Alistair's Feed
May 14, 2013

Kabbage teams up with Intuit to expand its financing business

SAN FRANCISCO, May 14 (Reuters) – Kabbage, a start-up that
specializes in financing for small online merchants, has teamed
up with Intuit Inc to expand its service to
bricks-and-mortar businesses.

Kabbage said on Tuesday it will use data from QuickBooks,
Intuit’s accounting software, to make quick decisions on whether
to extend financing to businesses that use the software.

May 13, 2013

Amazon buys Liquavista from Samsung, launches digital currency

SAN FRANCISCO (Reuters) – Amazon.com Inc said on Monday it had acquired Liquavista NV from Samsung Electronics Co to help the world’s largest Internet retailer develop new displays for mobile devices.

Amazon also launched its own digital currency, Amazon Coins, on Monday, allowing people to buy apps and games in its app store and on its Kindle Fire tablet computers.

May 9, 2013

Groupon shows signs of life, shares surge

By Alistair Barr

(Reuters) – Groupon Inc’s quarterly revenue rose a faster-than-expected 7.5 percent after the company’s North American daily deals business turned in a strong performance, stirring hopes that the struggling company may have begun to turn things around.

Shares in the company, one of the most feted Internet market debutantes of 2011 before daily deals mania cooled, climbed almost 10 percent in after-hours trade. They have gained about 40 percent since the February ouster of co-founder and former CEO Andrew Mason, who was criticized for lacking the experience to run an increasingly global, public company.

May 8, 2013

Groupon quarterly results top estimates, shares jump

By Alistair Barr

(Reuters) – Groupon Inc reported better-than-expected quarterly profit and revenue on Wednesday as the company’s main daily deals business in North America turned in a strong performance.

Shares of Groupon, the world’s largest daily deal company, surged 12 percent to $6.24 in after-hours trading.

Apr 30, 2013

PayPal expands further into stores, but Wal-Mart holds out

SAN FRANCISCO, April 29 (Reuters) – PayPal is extending its
reach to more physical stores, having signed up 50 merchant
acquirers which help process payments but the eBay Inc
unit has yet to persuade Wal-Mart Stores Inc, the
world’s largest retailer.

PayPal’s expansion into brick-and-mortar stores gives the
company access to a market that is roughly ten times the size of
the online payments sector where it got its start over a decade
ago.

Apr 30, 2013

PayPal hits offline milestone, but Wal-Mart holds out

SAN FRANCISCO (Reuters) – PayPal hit a new milestone on Tuesday in its quest to be accepted in millions of physical stores, however, the payment division of eBay Inc has yet to persuade Wal-Mart Stores Inc, the world’s largest retailer, to sign up.

Discover Financial Services, PayPal’s offline partner, has signed contracts with 50 merchant acquirers, which will help extend PayPal’s in-store payment service to more than two million outlets in the United States by the end of 2013.

Apr 27, 2013

Growth concerns dog Amazon as it shores up digital beachhead

SAN FRANCISCO/NEW YORK (Reuters) – Amazon.com Inc’s stock sank 6 percent on Friday as a poor financial outlook revived concerns about whether the company can sustain its torrid pace of expansion while profitability improves.

The world’s largest Internet retailer on Thursday reported its highest gross profit margins in a decade as years of spending on high-margin businesses, from digital media to cloud services, began to pay off. But slower revenue growth and a disappointing outlook for this quarter exacerbated uncertainty about the its business beyond the United States.

Apr 26, 2013

LivingSocial cyber attack affects millions of customers

SAN FRANCISCO (Reuters) – LivingSocial, the second-largest daily deal company behind Groupon Inc, said on Friday that it was hit by a cyber attack that may have affected more than 50 million customers.

The company said the attack on its computer systems resulted in unauthorized access to customer data including names, email addresses, date of birth for some users, and “encrypted” passwords.

Apr 26, 2013

Goldman Sachs lines up $1.75 billion J.C. Penney loan: CNBC

By Alistair Barr and Dhanya Skariachan

(Reuters) – Goldman Sachs has arranged a $1.75 billion financing package for retailer J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz), backed by the department store chain’s real estate and other assets, CNBC reported on Friday.

Shares of the ailing retailer closed 11.5 percent higher at $17.00 after the CNBC report, having touched their highest levels in nearly two months. Penney spokesman Joey Thomas said the company does not comment on speculation or rumor.

Apr 26, 2013

Goldman Sachs lines up $1.75 bln J C Penney loan -CNBC

April 26 (Reuters) – Goldman Sachs has arranged a $1.75
billion financing package for retailer J.C. Penney Co Inc
, backed by the department store chain’s real estate and
other assets, CNBC reported on Friday.

Shares of the ailing retailer closed 11.5 percent higher at
$17.00 after the CNBC report, having touched their highest
levels in nearly two months. Penney spokesman Joey Thomas said
the company does not comment on speculation or rumor.