SAN FRANCISCO (Reuters) – Shares of Microsoft Corp MSOFT.O slid on Tuesday after the surprise departure of a key executive, who analysts said marks the loss of the driving force behind the company’s biggest product.
The shares were down 2.8 percent in afternoon at $27.21.
Microsoft on Monday night announced the departure of Steve Sinofsky, a 23-year veteran of the company and head of its flagship Windows unit, just two weeks after launching the Windows 8 operating system.
SAN FRANCISCO (Reuters) – Google will increase the cash it allocates to its venture-capital arm to up to $300 million a year from $200 million, catapulting Google Ventures into the top echelon of corporate venture-capital funds.
Access to that sizeable checkbook means Google Ventures will be able to invest in more later-stage financing rounds, which tend to be in the tens of millions of dollars or more per investor.
SAN FRANCISCO (Reuters) – California’s 74-year-old governor, Jerry Brown, engineered a surprise victory for his tax-hike ballot proposition by tapping support at the other end of the age spectrum.
Proposition 30, a temporary $6 billion tax hike, passed with a solid 54 percent approval on Tuesday, driven largely by a higher-than-expected turnout of young voters, pollsters and analysts say.
SAN FRANCISCO (Reuters) – Floating robots to gather storm data, fuel cells for power outages, and tools to choose evacuation routes and help responders stay connected to the Internet are among the innovations that increasingly will help responders deal with future disasters, start-up companies say.
These tools are helping track weather patterns and measure their strength, soften their impact and speed recovery. Many are already proving their worth, not just in massive storm Sandy but in other weather disasters such as Hurricane Isaac and this summer’s extreme drought in the U.S. Midwest.
SAN FRANCISCO, Oct 29 (Reuters) – Stanford University alumni
with entrepreneurial streaks may be particularly well placed to
pay off their $41,250 tuition bills, according to a new report
on venture funding.
Companies run by Stanford alumni raised $4.1 billion across
more than 200 financings in the five years from 2007 to 2011,
according to CB Insights, a consultancy.
SAN FRANCISCO (Reuters) – Venture capitalists are proving a less reliable source of cash for President Barack Obama during this election, according to fundraising data, even though he has raised a record amount of cash overall.
Through September 30, Obama collected $552,758 from these deep-pocketed investors who provide startup money to firms, less than half his total through that time in 2008.
SAN FRANCISCO (Reuters) – The University of California must try to obtain and then disclose closely guarded information on the investment performance of venture capital funds managed by Kleiner Perkins Caufield & Byers and Sequoia Capital, a state judge said in a tentative ruling made public on Tuesday.
The lawsuit, filed earlier this year in California state court in Oakland by Reuters America, a unit of Thomson Reuters Corp, argues that the state Public Records Act requires disclosure of specific investment-return information for the university system’s $10.65 billion endowment fund.
The WPP chief executive was in Silicon Valley last week, cozying up to technology bigwigs such as Google, Facebook, and Twitter. But spending a few days in the technology heartland hasn’t much changed how Sorrell plans to personally communicate.
SAN FRANCISCO, Oct 4 (Reuters) – D-Wave Systems, a
Vancouver-based company that aims to develop quantum-computing
applications, said on Thursday it had received $30 million in
funding from investors including the firm that manages Amazon
founder Jeff Bezos’s venture investments and an investment arm
of the Central Intelligence Agency.
The investments, from Bezos Expeditions and In-Q-Tel, mark a
vote of confidence in the potential for practical applications
for the emerging technology underpinning quantum computing.
SAN FRANCISCO, Oct 3 (Reuters) – Venture capitalist Ben
Horowitz is famous for starting his blog posts with rap lyrics.
Now, he will be putting his money into the mix.
His firm, Andreessen Horowitz, announced Wednesday a $15
million investment in Rap Genius, a website using crowdsourcing
to dig into and explain arcane details of rap lyrics.