Groupon co-founders Eric Lefkofsky and Brad Keywell have invested in online educational site (with one complicate name) Udemy through their venture capital fund Lightbank. Udemy just announced a $3 million Series A round of financing led by Lightbank that also includes funding from MHS Capital and 500 Startups.
It’s no secret that Samsung’s flagship Galaxy smartphones are leading the Android-powered pack of handsets. What may be less obvious is just how quickly the company is closing in on Apple’s title of world’s biggest smartphone vendor in unit terms. Samsung announced on Friday it expects its third-quarter profit to top even the most bullish market forecasts, driven in large part by booming smartphone sales. “The Galaxy S II probably played a key role in boosting the company’s earnings and it will continue to do so pretty much unchallenged, until Apple unveils a better new version of iPhone,” said Kyung Woo-hyun, a fund manager at Daishin Asset Management.
Amazon.com Inc introduced its eagerly awaited tablet computer on Wednesday with a price tag that could make it the first strong competitor in a tablet market that has been dominated by Apple Inc’s iPad. The new device, priced at $199, may have the biggest impact on other makers of tablets and e-readers, such as Samsung Electronics Co Ltd and Barnes & Noble Inc, maker of the Nook.
There’s a new video streaming service on the block and it comes courtesy of an old, familiar name – Blockbuster. Blockbuster unveiled the video streaming service to subscribers of satellite provider Dish Network, which now owns Blockbuster, in a move to better compete against video rental giant Netflix and to lure customers from rival cable and satellite TV providers. Non-Dish subscribers will have to wait until Blockbuster launches a broader online streaming plan later this year, the company’s president told Reuters.
Groupon called off an IPO roadshow slated for next week because of market volatility, the Wall Street Journal reported. The Internet coupons site is reassessing the timing for an offering on a week-by-week basis, the newspaper added, citing an unidentified source. Some on Wall Street have questioned Groupon’s financial disclosures, while others are concerned the company’s rapid growth is starting to slow in North America. Groupon CEO Andrew Mason sent a memo to employees recently that was widely reported in the media, in which he blasted critics in the press and on Wall Street.
Loyal Sprint customers keen to finally hop on the iPhone bandwagon could be in luck come this fall. The third-largest U.S. wireless carrier will begin offering the iPhone 5 to customers in mid-October, the Wall Street Journal reported on Tuesday, citing unnamed sources. It will be the first version of the popular Apple smartphone to be sold by the company. AT&T and Verizon, already iPhone vedors, will also start selling the new model around the same time, according to the story.
Cisco Systems Inc’s quarterly results edged past Wall Street’s scaled-back expectations as IT spending held up despite fears of a severe pullback, buoying its shares in extended trading. The world’s largest networking equipment maker reported sales of $11.2 billion in the fiscal fourth quarter, surpassing expectations for under $11 billion.
Apple jumped to the top of the global smartphone sales rankings in the second quarter, ending Nokia’s 15-year run as the lead smartphone vendor, according to new research from Strategy Analytics. Apple sold a record 20.3 million iPhones during the quarter, which amounts to about a fifth of the global smartphone market. Impressive considering its iPhone 4 model was released more than a year ago. Samsung also surpassed Nokia to claim second spot, with 17.5 percent of market share. Nokia fell to third place as its market share tumbled to 15.2 from 38.1 percent a year ago.