Sarah's Feed
Oct 13, 2013

Twitter pays engineer $10 million as Silicon Valley tussles for talent

SAN FRANCISCO (Reuters) – Among Twitter Inc’s highest-paid executives, Christopher Fry’s name stands out.

The senior vice president of engineering raked in $10.3 million last year, just behind Twitter Chief Executive Dick Costolo’s $11.5 million, according to Twitter’s IPO documents. That is more than the paychecks of executives such as Chief Technology Officer Adam Messinger, Chief Financial Officer Mike Gupta and Chief Operating Officer Ali Rowghani.

Oct 7, 2013

Airbnb says New York probe risks customers’ privacy

SAN FRANCISCO, Oct 7 (Reuters) – Airbnb, a red hot online
accommodations service, may have to disclose user data to the
government, possibly to the detriment of its customers’ privacy
and its own business prospects.

On Friday New York State Attorney General Eric Schneiderman
sent Airbnb a subpoena requesting host data from New York users
of the service, which connects vacationers and others with
people wishing to rent out their homes, apartments and other
living spaces to short-term guests.

Oct 4, 2013

Mario’s Tweets: Twitter celebrity name-dropping reflect novel IPO risk

SAN FRANCISCO (Reuters) – Celebrity chef Mario Batali landed on a new promotional platform this week, one that was regulatory rather than razzle-dazzle: the opening pages of Twitter’s 234-page document on its initial public offering.

In a prominently featured screen shot of tweets where the American chef offered cooking tips alongside British rock musician Gavin Rossdale, the company showcased the way people express themselves on the online messaging service.

Oct 3, 2013

Factbox: Who will get rich from Twitter’s IPO?

By Sarah McBride

(Reuters) – Just about everyone in Silicon Valley has dreamed of striking it rich with a well-timed investment. Analysts estimate that when Twitter debuts on public markets, its valuation will hit around $10 billion. Here is a list of the number of shares owned by some of the people and investment firms that will benefit the most from Twitter’s initial public offering:

Executive officers and directors:

Evan Williams 56,909,847 shares, or 12 percent. Williams was Twitter’s CEO until 2010, when current CEO Dick Costolo took the helm. He is now working on a publishing platform, Medium, which is dedicated to long-form content.

Oct 3, 2013

Who will get rich from Twitter’s IPO?

Oct 3 (Reuters) – Just about everyone in Silicon Valley has
dreamed of striking it rich with a well-timed investment.
Analysts estimate that when Twitter debuts on public markets,
its valuation will hit around $10 billion. Here is a list of the
number of shares owned by some of the people and investment
firms that will benefit the most from Twitter’s initial public
offering:

Executive officers and directors:

Evan Williams 56,909,847 shares, or 12 percent. Williams was
Twitter’s CEO until 2010, when current CEO Dick Costolo took the
helm. He is now working on a publishing platform, Medium, which
is dedicated to long-form content.

Oct 3, 2013

A host of angels flock to a syndicate site for venture capital

SAN FRANCISCO (Reuters) – Over a sushi lunch on Monday in downtown Boulder, Colorado, venture capitalists at early-stage investment fund Foundry Group decided to act on an initiative that aims to admit more than the usual foundations and university endowments to the VC clubhouse.

Last week, a change in federal regulations allowed AngelList, a site that has connected startups with potential investors since 2010, to let its companies and their backers publicly solicit funding. AngelList took the wraps off a program that Foundry and many others have embraced: syndicates that comprise large groups of individual investors.

Oct 2, 2013

SAP launches $650 million fund, highlights corporate venture growth

SAN FRANCISCO (Reuters) – Software giant SAP AG said it is allocating more than $650 million to a new venture fund, SAP Ventures Fund II, showing the growing role that corporations are taking on in funding the world’s youngest companies.

Investing cash into start-ups via corporate venture arms is increasingly popular among big companies, while providing more competition to traditional venture capitalists. Some 10.9 percent of venture dollars came from corporations in the first half of this year, according to the National Venture Capital Association, up from 8.4 percent for all of last year and 7.7 percent in 2011.

Oct 1, 2013

Venture-backed IPOs and M&A activity decline in value

SAN FRANCISCO (Reuters) – Average sizes of both initial public offerings and acquisition prices dropped for venture-backed companies last quarter as some companies battled a tough environment in their sector and others faced outsized comparisons from a year earlier.

Data from the National Venture Capital Association and Thomson Reuters showed 26 venture-backed companies held IPOs last quarter, more any quarter since the final three months of 2010, but the average offer amount dropped by 10 percent from a year ago to $103 million.

Sep 25, 2013

Shackles drop off fundraising for startups. Should we worry?

SAN FRANCISCO (Reuters) – Entrepreneur Nicole O’Rourke has a novel idea for raising cash that would have been illegal until this week: smacking a “fund me” sticker on every bottle or can of hair products from her start-up business, Rock Your Hair.

O’Rourke is among the first to take advantage of the lifting of a years-long ban, mandated by the 1933 Securities Act, on using advertising to find investors in private companies. Intended originally to prevent opportunists from targeting the gullible, it has long been considered a bedrock protection against scams. Lifting it, with some protections, should help startups and thus boost the overall economy, proponents say.

Sep 19, 2013

California regulators OK on-demand ridesharing, with conditions

SAN FRANCISCO, Sept 19 (Reuters) – On-demand ride services
got the green light from California regulators Thursday in a
move the services hope will help clear their legal status in
other jurisdictions.

The California Public Utilities Commission created a new
category called “Transportation Network Company” that will cover
businesses such as Lyft, SideCar and UberX. Those companies
allow customers to summon rides using apps, typically on their
smartphones, from drivers who use their personal, non-commercial
vehicles.