Square, the San Francisco e-commerce start-up, plans to raise at least $100 million in a new round of venture capital funding, according to a person briefed on the investment.The new round of financing would value the San Francisco-based start-up at $6 billion, said the person, who spoke on the condition of anonymity because the talks were private.
David Gelles and Michael J. de la Merced report that across Silicon Valley, start-ups, already flush with cash, are piling on the investment dollars.Of the 100 largest venture capital rounds on record, 88 were issued within the past five years, according to CrunchBase, which tracks venture funding. Each delivered more than $50 million to the companies.
Google announced today that it bought Divide, a company that makes a popular app that lets you securely access corporate documents and email from your phone. Terms of the deal were not disclosed, but Divide, founded in 2010, has raised $23 million from venture investors including Google's own VC arm, Google Ventures.
Morgan Stanley analyst Katy Huberty says Apple’s upcoming smartwatch will experience a “halo effect” as a result of the soaring popularity of the iPhone, in the same way the iPod helped drive the success of Mac computers in the early 2000s.And it's easy to see why: Among iPhone owners, Apple's smartphone is more popular than ever.
The biggest IPO in U.S. history is taking place Thursday, as Chinese e-commerce giant Alibaba goes public on the New York Stock Exchange. And there's one American company that will experience a windfall from Alibaba's stock, not just today, but in the months and years to come: Yahoo. Yahoo's continued windfall would have been smaller if not for one woman at the company.
It hasn't done anything in terms of releasing new products so far this year.As a result, there isn't going to be much to talk about with Apple.Presumably, it's quite busy working on stuff at its HQ. But, this is a bit of a let down since last year Tim Cook said there would be new Apple products "across 2014." It seems like "across 2014" has turned into the end of 2014.
New research data compiled by Morgan Stanley Research (and relayed by Business Insider) reveals that when it comes to brand retention in the smartphone industry, Apple remains the top dog. On average, Morgan Stanley found that 90% of iPhone owners remain loyal to Apple as compared to 77% for Samsung and 58% for Nokia.
Mobile payments startup Square did not try to sell itself, according to one of its board members, Roelof Botha of Sequoia Capital.At the TechCrunch Disrupt conference today, Botha said the payment company has not tried to sell itself in recent months,He also said the company is doing fine and that it did not shelve any IPO plans.
Time flies! Next Tuesday is July 22, and that's the day that we'll hear from Apple executives about how the company did in its third fiscal quarter ending June 30, 2014. As usual, TUAW will liveblog the earnings call beginning at 5 PM ET, and you can listen in on the proceedings via Apple's livestream .
Enterprise startup Zendesk is moving full-speed ahead toward its IPO, even though investors have cooled towards cloud companies in recent weeks. Zendesk has not set a date for its first day of trading on the public markets, but it just priced its shares, according to documents filed with the SEC . It plans to sell over 11 million shares at $8 to $10 a share.
After four spectacular years at BuzzFeed, Jon has decided it's time to move on but we will miss him a huge amount," it read. No replacement was lined up for Steinberg.Since then, rumors have spread about why he left.Some say Steinberg was gently nudged out, citing heated final discussions between Peretti and Steinberg.
Here's what will be on people's minds during the next seven days in tech: AT&T's deal to acquire DirecTV for $49 billion will frame the coming week: The deal comes on the heels of Comcast's bid to acquire Time Warner Cable. Congress will likely want to debate both deals over worries that consolidation in the internet-pipes business is reducing competition and hurting consumers.
The smartwatch Apple is expected to unveil on Tuesday will contain a near-field communication (NFC) chip, according to the Wall Street Journal . An NFC chip would allow Apple's smartwatch to transfer information and process payments with any other NFC-equipped device. Apple is expected to debut a new payment platform alongside the iPhone 6 and the iWatch.
It's currently down ~5% to $40.23 per share.Subtract the $10.5 billion in cash that Yahoo will have after receiving the proceeds of its Alibaba stock sale and paying taxes on its gain (Yahoo won't have to pay these cash taxes for a while, so it will retain the cash for now). Subtract the value of Yahoo's 35% stake in Yahoo Japan. It's worth about $5 billion after taxes.
When you travel the world, having a few drinks with your hosts is a great way to get a sense of the local culture. But excessive alcohol consumption can cause physiological consequences . Don't worry—a hangover is universal, and your new friends probably already know a way to cope with it.Read more...