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.
With Apple Pay slated to launch this month, all eyes are on Apple to see if it can shake the curse of NFC payment systems and break through to mass adoption. We won't know if it succeeds for a while, but Morgan Stanley's Craig Hettenbach certainly seems upbeat about the possibility.
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.
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 market has been a bit bumpy in the past few days, but all summer it was pretty strong.Market conditions were favorable for Box then.The real problem for Box is that its business looks shakey.In March, when it filed, Box reported aBox's profitability in year 9 of its life is -136%. No other comparable company comes close in terms of net income % in their ninth year.
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...
Still playingWords with Friends? Well, then Zynga's rewarding your loyalty with a huge update on the app's fifth birthday, complete with a redesigned interface and new features. The New Words with Friends (yes, it's been renamed, as well) doesn't only lookflatterthan its predecessor, it also comes with a new feature called Solo Mode, which lets you play on your own without internet connection.