Sarah's Feed
May 11, 2012

Facebook co-founder Saverin renounces citizenship

SAN FRANCISCO (Reuters) – Facebook Inc co-founder Eduardo Saverin has renounced his U.S. citizenship, according to an Internal Revenue Service report, days before the company’s initial public offering.

The news, first published by Bloomberg on Friday, was based on an IRS notice late in April that named people “who have chosen to expatriate.”

May 7, 2012

Smartphones top computers for U.S. Facebook time

By Sarah McBride

(Reuters) – The average time spent accessing Facebook via smartphone in the United States was 441 minutes in March, compared with 391 minutes via computer, according to comScore, underscoring the increasingly high-profile role of mobile in social networking.

comScore’s new Mobile Metrix 2.0 report showed U.S. smartphone users spent 441 minutes per month, or 7 hours and 21 minutes, on Facebook in March. That compares with 391 minutes, or 6 hours and 31 minutes, for people who tapped into Facebook via a computer.

May 7, 2012

Teenage exec raises $7 mln for start-up payments company

SAN FRANCISCO, May 7 (Reuters) – Gumroad, a start-up
payments company run by 19-year-old entrepreneur Sahil Lavingia,
has raised $7 million in a funding round led by Kleiner Perkins
Caufield & Byers, Lavingia said in a blog post. [

Lavingia represents the increasingly youthful face of
Silicon Valley, where entrepreneurs in the consumer-Internet
sector are quickly building companies with relatively little

May 7, 2012

Loyal3 hopes to harness Facebook for free stock trades

SAN FRANCISCO, May 7 (Reuters) – San Francisco startup
Loyal3, the creator of the Customer Stock Ownership Plan, is
betting it can encourage more Americans to buy stock — right
from Facebook — by allowing them to spend as little as $10 for
a portion of a share, with no fees.

By piggybacking on Facebook and its network of more than 900
million users, Loyal3 said it customers will be able to skip
brokerage fees — which some say is stirring up anxiety among
the discount-brokerage industry that caters to small-time

May 7, 2012

Ex-Lala CEO hopes Verizon will add green to Color

SAN FRANCISCO, May 7 (Reuters) – Much-maligned social-video
sharing company Color is trying once again f or a shot at success
by tying up Verizon, according to a post on Color’s blog on

Color raised $41 million in first-round funding. Most other
startups are lucky to raise $5 million or $10 million at that

Apr 26, 2012

Reuters suit seeks data on Kleiner, Sequoia funds

SAN FRANCISCO, April 26 (Reuters) – The University of
California could be forced to disclose closely guarded
information on the investment performance of venture capital
funds managed by Kleiner Perkins Caufield & Byers and Sequoia
Capital after a judge last week allowed a lawsuit over the issue
to move forward.

The lawsuit, filed in California state court in Oakland by
Reuters America, a unit of Thomson Reuters, argues that the
state Public Records Act requires disclosure of specific
investment-return information for the university system’s $10.65
billion endowment fund.

Apr 25, 2012

Andreessen Horowitz partners pledge income to charity

SAN FRANCISCO, April 25 (Reuters) – In an effort to
kickstart more charitable giving around Silicon Valley, the six
general partners at venture firm Andreessen Horowitz are
pledging to give half of their lifetime income from venture
capital activities to charity.

In addition, the partners plan to donate $1 million
immediately to six Silicon Valley nonprofits, ranging from food
to youth programs.

Apr 20, 2012

Big-data investors look for the next Splunk

SAN FRANCISCO, April 20 (Reuters) – Splunk Inc’s
impressive debut on Nasdaq Thursday, where it doubled its $17
initial public offering price, has investors suddenly paying
attention to a sector that has grown in relative obscurity: big

Essentially a catch-all term, big data refers to the ability
to collect and analyze massive amounts of information on almost
every dimension of the human experience.

Apr 18, 2012

Social media is gold for Olympics advertisers

SAN FRANCISCO (Reuters) – Advertisers are going for Facebook as athletes go for the gold, in the first Olympic Games where marketers are placing such high hopes on social media to create a buzz for their brands.

With the London summer Olympics just 100 days away, advertisers hope that social media will do much of the heavy lifting in raising brand profiles, by getting consumers to chat about promotions online.

Apr 12, 2012

Dealtalk – What will be the next Instagram?

SAN FRANCISCO (Reuters) – Facebook’s willingness to pay $1 billion to buy the 12-person start-up Instagram has Silicon Valley venture capitalists happily re-doing their math on the potential value of hot young companies.

The fact that Facebook was the buyer is itself seen as a big plus for the valuation of start-ups that may be adding subscribers rapidly but in some cases are still far from being profitable or ready for the public markets.