Dropbox, one of the most watched companies in Silicon Valley, officially announced on Monday that it raised an astounding $250 million in a Series B round led by Index Ventures, reportedly valuing the virtual file cabinet company at a whopping $4 billion. This massive round stands in contrast to the first bit of money raised — about $7 million – from early investors including Sequoia Partners, Accel Partners, and Hadi and Ali Partovi.*
Founded in 2007, Dropbox is virtual storage that allows consumers to access documents, photos and videos from several devices. So if you happen to snap a picture on your Android operated phone and store it to your Dropbox, you can pull that same photo on your iPad or laptop, for example. It eliminates the need for thumb drives or even email as long as you download a storage box on each device.
(Reuters) – Gannett Co (GCI.N: Quote, Profile, Research, Stock Buzz) reported a severe decline in advertising revenue at its newspaper division, pointing to a pullback in consumer and business spending.
While the broadcasting and newspaper company met Wall Street’s revenue and profit expectations, investors sent shares down 7.8 percent to $10.09 in Monday morning trade on concerns of Gannett’s deteriorating newspaper business.
NEW YORK (Reuters) – AOL Inc CEO Tim Armstrong has been meeting with top shareholders in the past couple of weeks to push the idea of a sale to Yahoo Inc that could wring up to $1.5 billion of cost savings, according to sources with knowledge of the discussions.
While Yahoo’s own strategic review has bumped AOL to the back burner for many on Wall Street, Armstrong is still trying to drum up shareholder support for a deal with Yahoo, presenting it as an alternative to going it alone as an Internet media company.
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.
Udemy plans to use the money for hiring and marketing and biz development.
Udemy “the academy of you” offers 6,000 courses covering all sorts of hobby-related subjects like social marketing, how to build a iPhone app, and Art 100 in addition to more traditional topics like intro to psychology. About 90 percent of Udemy’s courses are free.
It’s early October in New York which means that Advertising Week, which kicked off on Monday, is officially in full churn. This year, the organizers of the conference that attracts all stripes from publishing outfits to retailers to ad agencies may as well have slugged the event Ladies Week given the number of companies pitching to women.
Specifically that would be AOL, Yahoo and Demand Media all of which launched in the past couple of days “premium” video channels catering to the women, and, by extension, consumer packaged goods companies looking for a means to place their online advertising dollars.
NEW YORK (Reuters) – Outpourings of public grief and appreciation swept the globe on Thursday after the death of Apple co-founder Steve Jobs.
Jobs, who touched the daily lives of countless millions of people through the Macintosh computer, iPod, iPhone and iPad, died on Wednesday at age 56 after a long battle with pancreatic cancer. He stepped down as Apple chief executive in August.
Jobs, who touched the daily lives of countless millions of
people through the Macintosh computer, iPod, iPhone and iPad,
died on Wednesday at age 56 after a long battle with pancreatic
cancer. He stepped down as Apple chief executive in August.
Sept 28 (Reuters) – Thomson Reuters Corp (TRI.TO: Quote, Profile, Research, Stock Buzz) (TRI.N: Quote, Profile, Research, Stock Buzz)
named Jim Smith as chief operating officer and said it would
merge its two main divisions, Markets and Professional, to
“capture operating efficiencies from scale”.
The changes come as the news and information company
undergoes a series of shakeups after disappointing revenue
growth in the Markets division, which accounts for about 59
percent of overall revenue.
(Reuters) – More than 700,000 people use the Financial Times’ Web-based mobile application to access news and other content, making it more popular than the version sold in Apple’s App Store.
The business newspaper, which is part of British publishing group Pearson Plc, made a gamble in June when it prepared to ditch the App Store with the introduction of its Web-based app.
NEW YORK (Reuters) – New York Times Co warned its third-quarter advertising revenue would drop by a larger-than-expected 8 percent, hurt by a pullback in real estate, help wanted and national auto ads.
New York Times Chief Executive Janet Robinson, speaking at a Goldman Sachs conference on Wednesday, cited tough economic conditions, saying advertisers were less confident about making upfront commitments.