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.
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.
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.
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.
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.
SAN FRANCISCO, April 11 (Reuters) – Facebook’s willingness
to pay $1 billion t o 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 startups t hat may be adding
subscribers rapidly but in some cases are still far from being
profitable or ready for the public markets.
WASHINGTON, April 5 (Reuters) – As he gathers with other
movers and shakers at the White House on Thursday afternoon to
witness President Barack Obama’s signing of the Jobs Act, AOL
Inc co-founder Steve Case is already thinking ahead to
the next cause he can help champion behind the scenes:
“Our work’s not done,” Case told Reuters in an interview,
adding that he would still pause to celebrate the passage of the
Jobs Act, intended to help start-up companies raise money and
hold initial public offerings. Case lobbied heavily for the new
law, milking his connections in the Washington area to build
consensus around the legislation.
April 4 (Reuters) – Yahoo Inc said it was laying
off 2,000 employees, signaling a broad shakeup of the company.
“Today’s actions are an important next step toward a bold,
new Yahoo — smaller, nimbler, more profitable and better
equipped to innovate as fast as our customers and our industry
require,” Chief Executive Officer Scott Thompson on Wednesday.
“Our goal is to get back to our core purpose — putting our
users and advertisers first — and we are moving aggressively to
achieve that goal.”
(Reuters) – Groupon Inc (GRPN.O: Quote, Profile, Research, Stock Buzz) unnerved investors yet again after it cut its previously reported fourth-quarter revenue and net income, blaming higher-than-anticipated refunds on deals for the sharp downward revision in the numbers.
The company, which has been criticized for its unorthodox financial reporting in the run-up to a highly publicized 2011 IPO, said in its annual report filed Friday that it has a “material weakness” in internal controls over its financial statement.
(Reuters) – Groupon Inc (GRPN.O: Quote, Profile, Research, Stock Buzz) pared back revenue and net income for the fourth quarter, blaming higher refunds on deals for the sharp downward revision in its previously reported numbers.
Groupon also said in its annual report, filed on Friday with the Securities and Exchange Commission, that it has a “material weakness” in internal controls over its financial statement.