Online coupon company Groupon filed for an initial public offering of up to $750 million, the latest in a series of Internet companies to tap the U.S. capital markets. In April, a source told Reuters that Groupon could raise as much as $1 billion in the IPO, which could value the fast-growing daily deals site at $15 billion to $20 billion. The IPO filing did not specify the number of shares to be sold in the IPO, the price range, or the exchange, though it did say the shares would trade under the symbol “GRPN.”
Google’s stunning 54 percent spending surge spooked investors already worried its new CEO Larry Page may take his eye off the bottom line to chase revenue growth, driving its shares more than 5 percent lower. Investors zeroed in on the stunning surge in expenses to $2.84 billion, which dwarfed a 29 percent jump in net revenue and reflected a record hiring spree, company-wide salary raises, and splurging on everything from marketing to technology. “If the expenses are targeted and result in future revenue streams, then good for Larry. If not, that results in an undisciplined spending approach”, said Colin Gillis, analyst at BGC Partners.
Chinese Internet holding company Tencent, Myspace founder Chris De Wolfe and Myspace’s current management team are among the 20 odd names kicking the tires at the once might social network to see whether it’s worth buying outright or partnering in some sort of spin-out with current owner News Corp.
Big splashy action movies from the U.S. usually play well abroad. It should come then as no surprise that World Wrestling Entertainment, known for hulky dudes and toned ladies who act out soap opera scenarios both in and out of the ring, manages to find fans well beyond these borders.
from Reuters Investigates:
In Mongolia's South Gobi desert lies Oyu Tolgoi, touted as having the world's largest untapped copper and gold deposits. Little wonder then that this "El Dorado" has become a boardroom battleground between the relatively unknown Ivanhoe Mines and its biggest shareholder, the giant Australian mining company, Rio Tinto.
Hey you Mr. Privacy Nut,
Google co-founder Larry Page has a message for you: Stop worrying about how data about your Web searching habits might be abused. Your search data is there to serve a greater good.
Apple has identified 17 “core” violations in an audit of suppliers that scrutinized 102 of the facilities where iPods, iPhones and Mac computers are produced.
You can find the clearest statement about what’s happening with Google and its threat to quit China over the country’s human rights record in Xinhua, China’s state-run news service — seriously.
Apple’s iPhone launched in China last Friday with plenty of fanfare, but the sales numbers so far appear a little light. China Unicom, the iPhone’s carrier in the country, said Tuesday it has signed up 5,000 iPhone subscribers since the launch, below what some analysts were expecting.