LinkedIn, the social site for business professionals which attracts professionals and job seekers with 100 million worldwide members, is hoping to cash in with a public debut valuing the company at more than $3 billion.
Last week’s trading debut of Renren, one of the biggest social networking companies in China, is another indicator of investor interest in social media companies. Renren’s stock surged 28.6 percent in its May 4 debut.
The tantalizing prospect of finding the next Facebook, Groupon or Twitter is driving the biggest rush of venture capital since dot-com mania first boomed and then fizzled more than a decade ago, writes Jenny Harris and Jennifer Rogers. But characteristics of the current boom do set it apart. Online advertising and e-commerce are accepted as reliable revenue sources and there are more profitable young companies today, Harris and Rogers argue.
Apple overtook Google as the world’s most valuable brand, ending a four-year reign by the Internet search leader, according to a new study by global brands agency Millward Brown. Apple’s brand is now worth $153 billion, almost half Apple’s market capitalization, says the annual BrandZ study of the world’s top 100 brands. “Apple is breaking the rules in terms of its pricing model,” Millward Brown’s Peter Walshe told Reuters. “It’s doing what luxury brands do, where the higher price the brand is, the more it seems to underpin and reinforce the desire.”
Apple and magazine publisher Conde Nast reached a deal to offer the New Yorker on the iPad in the latest sign that relationships are improving between the technology company and content owners. Conde Nast said iPad editions of other magazines will also be available by subscription through Apple’s In-App Purchase system on the popular App Store. Titles including Vanity Fair, Glamour, Golf Digest, Allure, Wired, Self and GQ will be available in coming weeks.