SAN FRANCISCO (Reuters) – Video game maker Zynga Inc said on Thursday it would slash its workforce by 15 percent and posted a narrower-than expected quarterly loss, sending shares up 20 percent.
The San Francisco-based game company, known for its “Farmville” game, is expected to cut about 314 jobs as part of an expanded cost savings plan, the company said.
The privately held Chinese online marketplace posted 51 percent revenue growth during the July-September quarter compared with a year prior, the lowest rate in three quarters, while margins shrank for the second consecutive period. But it swung from a loss one year ago to $792 million in net income ahead of what is billed as the biggest initial public offering since Facebook Inc’s (FB.O: Quote, Profile, Research, Stock Buzz) 2012 float.
SAN FRANCISCO (Reuters) – Stripe Inc has joined the billion-dollar club.
The online payment-processing startup announced Wednesday it raised $80 million from venture capital investors in a deal that values Stripe at a hefty $1.75 billion.
The transaction places the 90-person firm in the rarefied company of startups valued at more than $1 billion just three years after brothers Patrick and John Collison, now ages 25 and 23, debuted their service.
LAS VEGAS, Jan 10 (Reuters) – LG Electronics executive
Frank Lee bounded onto a Las Vegas stage this week
to show off a new phone for the U.S. market, the 6-inch G-Flex,
which boasts a curved screen.
Two hours later, in another room at the same hotel, Huawei
Technologies’ Richard Yu unveiled the razor-thin Ascend
Mate II, bragging it had a battery life of nearly two days.
LAS VEGAS/SAN FRANCISCO, Jan 7 (Reuters) – Yahoo Inc
Chief Executive Marissa Mayer unveiled a handful of new
products, including a competitor to Google Inc’s
predictive search technology for smartphones, in a debut
appearance at the Consumer Electronics Show that drew a big
The former Google executive who took the reins at Yahoo in
the summer of 2012, has moved aggressively to revamp the
struggling Internet company’s business with product makeovers,
acquisitions and a renewed focus on its media offerings.
SAN FRANCISCO (Reuters) – Snapchat, the red-hot private messaging service, said on Thursday that it knew for months about a security loophole that allowed hackers this week to harvest millions of phone numbers and announced changes to its systems.
An anonymous group called Snapchat DB posted the usernames and phone numbers of 4.6 million Snapchat users on New Year’s Eve, days after the startup – headed by 23-year old founder Evan Spiegel – brushed off warnings that its app still contained security loopholes.
SAN FRANCISCO, Jan 2 (Reuters) – Veteran technology
journalists Walt Mossberg and Kara Swisher have unveiled
“Re/code,” a technology news site and conference business to
succeed AllThingsD which they founded and built into a premier
tech media brand within News Corp.
Mossberg and Swisher, who agreed in September to sever a
10-year relationship with News Corp, said on Thursday their new
venture will be backed by Comcast’s NBCUniversal and
Windsor Media, the investment company headed by former Yahoo!
Inc Chief Executive Terry Semel.
SAN FRANCISCO (Reuters) – Social news hub Reddit snagged an interview with Barack Obama last year. The big get for 2013 was reaching 90 million unique visitors a month, according to the company, on par with the likes of eBay. This season, even Microsoft co-founder and philanthropist Bill Gates joined its Secret Santa gift exchange.
Now, the self-dubbed “Front Page of the Internet” is going for a milestone it has been trying to reach since its founding in 2005: profitability.
SAN FRANCISCO, Dec 12 (Reuters) – Twitter Inc was
forced to nix a change to its “block” feature on Thursday after
attracting a wave of protest from users who said the new policy
empowered perpetrators of online abuse.
The humbling reversal on one of the most sensitive policy
issues facing the social network came as Twitter encountered
user revolt for the first time as a public company.
SAN FRANCISCO (Reuters) – Twitter Inc encountered a user revolt for the first time as a public company after it tweaked its “block” function on Thursday, prompting an outcry from those who said the new policy empowered perpetrators of online abuse.
Users could previously prevent their harrassers from following them or interacting with their tweets. Under the new rules, a blocked user can view or tweet at the person who blocked him or her, but that activity will be rendered invisible to the victim as if the offending account did not exist.