Tech wrap: Groupon goes public, super nova

November 4, 2011

Shares of daily deals site Groupon rose more than 50 percent in their stock market debut, but at least some of the early trading exuberance may have come from limiting the fraction of the company that was sold. The shares rose as high as $31.14, or 55.7 percent above the IPO price, in early trading on the Nasdaq, at one point pushing the market value of the company up to $19.9 billion.  The shares later eased back, closing at $26.11. Despite the early success, there are still lingering questions about Groupon’s business model and about competition from better-funded rivals such as Amazon.com and Google.

Tech wrap: U.S. spies Chinese and Russian cyber spies

November 3, 2011

China and Russia are using cyber espionage to steal U.S. trade and technology secrets to bolster their own economic development, which poses a threat to U.S. prosperity and security, a U.S. intelligence report titled “Foreign Spies Stealing U.S. Economic Secrets in Cyberspace,” said. Intelligence services, private companies, academic institutions and citizens of dozens of countries target the United States, the report said. But it only named China and Russia. “Chinese actors are the world’s most active and persistent perpetrators of economic espionage,” the report said.