul 6, 2013

One killed, over 20 injured as South Korean airliner crashes in San Francisco

SAN FRANCISCO (Reuters) – An Asiana Airlines Boeing 777 with more than 300 people on board crashed on Saturday while landing at San Francisco airport after a flight from Seoul and burst into flames, and a South Korean official said one person was killed and 20-30 injured.

Pictures taken immediately after the crash showed passengers streaming off the plane. TV footage from the air later showed the badly damaged fuselage of the Boeing 777 blackened by fire.

Jul 3, 2013

For online lenders, Wall Street cash brings growth and risk

SAN FRANCISCO (Reuters) – Institutional investors are tripping over themselves to buy so-called peer-to-peer loans offered by a new breed of Internet lending companies, a development that could transform the nascent sector into significant player in the credit markets.

P2P lending, as it is known, started in 2006 with the founding of Lending Club and Prosper Marketplace. Back then, the idea was to match individual borrowers with small investors looking to lend as little as $25.

Jun 27, 2013

Payment provider Square scraps gift card service

SAN FRANCISCO (Reuters) – Payment start-up Square Inc scrapped its gift card service less than a year after it launched the effort.

“Square gift cards were a fun way to send gifts from local businesses to anyone over the holiday season,” a Square spokesman said on Thursday. “They are no longer available for purchase.”

Jun 25, 2013

Ad tech firms face tough Wall Street audience with IPO pitches

By Olivia Oran and Alistair Barr

(Reuters) – A slew of advertising technology businesses are preparing for their toughest pitch yet: persuading investors to buy their stock in initial public offerings later this year.

Trouble is, some investors are dubious because it is hard to tell whether any company has a real technological edge. Ad tech companies that have gone public in the past do not inspire confidence either, with stocks of several down sharply since their debuts.

Jun 20, 2013

Data mining puts cloud security back on agenda

SAN FRANCISCO, June 19 (Reuters) – Concerns about security
in the cloud are flaring anew after recent revelations about
government data-mining, likely spurring new technology to
protect corporate and consumer information, according to a panel
of cloud experts.

Reports that the U.S. National Security Agency (NSA)
secretly gathers user data from nine big Internet companies,
including Microsoft Corp and Google Inc, have
dented confidence in cloud computing, especially among customers
outside the United States.

Jun 19, 2013

Reuters Summit – IPO? No thanks, say Silicon Valley CEOs

SAN FRANCISCO (Reuters) – The Silicon Valley IPO has lost its cachet, and big investors need to pay attention.

That’s the view of two prominent startup chief executives awash in offers of private investment, who don’t think the headache of going public is worth the effort.

Jun 19, 2013

IPO? No thanks, say Silicon Valley CEOs

SAN FRANCISCO (Reuters) – The Silicon Valley IPO has lost its cachet, and big investors need to pay attention.

That’s the view of two prominent startup chief executives awash in offers of private investment, who don’t think the headache of going public is worth the effort.

Jun 18, 2013

Silicon Valley elite discuss IPO alternatives

SAN FRANCISCO, June 18 (Reuters) – Silicon Valley executives
and investors gathered on Tuesday at the Reuters Technology
Summit in San Francisco to discuss whether new sources of
private financing have dimmed the allure of an initial public
offering.

Below are highlights from the event.

Dave Goldberg, CEO of SurveyMonkey

“There are a lot of good reasons to go public. Capital at
low cost, a currency for acquisitions and exposure for the
business. Liquidity for investors and employees. We have a very
well-known brand. Customers use our product for free or for a
low annual subscription. It would not help us as much as other
companies. There is deep strength in private equity markets
these days. There wasn’t that capital there before.

Jun 17, 2013

Trulia eyes revenue from rental business

SAN FRANCISCO (Reuters) – Online real estate company Trulia Inc (TRLA.N: Quote, Profile, Research, Stock Buzz) is considering ways to generate revenue from its fast-growing rental business, possibly by introducing listing fees, Chief Executive Pete Flint told the Reuters Global Technology Summit on Monday.

Trulia’s rental business is growing at about 100 percent a year and that is almost entirely on mobile devices such as smartphones and tablet computers, the CEO said at the summit in San Francisco.

Jun 17, 2013

Ebay CEO confident of getting China payments license

SAN FRANCISCO (Reuters) – Ebay Inc (EBAY.O: Quote, Profile, Research, Stock Buzz) will become the first foreign company to secure a financial payments license in China, CEO John Donahoe predicted, but the retailer is refraining from competing in the more aggressive and local-dominated retail sales sector.

Donahoe sees “encouraging signs” from the Chinese authorities, but said it remained next-to-impossible to guess when its fast-growing PayPal unit will finally get the green light to operate in the world’s second largest economy, he told the Reuters Global Technology Summit on Monday. (For a video of the interview, click on reut.rs/11FgUSQ)