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.
Google’s Larry Page took the reins after a decade of “adult supervision” for Google under Eric Schmidt, as the outgoing CEO called it. The switch comes as mobile gadgets are redefining the way people use the Internet and Google’s main ad business is under threat from fast-growing upstarts such as Facebook and Groupon. Page has yet to make his battle plan public, but industry insiders and analysts expect he will try to shore up Google’s strength in search and mobile while breaking into a red-hot social networking market that has eluded his company.
Fresh off a recent $9.6 million funding round, Cooliris is launching a new app that aims to re-invent the old-fashioned product catalog for the iPad generation.
Call it the Ad Bowl. Or the Buzz Bowl. Or the BS Bowl. Doesn’t matter, it all boils down to this: Sunday’s Super Bowl is the biggest day of the year for advertisers, some of which dished out $3 million for the chance to reach an audience of 100 million consumers for 30 seconds. At that price — $100,000 a second — the stakes are high. A good commercial can be a triumph, creating just the kind of water-cooler talk that propels a brand to a new level with consumers. A bad commercial? Well, those behind it better start dusting off the old resume.
The East Coast has been buried in copious amounts of snow this winter. In Silicon Valley, the only thing falling from the sky seems to be money.
When a company has a lot of cash and not so many new sources of revenue, it can be tempting to buy its way into new markets. But such a strategy has its risks, which are best illustrated by ill-fated acquisitions like eBay’s $3.1 billion purchase of Skype in 2005. eBay ended up taking a writedown for the deal and sold off two-thirds of the company at a $2.75 billion valuation four years after the purchase.
Kara Swisher at AllThingsD is hearing that Google is in talks to buy the online-deal-of-the-day startup Groupon, citing multiple “sources close to the situation.” It’s easy to imagine why Google would be interested in this acquisition. Groupon not only stands at the intersection of the social web and local commerce, two areas Google is eager to expand into. It’s also a bonafide success, with 20 million users in hundreds of U.S. cities.