Sarah's Feed
Nov 7, 2013

Twitter IPO highlights big money friction in San Francisco

SAN FRANCISCO, Nov 7 (Reuters) – Twitter Inc’s
initial public offering marks something of a coming out party
for San Francisco as a technology capital, giving the city a
home-grown success story to rival those of Silicon Valley to the
south.

But there is little celebration among community activists
and a growing cadre of middle class residents who resent what
they view as a tech-driven, big-money takeover of the city.

Nov 7, 2013

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

SAN FRANCISCO (Reuters) – Just about everyone in Silicon Valley has dreamed of striking it rich with a well-timed investment. Here is a list of the number and value, based on the closing price of $44.90, of the shares owned by some of the people and investment firms that have benefited the most from Twitter’s initial public offering on Thursday. At the market close, Twitter’s valuation was $24.47 billion.

Executive officers and directors:

Evan Williams – 56,909,847 shares, or 12 percent, worth $2.56 billion. Williams was Twitter’s chief executive until 2010, when current CEO Dick Costolo took the helm. He is working on a publishing platform, Medium, which is dedicated to long-form content.

Nov 7, 2013

Who will get rich from Twitter’s IPO?

SAN FRANCISCO, Nov 7 (Reuters) – Just about everyone in
Silicon Valley has dreamed of striking it rich with a well-timed
investment. Here is a list of the number and value, based on the
closing price of $44.90, of the shares owned by some of the
people and investment firms that have benefited the most from
Twitter’s initial public offering on Thursday. At the market
close, Twitter’s valuation was $24.47 billion.

Executive officers and directors:

Evan Williams – 56,909,847 shares, or 12 percent, worth
$2.56 billion. Williams was Twitter’s chief executive until
2010, when current CEO Dick Costolo took the helm. He is working
on a publishing platform, Medium, which is dedicated to
long-form content.

Nov 5, 2013

Early Twitter investors double down on consumer Web start-ups

SAN FRANCISCO (Reuters) – For Twitter Inc’s early venture capital backers, some of whom stand to make over 500 times their investment when the company goes public, now is a time not just to celebrate but increase their stakes in mobile and social media.

Take Bijan Sabet, the partner at Spark Capital who led his firm’s investment in Twitter in 2008. At the time, according to a person familiar with the matter, Twitter was valued at $100 million. This week, the company is seeking a valuation of up to $13.6 billion in its initial public offering.

Oct 31, 2013

Twitter-backer Benchmark Capital raises new venture fund

SAN FRANCISCO, Oct 31 (Reuters) – Benchmark Capital, the
firm behind companies ranging from eBay to Twitter, is
raising a new venture fund, according to a person familiar with
the situation.

The fund will be about the same size as Benchmark’s previous
fund, a $425 million vehicle that closed in January 2011, the
person said.

Oct 29, 2013

Nextdoor attracts $60 million from Tiger Global, Kleiner Perkins

SAN FRANCISCO (Reuters) – Nextdoor, an online social network for neighbors, said it has attracted $60 million from early backers of technology titans Google, Amazon and Facebook.

The new investment, led by venture firm Kleiner Perkins Caufield & Byers and investment firm Tiger Global Management, values Nextdoor at more than $500 million, said a person familiar with the matter.

Oct 25, 2013

Obama’s tech expert becomes target over healthcare website woes

By Roberta Rampton and Sarah McBride

(Reuters) – Todd Park has gone from steering his healthcare information technology company through a blockbuster IPO to occasionally sleeping on a mat in his office while working to repair the troubled new U.S. government healthcare website.

Park, the chief technology officer for the White House and a top advisor to President Barack Obama, now finds himself among a handful of officials with targets on their backs as Republicans try to root out who is responsible for this month’s glitch-ridden rollout of Healthcare.gov.

Oct 17, 2013

EBay’s Omidyar and his ‘Next Adventure in Journalism’

SAN FRANCISCO (Reuters) – EBay Inc founder Pierre Omidyar has become the latest self-made tech baron to plunge into the struggling news industry – hot on the heels of Amazon.com Inc founder Jeff Bezos, who just paid $250 million for the Washington Post.

But unlike Bezos, the French-born Iranian American says he aims to build a new “mass media organization” from the ground up, and his first recruits are the journalists who exposed the U.S. government’s surveillance programs, using documents leaked by former spy agency contractor Edward Snowden.

Oct 17, 2013

Silicon Valley finds new ways to back tomorrow’s winners

SAN FRANCISCO (Reuters) – A group of high-flying Silicon Valley investors is betting that there is room for one more program that fosters early-stage companies.

This time, they are focused on the massive amounts of information generated in part by the Internet and known collectively as big data.

Oct 17, 2013

Online retailer Stitch Fix raises cash, tries to set itself apart

SAN FRANCISCO, Oct 17 (Reuters) – Stitch Fix said it has
raised $12 million as it tries to establish itself in what is
proving a tricky market: online retail sales.

While online sales rise every year, many entrants have a
tough time with the razor-thin profit margins and ability to
differentiate themselves from established players such as
Amazon.com Inc.