Gerry's Feed
Oct 29, 2013

LinkedIn’s revenue tops Street but gives conservative forecast

SAN FRANCISCO, Oct 29 (Reuters) – LinkedIn Corp
announced strong user growth and better-than-expected third
quarter revenue of $393 million on Tuesday, a 56 percent jump
from a year ago, but issued a conservative revenue forecast for
the fourth quarter and fiscal 2013.

LinkedIn said it expected between $415 million and $420
million in sales for the final three months, lower than the $438
million expected by analysts polled by Thomson Reuters I/B/E/S.
Its full-year revenue estimates, although revised upward to $1.5
billion, also fell slightly short of Wall Street’s expectations.

Oct 24, 2013

Twitter IPO pegs valuation at modest $11 billion

SAN FRANCISCO (Reuters) – Seeking to avoid a repeat of Facebook Inc’s much-maligned public debut, Twitter Inc revealed more modest ambitions on Thursday, saying its initial public offering would raise up to $1.6 billion and value the company at up to $10.9 billion.

The valuation was more conservative than the $15 billion that some analysts had expected for the social media phenomenon.

Oct 24, 2013

Zynga hires chief operating officer with mobile expertise

SAN FRANCISCO, Oct 24 (Reuters) – Zynga Inc said on
Thursday it hired Clive Downie, an executive from a mobile
gaming company, to be its new chief operating officer overseeing
mobile game distribution and other business functions.

The game publisher, which once enjoyed outsized sales from
popular PC-based games such as FarmVille, has sought to regain
its financial footing by introducing titles that can be played
on smartphones and tablets, the increasingly preferred format
for casual gamers.

Oct 23, 2013

Pinterest valued at $3.8 billion in hefty financing deal

SAN FRANCISCO (Reuters) – Pinterest has won a $225 million round of equity funding that values the virtual scrapbooking company at $3.8 billion, two people with knowledge of the investment said Wednesday.

The deal, led by Fidelity Investments, makes Pinterest one of the most valuable privately held consumer Internet companies just 2-1/2 years after it secured its first round of venture capital financing in May of 2011.

Oct 22, 2013

Google unveils services promoting free expression

SAN FRANCISCO (Reuters) – Google Inc will begin to shield news organizations and human rights groups from cyberattacks as part of a new package of services designed to support “free expression” on the Web, the internet giant said Monday.

At a presentation in New York, the company also unveiled a new technology called uProxy that allows citizens under some regimes to bypass government censorship or surveillance software to surf the Web. The software will be available for Google’s Chrome browser and Firefox but not for rival Microsoft Corp’s Internet Explorer, at least initially.

Oct 16, 2013

Twitter picks NYSE for IPO even as losses widen

SAN FRANCISCO (Reuters) – Twitter Inc revealed on Tuesday a tripling in quarterly losses as it prepares to list on the New York Stock Exchange in one of the year’s most anticipated IPOs.

The online messaging service’s decision to go with the older exchange deals a blow to the tech-heavy Nasdaq, which bungled Facebook Inc’s 2012 offering. Twitter is now expected to kick off its investor roadshow on October 28 where it will pitch its offering to Wall Street before shares start trade in mid-November, two sources familiar with the situation said Tuesday.

Oct 15, 2013

Twitter picks NYSE as quarterly results affirm IPO hopes

SAN FRANCISCO (Reuters) – Twitter Inc will list on the New York Stock Exchange, a marquee IPO win that deals a blow to the tech-heavy Nasdaq which bungled rival Facebook’s initial public offering.

In an amended IPO filing on Tuesday, Twitter also showed that it sustained its pace of revenue and user expansion in the just-ended third quarter, affirmation for investors hoping to capitalize on the sizzling growth of the messaging service.

Oct 15, 2013

Twitter to list on NYSE, more than doubles quarterly revenue

SAN FRANCISCO (Reuters) – Social networking website Twitter Inc (IPO-TWTR.N: Quote, Profile, Research) said on Tuesday it would list its stock on the New York Stock Exchange, dealing a blow to the tech-heavy Nasdaq which bungled rival Facebook’s (FB.O: Quote, Profile, Research) initial public offering.

In an amended IPO filing, Twitter updated its financials and user figures along with expanded details of investors.

Oct 9, 2013

Accommodation renter Airbnb fights NY State subpoena on sublets

SAN FRANCISCO, Oct 9 (Reuters) – Airbnb, the room-rental
service, went to court Wednesday to block a subpoena from the
New York Attorney General seeking information on more than
15,000 tenants who rent out their rooms on the popular website.

The subpoena would be difficult for the company to comply
with because it covers data from hundreds of thousands of
separate records, the company told the New York State Supreme
Court in a filing.

Oct 8, 2013

Insight: At Twitter, global growth tests free speech advocacy

SAN FRANCISCO (Reuters) – When a Brazilian state prosecutor last year set out to silence anonymous Twitter messages that were revealing the location of drunk-driving checkpoints, he served the social media company’s just-opened Sao Paolo office with a lawsuit.

Sharing sightings of police checkpoints does not violate any rules set by Twitter Inc, which has far fewer restrictions on content than social media rivals such as Facebook Inc. Nor would such Tweets be a crime in the United States. Twitter has traditionally resisted efforts to obtain the identity of users whose words might be regarded as a crime.