Ever since it became fashionable to trash Groupon (and it has become VERY fashionable), the response from the company's supporters has been that it's "the next Amazon."
Amazon was subjected to the same knee-jerk skepticism and hate for much of the late 1990s, Groupon supporters point out.
Amazon.com announces a new venture nearly every day: the purchase of an online education company, the development of a payment mechanism to compete with PayPal, updates to its tablet line, a fashion design competition, three new comedy pilots. But one thing it will not announce this month, David Streitfeld reports , is a significant profit.
Groupon founder, and former CEO, Andrew Mason had an interesting reaction to Twitter's confidential IPO. Confidential S1s? But what could be wrong with releasing 100s of pages of new financial and strategic co. info to the Internet while gagged? — Andrew Mason (@andrewmason) September 13, 2013The company was shredded by the press, often called a "Ponzi scheme.
After reporting both a top and bottom miss , Amazon fell 10.32 percent in after-hours trading. The company had ended the day at$403.01 and is now trading at$361.41. As a company, Amazon is valued by investors on the strength or weakness of its revenue growth. Amazon’s current share count is 457.73 million . At a per-share loss of$41.
Amazon announced their Q3 2013 earnings today, and results are mixed. A huge jump in net sales helped the online retailer make an impact and bottleneck losses, but they’re still there. Though not as bad as in previous quarters, Amazon still takes a hit on their bottom line.With a reported net sales figure of %17.09 billion, you’d expect Amazon would be on easy street.
The former CFO of Amazon.com, Joy Covey, died in a bike accident in Silicon Valley yesterdayJoy wasriding downhill on State Highway 35 when a minivan turned across the road directly in front of her. Joy crashed into the side of the minivan and died at the scene.I didn't know Joy well, but I admired the hell out of her, as did everyone else I know who knew her.
Jeff Bezos Will Get Even Richer Off Twitter IPO Amazon CEO Jeff Bezos ' venture capital firm was an early investor in Twitter and will presumably make a big profit from the company's upcoming IPO . Bezos Expeditions , his personal investment vehicle, was among a handful of firms that made a second round investment in Twitter in 2008. The amount his firm invested is unclear.
Amazon earnings are out! Here's the score: Revenue: $25.59 billion vs. $26.06 billion (Wall Street estimate) EPS: $0.51 vs. $0.66 (Wall Street estimate) Profit: $239 million The stock is down after hours as much as 10.9% after the miss on EPS. However, sales are very impressive, up 20% from the year-ago quarter. It was Amazon's best-ever holiday quarter.
This chart showing Amazon's stock collapsing after it missed analysts' revenue expectations last week tells you why the company is considering raising the cost of Amazon Prime by $40, or roughly 50%, to as much as $119.
Last week, news broke that a ~2.5 year old company called Snapchat had rejected an all-cash $3 billion takeover offer from FacebookPredictably, the cat-calls and howls of indignation began.Snapchat and its investors were obviously delusional idiots, Twitter pundits agreed. And arrogant! How else could they pass on a crazy offer from a "desperate" Facebook? Snapchat doesn't even have revenue. Even a one billion dollar offer for a company like that was "insane," let alone a three billion-dollar offer. If anyone needed confirmation that we're right back in a "tech bubble," this was it.Well, as we pointed out last week, this insta-consensus around startling valuations is nothing new in the tech world.
eBay CEO John Donahoe slammed Amazon's headline-grabbing plan to start delivering packages via drones , calling it a "long-term fantasy."Donahoe made the remarks to Bloomberg reporter Emily Chang, after she asked him whether eBay has any plans for delivery drones."We're not really focusing on long-term fantasies," Donahoe said. "We're focusing on things that will change consumers' experience today.""So you think it's a long-term fantasy?" Chang asked."We'll see," Donahoe said with a shrug.eBay posted revenues of $14.1 billion last year, while Amazon generated $61.1 billion.
Amazon's Jeff Bezos has usurped Elon Musk as "most interesting" dude in tech with his announcement of 30 minute drone deliveries, Kashmir Hill of Forbes points outBezos' announcement largely dominated the Internet news airwaves and subwaves, indicating to the masses that a world of airborne drones is all but upon us.There are key considerations that most people are missing though.
Twitter’s Private Filing Signals New Wave of Secrecy Twitter Inc., the business that thrives on a culture of excessive sharing, is taking a more discreet route to its initial public offering, adopting a strategy that others will follow. The microblogging service sent out a 24-word tweet yesterday announcing that it had confidentially filed to go public with the U.S.
Today after the market close Amazon reported its fourth quarter financial performance , including revenue of $25.59billion, and earnings per share of $0.51. The company has operating income of$510 million in the period, up26 percent year over year.
It was perhaps inevitable that Amazon would have a rocky relationship with book publishers. Publishers are analog, Amazon is digital. Publishers are New York, Amazon is Seattle. The large publishers traditionally did not know much about their customers, and did not really care. Amazon knew a lot about customers and made the most of it.
When it comes to raking in the money on cloud computing Amazon still "dwarfs all competition," writes John Dinsdale, an analyst at market researcher Synergy in a new reportThe total cloud computing market hit $2.5 billion in revenue in Q3, up 46% the same quarter of 2012, Synergy found.
Groupon today made another move to build up one of its vertical marketplaces: today the company said it would add 20,000 more hotels to its Groupon Getaways travel portal. This is one step in a series, Groupon tells me: the next will be to integrate last-minute bookings from Blink, the HotelTonight competitor that Groupon acquired last year.
Forbes just released its annual billionaires list , which highlights the richest people all around the world. This year, WhatsApp co-founders Jan Koum and Brian Acton made the cut. But with net worths of $6.8 billion and $3 billion, respectively, they're not even close to the richest people in tech. Here are the top 15 richest tech billionaires in the world: Net Worth: $76 billion 2.
Amazon CEO Jeff Bezos took to 60 Minutes to reveal the company's latest delivery method: drones . In what is likely a cunning reminder of the e-tailer's upcoming Cyber Monday sales, these bots will apparently be capable of delivering packages up to five pounds (86 percent of orders are apparently less than that ), with the aim of getting them to your house in under half an hour.