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Here's How Facebook Employees *Really* Feel About The WhatsApp Acquisition
http://www.businessinsider.com/facebook-employees-whatsapp-acquisition-2014-2/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Thu, 05 May 2016 18:46:11 -0400
Jillian D'Onfro
http://www.businessinsider.com/c/530ca5056da8113d3ffadc50
ha ha
Tue, 25 Feb 2014 09:13:25 -0500
http://www.businessinsider.com/c/530ca5056da8113d3ffadc50
tribes...
http://www.businessinsider.com/c/530c48796da811732d7aab0c
A Random German
Tue, 25 Feb 2014 02:38:33 -0500
http://www.businessinsider.com/c/530c48796da811732d7aab0c
This is always the problem. And will always be. At a certain point you dont have any more options to get the real talents. But if you have good working engineers with one or two talents to guide them you always end in a good product. So it doesnt matter. A startup can do things with 10 guys a firm needs 500 to do the same but in the end the 500 will win enough that you can buy the 10 guys over for several years.
Thats how it goes. And if a real talent is brought and starts a family you win twice since he is highly staying at your side but will cut back in affords a bit. But its the smart thinking you seek and not the 12 hours of working day.
http://www.businessinsider.com/c/530c0db2ecad04371d7aab0a
Real?
Mon, 24 Feb 2014 22:27:46 -0500
http://www.businessinsider.com/c/530c0db2ecad04371d7aab0a
Real is, FFFF****CCCCKKKKKKK!!!
The CEO is a crook.
http://www.businessinsider.com/c/530bf2f86da811f60c7aab06
thebodygd
Mon, 24 Feb 2014 20:33:44 -0500
http://www.businessinsider.com/c/530bf2f86da811f60c7aab06
Come up with original ideas that serve the mass market and TAKING RISKS. You may fail but if you succeed, then the world is your oysters !
You Will Never Get Really Rich Working For Someone Else
<a href="http://www.businessinsider.com/newsflash-you-will-never-get-really-rich-working-for-someone-else-2012-7" target="_blank" rel="nofollow" >http://www.businessinsider.com/newsflash-you-will-never-get-really-rich-working-for-someone-else-2012-7</a>
http://www.businessinsider.com/c/530befac69bedd5872cfb621
Laurent_Frenet
Mon, 24 Feb 2014 20:19:40 -0500
http://www.businessinsider.com/c/530befac69bedd5872cfb621
Phase five, is when you (as an older member of the first tribe) realize that you better go join a smaller tribe (start-up) and return to the big tribe as an acquiree.
http://www.businessinsider.com/c/530bd3b9ecad04cb577aab0c
wei-min chu
Mon, 24 Feb 2014 18:20:25 -0500
http://www.businessinsider.com/c/530bd3b9ecad04cb577aab0c
This is an excellent and prescient post. In the long term, the Whatsapp acquisition will cause the best employees to realize that success lies outside Facebook, not within. Only the conservative lifers will remain. Facebook will have to look for a string of acquisitions to prime the pump each year, diluting the stock repeatedly until the market rates the stock a dud. This is exactly what happened at Cisco, which also grew laregely via acquisitions during a long bull market that seriously overvalued the stock.
|
M&A
| 1
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[
{
"label": "M&A",
"score": 0.9999997615814209
}
] |
Yahoo Acquires Arabic Portal Maktoob.com - Business Insider
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Yahoo Acquires Arabic Portal Maktoob.com
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Yahoo (YHOO) acquired an Arabic web portal Maktoob a few hours ago, the company announced this morning.
No word on the financial terms, but TechCrunch estimates it at $85 million.
Founded in 2000, Maktoob has more than 16.5 million unique users, and offers search, social networking and payments under verticals like Souq and cashU. But the Yahoo acquisition does not include them all.
As per the deal, Souq.com, cashU.com and other Maktoob group companies Araby.com and Tahadi.com will operate as a new company called the Jabbar Internet Group, which will be promoted on the Yahoo website.
Yahoo CEO Carol Bartz: "This acquisition will accelerate Yahoo!’s strategy of expanding in high-growth emerging markets where we believe Yahoo! has unparalleled opportunity to become the destination of choice for consumers,”
Keith Nilsson, Yahoo's SVP of Emerging Markets: We see great growth potential in both audience and advertising in the Arab world and combining with Maktoob.com will allow us to quickly build our presence there with high quality products. This is a big win for publishers, advertisers, and consumers in the region.”
Maktoob.com is typically accessed in UAE, Jordan, Kuwait, Egypt and Saudi Arabia. Internet users in these areas will now have access to Yahoo's content in Arabic, including Yahoo Messenger and Yahoo Mail, Yahoo announced on its blog:
Initially, we’ll plan to introduce Arabic versions of Yahoo! Mail, Messenger, Search, and our homepage and then eventually local versions of properties like News, Sports, and Finance. We’ll also focus on creating content and services tailored to the region. No other global company has made this kind of investment in local relevance for the Arab world.
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Facebook Won't Acquire Twitter for These Five Reasons
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Facebook Won't Acquire Twitter for These Five Reasons
Tom Johansmeyer
2012-02-10T18:39:26Z
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Twitter might be a good fit for Google, but an acquisition by Facebook probably doesn’t make as much sense. There isn’t as much to gain, and for Facebook, the lower returns would come at a proportionately higher cost. Let’s take a closer look:
1. Money: Facebook probably won’t have enough. Twitter reportedly turned down a $10 bn offer from Google a year ago. Now, Twitter’s implied valuation via SharesPost is at that level, and an acquisition would probably have to come at a premium above that. Facebook was sitting on $3.9 bn in cash and cash equivalents at the end of 2011, and it’s planning to run $5 bn in its IPO. This pales in comparison to Google’s spending power.2. Internal: Facebook tends to prefer internal development over acquisition – at least that’s what COO Sheryl Sandberg said at the Business Insider IGNITION conference back in December. Blowing through its capital to pick up Twitter would be too much of a culture shock.3. Potential: well, lack of potential – Facebook doesn’t offer the scale that Google does for monetizing Twitter quickly. As a result, it would take longer for the deal to generate value.4. Integration: Facebook has done deals, but they’ve been small. Bringing in a company the size of Twitter would be too difficult for a newly public company that lacks substantial experience in post-merger integration.
5. Gap: there isn’t enough of a gap in Facebook’s current product to make this a good acquisition. There is just far more overlap than there is with Google+, and it doesn’t look like the two product roadmaps are converging in the way that Google+ and Twitter are.Click here for FREE email alerts from Inside IPO >>
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Red Hat Talked With Microsoft, Google, Amazon Before IBM Acquisition
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IBM's $34 billion Red Hat acquisition came after deal talks with Microsoft, Google, and Amazon, sources say
Becky Peterson
2018-12-16T14:29:00Z
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Microsoft CEO Satya Nadella and IBM CEO Ginni Rometty both took a look at Red Hat ahead of its $34 billion acquisition by IBM.
Reuters/Mike Blake
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Become an Insider and start reading now.
IBM faced competition before winning its $34 billion bid to acquire Red Hat.Microsoft, Google, and Amazon all took a look at Red Hat, according to sources familiar with the deal.Microsoft backed out over antitrust concerns, and Google offered Red Hat a partnership instead, according to a Red Hat company filing.
When IBM announced its $34 billion acquisition of Red Hat on October 28, the tech word was struck by the huge price tag, as well as its potential to revive IBM's struggling cloud business. But as it turns out, things could have gone a lot differently.Microsoft, Google, and Amazon all engaged in deal discussions with Red Hat and looked closely into an acquisition in the months and weeks before Red Hat struck a deal with IBM, according to sources familiar with the deal.As an open-source software company, Red Hat is strategic because of its popularity with developers. It's also is the largest commercial maker of the Linux operating system. IBM wanted the technology to enhance its hybrid-cloud project and to give its portfolio an edge.Red Hat indicated in a public filing on November 30 that three unnamed companies considered making bids in addition to IBM. CNBC reported in October that Google had looked into buying Red Hat. But Microsoft and Amazon's deal talks with Red Hat have not been previously reported.Red Hat's shareholders will vote on whether or not to approve IBM's offer on January 16, 2019. The deal would be the biggest acquisition in IBM's 100-year-plus history and would instantly catapult IBM into the top ranks of cloud providers, a fast-growing industry that's long been the domain of Amazon and Microsoft.Red Hat rejected IBM's first offerThe first spark of an IBM-Red Hat merger started at an April lunch between IBM CEO Ginni Rometty and Red Hat CEO Jim Whitehurst, according to remarks Rometty made at the time of the deal.Though IBM ultimately made a winning offer of $190 a share, it took some negotiation from Red Hat. IBM initially offered $185 a share on September 27, but Red Hat's board of directors decided it was "inadequate," according to the proxy.Red Hat's board also asked its advisers to make a list of other potential acquirers, who Red Hat courted until moving forward on the IBM deal on October 21. On October 28, the deal was announced.
Read more: We spoke with 7 insiders about IBM's $34 billion Red Hat takeover — here's how it came togetherEveryone else declined to bidMicrosoft, which, according to one source, is referenced throughout the proxy statement as "Party A," first expressed interest in Red Hat back in March. But Microsoft dropped out of the running on October 10, according to the proxy, "citing concerns about securing regulatory approvals of a strategic transaction in the US and Europe."Microsoft declined to comment.Google, which one source said was "Party B," met with Red Hat in the spring of 2018 to discuss partnerships. As a deal with IBM got closer, Google continued to move forward with the sale process, but stopped short of making an offer.
Google Cloud CEO Diane Greene, who is stepping down from the position in January 2019, spent months looking at Red Hat.
Google
Though Google's former Cloud CEO Diane Greene spent a lot of time with Red Hat ahead of its sale, she struggled to get support from the company on her large mergers-and-acquisitions aspirations, according to one source.So on October 20, Google officially declined to submit a proposal and instead asked if Red Hat would explore a commercial partnership and a minority equity investment from Google.Google did not immediately return a request for comment.Amazon, which one source said was "Party C," got involved around October 12, when Red Hat's executives reached out to the company to see if they were interested in a deal, according to the proxy. But on October 20, Amazon told Red Hat that it wasn't in a position to make an offer.
Despite its participation in the process, one source said it was likely Amazon was buying time. The company wasn't interested in Red Hat, the source said, so much as it was in staying on top of what its cloud competitors at Microsoft and Google were up to.Amazon did not immediately return a request for comment.Read more:IBM's exorbitant $34 billion Red Hat acquisition actually makes perfect sense as a way to stop getting killed in the cloud wars with Amazon and MicrosoftHere's why software developers are worried about IBM's $34 billion acquisition of Red HatHere's who will get richer when IBM buys Red Hat for $34 billionIBM was losing the cloud wars — here's why Wall Street thinks its $34 billion Red Hat acquisition will change that
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Amazon Roomba Acquisition 'Most Dangerous' in Company History: Expert
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Amazon bought the company that makes the Roomba. Antitrust researchers and data-privacy experts say it's 'the most dangerous, threatening acquisition in the company's history'
Katherine Tangalakis-Lippert
2022-08-08T12:55:00Z
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Amazon on Friday said it acquired iRobot, the company that makes Roomba vacuums, for $1.7 billion.
The deal prompted concerns from data-privacy experts and antitrust researchers.
People don't buy a Roomba to have it "spying on the layout of your home," a researcher said.
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After Amazon on Friday said it acquired iRobot, the company behind Roomba vacuums, data-privacy experts and antitrust researchers quickly raised alarm, saying the tech giant could use the purchase to vacuum up personal information from inside users' homes. Advanced Roomba vacuums have internal mapping technology that learns the floor plan of a user's home. The devices can also "adapt to and remember" up to 10 floor plans "so users can carry their robot to another floor or a separate home, where the robot will recognize its location and clean as instructed," press releases by iRobot say. Some models have low-resolution cameras to avoid obstacles and aid in mapping."People tend to think of Amazon as an online-seller company, but, really, Amazon is a surveillance company. That is the core of its business model, and that's what drives its monopoly power and profit," Evan Greer, the director of the nonprofit digital-rights-advocacy organization Fight for the Future, told Wired. "Amazon wants to have its hands everywhere, and acquiring a company that's essentially built on mapping the inside of people's homes seems like a natural extension of the surveillance reach that Amazon already has."Ron Knox, a senior researcher and writer for the Institute for Local Self-Reliance — a nonprofit that gives tech assistance to community businesses — said in a series of tweets after the acquisition was announced that the $1.7 billion deal, the fourth-largest acquisition in Amazon's portfolio, "may be the most dangerous, threatening acquisition in the company's history."
The move, Knox told Insider, is uniquely dangerous for a few reasons: First, Amazon will be acquiring an established market share, not a startup, which he said would cut off competition in a market that already wasn't competitive and could further Amazon's reach. Second, because of the massive amount of data that comes with accessing iRobot's established data sets, Amazon can collect new information through the robots, he added. "I think this feels really intrusive to people — and it should," Knox told Insider. "Like, when people buy a Roomba, it's because they want clean floors. They don't buy a Roomba to have a little robot inside of your house spying on the layout of your home and whether or not you have a crib in your house or whether or not there are pet toys and a pet bed in a room of your house. So then it can funnel that information to Amazon, and Amazon can push whatever dog-toy ads to you the next time you log on."Amazon declined to be interviewed by Insider on data-privacy concerns but indicated the company didn't sell consumer data to third parties or use it for purposes customers "haven't consented to." "Protecting customer data has always been incredibly important to Amazon, and we think we've been very good stewards of peoples' data across all of our businesses," an Amazon spokesperson said in a statement emailed to Insider. "Customer trust is something we have worked hard to earn — and work hard to keep — every day."
Robert Weissman, the president of Public Citizen, a nonprofit consumer-rights advocacy group, said federal regulators should prevent Amazon's purchase of iRobot, citing concerns over the company's 56.7% market share."The last thing American and the world needs is Amazon vacuuming up even more of our personal information," Weissman said in a statement. "This is not just about Amazon selling another device in its marketplace. It's about the company gaining still more intimate details of our lives to gain unfair market advantage and sell us more stuff."The deal has not been approved by Federal Trade Commission regulators, who could terminate the deal under antitrust laws.The Roomba deal isn't the only recent Amazon acquisition to raise privacy concerns. The announcement came less than a month after Amazon announced a $3.9 billion deal to acquire One Medical — which prompted worries about privacy because of the nature of medical-data collection.
Ring, the company's security-surveillance doorbell — which partners with thousands of police departments — acknowledged in a letter to Sen. Ed Markey of Massachusetts last month that it had shared with law enforcement footage taken from 11 customers' residences without warrants, Politico reported."When the company that has its cameras and microphones in your speakers, your doorbell, your security cameras tries to buy the company that knows the shape and contents of your home, it's bad in all the ways," Knox said.
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Entertainment One Acquires 'Hunger Games' and 'Lord of the Rings' After Buying Alliance Films - Business Insider
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Entertainment One Acquires Alliance Films For $230M
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Warner Bros. / screencapEntertainment One's acquisition of Alliance Films will give it the rights to 35,000 titles including "The Lord of the Rings."Canadian Company Entertainment One (EOne) will be adding a long list of box office hits to its collection.
The company announced it will purchase Alliance Films for $230 million–a move which will add The Weinstein Company, Focus Features, and Relativity to the company.
According to the press release, the addition of the studios will make EOne the largest indie film distributor in Canada and the UK.
From the deal, EOne adds 35,000 film and television titles to their current library of 24,000. Alliance's library includes films "Pulp Fiction," "The King's Speech," billion dollar franchise "The Lord of the Rings," and Lionsgate's hit phenomenon, "The Hunger Games."
The addition of Alliance will also add an international expansion into territories including Spain and Australia.
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Entertainment One Acquires Alliance Films For $230M
Entertainment One Acquires Alliance Films For $230M
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DHX Media Will Acquire Cookie Jar Entertainment for $111 Million: the Merger Unites Kids Franchises Including DHX's ...
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DHX Media will acquire Cookie Jar Entertainment for $111 million: The merger unites kids franchises including DHX's "Yo Gabba Gabba!" and "Angela Anaconda" with Cookie Jar's "Care Bears," "Strawberry Shortcake," and "Inspector Gadget" creating Canada's largest independent children's entertainment company.
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Firefly Acquired By Pegasystems - Business Insider
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A College Kid Gave Himself The Ultimate Graduation Gift And Sold His Profitable 6-Figure Startup
Alyson Shontell
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FireflyDan Shipper and Justin Meltzer just graduated from UPenn and simultaneously sold their startup, Firefly.
On May 18, Dan Shipper graduated from the University of Pennsylvania. He didn't stick around to celebrate with friends like most college seniors do.
Instead, he hopped on a flight to Boston to finish negotiating the sale of his startup, Firefly. After two months of talks, Firefly was acquired by Pegasystems. The price wasn't disclosed, but since Shipper's startup was profitable and generating six figures you can assume the payout was nice.
Firefly enables customer-service reps to share their screens with customers and co-browse without requiring them to download any software. Its 6,000-plus customers pay either $25 to $99 per customer-service rep or a fixed monthly rate if it's a large organization. The team will be moving to New York to continue working on Firefly under the Pegasus brand.
There are a lot of unusual things about the Firefly team. First, there are only two people who work for the startup, 23-year-old Shipper and his even younger co-founder, Justin Meltzer. The pair largely bootstrapped Firefly, taking only $20,000 in financing from First Round Capital's Dorm Room Fund.
Second, both Shipper and Meltzer built Firefly while attending UPenn, and neither had to drop out of school to make it successful. Meltzer obtained his degree one year ahead of Shipper, who says he was held back in kindergarten.
"I couldn't color between the lines," he joked.
While the startup was profitable, Shipper and Meltzer paid themselves only a small salary of less than $30,000. When you're in college and have limited expenses, that low salary can go a long way.
"We pay ourselves a little bit of a salary but most of it goes toward expenses," Shipper told Business Insider before the acquisition. "Lawyer bills when you run a company like ours can get high. It's not like all of this is profit. We are pretty frugal with our money." The pair said they weren't spending their salaries treating themselves or friends to rounds of drinks. "Maybe when we get to seven figures in revenue we'll do that," Shipper said.
Shipper and Meltzer say they haven't told their friends about their successful exit yet. "They'll probably read about it on Facebook today," Meltzer said.
But they have told their parents. "My dad said, 'If you have to get a real job out of college, this is the way to do it,'" said Shipper.
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UKDEAUSIDINMYSGPLSE
|
M&A
| 1
|
[
{
"label": "M&A",
"score": 1
}
] |
Felix, The Profitable Arm Of Yext, Has Been Acquired By IAC For ~ $30 Million
http://www.businessinsider.com/felix-the-profitable-arm-of-yext-has-been-acquired-by-iac-for--30-million-2012-8/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Sat, 28 May 2016 20:45:47 -0400
Alyson Shontell
http://www.businessinsider.com/c/50326677eab8eafe66000004
ValleySwagger
Mon, 20 Aug 2012 12:31:51 -0400
http://www.businessinsider.com/c/50326677eab8eafe66000004
oh, no problem...He only wants to build a $2.7B company? Looks like, with this sale, that he's well on his way...yeah right!
|
M&A
| 1
|
[
{
"label": "M&A",
"score": 1
}
] |
JPMorgan Acquires Tax-Efficient Investment Strategy Provider
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JPMorgan purchases 55ip to empower financial advisors
Victor Chatenay
2020-12-04T14:47:40Z
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JPMorgan Asset Management has bought 55ip, which helps financial advisors build tax-efficient investment strategies for their clients, per PR Newswire. Under the deal, 55ip will continue to operate as a separate entity and integrate its tax management solutions to JPMorgan's model portfolios.
JPMorgan acquires tax-efficient investment strategy provider.
Insider Intelligence
JPMorgan has acquired 55ip to help financial advisors boost client satisfaction with tax-smart investment strategies.
This highlights another area in which fintechs can support asset managers beyond regtech and data analytics.
Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry with the Fintech Briefing. You can learn more about subscribing here.
The tax-smart offering will help financial advisors build more cost-effective portfolios amid market
volatility
, yet another area where B2B fintechs can support incumbent asset managers. The pandemic has presented major challenges to financial advisors, including overseeing mediocre portfolio performance at best.As a result, many are seeking tech tools to improve portfolio outcomes, with the potential addressable market for asset manager and third-party strategist models—which help financial advisors build a portfolio—worth $3.6 trillion. With the acquisition, JPMorgan can capitalize on this demand, helping financial advisors automate tax-efficient trading to avoid incurring additional portfolio costs and client satisfaction.The acquisition also further highlights demand among incumbent asset managers for fintech solutions. Amid shrinking global margins, many have turned to regtechs such as AI-powered SteelEye to automate compliance, or advanced data analytics with Refinitiv to inform their investment decisions, and tech-enabled tax efficiency will likely present another sought-after solution.Want to read more stories like this one? Here's how you can gain access:Join other Insider Intelligence clients who receive this Briefing, along with other Fintech forecasts, briefings, charts, and research reports to their inboxes each day. >> Become a ClientExplore related topics more in depth. >> Browse Our CoverageCurrent subscribers can access the entire Insider Intelligence content archive here.
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The Closest Pinterest Ever Came To Being Acquired - Business Insider
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The Closest Pinterest Ever Came To Being Acquired
Nicholas Carlson
May
1, 2012,
2:19 PM
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flickr: jbarreirosThe Hearst Tower, where one of New York's many big magazine companies is headquarteredThis is a lightly-edited excerpt from our feature, INSIDE PINTEREST: An Overnight Success Four Years In The Making.
Sources close to Pinterest investors swear up and down that CEO Ben Silbermann's plan is not to be the next Kevin Systrom, who just sold his startup, Instagram, to Facebook for $1 billion.
You know they're not lying because Silbermann could, if he wanted to, sell Pinterest to Google right now.
Because of Pinterest's roots as a shopping app, M&A types figure Amazon will be an interested buyer at some point too.
There was a point at which Pinterest could have been bought, though.
Early in 2010, Pinterest investors pushed a certain New York-based magazine publishing company to invite Silbermann and Sciarra in for a look-see.
Investors dared to hope for a sale; the fit was obvious.
But the magazine publishing company resisted taking the meeting. Silbermann reached out.
And still, the magazine company's corporate development people didn't really see the point in Pinterest.
Oops.
More: INSIDE PINTEREST: An Overnight Success Four Years In The Making.
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M&A
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[
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"score": 1
}
] |
Why Amazon Acquired Ring for $1 Billion
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Amazon's $1 billion acquisition of the doorbell-camera startup Ring is the company doing what it does best — and it should terrify every other retailer
Dennis Green
2018-03-03T15:30:00Z
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Amazon's Ring acquisition gives it a competitive edge in a few different ways.
Facebook/Ring
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Amazon is acquiring Ring, a startup that makes smart doorbells with cameras.This gives Amazon an extra leg up on smart-home tech and complements existing services that make ordering items from its website easier.This synergy is what the e-commerce giant does best, and it's a signal to other retailers that it will continue to innovate in this space.
Amazon is acquiring Ring, a startup that specializes in smart-camera-equipped doorbells for dwellings. At a reported acquisition price north of $1 billion, Ring provides another suite of in-home smarts that both complement and extend Amazon's capability. It also fits in well with Amazon's existing obsession with adding value to its core online-shopping service.When the company first announced the launch of its in-home delivery service, Amazon Key, it had developed only the camera for it. It had to partner with existing smart-lock makers to create the kits it is currently selling to interested customers. But Ring's doorbells are equipped with cameras and audio equipment, and they can easily work with voice-enabled smart-home devices to add to that experience and take it to the next level.
Alerts could tell you when the camera notices a delivery person outside your house, and an extra camera could provide more security for the whole operation. You can also chat with the delivery people themselves and answer their doorbell ring remotely. From there, you could tell them to just leave the package, or take it around the side of the house for safe-keeping. All of this could get also benefit from facial-recognition software, which it looks like Ring is developing.Amazon CEO Jeff Bezos hinted at acquisitions like this one in the company's most recent earnings release."Our 2017 projections for Alexa were very optimistic, and we far exceeded them. We don't see positive surprises of this magnitude very often — expect us to double down," Bezos said in a prepared statement.
As Amazon becomes more central to the burgeoning smart-home market, moves that fuse tech and retail will only become more important for the company. "The trifecta of Alexa, Echo, and Prime should enable Amazon to further penetrate the consumer, expand Prime membership and retail spending patterns, while widening the company's consumer competitive moat with the Ring acquisition putting further fuel in this smart home engine for Amazon," GBH Insights analyst Daniel Ives wrote in a note to investors.Ring gives Amazon a boost to both its still-central e-commerce business and its burgeoning smart-home business. Amazon did this before with Alexa and Echo, and it's continuing that trend with Ring.That synergy is Amazon doing what it does best — bringing together two seemingly disparate sectors in new and interesting ways to provide a competitive edge and new services for consumers.
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Rubicon Project, the programmatic advertising company that went public last year, has acquired Toronto-based search and ad retargeting company Chango for approximately $122 million, in cash and stock (but primarily stock.) Rubicon Project says the acquisition will help expand its Buyer Cloud offering to include "intent marketing" — Chango's technology mixes information from search queries with behavioral, contextual, and advertiser data to allow brands to better target their ads.
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10 Digital Media Companies Most Likely to Get Acquired Next
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Hubspot is acquiring The Hustle. Here are 9 other digital media companies experts say are likely to get acquired next.
Lara O'Reilly
2021-02-04T14:06:51Z
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Experts expect media dealflow to be 'plentiful' in the months ahead.
SPACs and private equity firms are circling the digital media sector.
Insider asked experts to predict which digital media companies could get acquired next.
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When two of the best-known names in digital media — BuzzFeed and HuffPost — announced plans to unite late last year, they sparked a whirl of speculation about which digital media outlets might be acquired next. This week Hubspot, the customer relationship management software company, said it had signed an agreement to acquire The Hustle. Founded in 2016, The Hustle publishes a daily business news letter aimed at millennials, which the company monetizes through advertising and $299 annual subscriptions to its Trends product. Axios reported the deal was valued at around $27 million, citing a source familiar with the terms."The Hustle cracked the code on amassing a big list, then launching a premium product a subset of free subscribers are willing to pay for," said Rob Ristagno, founder of consultancy firm Sterling Woods.Sam Parr, The Hustle's founder, told Insider in December that the The Hustle that the company has been profitable "almost every year since starting" and he predicted advertising is likely to generate less than 50% of revenue in 2021, thanks to the success of its subscription business.Elsewhere, BuzzFeed insiders have told Insider that the company is looking to acquire more companies. Meanwhile, SPACs and private equity firms are also circling the sector."There's no shortage of capital, so dealflow should be plentiful," media analyst Alex DeGroote said of digital media.Read more: 8 companies that experts say could be acquired as digital advertising firms grow hot againAside from some of the big marquee names, "there are likely to be rollup plays for all the subscale sub-$15 million to $20 million businesses," said Karen McCormick, chief investment officer at venture and growth investment firm Beringea. "Lots are being shopped around."Larger private equity firms are also increasingly taking aim at small, early-stage companies, McCormick said.Insider in December spoke with eight digital media experts including media executives, consultants, analysts, and bankers about the digital media companies that could get snapped up in the coming months. The list of nine companies, presented in alphabetical order, is speculative and not all of these companies are discussing deals.Interestingly, one of the buzziest names in the business — Axios — is not gearing up for a sale, a source familiar with the matter said.This article was first published in December 2020. It was updated on February 4, 2021 to include the news about Hubspot's intentions to buy The Hustle and to add information about Group Nine's SPAC. The Hustle was originally listed in this post as one of the digital media companies likely to be acquired next and has now been removed.
Bustle Digital Group
Bustle Digital Group CEO Bryan Goldberg
Bustle Digital Group
Total funding: $80 millionBryan Goldberg's Bustle Digital Group has established itself as an acquirer in recent years, largely buying distressed assets. Since 2017, it bought Elite Daily, Gawker, Flavorpill, Inverse, Mic, The Outline, and Nylon magazine. BDG also operates women's lifestyle website Bustle and parenting site Romper.A company like Bustle could help an acquirer benefit from economies of scale and cost controls to become more profitable, said John Potter, principal consultant at technology and internet media consulting company McCooey and Potter Consulting.He said Bustle could be attractive to a company like British-based Future PLC, which has been highly acquisitive in recent years (Potter was previously chief technology company at Purch, a publishing and technology company that sold its consumer content division to Future in 2018.)However, two of the experts we spoke to said that while Bustle is a prime property to be acquired, they couldn't foresee a deal occurring until at least late next year. Plus, one source said, BDG has "steep expectations" on its valuation."BDG is focused on its mission of acquiring assets and growing its existing profits with an eye towards the public markets," said a company spokeswoman in a statement. (Business Insider parent Axel Springer is an investor in Bustle Digital Group.)
FuboTV
David Gandler, co-founder and CEO, Fubo TV.
Fubo TV
Market capitalization: $1.8 billionSports-focused
streaming
platform FuboTV might seem like an unlikely acquisition target, having only just gone public earlier this month, but experts told us not to rule out M&A activity because the market for streaming services is still hot."Fubo has had a lot of inbound over the past 12 months," said Jay MacDonald, CEO of investment banking firm Digital Capital Advisors. "At this point, because other folks made acquisitions, that space has been rolled up. Fubo is one of the last remaining independents and it will continue to be looked at."FuboTV declined to comment.Digiday previously reported that DAZN, Otter Media's Crunchyroll and other niche streaming services could also be attractive to potential buyers.Fubo is growing nicely, its paying subscriber base having jumped 58% year-over-year to 455,000 in its third quarter. Total revenue rose 47% to $61.2 million, with the company benefiting from the crowded sports schedule and fall programming. Earlier this month, the company announced it acquired Balto Sports to bolster plans to enter the burgeoning sports gambling market. Terms of the deal were not disclosed.
The great digital media rollup: Group Nine Media, Vice Media, Vox Media
Vice Media executive chairman Shane Smith.
Frederick M. Brown/Getty Images
Total funding: Group Nine Media, $190 million, as of 2019; Vice Media, $1.7 billion, according to Crunchbase; Vox Media, $308 million, according to CrunchbaseThe idea of a mega digital media rollup was first floated by BuzzFeed CEO Jonah Peretti a couple of years ago. In an 2018 interview with The New York Times, he said that a bigger media company could take a bigger slice of the money Google and Facebook share with publishers. He name-checked Vice Media, Vox Media, Group Nine Media, and Refinery29 as potential targets.Since then, Vice acquired Refinery29 and Vox combined with New York Media. Group Nine formed a Special Purpose Acquisition Company in January of this year. And, of course, BuzzFeed is picking up HuffPost.As Business Insider reported, industry insiders are speculating that BuzzFeed is eager to tuck in more acquisitions. By consolidating, digital media companies can share resources, cut costs and pitch themselves to advertisers as a bigger force. BuzzFeed could also look to join with a
SPAC
, to help it go public and hunt for more companies. And SPACs are most likely to favor media companies with name recognition. However, large traditional media owners own big stakes in the digital media darlings and some invested in them at high valuations, which could block, or at least complicate, the path to IPO. Vice and Group Nine declined to comment. Vox did not respond to a request for comment.
Patch
Patch president Warren St. John
LinkedIn
AOL sold a majority stake in Patch to Hale Global in 2014. Financial terms were not disclosed.Patch was a hyperlocal media also-ran, marred by writedowns and layoffs. But once released from the shackles of AOL, which sold a majority stake in Patch to Hale Global in 2014, Patch has been on the up, turning a profit in 2016.A person familiar with the matter said Patch, which runs a network of local community news sites in more than 1,000 towns across the US, is "in a process" to sell. A separate person familiar with the company's financials said the company grew its third-quarter revenue by 46% year over year and that it remains cashflow positive.The coronavirus crisis and US elections have sharpened the focus on local news, said Ian Whittaker, an independent media analyst. There's also now a greater understanding that Google and Facebook derive much of their revenue from small-to-medium-sized businesses, he added."A lot of people will be thinking [local media] is an opportunity to break into the SME market," said Whittaker.
TheSkimm
TheSkimm founders Danielle Weisberg (left) and Carly Zakin.
Courtesy of theSkimm
Total funding: $28 million, as of 2018Establishing a first-party data strategy has become a key priority for media companies as they prepare for a cookie-less digital advertising market.Enter TheSkimm. Founded in 2012, the newsletter startup offers a daily news digest aimed at millennial women. The company's investors include Sara Blakely, the billionaire founder of Spanx; Shonda Rhimes; and Tyra Banks."They have [a] really good email list, which is key to first-party data in a cookieless world," said Sean Griffey, CEO of business journalism company Industry Dive. "They have an engaged audience and … [they] certainly are still cool and have heat."Yet TheSkimm's star has faded recently. TheSkimm began looking for an investor or acquirer last year, having not raised funding since 2018. It's also felt the hit from the coronavirus pandemic and enacted deep layoffs amid the advertising downturn, Business Insider previously reported. The company has met with investment bank LionTree, women-aimed publishing giants Condé Nast and Meredith, and others. A relatively small cost base could make it more attractive to a buyer.A spokeswoman for TheSkimm declined to comment.
TechCrunch
Former Yahoo CEO Marissa Mayer speaking at the 2012 TechCrunch Disrupt.
Reuters/Stephen Lam
Acquired by AOL (now owned by Verizon Media) for a reported $25 millionWith HuffPost soon to move out of the Verizon Media stable, speculation has turned to which of its other media properties could be next to follow, and TechCrunch, with its loyal audience of startup entrepreneurs and venture investors, is a likely candidate. Last year, the title introduced a subscription product, Extra Crunch.Verizon already took a $4.6 billion charge to write-down Verizon Media in 2018 — a little more than the $4.4 billion it acquired AOL for in 2015 — and a charge of $200 million earlier this year, further writing down the value of the unit. Tumblr, the blogging site Verizon's Yahoo acquired for $1.1 billion back in 2013, was sold to WordPress.com owner Automattic Inc. for a "nominal amount" last year, The Wall Street Journal reported. "TechCrunch is super undervalued," said Hooman Radfar, a tech entrepreneur and venture partner at startup studio Expa. A Verizon Media spokesman declined to comment.
Wondery
Wondery
Total funding: $15 million, as of 2019Podcasting is on a tear. Podcast's share of overall audio consumption in the U.S. reached a record high of 6% in 2020, up from 2% in 2014, according to Edison Research. Meanwhile, the Interactive Advertising Bureau estimates podcast advertising spend will hit $1 billion this year.It's little wonder that big media companies -- from Spotify, to iHeart and SiriusXM -- are making major landgrabs, valuing podcasting companies in the hundreds of millions of dollars.Next in line to get scooped up is likely to be Wondery, the 4-year-old company behind podcasts including "Dirty John," "Dr. Death," "Business Wars" and "American Scandal." The company was founded by former Fox executive and is backed by firms including Greycroft and Lerer Hippeau Ventures.Indeed, at least four companies including Apple and Sony have held talks about buying Wondery, Bloomberg reported, citing sources close to the matter. Wondery is reportedly seeking between $300 million and $400 million and on track to generate more than $40 million in revenue this year, according to Bloomberg, which reported on the talks in November. The Wall Street Journal reported in December that Amazon was in exclusive talks to acquire Wondery at a valuation of more than $300 million. The company is expected to generate more than $40 million in revenue this year, according to The Wall Street Journal report, which cited people familiar with the matter.Wondery did not respond to a request for comment.
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Avis To Acquire Zipcar - Business Insider
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Zipcar Is Getting Acquired By Avis
Sam Ro
Jan.
2, 2013,
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via FlickrZipcar, the popular car sharing service, is getting acquired by Avis Budget Group.
Avis has agreed to purchase the company for $12.25 per share, which is a monster 49 percent premium over Monday's closing price of $8.24.
Here's the statement from Avis:
PARSIPPANY, N.J. and CAMBRIDGE, Mass., Jan. 2, 2013 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (Nasdaq:CAR) and Zipcar, Inc. (Nasdaq:ZIP), the world's leading car sharing network, today announced that Avis Budget Group has agreed to acquire Zipcar for $12.25 per share in cash, a 49% premium over the closing price on December 31, 2012, representing a total transaction value of approximately $500 million. The transaction is subject to approval by Zipcar shareholders and other customary closing conditions, and is expected to be completed in the spring of 2013. The Boards of Directors of both companies unanimously approved the transaction, and Zipcar shareholders representing approximately 32% of the outstanding common stock have agreed to vote their shares in support of the transaction.
Car sharing has grown to be a nearly $400 million business in the United States and is expanding rapidly in major cities around the world. Zipcar has led this industry, leading in innovation and world-class service. Zipcar now has more than 760,000 members, known as Zipsters, with a market-leading presence in 20 major metropolitan areas in the United States, Canada and Europe, and fleet positioned at over 300 college and university campuses. Zipcar has combined leading-edge technology, an outstanding customer experience, and clear brand messaging to develop strong loyalty and advocacy among its customers.
"By combining with Zipcar, we will significantly increase our growth potential, both in the United States and internationally, and will position our Company to better serve a greater variety of consumer and commercial transportation needs," said Ronald L. Nelson, Avis Budget Group chairman and chief executive officer. "We see car sharing as highly complementary to traditional car rental, with rapid growth potential and representing a scalable opportunity for us as a combined company. We expect to apply Avis Budget's experience and efficiencies of fleet management with Zipcar's proven, customer-friendly technology to accelerate the growth of the Zipcar brand and to provide more options for Zipsters in more places. We also expect to leverage Zipcar's technology to expand mobility solutions under the Avis and Budget brands."
Avis Budget expects to generate $50 to $70 million in annual synergies as a result of the transaction. In particular, Avis Budget expects significant cost reductions across the fleet life cycle (from procurement to operations and maintenance to disposition, as well as financing), in addition to savings from eliminating Zipcar's public-company costs. Avis Budget also plans to achieve substantial cost savings by increasing fleet utilization across the two companies. Significant revenue growth opportunities exist, including by leveraging Avis Budget's fleet to meet more of Zipsters' weekend demand, which is currently constrained by fleet availability.
These synergies, combined with the expected growth and rising profitability of Zipcar, are expected to make the transaction accretive to Avis Budget's earnings per share in the second year following the acquisition, excluding certain items and purchase-accounting effects.
"We are delighted to announce our intention to join the Avis Budget Group family of companies, and we believe this combination is a win across the board for our members, shareholders and employees. We will be well positioned to accelerate enhancements to the Zipcar member experience with more offers and additional services as well as an expanded network of locations," said Scott Griffith, chairman and chief executive officer of Zipcar. "As the leading global provider of car sharing services, with a brand that is synonymous with the category, we remain committed to the values and vision that have driven us forward for many years, grounded by our passion for delivering a superior experience to every member for every trip, every day. By combining Zipcar's expertise in on-demand mobility with Avis Budget Group's expertise in global fleet operations and vast global network, we will be able to accelerate the revolution we began in personal mobility."
"Avis Budget's existing infrastructure, scale and experience with managing multiple brands make us uniquely positioned to accelerate the growth and profitability of Zipcar," Mr. Nelson added. "At the same time, we are committed to retaining the elements of the Zipcar brand and culture that have allowed Zipcar to achieve such rapid growth and success over the last twelve years."
Following the acquisition, Zipcar will operate as a subsidiary of Avis Budget Group and will continue with its planned move to new headquarters in Boston, Massachusetts. Avis Budget anticipates that key members of the Zipcar management team, including Mr. Griffith and Mark Norman, president and chief operating officer, will continue to set the overall direction and run day-to-day operations of Zipcar.
Avis Budget Group expects to fund the purchase price primarily with incremental corporate debt borrowings, as well as available cash. As of September 30, 2012, Avis Budget Group had cash and marketable securities of approximately $554 million, and Zipcar had cash and marketable securities of approximately $82 million, or approximately $2 per Zipcar share.
Citigroup is acting as financial advisor, and Kirkland & Ellis LLP is acting as legal counsel, to Avis Budget Group. Morgan Stanley is acting as financial advisor, and Latham & Watkins LLP is acting as legal counsel, to Zipcar.
Separately, Avis Budget Group today reiterated its previous estimates of its full-year 2012 results. Avis Budget continues to expect that its full-year 2012 revenue will be approximately $7.3 billion, a 24% increase compared to 2011, and that its 2012 Adjusted EBITDA will be approximately $825 million to $840 million, excluding certain items, an increase of 35% to 38% compared to the prior year. Avis Budget also continues to expect that its 2012 pretax income will be $450 million to $465 million and that its diluted earnings per share will be approximately $2.35 to $2.45, excluding certain items.
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Inside Roku, Talk Is Heating up About an Acquisition by Netflix
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Inside Roku, talk is heating up about an acquisition by Netflix
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2022-06-08T10:45:00Z
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Roku CEO Anthony Wood.
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Roku has a growing advertising business, something Netflix is looking to get into.
Roku started as a product inside Netflix. It was spun out more than a decade ago.
A deal makes sense, some insiders say. Others question Netflix's desire for a hardware company.
At Roku, a video-streaming platform operator that's suffered a punishing stock plunge, employees are buzzing about the possibility of an acquisition — and their talk and hopes are pinned on Netflix.Employees at Roku have been discussing the possibility of a Netflix acquisition in recent weeks, according to people familiar with the matter. The chatter comes as Roku's stock has dropped about 80% since late July on weaker demand for video streaming and lower set-top-box sales.Roku competes with Apple, Amazon, Google, and Samsung in the market for streaming devices, and some of those industry titans are battling with the smaller company for lucrative video-ad dollars. The collapse in Roku's stock made it hard to compete with its larger tech rivals on pay in a tight labor market. The result has been a staggering increase in equity grants to employees, leaving Roku well underwater on stock-based compensation.Roku has been seen as an acquisition target before — including last year, when, according to The Wall Street Journal, Comcast CEO Brian Roberts considered purchasing the company. In January, the departure of a top Roku executive stoked questions about the company's future.In recent weeks, the possibility of a Netflix acquisition has become the focus of internal chatter at Roku. That's when Roku abruptly closed the trading window for all employees, prohibiting them from selling any of their vested stock at a time when they should normally be able to do so, according to two of the people familiar with the matter. There may be other reasons for such a trading halt. Companies typically close trading windows for employees before releasing information that will affect their share price to avoid insider trading. Spokespeople for Roku and Netflix declined to comment.Netflix wants ads and Roku has them
Netflix co-CEO Reed Hastings.
Gonzalo Fuentes/Reuters
Some of the people familiar with the matter, along with industry bankers and other experts, told Insider the timing would be advantageous for both parties if they were looking to strike a deal. Roku's valuation had plunged below $13 billion as of the close of trading on Tuesday, making an acquisition easier to swallow than a year ago when Comcast was reportedly eyeing a deal.Netflix is looking to introduce advertising to its service for the first time as it faces increased competition and subscriber losses. Roku has built a robust video-advertising platform that generated $647 million in first-quarter revenue. That's about seven times the sales brought in by Roku's hardware business, which makes video-streaming boxes and related devices."It makes sense with where Netflix wants to go," a technology investment banker said. "And it makes sense in this current environment. Everyone is looking around thinking, 'I was worth twice as much last year. What happened?'" One senior-level Roku employee said a deal between the two companies would "align well in terms of culture, business, and current valuation." Netflix is trying hard to get into advertising-based video on demand "and Roku has it," this person added. Everyone who spoke with Insider for this story asked not to be identified discussing private matters. A long, intertwined historyNetflix has turned to acquisitions in the recent past to help it expand. When the company decided last year to start offering video games, it went on a mini acquisition spree, snapping up several small game developers, including Boss Fight Entertainment in a March deal. Roku and Netflix have a long, intertwined history. Anthony Wood, Roku's founder and CEO, developed a set-top box inside Netflix in the early 2000s. For many years, the companies operated their corporate headquarters next door to each other in Los Gatos, California. Reed Hastings, a Netflix cofounder and co-CEO, decided to spin that business out in 2008 over concerns that owning its own platform would hamper its ability to distribute its streaming app on other devices. In 2014, Hastings reiterated his lack of interest in hardware. "We're working with over 1,000 devices now. There's no value add for us to do a device," he said during an interview at the Code Conference.One Roku insider was skeptical of a deal, saying Netflix "never showed an appetite for getting into hardware." Roku commands a leading share of the connected-TV market in the US, but sales of its players tumbled 19% during the first quarter, resulting in a loss for the division.That part of the business is now dwarfed by Roku's advertising operation, though. And Netflix would get immediate scale in advertising by buying Roku.'There's no religion anymore'Netflix is under siege from other video streamers, sending its stock down about 70% in the past six months. Owning Roku would give it a huge competitive advantage when it comes to knowing what people watch and when they stop watching, not just on Netflix but also across rival streaming channels carried through Roku boxes.One media-industry executive who has spoken with Netflix in recent weeks told Insider that Hastings' view of his company's future was, "Nothing is off the table," and that he's open to anything."There's no religion anymore," this person said.Roku has more than 61 million active accounts, making it an important strategic weapon in the growing battle for video-streaming-ad dollars between tech and media-industry giants. While its neutral status was a valuable tool in the past, the company's direct connection to so many consumers and homes could give Netflix more power to negotiate with other platforms and industry titans. Indeed, Apple and Amazon run video-streaming services and sell their own streaming devices. That hasn't prevented those companies from offering rival services through their hardware.Yet some industry observers questioned whether it would make sense for Netflix to spend so much on an acquisition at a time when it faced pressure from investors to boost revenue growth and staunch subscriber losses. Despite purchasing several small video game developers recently, the company has eschewed major M&A deals.One industry analyst also highlighted that Netflix could run afoul of antitrust regulators if it tried to buy Roku. Another industry source said Netflix was early in figuring out what it wants to do in advertising and might not know yet if it needs to go shopping for a business the size of Roku.Despite recent share declines, Roku would probably cost Netflix at least one-fifth of its $88 billion market valuation.
Disclosure: Mathias Döpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member.
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Yahoo's Acquisitions Since Marissa Mayer Became CEO
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Finding The Logic Behind Marissa Mayer's Monster Acquisition Spree
Jay Yarow
2013-07-28T17:21:40Z
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Yahoo CEO Marissa Mayer.
Mario Tama, Getty Images
Marissa Mayer is on an insane acquisition spree as she tries to breathe life into Yahoo.
In this month alone, she's hoovered up four companies. Since she took over a year ago, she's bought 18 different companies, according to Wikipedia. (We checked Wikipedia against Yahoo's official Twitter feed which announced all the deals.)Her old company, Google, was a prolific acquirer, which must have been an influence over her style.We've assembled the companies here to try to make some sense of her scattershot approach to rebuilding Yahoo.If you look closely, you can see a pattern.
Stamped was the first company Mayer bought.
"Got to visit our new acquisition, Stamped, this morning - happy to be reunited with Robby (rmstein) and his team," Mayer posted on Instagram.
Twitter/@Marissamayer
Stamped raised ~$3 million. CEO Robby Stein was previously at Google, and worked with Mayer before she brought him to Yahoo. Yahoo reportedly paid around $10 million for Stamped.Stamped was a social mobile review app. Yahoo killed the product and put its team of 10 engineers to work on other stuff. We're not sure what the team is up to right now at Yahoo. Stein is a director of product in NYC for Yahoo building out a team, it seems.
Next, she acquired Ontheair, which did video chat hang outs.
OnTheAir raised $880,000 in seed funding. It was only around for a few months before it decided to sell to Yahoo. There were only five people on the team. They were building a video chat hang out for mobile phones.
Snip.it was a social sharing startup that collects links.
Ramy Adeeb
Snip.it was killed. It looks like Mayer wanted to hire its CEO Ramy Adeeb, who had a background in investing. He has an eye for startup talent, so he can help Yahoo make other acquihires.
Yahoo bought Propeld, which made Alike.
Maria Zhang, CEO, Propeld
GeekWire
Yet another acquihire...getting the picture here? The team said in the announcement of the acquisition that it was going to be joining Yahoo's mobile team. So, we're not sure exactly what it's doing. Previously, Alike was doing social recommendations for local businesses.
Next, it bought Jybe, a startup by former Yahoos.
Screenshot
Jybe was a recommendation startup. Yahoo wants stuff more personalized, so it's a sort of a fit.
Summly was the most controversial of all Yahoo startup purchases.
Yahoo paid $30 million for Summly, a summarization application built by a 17-year-old. The app takes longer stories and truncates them. Mayer has used it on her earnings calls, and Yahoo has it in Yahoo News. It was a big deal because it's built by a teenager, and it's unclear how much of the technology Summly built on its own.
Yahoo bought Astrid, a to-do list app startup.
Apple
Astrid had 4 million users. Yahoo killed it. Astrid only raised $400,000.
GoPollGo's three employees joined Yahoo.
Screenshot
GoPollGo did quick polling on Twitter. It raised less than $500,000 in seed money and its three team members joined Yahoo's mobile group in Sunnyvale.
On the same day it announced GoPollGo, it also announced the purchase of Milewise.
Screenshot
Milewise did search for travel, allowing users to calculate how much a trip would cost when factoring in credit card points. The product was killed and team joined Stamped founder Robbie Stein's group at Yahoo NYC.
Yahoo bought a gaming company, Loki Studios.
Screenshot
Loki used real world data to create mobile games. Yahoo hasn't done much with gaming, so we're not sure if it kept Loki's team on gaming, or if it just rolled its people into the mobile group.
Yahoo paid $1.1 billion for Tumblr, its first major acquisition.
Mario Tama, Getty Images
After a long run of acquihires, Yahoo made a full-on purchase when it paid $1.1 billion for Tumblr. The deal happened quickly, and was a bit of a shock. Yahoo is hoping that the social blogging platform will generate a lot of revenue in the future.
Playerscale was a gaming infrastructure startup.
Screenshot
Playerscale actually deviates a bit from the pattern. Playscale does infrastructure for online gaming. It doesn't look like Yahoo pulled the plug on the self-funded startup. Seven employees joined Yahoo.
Yahoo bought Ghostbird to improve Flickr.
Screenshot
Ghostbird did photo apps for the iPhone. In the announcement of the acquisition, Yahoo said Ghostbird would be used to improve Flickr. Instagram is running away with mobile photography. Marissa Mayer clearly thinks she can do something to stop Instagram, and Ghostbird is part of the plan.
Yahoo also bought Rondee, a conference calling service for small businesses.
Screenshot
Another deviation from the pattern! Rondee was a conference calling service that went to Yahoo's small business group. Kara Swisher, who knows Yahoo better than anyone, was baffled by the purchase.
Yahoo bought Biggnoggins, which is just one guy's startup.
Screenshot
This is an "acquisition" that makes sense. Bignoggin was the work of Jerry Shen. His tech was baked into Yahoo's fantasy sports apps.
Yahoo paid $50 million for Qwiki, which had hype early on.
Qwiki won TechCrunch's Disrupt contest back in 2010. The original vision was a video version of Wikipedia. That didn't pan out, so it pivoted three times, finally landing on some sort of mobile video story telling thing. Yahoo paid $50 million for the company.
Xobni was an email company.
Jeff Bonforte remembers Yahoo as a warm fuzzy place.
Flickr/Fortune Live Media
Here's a semi-logical acquisition: Yahoo paid ~$60 million for email management company Xobni. Yahoo mail is still a core piece of the company. Xobni will likely try to improve Yahoo mail.
Ztelic is the first international acquisition of the group.
Screenshot
Ztelic was a Chinese social network that Yahoo acquired for its R&D group. We have no idea what's up this is one. Mike Issac at AllThingsD suggested it would be used for Yahoo's "personalization" stuff.
What does it all mean?!?!
Yahoo
There's actually a method to this madness! Yahoo's acquisitions can be lumped into a few groups:1. The straight up acquihire. Take a company with no traction, kill the product, and plug its engineers into other parts of Yahoo.2. The talent-with-a-purpose acquisition. Buy a company that clearly could improve one of Yahoo's existing products. 3. Tumblr. Each group is a different way to get Yahoo back on its feet. Group 1 is in charge of creating new stuff. Group 2 is in charge of fixing stuff that exists. Tumblr is the hail mary that could just make the rest of Yahoo irrelevant if it's a big hit.
Apple has a lot more cash than Yahoo, but never spends it, here's some ideas for its cash...
Getty Images/Kevork Djansezian
How Apple Could Spend Its Insane $146 Billion In Cash >
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SOURCE: Music Service MOG Has Been Acquired By Beats - Business Insider
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SOURCE: Music Service MOG Has Been Acquired By Beats Audio
Matt Rosoff
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We've heard from a single source that subscription music service MOG has been acquired by audio technology company Beats Audio, which is part owned by phone maker HTC.
MOG would not comment, saying only, "We’re always looking for the best opportunity for our business and shareholders, but don’t comment on specifics of those conversations. Nothing to confirm at this time."
We heard the deal was signed last week. No word on price or what happens to the current MOG service and its subscribers.
Last month, MOG CEO David Hyman denied rumors that MOG was for sale, but admitted that the company had talked to potential buyers. Hyman told Reuters that MOG has 500,000 active users, but didn't say how many were paying for the service.
MOG is one of the smaller players up against Spotify, which recently claimed more than 3 million paying users.
Beats started off as an audio equipment company -- its best known product is a set of headphones designed by Dr. Dre -- but also provides technology that is supposed to make compressed digital music sound better. HTC invested $300 million into Beats last year and Beats technology has begun shipping on HTC phones.
In February, Om Malik reported that Beats was close to launching its own music subscription service to ship on new HTC phones.
Updated: GigaOm also reports that term sheets were sent back and forth between the two companies a few weeks ago, and AllThingsD has confirmed the report with other sources.
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SOURCE: Music Service MOG Has Been Acquired By Beats Audio
SOURCE: Music Service MOG Has Been Acquired By Beats Audio
HTC, which has a big stake in Beats Audio, wants a subscription music service on its phones. MOG might fit the bill.
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Apollo Exec Reveals Strategy Behind Tegna, Legendary Buys, Future M&a
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Media
Apollo Global partner reveals strategy behind firm's acquisition of 'Dune' producer Legendary, TV station group Tegna, and plans for further media M&A and 'our own IP'
Claire Atkinson
2022-02-22T20:47:53Z
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Apollo Global followed its acquisition of Hollywood studio Legendary with a deal to buy part of TV station group Tegna.
The private equity giant is poised to grow its portfolio as media companies may sell assets amid streaming consolidation.
"Legendary is about us making our own IP," said Apollo partner Aaron Sobel
Private equity continues to flood the zone in Hollywood and media.Apollo Global Management on Tuesday said it would be part of a deal to acquire TV and radio station group Tegna for $5.4 billion alongside another private equity firm, Standard General. Tegna has 64 stations and is the biggest independent owner of NBC affiliates. Last month, Apollo jumped again into the traditionally risky Hollywood film and TV production business acquiring a minority stake in "Dune," producer Legendary Entertainment for $760 million.Among other past entertainment investments, it previously held a controlling stake in Charter Communications and 50% of "Keeping Up With the Kardashians" producer Endemol Shine (Apollo and co-owner Disney sold the company in 2019). The Legendary investment comes soon after Apollo snapped up station group Cox Enterprises, which has 57 stations, and spent $5 billion to acquire Verizon's AOL and Yahoo.Aaron Sobel, a partner at Apollo and now a Legendary board member, talked to Insider about why he sees value in content production and what the private equity sector has its eye on next. Perhaps CBS? This interview was edited for clarity and conducted ahead of Apollo's Tegna deal announcement. What's the rationale for acquiring Hollywood producer Legendary?We've had a long history in media. We've been around 32 years.It's pretty clear there aren't going to be seven subscription VOD platforms in the next five to 10 years. They're all fighting over survival and you have a lot of very big media companies like Netflix that aren't going away, but the entire market isn't going to win. So you go down the list, Discovery with HBO Max, Paramount, Peacock, Amazon, Apple … everyone's figuring out how much of the ecosystem they're going to get and there's going to be a lot of consolidation. There's clearly going to be a very big shift.There's so much money being spent on content right now. We've been trying to figure out how to play this thesis and obviously we're not going to be a big over-the-top platform. We've been hunting for something that is a good asset, has strong cash flow, but at the same time is extremely exposed to all this secular growth in media. And so why Legendary?What makes them unique is that they make money three ways. They have a big library, with billions of dollars of value that they've generated by doing movies with Warner Bros. and Universal. There's cashflow embedded in all these movies, so that helps fund the business. They [also] make money by making TV shows. The whole industry has moved to a "cost plus" model, so if I make a movie for Netflix, I make a 15 to 20 percent margin. When we would make a TV show for Fox in the US we might even lose money but we'd own all the international rights and the IP outside the US. Now Netflix owns it all.We've been very focused on whether we could get into the production business in a way that would create value. We also make money through "terminal value," we own it. [Terminal value is the value of an asset beyond a set period.] Another way to invest in media is talent. Our firm supports people who are making movies and shows as opposed to being in movies and shows. Legendary is about us making our own IP.
Zendaya in Legendary's "Dune," which scored 10 Oscar nominations.
Warner Bros.
What else are you going to do with Legendary? CEO Joshua Grode told Variety there would be more M&A.Across the globe, the streamers haven't really penetrated. Netflix growth has to come internationally. A lot of countries have rules like France, where you have to produce a certain amount of content in a country; you have to have production companies in all these countries. You are going to be seeing us do M&A and there's much more that's going to happen. Take Viacom [now named Paramount] and CBS: I have no view on whether it is going to be combined with Comcast — but Comcast would have to sell one of the broadcast networks, or they would have to sell one of their studios. [Comcast owns NBC and Universal; Paramount owns CBS and Paramount Pictures.] As you think about the puzzle pieces, there are lots of people thinking about this in the industry, it's going to force a lot of things out. I think we will be a very good platform to ultimately acquire whatever comes out. Legendary is partly owned by China's Dalian Wanda Group. How will the relationship with China be of help to you? When people quote box office numbers, China is so big. It's the third-largest market [for US exports], so as we grow movies, being able to take advantage of the Chinese market is something we are very bullish on. The fact you have a joint venture in Asia allows you to bring more movies than [the quota] permitted by the Chinese government, because the Chinese have an ownership stake. It's clearly a growth avenue. Do you see ways to create advantages for Apollo's other media sector assets in tandem with Legendary?We obviously own Yahoo and Cox. We have 32 television stations and Legendary makes TV shows. [Tegna owns 64 stations.] Why can't those shows be distributed on our TV stations where we don't have news and sports? Yahoo's distribution is massive, they are one of the most-viewed websites in the world. There's got to be stuff we can do. We've talked about some really creative ways even for brand placement.We own consumer products. Is there a way for some of those consumer products in movies to draw value? I think with our ecosystem we can build additional businesses on top.Is there a way to create a consumer product and have it be advertised on Cox and have it show up in product placement in a Legendary movie and have it on a shelf at Fresh Market, which is our supermarket.The Apollo platform is valuable and we're thinking about ways to take advantage of it either by creating businesses or creating value by partnership.Are we going to see more Legendary franchises?You're going to see us, with Legendary, be more aggressive around the velocity of content. So the nice part about this investment is that Josh [Grode] knows that there's more capital from Apollo willing to support the business. Hopefully you'll see a lot more TV shows and movies. The pipeline for the next three years in terms of movies, we've already taken up in terms of velocity. It's an excellent way for us to get into the media.
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These Two Charts Show Just How Brilliant Zuckerberg's Instagram Acquisition Was
Nicholas Carlson
Oct. 10, 2012, 11:59 AM
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Even defenders of Facebook CEO Mark Zuckerberg start by calling him a
"product visionary."
But it's becoming increasingly clear that Zuckerberg is also a
bold and effective actor on a strategic, corporate level.
The best example of this so far is his billion dollar purchase of
Instagram over a weekend during the
Spring of this year.
When he did it, he did it over a weekend and all by himself -
without notifying the board until he was about done with the
deal.
Because it was right in the middle of Facebook's IPO warm-up,
this freaked some people out. They wondered if too much of the
company's fate rested in one person hands.
These people should rest easy.
Look at this chart.
It shows that Instagram, which Facebook bought for 1% of its
market cap, now
accounts for approximately* 20% of its monthly
active users on mobile, according to new data from ComScore.
Let's look at another chart.
The blue area in this chart shows what Facebook's mobile growth
would look like over the last six months if Zuckerberg had
not made his big move.
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M&A
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[
{
"label": "M&A",
"score": 0.9994756579399109
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DIGITAL MEDIA Insider: Meaning of Minecraft Acquisition – Recent Publisher Trends
– Ad Tech Draws Attention
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DIGITAL MEDIA INSIDER: Meaning Of Minecraft Acquisition – Recent Publisher Trends
– Ad Tech Draws Attention
Hope King
2014-09-16T11:00:00Z
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Digital Media Insider is delivered first thing every morning exclusively to BI Intelligence members.IMPACT OF MICROSOFT'S $2.5 BILLION BUY OF VIDEO GAME MAKER: Microsoft will pay $2.5 billion for Mojang, a Swedish game developer whose crown jewel is Minecraft, the third best-selling video game of all time behind Tetris and Wii Sports. Minecraft that lets users build and destroy virtual worlds out of Lego-like blocks, and can be played on video game consoles, desktop computers, and mobile devices. With Minecraft, Microsoft will have extended reach into audiences across multiple channels, but mobile is particularly important to Microsoft. Earlier this year, Microsoft CEO Satya Nadella described gaming as "the single biggest digital life category measured in both time and money spent, in a mobile-first world." Minecraft is consistently one of the top apps by download, according to App Annie, and the large sum to be paid for the game and its maker indicates just how much Microsoft values gaming. Thanks to smartphones, gaming has become an essential form of digital content. Gaming is no longer constrained to dedicated video game consoles or desktop computers because mobile devices now operate as both a device console and controller. What this means is that people have more opportunities to play more varieties of games, and as a result, we expect publishers to develop mobile games not only as standalone apps, but also as simple interactive features related to the content they create, like the kind BuzzFeed plans to develop. Additionally, digital media businesses should expect to learn more about the people who play video games, and about the various types of monetization strategies:Almost half of all US video game players are women, a key demographic for marketers. About 48% of all players are women. What's more, women video game players who are over the age of 18 make up 36% of the total population of players, more than the 17% who are boys 18 or younger. This means developers have a unique opportunity to create targeted games for this audience. One prime example of this is Kim Kardashian's successful mobile game, Kim Kardashian: Hollywood; it's been one of the top grossing freemium iPhone apps for more than a month, according to App Annie.Monetizing games has become more sophisticated with improved technology. From in-app purchases for extra lives and bonus features to real-time streaming of ads and product sponsorship within games – not to mention traditional banner and interstitial ads –there are now numerous creative and integrated ways to make money as people play. Revenue from mobile video games is expected to exceed $21 billion this year, by some estimates.AL JAZEERA'S NEW APP REFLECTS LATEST TRENDS IN DIGITAL NEWS DELIVERY: Across the country, and around the globe, traditional print and TV media entities have been looking for ways to stay relevant in a web-first world. Over the past few weeks, some large publishers have reinvented themselves, or created new offerings, in order to entice audiences to linger, come back, and engage with their digital platforms. They've all done so through similar methods, and Al Jazeera's latest venture is no different:First, more dedicated apps. Al Jazeera, the Qatar government-funded news outlet, just launched its mobile app-only news network AJ+. The app focuses on telling news stories using a collection of content "cards," or individual multimedia posts. For example, a story "stack" on Apple's new product launch could be comprised of a short video clip, infographic for context, a written story, related pages (links to Apple or other third party sites, etc.), and a comment forum. In a video introducing AJ+, producers emphasized the app's mission to create "community" around "discovery" and "serendipity" – a nod to the wave of niche social discovery apps like Snapchat and Instagram that are currently gaining strong adoption. Giving readers the ability to go deeper with content organized in screen-sized snapshots. Like Yahoo, which just launched an enhanced version of its popular News Digest app for tablets, AJ+ understands that if content is relevant and valuable, readers may want to explore further, and apps should give them more to explore. By creating layers of content "cards" and expandable sections, AJ+ and Yahoo are repackaging information in more digestible digital formats so that instead of having to stick with an article or video all the way through, visitors can more easily control the information they want to see.Aggregation. Editors and producers at AJ+ are doing what a lot of other news and media organizations are doing – curating content from third party sites – because aggregation helps keep readers on sites longer, and improve a site's intellectual credibility and trust with readers. It's essentially like saying, "Hey, we know there's other good stuff out there you might want to search for, so we're just going to bring it to you instead." (On the other hand, aggregation could be confused with native ads, or content served by recommendation platforms, if the two formats are placed in close proximity to each other.) Two other publishers that recently launched staff-curated aggregation posts are The Washington Post (The Most), and Re/code ("#Mustreads" and Re/wind).NEWS AGGREGATION APP FLIPBOARD INTRODUCES FULL PAGE VIDEO ADS: Flipboard, the mobile app that lets readers curate their own news from around the web, started testing full-screen video ads, Ad Age reports. Among the first 10 advertisers to pilot the new format are brands like Gucci, Chrysler, Jack Daniel's and Principal Financial Group, which hints at the kind of user Flipboard has. (The company claims to have 100 million users.) Flipboard's recent funding valued the startup at $800 million, according to Re/code, and it recently acquired app maker Ultravisual to help users build more aesthetically pleasing personalized news magazines with greater ease, the company said. But perhaps, Ultravisual will also help Flipboard create more visually appealing ads.MAINSTREAM MEDIA PAYING MORE ATTENTION TO PROGRAMMATIC AD INDUSTRY: The Economist published a feature story on the current state of programmatic advertising, a sign that ad tech is becoming increasingly important to the global economy as more companies derive their income from the digital world. The story compared where advertising is today to the automation of the financial markets in the 1980s, highlighted the need for the industry to simplify how various platforms feed into each other, described the lack of transparency on how companies try to make money off small profit margins, and raised the question about whether or not much staff is needed to run automated exchanges if algorithms perform most of the heavy lifting. In the US, programmatic ad spend reached $6 billion last year, and we expect that spend to more than double by the end of next year to over $12 billion (see chart, below).BuzzFeed also tried to shed light on the complicated mechanisms behind digital ads in a story about how Facebook decides which ads to show to people. About 11 million to 12 million ads are active on Facebook every day from 1.5 million advertisers, the company told BuzzFeed. When users look at their News Feed, they see only about 10 or so of those ads. The process that Facebook shared with BuzzFeed doesn't reveal much that isn't already known – that Facebook uses targeting and re-targeting algorithms based on demographic data and content signals from organic posts – but writing the article in the first place shows that there is growing interest, and concern, from professionals and consumers alike on digital advertising. THE FRENCH FIND NETFLIX A CULTURAL THREAT:
Netflix
just launched in France, and is facing a lot of industry competition and complaints. Many media companies in the country fear Netflix will erode French culture, and accuse the company of avoiding local taxes which other French TV networks and
streaming
services like Canal+ pay, The Telegraph reports. Additionally, French telecom companies like Orange have blocked Netflix from being played via their TV boxes because financial terms have not yet been set.International expansion is a key part of Netflix's growth strategy, so it will be interesting to see how long this friction will last, and if Netflix will face similar types of cultural resistance as it moves to operate in more international markets. Almost 30% of Netflix's subscribers are non-domestic, and that share continues to grow (see chart, below).APPLE'S NEW iPHONE PREORDERS ARE TWICE AS MANY AS PREVIOUS: More than 4 million preorders were placed for Apple's iPhone 6 and 6 Plus within the first 24 hours, the company announced. Two years ago, preorders for the iPhone 5 totaled over 2 million during the first 24 hours. Some say that the new iPhones could be the biggest product launch in Apple's history, which means digital advertisers will have many more mobile devices to target.YO SAYS IT HAS 1.5 MILLION MONTHLY ACTIVE USERS: Every second, 14 or 15 Yos are sent, Moshe Hogeg, Yo's co-founder told TechCrunch. The company said that in the summer, during the initial hype over the one word message app, the peak number of Yos sent reached as many as 100 per second. Companies like YouTube, NBC Nightly News and Yahoo are currently using the platform as a mobile notification system. Here's what else BI Intelligence subscribers are reading...THE SOCIAL-MEDIA DEMOGRAPHICS REPORT: Differences In Gender, Age, And Income At The Top NetworksGlobal Digital Video Ad Revenue Is SkyrocketingPinterest Closing In On 65 Million U.S. Monthly Unique Visitors, Far Outpacing TumblrTHE PROGRAMMATIC ADVERTISING REPORT: Forecasts And Top Trends As Ad Automation And Auction-Style Buying Take OffNetflix's Subscriber Base Surges Past 50 Million UsersFeedback, tips and insights? Please email Reporter Hope King at hking@businessinsider.com.
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"label": "M&A",
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Over a Dozen Staff Leave BlackRock's Private Credit Biz After Tennenbaum Acquisition.
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Finance
An exodus at BlackRock: A dealmaking push into private credit led to frustrated employees leaving
Danielle Walker and
Rebecca Ungarino
2022-09-21T16:12:39Z
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Larry Fink/Reuters, Tyler Le/Insider
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After BlackRock acquired private credit firm Tennenbaum Capital Partners, more than a dozen employees left the small investment team.
Former BlackRock employees say underwhelming pay and unfulfilled promises that the team could raise its own special situations fund led to widespread frustration and departures.
The departures come as BlackRock aims to compete more aggressively in private credit, a key part of its high-priority alternatives push.
Clashes between investment teams, deflated hopes of a fund launch, and pay disputes have contributed to a years-long wave of departures from BlackRock's private credit investing team, former employees tell Insider. BlackRock has prioritized growing its $320 billion alternative business in recent years, with a focus on private market investing. To bolster that growth, BlackRock acquired the small private credit firm Tennenbaum Capital Partners, or TCP, in 2018. Since then, however, more than a dozen professionals have left the 35-person investment team that joined from Los Angeles-based TCP, Insider has learned. Indeed, the string of exits and tensions within the private credit business grew so untenable that BlackRock president and cofounder Rob Kapito stepped in to try to smooth over frustrations in the group and stem the outflow of talent, said four former BlackRock employees, who spoke to Insider under the condition of anonymity.Within months of the TCP deal closing, Kapito flew to Los Angeles to meet with the investment team, one of the former employees said, noting that the group had already lost multiple managing directors by then. One major point of contention within the group was whether employees from the TCP team would be able to launch their own special situations fund at BlackRock — which never came to fruition, people familiar with the matter said. Sophisticated investors who are focused on "special situations," as the style is broadly known, seize on major corporate events like bankruptcies, acquisitions, or litigation, which impact the price of an asset. "Over time, it became clear that BlackRock wanted Tennenbaum to only focus on direct lending, rather than distressed and special situations investing," one of the former employees told Insider. BlackRock had an existing special situations fund in the US, run by David Trucano, a dynamic that spurred internal conflict, the person added.Tim O'Hara, then BlackRock's global co-head of credit, helped oversee the TCP acquisition. He left and joined Wells Fargo, where he was named head of banking in the corporate and investment bank in May. BlackRock is better known for its low-cost exchange-traded funds than its alternative assets prowess. Still, in recent years management has made it clear that its private investment capabilities need to be an important engine of growth. Private markets are "a major strategic area of focus at BlackRock," Morgan Stanley analysts led by Betsy Graseck wrote in a research report in June. By offering a growing array of alternatives, traditional asset managers tap into stickier fees and revenue and boost organic growth, they wrote.Disagreements over compensation The exodus of talent in recent years from both the TCP team and the wider private credit platform — some of whom left for large alternative asset managers like Apollo and Ares — comes at a highly competitive and in-demand moment for the private credit market. Despite senior-level exits, the business has grown headcount and client assets since 2018. When the TCP deal was completed in August 2018, BlackRock's global credit team managed $90 billion in assets — a figure that stood at $149 billion as of June 30, a person familiar with the firm told Insider."With the growth of our client assets, it's been a significant investment over the last several years, " Jim Keenan, BlackRock's chief investment officer and global head of credit, who helped steer the TCP acquisition, said in an interview with Insider. "And that's something that we'll continue over the next couple of years with regard to how we're budgeting and how we're thinking about headcount." The exits underscore the risks that come with smaller acquisitions that big traditional asset managers are going after as they seek out private-markets investment teams. Franklin Templeton, T. Rowe Price, AllianceBernstein, and PGIM have all announced alternative asset acquisitions since 2021. "BlackRock is great at raising low-fee capital — ETFs, mutual funds. But it's never really been good at raising high-fee capital," a former employee said. Disagreements over compensation were at the heart of some employees' frustrations, according to interviews with four of the former employees. Some employees from the TCP team stayed long enough to receive their retention bonus, one of the people said. Another person said: "BlackRock doesn't pay that well. People knew Tennenbaum was being overpaid relative to BlackRock standards." In recent months, three BlackRock investment professionals who moved to the firm in the TCP deal have left. Managing director Kenneth Saffold, an investor well-known in the Atlanta community, left and cofounded the investment firm o15 Capital Partners with former Invesco and BankUnited executives, Insider reported in June. Another BlackRock managing director, Brad Pritchard, joined the venture debt firm Runway Growth Capital in August. Daniel Levan, a director at BlackRock, also recently left the private credit team, according to two former BlackRock employees who spoke to Insider and a public pension disclosure, which noted the departures of Saffold, Pritchard, and Levan. BlackRock confident in the team's growthIn a joint interview, BlackRock executives said they were confident in the team's growth and performance. Raj Vig, the co-head of US private capital at BlackRock who was a longtime TCP executive, said 2021 was a record year of capital deployment. "Investors vote with their wallets. That is the ultimate validation, or not, of success — performance and fundraising," Vig said. "At the end of 2021, we had over twice the amount of committed capital from investors in our direct lending business as we did at the end of 2018."When the TCP deal was announced in April 2018, the Los Angeles-based manager had $9 billion in committed client capital and more than 80 employees, a release from BlackRock said.Many investment companies, to be sure, face challenges in hiring and retention. Dan Sondhelm, CEO and founder of Sondhelm Partners, an asset-management consulting firm, said that given how hot the private credit market is right now, deal-hungry firms may run the risk of not being able to hold onto investment talent for long — especially once retention packages time out. "There are other opportunities right now. They could get taken away and hired by another company that wants to enter the space," Sondhelm said. "They could just decide: 'We're going to start our own company.'"Private credit has been "a pretty strong asset class for several years now," Sondhelm added, noting that investors are in search of higher levels of income that aren't strongly correlated to the volatility of stocks."Whenever there's a category like that where there is interest and growth, there are going to be companies who want to get into that space."'Promises that were not delivered on' Other exits followed the TCP deal.Howard Levkowitz, who co-founded TCP in 1999; Mark Kronfeld, who was global head of restructuring in BlackRock's private credit group; and former TCP finance chief Paul Davis all left last year. In 2020, Michael Leitner, a managing director responsible for co-leading direct lending and special situations strategies, left. At least six associates focused on private credit left this year for competitors, according to a former employee and a review of LinkedIn. Other senior departures who did not join BlackRock through the TCP deal included Michael Zugay, former head of US private capital; Alex Dashiell, a former managing director in USPC and a member of its investment committee; and Aaron Kless, former head of USPC investment strategies.Still, through the turnover, BlackRock has continued to hire investment professionals within its US private capital team. Its headcount has grown 70%, to some 60 investment staff since its acquisition of TCP, according to a person familiar with the firm.Phil Tseng, who co-heads US private capital with Vig and who also joined BlackRock through the TCP acquisition, said managing investment talent well goes hand-in-hand with driving returns for clients. "It's not to say that the private credit market is easy to manage talent. It's not, because it's competitive. There is a lot more capital coming into this space," Tseng told Insider. "So we understand that there could be normative attrition and churn. But we try to take that into account, and we've really invested in the business to scale our team commensurate with our capital base and our deployment."BlackRock said when it acquired TCP that a "key element" of the deal was TCP's senior management team — including Leitner, Levkowitz, Tseng, and Vig — sticking around. All of TCP's partners signed employment agreements and were expected to join BlackRock, while TCP anticipated that all of its more than 80 employees would move to the money manager, a May 2018 presentation TCP provided to a public pension investor shows. The presentation, which was published online by the pension, also said that incentive or retention packages were to be offered to TCP investment team members.Senior-level members of the TCP investment team, at the principal level and above, were offered four- or five-year retention packages, one of the former BlackRock employees told Insider.Former employees said they believed that BlackRock management had told Trucano, who runs BlackRock's opportunistic credit platform and works on special situations and distressed investing, that TCP would not encroach on Trucano's business. This frustrated the TCP team, who for years focused on special situations — and who assumed they would be able to keep doing just that type of investing when they arrived at BlackRock. BlackRock declined to comment on the former employees' assertion."People really felt burned by promises that were not delivered on, and felt they were misled, especially with special situations," one of the former employees said, adding that they felt management "told Trucano one thing" and told the TCP team "the exact opposite." A former employee of BlackRock, who is familiar with the TCP transition, pointed to overall differences in the cultures that also played a role in growing tensions, and eventual departures."When you join a big company like BlackRock, it's just a lot more political. You kind of have to stick out," the person said. "I think it's a little bit of a culture shock to go from a smaller group that's a little more intimate and meritocracy based… and that's probably tough on folks."
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CNN Acquires CNNbrk Twitter Account With Nearly 1 Million Followers
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Hard to believe, but the CNN Twitter account racing Ashton Kutcher to 1 million subscribers wasn't even under CNN's (TWX) control until recently.
CNN confirms that it has has taken control of the @cnnbrk account -- and its 944,000 followers. CNN didn't disclose any financial details, but said it's been working with previous owner James Cox on the account for more than two years.
This is no-brainer for CNN, and we hope they paid Cox a lot of money for the account he's nurtured. By adding more stories to the feed -- and links to CNN's site -- CNN.com could generate hundreds of thousands of extra pageviews per day. (CNN isn't sure if it's going to add links in the near-term.)
Whoever is control of the account has been tinkering with it in the last hour or so, adding five CNN-owned or CNN reporter accounts to the ones it's following.
Not a coincidence: A recent tweet on Cox's account suggests he's recently visited CNN's HQ in Atlanta. "On the way home after a busy two days. Goodbye Atlanta!" Indeed, he's been at the CNN campus for the last few days talking about Twitter and social media.
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CNN Acquires CNNbrk Twitter Account With Nearly 1 Million Followers
CNN Acquires CNNbrk Twitter Account With Nearly 1 Million Followers
Hard to believe, but the CNN Twitter account racing Ashton Kutcher to 1 million subscribers wasn't even under CNN's control until recently.
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IBM's New CEO Starts the Year With a Bang, Making Her First Acquisition
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American Express Acquiring Steve Case's Revolution Money For $300 Million - Business Insider
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American Express Acquiring Steve Case's Revolution Money For $300 Million
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Another big deal in the next-generation consumer financial products space.
American Express (AXP) has just announced the acquisition of Steve Case's startup Revolution Money for $300 million.
Revolution Money, which is frequently described as a PayPal killer, allows merchants to process payments at a rate much lower than traditional card companies.
This has shades of Intuit buying Mint.com -- the old guard financial products company buying the new wave.
Full announcement:
----
American Express Company (NYSE: AXP) today announced it has agreed to acquire Revolution Money, a Revolution LLC company.
Revolution Money, launched by AOL Co-founder Steve Case's Revolution LLC in 2007, provides secure payments through an internet based platform. No names or account numbers appear on Revolution cards and transactions are authorized by using a PIN number. The company's online person-to-person payment accounts are FDIC insured and ideally suited for social and instant messaging networks. It also offers a prepaid card linked to those accounts that can be used for offline payments or to withdraw cash from ATMs throughout the United States.
"New payments products and platforms are evolving rapidly and it's important for us to keep identifying Cutting Edge technologies that can extend our leadership beyond the traditional payments arena," said Kenneth I. Chenault, chairman and chief executive officer of American Express. "While Revolution Money is a young and relatively small company, we believe it has big potential. This is a smart, nimble business. It's run by an accomplished management team who have quickly developed some cutting edge e-payment offerings. Joining with American Express will help unlock their potential, while allowing us to deliver competitive online payment products more rapidly and efficiently."
"Revolution Money has a lot of room to grow as it competes head-to-head with other online and person-to-person payment providers. We are committed to using our global brand recognition, marketing reach and network expertise to help reach a critical mass of customers," said Mr. Chenault.
The transaction, which is subject to regulatory review, is expected to close in the first quarter of 2010. The purchase price is expected to be approximately $300 million. Upon closing, Revolution Money would operate as a subsidiary of American Express and be the first component of its recently formed Enterprise Growth organization. Enterprise Growth was formed to leverage American Express' existing assets and capabilities to generate incremental fee revenue and to drive the company's entry into new payment areas and related businesses.
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American Express Acquiring Steve Case's Revolution Money For $300 Million
American Express Acquiring Steve Case's Revolution Money For $300 Million
Old-line credit card company tries to get hip.
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Grading Google's Acquisitions
http://www.businessinsider.com/grading-googles-acquisitions-2009-10/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Sun, 01 May 2016 06:23:07 -0400
Jay Yarow
http://www.businessinsider.com/c/4cecee84ccd1d5900e090000
Noel W
Wed, 24 Nov 2010 05:52:52 -0500
http://www.businessinsider.com/c/4cecee84ccd1d5900e090000
how long before<a href="http://www.broadband-finder.co.uk" target="new" style="color:inherit;text-decoration:none">google broadband</a> they have google tv and other things. the main thing i can remember failing is google buzz or wave was it haha.
http://www.businessinsider.com/c/4ca0ec3e7f8b9a5c34840000
john stead
Mon, 27 Sep 2010 15:10:54 -0400
http://www.businessinsider.com/c/4ca0ec3e7f8b9a5c34840000
Our first choice for a compare car hire would be split between the local specialiced compare car hire companies and auto-europe.com . They are compare compare car hire, the online booking procedure is simple and the website is really fast. Second choice would be travelselect.com as it seemed to me they do go for a local car rental host. priceline.co.uk , opodo.co.uk and Lunn Poly book cars using holiday autos which is a very established car hire company.
Quick tips on compare car hire
Up until last year, we hired a car at compare airport every summer during our vacation. I guess it is pretty much the same all around Europe on how to rent a car compare. So allow me not to go into it.
But, I found some special issues which you might consider on your next car hire in compare:
Air Condition
Starting from April until November temperatures can be up to 40 C. Even now (in March) we already had days with 28 C. Needless to say that either air condition or opening the window manually are the two choices you have. (I go for the first option :-)
Baby/Children Seat
If you are travelling with a baby or child (we did over many years) you should really consider bringing your baby/child-seat with you. Sure, you can hire them with your compare car hire - but we tried this twice - and always got just dirty and insecure seats. We are certainly not the only one, because whenever I wait for my luggage at the airport I see people carrying there compare baby seats.
So don't care if it means a little bit of hassle - for your childrens safety it is worth it!
Extra Driver
It doesn't matter if you booked an compare extra driver at home - make sure at the car rental desk that they got the extra driver registered. If you and your partner want to drive the compare car - it must be in the papers you sign at the airport - (it does not matter what you might have ordered at your travel agency).
My wife and I had exactly this problem some years ago. So - please double check, if the extra driver is in the paper.
Booking at Home
Please make sure you book your car via your travel agency or via an internet travel agent. It is compareer and easier, as particularly during summer season compare car rental companies are heavily booked. Book your car from home - before you travel to compare. See where you will find the car hire counters and the parking lots where you can pick up your car. Full of information about major and local companies who offer <a href="http://www.elephantcarhire.com/">compare car hire</a>.
http://www.businessinsider.com/c/4bfa9e1e7f8b9a7e737f0400
Jim
Mon, 24 May 2010 11:41:18 -0400
http://www.businessinsider.com/c/4bfa9e1e7f8b9a7e737f0400
Doesn't anyone at your company proof-read these things?
The grammar is TERRIBLE.
http://www.businessinsider.com/c/4ba4a4377f8b9a29041a0200
nancy
Sat, 20 Mar 2010 06:32:22 -0400
http://www.businessinsider.com/c/4ba4a4377f8b9a29041a0200
<a href="http://www.qlbi.com" target="_blank">شات</a> | <a href="http://chat.qlbi.com" target="_blank">دردشة قلبي</a> | <a href="http://www.qlbi.com/vb" target="_blank">منتدى قلبي</a>
http://www.businessinsider.com/c/4b58d5e30000000000375648
Anders Borg
Thu, 21 Jan 2010 17:32:03 -0500
http://www.businessinsider.com/c/4b58d5e30000000000375648
Why acquiring makes so much sense, if you have the money:
* You save years of development and market building time.
* You get rid of a competitor that might shadow your own similar service
To Google services don't necessarily have to become profitable, as long as competition is kept away from the advertising dollars.
Those selling the companies obviously care most about cashing in.
http://www.businessinsider.com/c/4ae37d510000000000f565f5
bill
Sat, 24 Oct 2009 18:18:57 -0400
http://www.businessinsider.com/c/4ae37d510000000000f565f5
The co-founder of Applied Semantics (your only a+) just launched Factual - a very interesting company.
Just thought it was worth mentioning since you gave some background on what other former founders moved onto after selling to Google.
http://www.businessinsider.com/c/4ae29ce3000000000056d14b
lubomir
Sat, 24 Oct 2009 02:21:22 -0400
http://www.businessinsider.com/c/4ae29ce3000000000056d14b
The Big G is going to buy what they want and you can do shit about it.
All I care about is a growing Google revenue.
Go GOOG, get them tiger.
http://www.businessinsider.com/c/4ae23268000000000083ffcb
NM64
Fri, 23 Oct 2009 18:47:03 -0400
http://www.businessinsider.com/c/4ae23268000000000083ffcb
I'm on both sides of the fence here on the ON2 deal...
People have been saying about improving YouTube, but I think it's much more than that - IMO it's about the codecs and HTML5.
Google has stated that they aren't satisfied with Theora's video quality, so it's possible that they wish to release VP7/8 as open source for use in HTML5.
This is something that cannot be done through licensing.
If this were to happen, it'd transform web video and we'd never need to rely on stupid flash player or other plugins again.
While I REALLY want that to happen, I feel bad for the stockholders... I can't help but think it's ON2 at fault and not so much Google after reading about various somewhat-shady things that went on within ON2.
Seeing that Google's raking in the money, I'd really like if they just offered a considerably higher amount to satisfy shareholders while getting quality video codecs for open-source development.
http://www.businessinsider.com/c/4ae213cb0000000000cc283a
frank mazda
Fri, 23 Oct 2009 16:36:27 -0400
http://www.businessinsider.com/c/4ae213cb0000000000cc283a
About the On2 acquisition, I believe one thing has been forgotten: On2 accumulated millions in losses in the past 10 years it's been publicly trading. Now, for the first time in 10 years, the company is profitable (or break even at least, excluding acquisition costs related to the Google offer)
Any buyer of ON2 technology today would benefit of a 30-40 million dollar write off (all the losses so far accumulated).
Deduct that from the $106M Google wants to pay: this deal is a STEAL.
Compare that to the $1,650M Google paid for youtube and start laughing.
Keep in mind that On2 has a technology that revolutionizes Youtube's video experience for quality and cost effectiveness (up to 50% less bandwitdth).
http://www.businessinsider.com/c/4ae2080600000000004933c8
brian
Fri, 23 Oct 2009 15:46:13 -0400
http://www.businessinsider.com/c/4ae2080600000000004933c8
Urchin and Keyhole were far more important acquisitions than many of these.
http://www.businessinsider.com/c/4ae2078f0000000000cdc757
Peter Kasting
Fri, 23 Oct 2009 15:44:15 -0400
http://www.businessinsider.com/c/4ae2078f0000000000cdc757
As a Chromium team member I can say confidently that the Green Border guys have been an immense help, not just in developing the sandbox, but in tons of other areas in the codebase.
Various members of that team are now integral parts of our development, build, and release processes, and they're uniformly some of the highest-caliber engineers we have.
I grade that acquisition an A+.
http://www.businessinsider.com/c/4ae1f19e00000000008b3d0d
ted
Fri, 23 Oct 2009 14:10:37 -0400
http://www.businessinsider.com/c/4ae1f19e00000000008b3d0d
Google’s board of directors also considered a number of potential benefits of the merger, including those listed below:
• the benefits of acquiring versus building compression/decompression, or codec, technology expertise in order to drive next generation codec development and differentiation in quality;
• the ability to provide better quality and more efficient video codec to users, publishers and advertisers, that would encourage application adoption and video publishing and advertising on the internet;
***************
• the potential bandwidth costs savings assuming successful integration and implementation of the newest On2 codec; and
***************
• the benefits of not being dependent on codecs licensed from third parties.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6510371#rom91600_46
Would YOU sell for $.60 after reading this? Goog may save hundreds of millions in Bandwidth costs in the first year for YouTube alone. Buy ONT, there will be another bid after the NO vote on this merger.
http://www.businessinsider.com/c/4ae1e61b0000000000e48a25
Erik
Fri, 23 Oct 2009 13:21:27 -0400
http://www.businessinsider.com/c/4ae1e61b0000000000e48a25
The keyhole purchase was pretty important.
http://www.businessinsider.com/c/4ae1df710000000000e94e9b
Steve
Fri, 23 Oct 2009 12:53:04 -0400
http://www.businessinsider.com/c/4ae1df710000000000e94e9b
Let the market decide on the value of On2 stock. Had this been done, knowing that Google was a client, that On2 was now profitable and that Google has 20 new phones coming to market with On2 inside then the stock could very well be at $3-$5 or more by now. Instead On2 is capped at a maximum of .60 while Google has gone up over 18% since the deal was announced. Google No Evil policy is complete BS with nothing but empty words backing it up. Come on Google tell the 60 families that will lose millions that you and On2 management and the BOD are not evil to them!
Steve
http://www.businessinsider.com/c/4ae1bbfa0000000000f0d1a3
bruce
Fri, 23 Oct 2009 10:21:46 -0400
http://www.businessinsider.com/c/4ae1bbfa0000000000f0d1a3
This deal is an attempt to acguire technology. The technology of a small company with proprietary technology that is up to 50% more efficient than the patent pool and less costly. Goog has evaluated the products and likes them enough to buy the company instead of licensing the technology.
The purchase price offered relates to the lowered share price that has been attacked through naked short sales and failures to deliver for much of the past 2 years. The current share price is not representative of the value of the technology to the marketplace of users. If it were representative a behind doors deal would not have been necessary. The takeover interest should be announced and the market should trade the price up or down.
If naked shorting and failures to deliver are to determine the price of takeovers than SHARES HAVE NO MEANING AND THE AMERICA CAPITAL FORMATION SYSTEM of the stock exchange is compromised.
Nothing short of level playing field capital formation is at stake. Will GOOG/ON2 get away with driving a stake into the heart of the capital formation system through benefiting from illegal trading activity even if they had nothing to do with the activity.
No one should not reap rewards from criminal behavior and stolen goods get returned to rightful owners in the american system of law.
http://www.businessinsider.com/c/4ae1b3c50000000000c75c40
James
Fri, 23 Oct 2009 09:46:45 -0400
http://www.businessinsider.com/c/4ae1b3c50000000000c75c40
Thank you Jay for updating the ONT deal as pending. You should look further into this unseemly acquisition attempt and break it wide open.
http://www.businessinsider.com/c/4ae1aed100000000003024d0
Frank H
Fri, 23 Oct 2009 09:25:37 -0400
http://www.businessinsider.com/c/4ae1aed100000000003024d0
I'm also a longtime shareholder of On2. James is exactly RIGHT; This deal is FAR from over. It WILL be proven that Matt Frost and the board of directors were only out for their best interests. Google is the Pied Piper and On2 BOD are the rats following the illusion of a much brighter future. Google has NO IDEA how much this buyout has motivated hundreds/thousands of us to action, and WE WILL BE HEARD.
Google needs to raise their offer, otherwise this merger will be soundly voted down, Matt Frost and the whole board will be voted out and we will replace them with competent professionals who understand how to run a company. Make a note of this little company called On2, and check back in a year....................
http://www.businessinsider.com/c/4ae1a8e9000000000039f4bb
Steve D'Amico
Fri, 23 Oct 2009 09:00:24 -0400
http://www.businessinsider.com/c/4ae1a8e9000000000039f4bb
I am a current shareholder of ON2 Technologies and have been for the last six years. During that time this equity has been through a myriad of trials and tribulations that were caused primarily by a company that is growing and by poor decisions by the BOD and management. Through this I, and a large number of very loyal share holders, have stayed the course…..even through the firing of two CEOs since 2006. We believe in the technology and knew that one day we would be rewarded for our patience and continued support. We have received plaudits and contracts from large players such as SKYP, ADBE, JAVA, MOVE and most of the large internet providers in China. ON2’s VP6 codec has been ubiquitously installed with millions of applications. It has been praised as the “defacto standard” for internet usages. It is the primary enabling codec of ADBE’s Flash 8 and 9 platforms. The soaring gain of market share that ADBE realized during the last three years is directly attributable to the quality of their video offering.
During the past 18 months we purchased Hantro in Finland. The purchase price for this acquisition was $60,000,000. Hantro embeds technology into semiconductor chips for implementation for telecom and device markets. The future looked great for ON2 as royalties would certainly hit our bottom line. As such, we were excited to see profitability and a higher price per share on the immediate horizon.
That day turned into a nightmare when on August 5, 2009, one day prior to the second quarter results announcement, our management put out an announcement that they had sold (merged) us with Google for a paltry $0.60/share; which is further devalued by capping our price at a ceiling of $0.60 while allowing Google’s “then” share price to dictate the true value on the date that the merger happens. Due to this, and GOOG’s share price escalation, we have seen a current 12% reduction in the true value of the ON2 share price. The next day, Aug. 6, 2009, ON2 announced the breakeven quarterly results that we anticipated. It would have, in fact, been profitable had it not been for $420,000 of M/A expense that our management/BOD allocated for this injustice. A scant two months prior we were trading north of this $0.60/share bid. When it was rumored that ADBE was going to buy us, our shares rose to $3.99/share. To exacerbate this situation we learned that the management and BOD utilized reference pps periodic dates over the last 12 months to justify this as a ”premium price,” even though they were fully aware that ON2’s valuation had been severely depressed by extremely aggressive shorting and FTDs over the last two years. Coincidence?
Upon further investigation we learned that ON2 and Google had been in discussions (this fact was disavowed by our acting CEO in earlier conference calls) and had signed an agreement in November, 2008 that, among other things, forbid our management/BOD from seeking other bidders/higher offers to sell the company. Our CEO had stated during this time that we were not for sale and weren’t positioning our company to be sold.
In September 2008 ON2 announced the release of our latest codec, VP8. This codec has been touted as being best in class in pristine quality while offering reduced bandwidth costs of 40 to 50%. This is a “game changer” and will potentially save customers hundreds of millions of dollars in expenses in the exponentially growing video market. We wondered why we weren’t hearing and seeing PRs of customer implementations with this in our arsenal. We wondered why we were not seeing PRs of any sort that would increase share valuation. After the Google/ON2 announcement it became crystal clear that management worked to stifle the share price. This is further evidenced by the rush to announce the ON2/GOOG merger the day before announcing profitability. We learned from the most recent conference call, August 6, 2009, that there are multiple customers of VP8, yet there weren’t and still aren’t any PRs. This would have surely raised the value of ON2’s share price.
Google will save hundreds of millions of dollars by utilizing VP8 with their YouTube division. They will be able to write off $183 million in carry forward losses with this acquisition. This is a great thing for Google but a dismal ordeal for ON2’s share holders. ON2 has many patents and many that are pending. The Hantro side of ON2 offers the same. The IP alone should be worth this and a lot more. Therefore one has to ask why our BOD and management colluded to allow us to be plundered and pillaged for this price. The answer to that appears to be in the personal benefit and gain by many on our BOD and current management with the enticements that were pledged by Google to get this done. A preliminary proxy report noted such.
I and a group of shareholders representing over 50 million shares have pledged to vote this travesty down. I am hopeful that the inadequacies of this deal will cause it to fail. I am requesting your help to review the injustice, lack of effort to mitigate the 113 weeks of continual naked shorting, probable collusion, lack of fiduciary responsibility and the apparent self serving agenda that ON2’s BOD/management and Google’s bidders have caused to damage ON2’s share holders.
http://www.businessinsider.com/c/4ae1a2d40000000000706d35
James
Fri, 23 Oct 2009 08:34:28 -0400
http://www.businessinsider.com/c/4ae1a2d40000000000706d35
Woo Nillie,
the ON2 acquisition has not been consummated.
This is Google's first attempt at purchasing a publicly traded corporation.
The transaction is fraught with irregularities. The On2 Board of Directors and senior management are accepting a ridiculously low offer of $.60 per share when it's clear that On2 Technologies, with the help of it's game changing codec VP8, is about to see revenues increase explosively going forward.
VP8 is the gold standard in the world of video compression and decompression, a game-changing saver of internet bandwidth.
On2 shares are clearly worth a multiple of many times that amount.
The timing of the Google announcement is also highly suspect.
On2 had terrific 2nd Quarter 2009 results that were released one day after the Google deal was announced.
In fact, On2 actually made money this quarter if the costs of the Google transaction were deducted from its expenses.
On2 also traded at $0.65 several weeks ago BEFORE any word on Google’s interest and not showing a profit. Many feel the company is worth 10 times the offer by Google. In fact, On2 traded for as much as $3.99 in 2007 when there were rumors regarding Adobe's interest and this was long before the blockbuster VP8 product was developed.
On2 management has consistently stated over recent quarters that income was ramping up and expenses were falling into line. Indeed, 2nd quarter results confirmed that and there is every indication and belief that 3rd and 4th quarter results will be even better as income from recently signed license agreements in China and elsewhere kick in. This company's growth is set to skyrocket.
This buyout has motivated over 700 hundred small retail shareholders to form a shareholder group that has collected over 53,000,000 NO votes, opposing this buyout. You can view this count on our website at: www.vote4on2.com .
On2 is on the cusp of exponential growth in the most explosive sector of the video universe. Their VP8 product is the game changer in video transmission and is just now being introduced. On2’s codecs have recently become the de facto standard in China, the largest market on the planet. Additionally, On2 codecs are ubiquitous in Flash, Java and elsewhere. On2 has 10 US patents with 14 pending, Hantro has 8 patents with 12 pending - and On2 owns VP8, a superior technology to H.264. On2 codecs are also now showing up in mobile video on the web and smart phones—the real future of video. There is a lot more to this company that isn't immediately apparent.
The shareholders are fighting this buyout but feel we will be steamrolled by an Board that isn't looking out for their interests and Google's dominance and power in the marketplace.
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A 'Faction' At Bloomberg LP Wants To Acquire LinkedIn - Business Insider
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A 'Faction' At Bloomberg LP Wants To Acquire LinkedIn
Nicholas Carlson
Dec. 10, 2012,
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Late last night, the New York Times published a report saying that Michael Bloomberg would like to buy the Financial Times from Pearson.
In the report, the Times said that "factions" at Bloomberg LP hate the idea and "have argued that it would be smarter to buy a digital property, pointing to the Web site LinkedIn as an example."
That's a surprising piece of news.
LinkedIn's current market cap is almost $12 billion. Because it's a healthy and growing public company, it would likely cost Bloomberg much more than that to buy it.
It would be surprising if Bloomberg were able to afford to spend that much. Bloomberg is a private company and it does not disclose its financials, but we estimate its value is somewhere around $35 billion.
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Google's 15 Biggest Acquisitions And What Happened To Them - Business Insider
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Google's 15 Biggest Acquisitions And What Happened To Them
Matt Rosoff
Mar. 14, 2011, 12:31 PM
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APGoogle has a reputation as an innovative company, but in fact it owes a lot of its success to acquisitions.
Google basically bought AdSense, the paid search platform that made it a financial powerhouse, from Applied Semantics in 2003.
In addition, three of the four non-search businesses that Google has identified as its future -- YouTube, Android, and display advertising -- were acquired and run more or less independently today. The fourth -- enterprise apps -- was helped greatly by the acquisition of Postini.
There were also plenty of acquisitions that never paid off. Google is not as bad as Microsoft in this respect, but it does have a couple of embarrassing $100 million mistakes.
Join us as we count down Google's top 15 acquisitions by value and show what happened to them.
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Google's 15 Biggest Acquisitions And What Happened To Them
Google's 15 Biggest Acquisitions And What Happened To Them
Without acquisitions, Google would be nowhere.
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WhatsApp Messages Have Tripled Since Facebook Acquisition
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The number of messages sent via WhatsApp each day has tripled since Facebook bought it four years ago
Prachi Bhardwaj
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When Facebook acquired WhatsApp four years ago, the number of messages being sent via the messaging platform was about a third of what it is today. Judging by this chart from Statista, it isn't slowing down. As of May 2018, about 1.5 billion users are sending 65 billion messages via the WhatsApp mobile app and web client per day, up from one billion a couple of years after the company launched in 2009. That's tremendous growth for WhatsApp, and it makes Facebook look very smart for having spent $19 billion on it in 2014. Given Facebook's massive social network — more than double WhatsApp's 465 million monthly active users at the time, and a messaging app of its own — people weren't sure what an app like WhatsApp could bring to the table.WhatsApp still doesn't bring in ad dollars, but the acquisition did give Facebook the most popular messaging service in the world, meaning users are leaving one-product competitors like Snap and Skype and instead choosing one of the many services operated by Facebook.
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Google Employees Don't Know Why One Of Its Hottest Acquisitions Is Being Shut Down - Business Insider
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Google Employees Don't Know Why One Of Its Hottest Acquisitions Is Being Shut Down
Matt Lynley
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Picnik, an online photo editor Google acquired in March 2010, shuts down in two days — and some Google employees still can't figure out why.
Google CEO Larry Page making huge bets, like on Google+, where some of Picnik's staff was assigned after it was announced that Google would shutter Picnik in January this year.
When that was announced, the Picnik team had no idea why Google would do that, according to a source close to Google.
When Google decided to shut down Picnik, it was "profitable," according to one source close to Google.
That could mean it was making a profit of $1, or way more, but it still shows Google CEO Larry Page isn't screwing around.
Picnik had around 17 million monthly visitors, according to an interview on GeekWire with two former Picnik engineers that went to go start another company.
Justin Huff, a former Google employee, said Picnik was "doing great" in the interview.
But with Larry Page cleaning house and taking huge bets, it seems there's only room for the killer apps — and he's convinced Google+ is one of them.
We reached out to Google, but haven't heard back yet.
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Google Employees Don't Know Why One Of Its Hottest Acquisitions Is Being Shut Down
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Amazon Web Services Could Buy a Company Like Slack or Zoom: Analysts
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Amazon could buy a company like Slack or Zoom to replace its own unpopular chat app Chime and get in on the flood of coronavirus-related customers, analysts say
Ashley Stewart
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Amazon's videoconferencing and chat app, Chime, seems to be missing out on the surge of users flocking to Zoom and Slack amid the coronavirus crisis.The cloud wars aren't just about cloud infrastructure. One analyst believes that software helped Microsoft win a $10 billion Pentagon cloud contract over Amazon Web Services.Analysts said Amazon could turn to acquisitions to bolster its efforts in the collaboration space.Buying something "turnkey" like Zoom or Slack would help Amazon do that while it focuses on infrastructure, but smaller acquisitions are more likely.Click here to read more BI Prime stories.As the coronavirus crisis forces people to stay home, videoconferencing and chat apps like Zoom, Slack, and Microsoft Teams are seeing a surge of users.One company that appears to be missing out: Amazon.Amazon has its own online meeting, videoconferencing, and chat app called Chime. While Chime's market share is unclear, it certainly doesn't have as much name recognition as
Zoom
or
Slack
and doesn't seem to be used as often, at least anecdotally. That's why analysts said an acquisition could help bolster Amazon's effort in the collaboration space."I cannot recall attending a Chime meeting that wasn't related to or hosted by Amazon," Futurum Research analyst Daniel Newman said. "Wouldn't AWS be interested in something so turnkey as Zoom or Slack? Putting them together would be pretty powerful."Buying Zoom or Slack would help AWS stay focusedPart of the reason AWS has been so successful in the cloud market, Newman said, is that the company has focused on building out core cloud infrastructure instead of software."AWS dominates at the core," he said. Newman called it "the undisputed heavyweight" in cloud infrastructure but added that when it came to platforms and software, "other companies become more compelling."Microsoft, he said, dominates in software, such as the Microsoft 365 suite of business applications. While Amazon's cloud infrastructure is strong, the cloud wars aren't all about infrastructure.Jeb Su, an Atherton
Technology Research
analyst, believes that one reason Microsoft won the $10 billion Pentagon cloud-computing Joint Enterprise Defense Infrastructure contract was because of its strength in its office applications, in addition to its cloud. (Amazon is challenging the decision, alleging political intervention — and the Pentagon recently said it "wishes to reconsider" the decision in response to Amazon's lawsuit).The current moment is highlighting Microsoft's strengths here. At the end of March, the company said Teams had seen a "very significant spike," including a 775% surge in one area of Italy that had implemented a lockdown, though the surge has caused capacity issues for Microsoft's cloud.Amazon Web Services, meanwhile, has yet to respond to a request about Chime usage during the coronavirus crisis. "AWS over the years has flirted with the idea of going up the stack," Newman said. "They've built platforms, but when it comes to [software], they've been nondescript."Acquiring a company like Slack or Zoom would allow Amazon to immediately add millions of users while staying focused on what it does best: infrastructure.Smaller acquisitions are more likelyWhile Amazon Web Services is likely considering acquisitions in the collaboration space, and Zoom and Slack are the hottest tools right now, Su said he thinks AWS is unlikely to buy those companies outright."The Salesforces of the world, the ServiceNows, even companies like Zoom — these are not the companies we think AWS will be interested in," Su said. While his firm believes AWS is thinking about cloud applications, it's not in Amazon's "DNA" to make that kind of costly acquisition of an established company.AWS isn't typically as acquisitive as Microsoft or Google. Microsoft spent more than $9 billion during its last fiscal year on acquisitions and Google Cloud Platform is explicitly looking to acquisitions to catch up to AWS and Microsoft in the cloud space. Both have opened the purse strings for major purchases in the past few years: Google recently bought Looker for more than $2 billion, and Microsoft dropped $7.5 billion on GitHub in 2018. For comparison, Amazon's biggest cloud-related acquisition appears to be Annapurna Labs for $370 million in 2015.For Amazon, smaller companies are likely more attractive, and this is a particularly ripe time to buy, Su said. "The crisis opens a lot of opportunities because now it's getting cheaper," Su said. "That's where we can see them enter the cloud-apps market."Newman, the Futurum Research analyst, said if AWS "decides to get on the M&A bandwagon," it could adopt the same approach as Apple, Microsoft, or Cisco, which is to make "a flurry or really interesting small acquisitions."Are you an Amazon Web Services employee? Contact Ashley Stewart via email at astewart@businessinsider.com, message her on Twitter @ashannstew, or send her a secure message through Signal at 425-344-8242. Contact Rosalie Chan via email at rmchan@businessinsider.com, Signal at 646.376.6106, Telegram at @rosaliechan, or Twitter DM at @rosaliechan17. (PR pitches by email only, please.) Other types of secure messaging available upon request.
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Facebook Employees WhatsApp Acquisition
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Here's How Facebook Employees *Really* Feel About The WhatsApp Acquisition
Jillian D'Onfro
Feb. 24, 2014,
5:34 PM
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Facebook and Google are destined to become Apple and Microsoft
Google has caught up to Facebook in a key area
When Facebook bought messaging app WhatsApp for $19 billion, our jaws may have dropped at the massive price, but the deal seemed to make sense.
How did it look to insiders, though? A recent Quora post asked Facebook employees how they felt about the big news.
Several confessed that they had a moment of envy when they thought about the enormous payout WhatsApp employees would get. Others said it made them reconsider their jobs.
Here are the best answers:
One Facebook employee needed to vent about it with her colleagues:
"I had a holy-shit moment when I heard about the deal and thought how rich I would have been if I had worked at WhatsApp instead. Vented steam with some colleagues. Trolled the web for my fill of articles on WhatsApp and on the deal. Towards the evening realized that Facebook compensates me very generously and I am happy with my work. Almost everyone whom I talk to at Facebook feels that the deal is a long term win. I am over it and back full tilt into my work."
Another said that it made him reconsider how much his work mattered at FB:
"I work at FB. Everyone I have spoken to is excited to have them on board. But I have noticed some employees take a check-in into their own career and impact and had a bit of a light switch go off that maybe a smaller startup may be a better place for them than FB in terms of impact they could be making. I would be lying if I said I didn't feel the same way."
REUTERS/Romeo Ranoco A money changer inspects U.S. dollar bills at a currency exchange in Manila January 15, 2014.Ultimately though, employees know that they've got it pretty good:
"Hey, by joining Facebook, I took the safe route with guaranteed good money and no possibility of a multi-million dollar payout. I could have instead joined a startup and earned much less money with at least a possibility of hitting it big if the startup was eventually acquired for a huge sum of money, but I didn't want to take that chance. Now I'm pissed off (in an amused sort of way) because I have to work with people who did take that chance and look at how it worked out for them. Do you feel sorry for me? I thought not."
The most popular response on the Quora thread is by an anonymous user who doesn't work at Facebook now, but was around for the Instagram acquisition.
He uses a metaphor that compares Facebook and WhatsApp to two hard-working tribes. One day the chief of the larger tribe, which has 6,000 members, announces that it is inviting the smaller tribe, which has only 50 members, to join it–taking 10% of the larger tribe's resources in return for its permanent alliance. The dwellings that the new tribe members can afford after the deal are much nicer than anyone from the larger tribe (except a few leaders) will ever be able build even after a lifetime of work. He says that the members of the large tribe go through four phases of feeling.
In Phase One they suddenly, starkly see their place in the power structure of the "tribe" (okay, company) more clearly and there is an emotional response. This gets personal and depends on each person's emotional relationship to the company and how much power they think they have or want to have. Engineers can see how loose the connection is between technical accomplishment and business value (they probably couldn't have built the tech, but could they have built the brand?).
In Phase Two, people accept their powerlessness and see that it was just a big business deal done for justifiable business reasons, and that almost nothing will change on a day-to-day basis. The author writes:
"Provided the stock doesn't tank (which it didn't), this seems like an affirming indication that the tribe is strong. That's something to generally feel good about. The new team members, usually, are in fact really good. Better to be cooperating than competing. And the theory sort of makes sense, that if this new thing keeps getting more valuable, we all stand to gain. A rising tide lifts all ships."
In Phase Three, people may realize that they are already part of one of the most desirable tribes on the planet. They might already be making an absurd amount of money. They realize that they are probably pretty lucky to be in such a great tribe! Cue #firstworldproblems.
The fourth and final phase is ironic:
"If you're self-aware enough, you may also experience first-world meta-problems, wherein you start feeling bad about yourself for feeling bad in the first place. From there, the important questions are ones for which you can't find answers on a website."
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|
M&A
| 1
|
[
{
"label": "M&A",
"score": 0.9999998807907104
}
] |
Zillow And Trulia Shares Go Bonkers On Report Of A Possible Deal
http://www.businessinsider.com/zillow-reportedly-trying-to-acquire-trulia-2014-7/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Fri, 06 May 2016 16:45:23 -0400
Sam Ro
http://www.businessinsider.com/c/53d17f6cecad04037594df51
WHERE IS ANTI-TRUST LAW NOW?
Thu, 24 Jul 2014 17:49:32 -0400
http://www.businessinsider.com/c/53d17f6cecad04037594df51
DONT THESE 2 COMPANIES COMPETE?
CAN PEPSI BUY COKE?
HOW CAN TRULIA AND ZILLOW MERGE ???????????????
http://www.businessinsider.com/c/53d159c369bedde0025d7582
Mikent
Thu, 24 Jul 2014 15:08:51 -0400
http://www.businessinsider.com/c/53d159c369bedde0025d7582
The two companies' combined market cap rose by $1.5 billion today. Not bad for two companies whose combined profit is..... 0 !
http://www.businessinsider.com/c/53d14fcaecad04b32c94df58
Meanwhile
Thu, 24 Jul 2014 14:26:18 -0400
http://www.businessinsider.com/c/53d14fcaecad04b32c94df58
In other news, Lyft is merging with Uber and AirBnB.
With just one app, you'll be able to share a ride to your shared sofa.
http://www.businessinsider.com/c/53d14ced6bb3f7b4625d7582
JJJJ
Thu, 24 Jul 2014 14:14:05 -0400
http://www.businessinsider.com/c/53d14ced6bb3f7b4625d7582
Markets tend towards consolidation.
|
M&A
| 1
|
[
{
"label": "M&A",
"score": 1
}
] |
Twitter Fights Against Elon Musk With 'Poison Pill' Defense
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It's official — Twitter is fighting back against Elon Musk's buyout offer with a 'poison pill' defense
Ben Gilbert and
Gabrielle Bienasz
2022-04-15T16:38:07Z
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Billionaire Tesla CEO Elon Musk at the Tesla Grünheide site in May 2021.
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Elon Musk offered to buy Twitter outright for $54.20 per share this week.
Twitter's board met on Thursday to discuss Musk's $43 billion takeover proposal.
Twitter chose a "poison pill" defense, which will make Musk's acquisition attempt more difficult.
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Twitter isn't ready to accept billionaire Elon Musk's offer to buy the social media company and take it private.Instead, it's fighting against the takeover bid by adopting something called a "poison pill" defense, a Friday announcement from the company revealed.The poison pill tactic, also known as a shareholder rights plan, is used to avoid hostile takeovers by essentially diluting an acquirer's stake via creating more shares in the market — or allowing other current shareholders to buy more shares at a discount, creating a "pill" that makes a hostile takeover more financially painful to achieve.In short, Elon Musk will now have to increase his $43 billion offer if he wants to buy Twitter.
Musk is believed to be the richest person on Earth, with an estimated net worth of $259 billion, much of which is wrapped up in stocks and other non-liquid assets. It's unclear how much available capital he has, but Musk said in an interview on Thursday that he could "technically afford" to buy Twitter outright for the amount he proposed.In its announcement, Twitter's board said this course of action "is intended to enable all shareholders to realize the full value of their investment," and it will "reduce the likelihood that any entity, person or group gains control of Twitter." The plan is set to expire one year from now, on April 14, 2023.In addition to Musk's offer, private equity firm Thoma Bravo is said to be considering an offer, according to anonymous sources speaking to Reuters. The firm is said to have been in contact with Twitter's board about a potential offer.
Last week, a regulatory filing revealed that Musk made a $43 billion offer to buy the company outright. Twitter's board held a meeting on Thursday morning to discuss the $54.20-per-share offer, CNBC reported.Musk said it was his "best and final" offer in a message to Twitter's board chair, and that he isn't "playing the back-and-forth game." Moreover, he said he would "reconsider" ownership of the nearly 10% stake he already has in Twitter if the deal didn't go through."This is not a threat," Musk said, "it's simply not a good investment without the changes that need to be made."But during a Q&A session at TED 2022 on Thursday, Musk also said he "has a Plan B" if his offer isn't accepted — though he declined to go into further detail.
Got a tip? Contact Insider senior correspondent Ben Gilbert via email (bgilbert@insider.com), or Twitter DM (@realbengilbert). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.
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|
M&A
| 0.996528
|
[
{
"label": "M&A",
"score": 0.9965279698371887
}
] |
OMGPOP Hits 3 Million Users Amid Acquisition Offers
http://www.businessinsider.com/omgpop-hits-3-million-users-amid-acquisition-offers-2010-7/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Sat, 25 Jun 2016 17:34:51 -0400
Nicholas Carlson
http://www.businessinsider.com/c/4c4700187f8b9a892a8c0000
yellow submarine
Wed, 21 Jul 2010 10:11:36 -0400
http://www.businessinsider.com/c/4c4700187f8b9a892a8c0000
you beat me to it
http://www.businessinsider.com/c/4c45f09a7f8b9abe217c0100
Dan Porter
Tue, 20 Jul 2010 14:53:14 -0400
http://www.businessinsider.com/c/4c45f09a7f8b9abe217c0100
Totally. I can't believe you saw through my plan. Argh. Will you be a beta tester for my next release?
http://www.businessinsider.com/c/4c45e9327f8b9a8307ea0300
Anon
Tue, 20 Jul 2010 14:21:38 -0400
http://www.businessinsider.com/c/4c45e9327f8b9a8307ea0300
This article should actually be entitled "Help Dan Porter sell OMGPop"
|
M&A
| 0.999996
|
[
{
"label": "M&A",
"score": 0.9999957084655762
}
] |
Microsoft Continuing Talks to Acquire TikTok's US Operations
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Microsoft to continue talks to acquire TikTok's US operations after Trump threatened to ban the app in the US
Lauren Frias
2020-08-02T23:48:04Z
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Microsoft announced in a statement Sunday that it would continue discussions to acquire US operations of the popular video app TikTok.Earlier, President Donald Trump told reporters that his administration was looking into banning the Chinese-owned app because of security concerns, sparking panic among creators on the social-media platform.Microsoft said in the statement that it was planning to complete talks with TikTok's parent company, ByteDance, by September 15.Visit Business Insider's homepage for more stories.
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Microsoft on Sunday announced it was still participating in talks to acquire US operations of the video app TikTok.The company said in the statement that it planned to complete these "discussions" with the app's parent company, ByteDance, by September 15.The announcement came after President Donald Trump told reporters aboard Air Force One that his administration would ban the Chinese-owned app because of security concerns, sparking panic among creators on the popular social-media platform.According to a Friday pool report, Trump said he had the authority to ban TikTok "with an executive order or that" — apparently referring to emergency economic powers. It's unclear how exactly he might try to ban the app.
Microsoft's statement said that its CEO, Satya Nadella, spoke with Trump and that the company would continue its pursuit of TikTok."Microsoft fully appreciates the importance of addressing the president's concerns," the statement said. "It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury."TikTok is owned by ByteDance, an internet technology company headquartered in Beijing."The discussions with ByteDance will build upon a notification made by Microsoft and ByteDance to the Committee on Foreign Investment in the United States (CFIUS)," Microsoft said in the statement.
"The two companies have provided notice of their intent to explore a preliminary proposal that would involve a purchase of the TikTok service in the United States, Canada, Australia, and New Zealand and would result in Microsoft owning and operating TikTok in these markets," the company continued, adding that it might invite other American investors "on a minority basis."With the app's growing prominence, US officials became concerned that the Chinese government might be able to access user data and influence content moderation.Microsoft said that if it were to acquire TikTok in the US, it would "ensure that all private data of TikTok's American users is transferred to and remains in the United States.""To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred," the company said in a statement.
The company went on to say discussions were "preliminary" and "there can be no assurance that a transaction which involves Microsoft will proceed."
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BuzzFeed Acquires Kingfish Labs - Business Insider
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BuzzFeed has acquired Kingfish Labs, a Facebook-data company, Business Insider has learned.
Kingfish was founded by two former Huffington Post employees, Rob Fishman and Jeff Revesz.
BuzzFeed CEO Jonah Peretti was a cofounder of the Huffington Post.
Revesz will become a senior developer at BuzzFeed and the other two developers, Adrian Fraiha and Andrew Kelleher, will join BuzzFeed's engineering team.
Fishman won't be joining BuzzFeed. Instead, the former Huffington Post social-media editor will take some time to figure out what's next.
Kingfish Labs launched a product, Yoke, that used Facebook data to recommend potential romantic matches for people based on the information in their profiles. Unfortunately, the service never really took off.
"We had less expertise around online dating than maybe we should have," Fishman tells Business Insider. "We were looking at it through more of a Facebook lens than a dating lens. Someone will crack that Facebook dating nut; unfortunately it wasn't us."
Given the Huffington Post roots of both companies, Fishman says Kingfish Labs and BuzzFeed have been talking since Day 1. Peretti and Revesz worked closely while at The Huffington Post, and Kingfish Labs was incubated out of Lerer Ventures, an investment vehicle Peretti advises.
Besides hiring most of its talent, BuzzFeed has plans for the technology Kingfish Labs developed. It wants to use Kingfish Labs to jump on a big revenue opportunity: making Facebook Sponsored Stories—the hybrid mix of advertisements and content that Facebook advertisers pay to display in users' News Feeds—go viral.
BuzzFeed has proven it knows how to spread content. It's looking to expand that knowledge beyond its platform to Facebook and Twitter by helping advertisers create effective, viral sponsored stories.
"Kingfish developed unique techniques for understanding social data which is very relevant to BuzzFeed's business as a social publisher," Peretti told Business Insider.
"We are working on some big new projects with Facebook. In particular, we've had great success extending BuzzFeed social advertising campaigns into Facebook Sponsored Stories. Kingfish technology will greatly expand our targeting and optimization in this area. Kingfish will enable us to power the leading Sponsored Story buying solution and holds potential for Twitter buying as well."
Neither BuzzFeed nor Kingfish Labs would discuss the acquisition terms, but both said the merger was a win for investors. Kingfish Labs raised $500,000 and it shared many of BuzzFeed's investors.
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Google acquires PittPatt facial recognition technology company - Business Insider
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Last week we reported that social groups startup Fridge had been acquired by Google+.
Now the company has gobbled up another startup that could align nicely with its new social network.PittPatt was just acquired by Google. The company began as a Carnegie Mellon University project, and it can spot people in photos and videos with facial recognition and tracking technology.
With a strict privacy policy in place, Google could use PittPatt's technology to enhance YouTube, Google+, Images, and even mobile experiences.
"The Pittsburgh Pattern Recognition team has developed innovative technology in the area of pattern recognition and computer vision," says Google. "We think their research and technology can benefit our users in many ways, and we look forward to working with them.”
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VMware Partners See Opportunity to Win Customers Via Broadcom Deal
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Some VMware partners say they're optimistic about the $61 billion Broadcom buyout and see it as an opportunity to cozy up to customers who fear they'll get lost in the deal's fallout
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Many VMware employees and customers are worried about the looming $61 billion Broadcom acquisition.
But some partners say they're optimistic and see an opportunity to cozy up to VMware customers.
Broadcom has said it intends to handle its wider customer base through partners.
Smaller VMware customers may be nervous about what Broadcom's looming $61 billion acquisition means for their future with the firm, but some partners are optimistic about the deal. In fact, several VMware partners view the seismic buyout as an opportunity and hope to use it to their advantage.At VMware's annual conference this week in San Francisco, Insider spoke with several partners who made clear they weren't too worried about the pending takeover, with some adding that they hoped to use it to cozy up with VMware customers. Even those who weren't as optimistic about Broadcom's takeover told Insider the 24-year-old company was in need of a shake-up. But opinions were split on whether Broadcom would bring positive change to the company or stall innovation. Some partners and customers who Insider spoke with asked to remain anonymous because they were not authorized to speak with the press, but their identities are known to Insider.Why VMware partners are optimistic Before the acquisition announcement, Broadcom told investors the firm was "totally focused on the priorities" of 600 top strategic accounts. The semiconductor giant has earned a reputation for buying up companies and then aggressively cutting costs and hiking prices to boost profits. These are some of the factors that have smaller firms worried the acquisition of VMware, once known for going above and beyond for its customers, will push them out.But this is where the opportunity for partners comes in. Providing further context on the strategy to focus on 600 top accounts, Broadcom CEO Hock Tan recently said on an investor call that the company would make sure its wider customer base of about 300,000 clients were well supported but that "we will go through it and we will handle these guys through partners." So while VMware customers have praised the company for the level of support it provides to customers, partner companies may be tasked with stepping in to provide added support for a huge portion of VMware's user base. "I see good parts in it," said Joel Stocker, a director of product marketing at ControlUp, a VMware implementation partner. "Obviously, Broadcom has had some acquisitions before, and it's natural people say, 'Well, see what happened then.' But we're hopeful that there is a place for Horizon in VMware and in the broader market." He added that he hadn't heard from any customers that want to switch to an alternative, like Microsoft — a good sign that customers aren't spooked enough to want to jump ship. Stanimir Markov, the CEO and cofounder of Runecast, a technology implementation partner for VMware and vendors like Amazon Web Services and Microsoft, is another partner who told Insider he saw this as a good opportunity for his company to build relationships with customers. "We can be the third party that helps give them assurance that their VMware environment will run securely," he said.Some in the VMware ecosystem are nervous about the firm's futureWhile there is some optimism among partners, many at the conference expressed nervousness about VMware's future, and people are split on whether they think Broadcom will bring the positive change VMware is seeking. VMware is known for being a "Switzerland" in the tech industry and integrating with vendors like Microsoft, AWS, Google Cloud, and IBM, a salesperson at VMware told Insider. But the Futurum Research analyst Steven Dickens said VMware was quickly being eclipsed by those same companies it integrates with. "VMware is in the fastest-growing part of the market and growing only 9%," he said, pointing to the company's annual revenue growth at the end of its last fiscal year, in January.Raghuram oversaw most of VMware's transition away from Dell, betting big on public multicloud strategies and open-source products like Tanzu. Dickens believes that Broadcom will help VMware grow faster, he said — especially as VMware announces a new host of products at its cloud conference. But his opinion may be unpopular, as Insider has reported. Customers previously told Insider that Broadcom was a "retirement home." And many VMware employees fear the Broadcom acquisition will ruin what made the company special: its transparent communication from leadership, flexible work policies, and huge investment on open source. "Broadcom is where good software goes to die," an employee from a VMware partner told Insider.VMware helps companies "lift and shift" their services to the cloud, but at some point, these companies will want to be cloud-native and then won't need VMware's services anymore, he said. He's doubtful Broadcom will be the one to help VMware through this period. Broadcom and VMware didn't respond to a request for comment.Do you work at VMware or Broadcom and have insight to share? Contact the reporter Paayal Zaveri at pzaveri@insider.com or Signal at 925-364-4258. Contact the reporter Jessica Xing via Signal or Telegram at +1 (551)-280-9140, via encrypted email (jessica.xing@protonmail.com), or at jxing@insider.com. Contact the reporter Jacob E. Robbins via Signal or Telegram at +1 (413)-717-0171, encrypted email (jacoberobbins@proton.me), or Twitter DMs (@JacobERobbins).
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VERIZON WILL ACQUIRE YAHOO FOR $4.8 BILLION
Lara O'Reilly
2016-07-25T11:01:52Z
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Yahoo CEO Marissa Mayer.
AP Photo/Lionel Cironneau, File
Verizon will acquire Yahoo's core internet business for about $4.83 billion in cash, the telecommunications company announced on Monday.Yahoo will be merged with Verizon's AOL unit under Marni Walden, the executive vice president and president of product innovation and new businesses.
The deal will see Verizon scoop up Yahoo's search, mail, content, and ad-tech businesses.It will double Verizon's digital advertising business, which is now poised to reach an estimated 4.5% share of the US internet advertising market, according to eMarketer. It will place Verizon in a distant third place, in terms of US digital ad market share, to Facebook (17%) and Google (36%).Yahoo says it has a global audience of more than 1 billion monthly active users, including 600 million monthly active mobile users. Yahoo.com's content verticals — including news, finance, and sports — will join the likes of The Huffington Post, TechCrunch, and AOL.com.Part of Yahoo will remain after the deal: Yahoo is keeping its stakes in the Chinese internet giant Alibaba and in Yahoo Japan, which have a combined value of $40 billion. Yahoo had initially attempted to spin off its Alibaba stake, but the move was abandoned over fears that the company would incur a hefty tax bill. Yahoo will also retain its cash, noncore patents (called the Excalibur portfolio), convertible notes, and other minority investments.
When the deal closes, that part of Yahoo will change its name and become a publicly traded investment company. The company says it intends to return "substantially all" of its net cash to shareholders.The acquisition marks the final chapter in a roller-coaster story for Yahoo, which was founded in 1994 as one of the first web directory and which became one of the leading internet media businesses.Yahoo Market Capitalization Over Time | FindTheCompanyYahoo's star began to fade over the past decade, however, as it failed to keep up with rivals like Google and Facebook in the bid for consumer attention and advertiser spend.Marissa Mayer was hired from Google as Yahoo's CEO in 2012 to turn around the business. But she failed to stem the company's revenue and profit declines, and a group of investors led by the activist firm Starboard pressured management to sell up.
Two years ago, AOL CEO Tim Armstrong had proposed a merger with Yahoo that Mayer rejected. Now Armstrong, who sold AOL to Verizon for $4.4 billion last year, has gotten his wish.A Yahoo SEC filing shows that Mayer is set to receive a $54.9 million severance package when she leaves the company. In a letter to Yahoo employees released Monday, however, Mayer said she was "planning to stay" at Yahoo/AOL.Verizon reports its second-quarter earnings on Tuesday. Last week, Yahoo reported a 5% rise in revenue year-on-year to $1.31 billion in its second quarter, versus the $1.08 billion expected by analysts. The company's losses widened to $440 million in the period.Lowell McAdam, Verizon's chairman and CEO, said: "Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers. The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising."
Here is the full official statement from Verizon:Verizon to acquire Yahoo’s operating business Transaction will create a new rival in mobile media technology reaching over 1B users* with a roster of the world’s most beloved brands BASKING RIDGE, NJ, and SUNNYVALE, Calif. – July 25, 2016 – Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) today announce they have entered into a definitive agreement under which Verizon will acquire Yahoo’s operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also connects advertisers with target audiences through a streamlined advertising technology stack that combines the power of their data, content and technology. Lowell McAdam, Verizon Chairman and CEO, said: “Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers. The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.” Yahoo will be integrated with AOL under Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon. Marissa Mayer, CEO of Yahoo, said: “Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL. The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo. This transaction also sets up a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising and social.”
Mayer added, “Yahoo and AOL popularized the Internet, email, search and real-time media. It’s poetic to be joining forces with AOL and Verizon as we enter our next chapter focused on achieving scale on mobile. We have a terrific, loyal, experienced and quality team, and I couldn’t be prouder of our achievements to date, including building our new lines of business to $1.6 billion in GAAP revenue in 2015. I’m excited to extend our momentum through this transaction.” Tim Armstrong, CEO of AOL, said: “Our mission at AOL is to build brands people love, and we will continue to invest in and grow them. Yahoo has been a long-time investor in premium content and created some of the most beloved consumer brands in key categories like sports, news and finance.” Under Armstrong, AOL has invested in and grown global premium brands, including The Huffington Post, TechCrunch, Engadget, MAKERS and AOL.com, and market-leading programmatic platforms -- including ONE by AOL for both advertisers and publishers. Armstrong added, “We have enormous respect for what Yahoo has accomplished: this transaction is about unleashing Yahoo’s full potential, building upon our collective synergies, and strengthening and accelerating that growth. Combining Verizon, AOL and Yahoo will create a new powerful competitive rival in mobile media, and an open, scaled alternative offering for advertisers and publishers.” The addition of Yahoo to Verizon and AOL will create one of the largest portfolios of owned and partnered global brands with extensive distribution capabilities. Combined, AOL and Yahoo will have more than 25 brands in its portfolio for continued investment and growth. Yahoo’s key assets include market-leading premium content brands in major categories including finance, news and sports, as well as one of the most popular email services globally with approximately 225 million monthly active users****. Additional technology assets in the advertising space include Brightroll, a programmatic demand-side platform; Flurry, an independent mobile apps analytics service; and Gemini, a native and search advertising solution. The deal is subject to customary closing conditions, approval by Yahoo’s shareholders, and regulatory approvals, and is expected to close in Q1 of 2017. Until the closing, Yahoo will continue to operate independently, offering and improving its own products and services for users, advertisers, developers and partners. Verizon will generally issue cash-settled Verizon RSUs for Yahoo RSUs that are outstanding at the close. The sale does not include Yahoo’s cash, its shares in Alibaba Group Holdings, its shares in Yahoo Japan, Yahoo’s convertible notes, certain minority investments, and Yahoo’s non-core patents (called the Excalibur portfolio). These assets will continue to be held by Yahoo, which will change its name at closing and become a registered, publicly traded investment company. Yahoo will provide additional information about the investment company at a future date. Yahoo intends to return substantially all of its net cash to shareholders and will determine and communicate a specific capital return strategy at an appropriate time. LionTree Advisors, LLC, Allen & Company LLC, Bank of America Merrill Lynch and Guggenheim Securities, LLC are acting as financial advisors to Verizon. Wachtell, Lipton, Rosen & Katz, Gibson, Dunn & Crutcher LLP, Covington & Burling LLP and Winston & Strawn LLP are acting as legal advisors to Verizon. Goldman, Sachs & Co., J.P. Morgan Securities LLC and PJT Partners are acting as financial advisors to the Yahoo Board and its Strategic Review Committee. Skadden, Arps, Slate, Meagher & Flom LLP, Wilson Sonsini Goodrich & Rosati and Weil Gotshal & Manges LLP are acting as legal advisors to Yahoo. Cravath, Swaine & Moore LLP is independent legal advisor to Yahoo’s Strategic Review Committee. Yahoo will hold an investor call at 5:30 a.m. Pacific/8:30 a.m. Eastern today. Investors can dial in at (866) 593-9949 and investors outside the U.S. can dial in at (973) 935-8154, using the conference ID 55971720. The call will be hosted by Yahoo CEO Marissa Mayer and Yahoo CFO Ken Goldman. Yahoo will also make the Chair of the Strategic Review Committee, Tom McInerney, and Yahoo Chairman of the Board Maynard Webb available for questions. Verizon will announce second-quarter 2016 results tomorrow, July 26. To provide further context for investors about this transaction and other strategic initiatives, McAdam will participate in Verizon’s earnings webcast beginning 8:30 a.m. Eastern tomorrow. Access instructions and presentation materials, including Verizon’s earnings release, will be available at 7 a.m. on Verizon’s Investor Relations website, www.verizon.com/about/investors/. *Based on Yahoo internal metrics, Jan. 2016 and AOL Internal, June 2016**Yahoo internal user metrics, Jan. 2016***Yahoo internal user metrics, Jan 2016****Yahoo internal user metrics, Jan. 2016. Mail monthly active users includes 58M IMAP/POP only users – ie. Yahoo monthly users that access their mail using other companies mail application About VerizonVerizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York City, generated nearly $132 billion in 2015 revenues. Verizon operates America’s most reliable wireless network, with 112.6 million retail connections nationwide. The company also provides communications and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers worldwide. About AOLAOL is a media technology company with a mission to connect consumers and creators through open marketplaces. AOL uses data to disrupt content production, distribution and monetization. The company connects publishers with advertisers across its global, programmatic platforms, tapping into Microsoft inventory and original content brands like TechCrunch, The Huffington Post and MAKERS, which reach over 500 million monthly global consumers. Within its mobile advertising network alone, AOL has a reach of roughly 600 million users. A subsidiary of Verizon, AOL is shaping the digital future. About YahooYahoo is a guide to digital information discovery, focused on informing, connecting, and entertaining users through its search, communications, and digital content products. By creating highly personalized experiences, Yahoo helps users discover the information that matters most to them around the world -- on mobile or desktop. Yahoo connects advertisers with target audiences through a streamlined advertising technology stack that combines the power of Yahoo's data, content, and technology. Yahoo is headquartered in Sunnyvale, California, and has offices located throughout the Americas, Asia Pacific (APAC) and the Europe, Middle East and Africa (EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net) or the Company's blog (yahoo.tumblr.com).
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NBC Acquires English Premier League Rights for $250 Million Over Three Years, Will Air All EPL Games Starting Next a...
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AOL Buys Tim Armstrong's Local News Startup Patch, Events Startup Going
http://www.businessinsider.com/aol-will-acquire-tim-armstrongs-local-news-startup-patch-2009-6/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Mon, 30 May 2016 09:02:22 -0400
Nicholas Carlson
http://www.businessinsider.com/c/4c6b69ef7f8b9a8f2a330400
Tony
Wed, 18 Aug 2010 01:04:47 -0400
http://www.businessinsider.com/c/4c6b69ef7f8b9a8f2a330400
He trashed AOL employees in public, calling their work below par. I'm not sure about this guy.
<a href=http://www.ble.state.mn.us/examsoft.html>Examsoft</a>
http://www.businessinsider.com/c/4c3b27d17f8b9a6322350100
location automobile
Mon, 12 Jul 2010 10:33:53 -0400
http://www.businessinsider.com/c/4c3b27d17f8b9a6322350100
Great minimalist designs. I'm a firm believer in the k.i.s.s. design method. After all, most of the biggest sites on the web use minimalistic designs, like Google, eBay, Amazon, etc. As long as it's a good user interface, minimalist design is a great choice.
<a href="http://locationautomobile.org">location automobile</a>
http://www.businessinsider.com/c/4ac880b0d9e2a36e372228f4
Heanl
Sun, 04 Oct 2009 07:02:08 -0400
http://www.businessinsider.com/c/4ac880b0d9e2a36e372228f4
AOL, first out of the gate, last across the line. Despite the change to a mainly advertising sales unit and promotional tool for T/W, this dead horse has been flogged many too many times. Where is the business equivalent of PETA to step in and stop this corporate animal cruelty? At least they smartened up enough to structure their purchase deal of patch to be (ultimately) dependant on overall company performance. I suppose being led to the glue factory by the stock market goons once already taught them at least one lesson about spending beyond their means.
Henal
<a href="http://www.cityslick.net/">Cityslick Local Advertising</A>
http://www.businessinsider.com/c/2fb9b914536a4b4a59dd1b00
point local
Wed, 01 Jul 2009 09:53:22 -0400
http://www.businessinsider.com/c/2fb9b914536a4b4a59dd1b00
Great post. Well these are top level domains and have already developed a positive reputation in their respective marketplace. It would be nice to build out a site, and then have Google or another large outfit offer big $$.
http://www.businessinsider.com/c/afb9b914f057324a51a94300
Rocker
Fri, 12 Jun 2009 09:28:15 -0400
http://www.businessinsider.com/c/afb9b914f057324a51a94300
@Same-as-it-ever-was -
"have to believe there are dozens of other companies focused on local"...
You are correct, are and have been over the last decade.
None getting anywhere, nor was Patch going to with that hyperlocal approach.
I do believe this was a smart move for Mr. Armstrong...
he never would have seen that investment back any other way.
But it's not going to help AOL, IMHO.
http://www.businessinsider.com/c/4637544b4355324a28538c00
Elliot Spitzer
Fri, 12 Jun 2009 09:16:51 -0400
http://www.businessinsider.com/c/4637544b4355324a28538c00
WTF!!!!
Well, guess what? The new AOL management is the old AOL management.
Notice that no mention of price or number of shares to be awarded etc. is mentioned.
This is self-dealing at its best.
Sanctimonious assholes!
http://www.businessinsider.com/c/cd7a6c799853324aa2621100
Unbelievable
Fri, 12 Jun 2009 09:09:43 -0400
http://www.businessinsider.com/c/cd7a6c799853324aa2621100
TimArmstorng "Conflcit"
"Bull shit"
"dum"
"Acutally"
omg, I hope you don't work at AOL!
Tim has absolutely been consistent in everything he has done so far. He initially seeded capital into this business because he believed in the concept. Now AOL has acquired it, and he more fully implement it into a larger strategy, and he is not making any personal profit from that capital. If it works out, he and shareholders will all profit from the success of the acquisition and local-content strategy.
http://www.businessinsider.com/c/057a6c79b3c7314a23b5f200
aol-man
Thu, 11 Jun 2009 23:12:51 -0400
http://www.businessinsider.com/c/057a6c79b3c7314a23b5f200
Put Julio Hernandez Miyares (Media Blow Hard) in charge.
He knows how to run things into the ground.
He's got 10+ years of experience at AOL doing just that.
http://www.businessinsider.com/c/4637544b28c6314a0b348c00
palmer
Thu, 11 Jun 2009 23:06:15 -0400
http://www.businessinsider.com/c/4637544b28c6314a0b348c00
@indeed:
I believe the unique count is from Quantcast.
http://www.businessinsider.com/c/057a6c7911c3314a23b2f200
TimArmstorng Conflcit
Thu, 11 Jun 2009 22:53:05 -0400
http://www.businessinsider.com/c/057a6c7911c3314a23b2f200
Tim initially started like roaring lion, but he ended up being same old cunning fox.
He created local as one strategy knowing that he is going to acquire his own company. Bull shit, he know AOL employees are dum. He forego profit meaning he got his capital back that he invested in this waste pitch.com (Acutally if u look at the site, should change the "p" to "b"). If not he would have lost his capital too. ! What a Drama.
Nice work Tim in cheating !
http://www.businessinsider.com/c/afb9b91457b6314ae8934300
nice
Thu, 11 Jun 2009 21:58:47 -0400
http://www.businessinsider.com/c/afb9b91457b6314ae8934300
I can see both Patch.com and Going.com being tied into When.com.
Mapquest will also have features from Patch, Going, and When.
Looks good to me, makes sense.
http://www.businessinsider.com/c/057a6c79128c314a3da9f200
rondy
Thu, 11 Jun 2009 18:58:26 -0400
http://www.businessinsider.com/c/057a6c79128c314a3da9f200
From what I have seen Tim has a very clear vision *and* strategy for AOL and he is wasting no time implementing it.
http://www.businessinsider.com/c/afb9b9144274314a496a4200
cheers
Thu, 11 Jun 2009 17:16:50 -0400
http://www.businessinsider.com/c/afb9b9144274314a496a4200
AOL LOCAL+PATCH+GOING=NOWHERE
http://www.businessinsider.com/c/057a6c79db62314a9d9ff200
Trevor Kurtz
Thu, 11 Jun 2009 16:02:35 -0400
http://www.businessinsider.com/c/057a6c79db62314a9d9ff200
This might be pointless - but hey, why not? Anyone have an educated guess on what was paid for both companies?
http://www.businessinsider.com/c/afb9b914d55f314a71564200
Same-as-it-ever-was
Thu, 11 Jun 2009 15:49:41 -0400
http://www.businessinsider.com/c/afb9b914d55f314a71564200
Tim wasted no time at all getting up to speed on AOL's culture.
Sure, buy a company that he founded.
Yeah, yeah, he is just going to get his investment back in AOL stock.
Come on - what about the optics on this.
It's good ole AOL doing what AOL is good at - pissing away more money on needless acquisitions.
I think it is terrible form for AOL to make the Patch acquisition.
I have to believe there are dozens of other companies focused on "local" they could have purchased that Tim was not involved with.
Way to go Tim - - can't wait to see AOL on the pink sheets!
http://www.businessinsider.com/c/2e37544bd353314a4fab0d00
Google Insider
Thu, 11 Jun 2009 14:58:27 -0400
http://www.businessinsider.com/c/2e37544bd353314a4fab0d00
Nicholas you questioned the viability of local in your article from June 8 titled "50% of Google's self serve advertisers don't come back"
>
If local search can't make money how will this work in display?
IAC, Yahoo and Microsoft abandoned or drastically cut back in the local information space.
Why are two tiny acquisitions and a declining mapquest going to work in a down market.
http://www.businessinsider.com/c/2e37544ba44a314a62a40d00
smartone
Thu, 11 Jun 2009 14:19:16 -0400
http://www.businessinsider.com/c/2e37544ba44a314a62a40d00
anyone know the price for these acquisitions
going.com could be great if they got rid of the social networking stuff and concentrated on the user generated event listings
http://www.businessinsider.com/c/2e37544bd048314a3ca30d00
There Goes My Stock Again
Thu, 11 Jun 2009 14:11:28 -0400
http://www.businessinsider.com/c/2e37544bd048314a3ca30d00
Wonderful...
I see Tim is picking up right where the previous CEOs left off, buying more companies.
http://www.businessinsider.com/c/2e37544b5648314af5a20d00
Spitzer's wife
Thu, 11 Jun 2009 14:09:26 -0400
http://www.businessinsider.com/c/2e37544b5648314af5a20d00
It looks like AOL went to great lengths to make sure there is no conflict of interest.
The rumor is this was prenegotiated with Time Warner as part of Tim taking the CEO job.
http://www.businessinsider.com/c/2e37544b4847314a62a20d00
simeon
Thu, 11 Jun 2009 14:04:55 -0400
http://www.businessinsider.com/c/2e37544b4847314a62a20d00
How do you make money at local with this advertising market?
Isn't google targeting this market?
http://www.businessinsider.com/c/c7b9b914c839314a84ffee00
indeed
Thu, 11 Jun 2009 13:07:20 -0400
http://www.businessinsider.com/c/c7b9b914c839314a84ffee00
@Fishy
Where did you get that nugget?
http://www.businessinsider.com/c/2e37544b6e36314a478a0d00
Fishy
Thu, 11 Jun 2009 12:53:02 -0400
http://www.businessinsider.com/c/2e37544b6e36314a478a0d00
Hmmm...Patch has 8k uniques.
Seriously, 8k uniques.
If you haven't learned already peeps, it is who you know, not what you know.
|
M&A
| 0.999922
|
[
{
"label": "M&A",
"score": 0.9999219179153442
}
] |
CHART OF THE DAY: Microsoft Hasn't Acquired Any Companies This Year - Business Insider
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CHART OF THE DAY: Microsoft Hasn't Acquired Any Companies This Year
Jay Yarow and Kamelia Angelova
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What's the easiest job in tech in 2010? Being Microsoft's M&A boss. The software giant has not made a single acquisition this year.
Every other major tech company in the world has acquired at least 3 companies, according to this chart from CB Insights.
This is pretty wild considering Microsoft is loaded with cash, and it's working on a number of new products, especially in mobile and search. It's hard to believe no companies -- large or small -- interested Microsoft enough to open its wallet.
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Twitter Wants To Start Buying Other Companies - Business Insider
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Twitter Wants To Start Buying Other Companies
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Twitter is looking to pick up a few talented developers through acquisitions says Biz Stone:
Reuters: "That is something we are definitely interested in," Stone told a news conference in Tel Aviv. "We made an acquisition last year that turned out to be an outstandingly good decision."
He said there was nothing specific on the horizon.
"As our attention is grabbed by some of these developers, we will take a hard look at them," Stone said.
Twitter bought search engine Summize in 2008.
He also added that Twitter will start making money next year through non-traditional advertising. He doesn't feel pressured to make money since Twitter has plenty in the bank.
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Marc Lore: What Big Companies Acquiring Startups Get Wrong
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Walmart's e-commerce head successfully sold 3 startups including Quidsi and Jet.com. He explains what big companies that acquire startups get wrong.
Tanya Dua
2020-10-06T12:55:00Z
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Marc Lore is one of the executives behind Walmart's e-commerce push over the past few years.
Lore, who is the president and CEO of Walmart's e-commerce division and has sold three startups, said that the biggest mistake companies make when acquiring startups is letting them be.
He said startups actually want a chance to drive change at the mothership.
Visit Business Insider's homepage for more stories.
E-commerce has been a growing priority for Walmart in recent years, as most recently evidenced by the recent launch of Walmart Plus, its membership program that many view as a direct competitor to Amazon Prime.One of the executives leading it was Marc Lore, the president and CEO of Walmart's e-commerce division, who began working at the retail giant when it acquired e-commerce startup Jet.com in 2016. Speaking to VaynerX founder Gary Vaynerchuk during a VaynerX webinar titled Marketing for the Now on Tuesday, Lore, who has also founded and sold other startups including Quidsi to Amazon for $550 million, said the biggest mistake companies make when acquiring startups is thinking they want to be left alone."When you have a platform as big as Amazon or as big as Walmart, you want to be able to impact the mothership, and really be able to help drive massive change, much bigger than you can do on your own," Lore said.It is no secret that Lore, who worked at Amazon after Quidsi was acquired by the company in 2011, did not particularly like his time there. He said that Amazon left Quidsi alone, which didn't quite work. But when Walmart was interested in Jet, he and his team made it clear to its CEO Doug McMillon that they wanted a stake in the future of the company."I told Doug [that] if you really want me and the team to help Walmart and help drive change, then we would be up for that," he said. "If you just want to buy us and leave us alone and have us do our thing, we're not interested."He said that it was "empowering" when McMillon and Walmart's board entrusted Walmart's e-commerce operations to his team. Jet.com's website was discontinued and its brand was phased out this summer.While he conceded that it was hard to affect change at a company of Walmart's size, Lore said that Walmart had made significant strides in recent years, pointing to initiatives like home delivery and Store No. 8, Walmart's startup incubator, which has produced a number of startups that have been subsumed by the company."It's hard to move an aircraft carrier and change direction," he said. "With that being said, I'm surprised at how much we've been able to innovate inside of a big company."The Business Insider Global Trends Festival will take place on the 19th-23rd of October. Join us for a virtual conference of ideas featuring live, on demand content, workshops, and key speakers from around the world. Find out more.
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CIT Group Acquires OneWest - Business Insider
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Two Famous Faces From The Financial Crisis Executed A Deal Today That Reportedly Made One A Billion Dollars Richer
Myles Udland
Jul. 22, 2014,
5:42 PM
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REUTERS/Brendan McDermidJohn ThainJohn Thain was CEO of Merrill Lynch in 2008 as it crumbled and sold itself to Bank of America.
Meanwhile, John Paulson was shorting mortgages and becoming a billionaire as the housing market collapsed.
Both participated in the latest consolidative move in the financial services industry.
Thain, who is currently CEO of commercial lender CIT, is now the CEO of a regional retail bank.
CIT Group today announced that it reached a deal to acquire OneWest for $3.4 billion in cash and stock. OneWest is a privately-owned regional bank formed in 2009 that operates 73 retail branches in Southern California and has $23 billion in assets and $25 in deposits.
Following the merger, OneWest branches will operate under the "CIT Bank" name, and the combined bank will have $67 billion in assets.
In a statement CIT Group, which is based in New Jersey, said that the deal will be 20% accretive to its earnings per share in 2016.
REUTERS/Jonathan ErnstJohn PaulsonThe deal was also a boon for John Paulson, the hedge funder who famously made a fortune using credit default swaps to bet against the housing market ahead of the 2008 financial crisis. A report from Bloomberg, citing a person familiar with the matter, said through a fund and credit pool, Paulson & Co. had made about $939 million on the deal
The deal marks another big turn for CIT, which emerged from bankruptcy protection in late 2009 after nearly collapsing following the financial crisis. Thain joined the company as Chairman and CEO in February 2010.
In addition to announcing the deal, CIT also announced second quarter earnings that were better than expected. For the quarter, the company's net income from continuing operations came in at $1.02 per share, better than the $0.85 expected by analysts.
Following the news, shares of CIT gained 10.8%.
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Two Famous Faces From The Financial Crisis Executed A Deal Today That Reportedly Made One A Billion Dollars Richer
Two Famous Faces From The Financial Crisis Executed A Deal Today That Reportedly Made One A Billion Dollars Richer
John Thain was CEO of Merrill Lynch in 2008 as...
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Facebook Is Looking To Acquire Face.com For As Much As $100 Million [REPORT]
http://www.businessinsider.com/facebook-may-acquire-facecom-for-as-much-as-100-million-report-2012-5/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Mon, 30 May 2016 09:02:27 -0400
Seth Fiegerman
http://www.businessinsider.com/c/4fc522646bb3f7093b00000e
Peter
Tue, 29 May 2012 15:24:20 -0400
http://www.businessinsider.com/c/4fc522646bb3f7093b00000e
Automated facial recognition will just make Facebook even creepier than it already is...
http://www.businessinsider.com/c/4fc4d0e469bedd5b0e000015
fyi
Tue, 29 May 2012 09:36:36 -0400
http://www.businessinsider.com/c/4fc4d0e469bedd5b0e000015
Google+ and Android have automatic recognition and tagging of friends. The Facebook cloning machine wants the same feature.
http://www.businessinsider.com/c/4fc4ac356bb3f7275f000012
Michael O'Donnell
Tue, 29 May 2012 07:00:05 -0400
http://www.businessinsider.com/c/4fc4ac356bb3f7275f000012
Meaningless comparison? The step child ZNGA, cash rich from its recent IPO, acquired OMGPop for what I believe was $100 million. The drawing game immediately faded in popularity. ZNGA stock moved from $15- and change to just over $7-, and a true bottom might not yet be in sight. That's what companies with limited in house creativity do--spend like drunken sailors. Facebook will break $30- pretty damn quick.
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Private Jet Firm Jet Linx Acquires Meridian; CEO Interview
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The CEO of private jet firm Jet Linx reveals why it just acquired one of its competitors — and why he wants his company to 'charge ahead' during the pandemic
Thomas Pallini
2020-07-08T15:40:00Z
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Jet Linx CEO Jamie Walker.
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Private jet management firm Jet Linx is acquiring Meridian, a Teterboro, New Jersey-based charter firm with $365 million worth of aircraft. Jet Linx CEO Jamie Walker orchestrated the deal with Meridian and closed the deal on Tuesday even as the pandemic is in full swing. Despite the economic downturn associated with the pandemic, Walker says his experiences during the 2009 crisis shaped his decision making to "charge ahead" with expansion plans. Visit Business Insider's homepage for more stories.The early days of the pandemic saw Omaha, Nebraska-based Jet Linx lose around 85% of its business and furlough 30% of its workers as the country went on lockdown. There was nowhere for its fleet of luxury jets to fly as the virus marched across the US and shuttered the country's cities.Most businesses were struggling to survive but Jet Linx CEO Jamie Walker was eyeing expansion, hearkening back to 2009 when he opened a new private terminal and base in Dallas despite the similarly-grim economic landscape of the economic crisis. Now three months after the pandemic's initial hit, Walker is announcing his company's acquisition of the charter and management business of Teterboro, New Jersey-based Meridian. The deal will see Jet Linx add 23 of Meridian's aircraft to its managed fleet, valued at $365 million based on retail prices, and establish itself as the second-largest jet management firm in the US while giving it a stronger foothold at Teterboro Airport, among the busiest executive airports in the US and a jumping-off point for flights to Europe.Here's why Walker pursued the deal and why his guiding principle during the pandemic is 'charge ahead.'A business lesson learned in 2009When Jet Linx expanded to Dallas in 2009, it was not the best time to be in the private jet industry or pursuing expansion. As Walker recalled, the market was still collapsing when he decided to move forward with plans to open a private terminal in Dallas. "We had made the determination that if there's ever a better time to start a new location, it would be coming out of a recessionary period," Walker told Business Insider, which shaped his thinking on expansion when the economy took another turn for the worse 11 years later. "So having done it once already, it was an easier decision to make this time around."Walker had been preparing for another
recession
as economic trends dictate that a recession occurs every three to four years, according to Cameron Keng, founder of the CPA firm Keng Group in Forbes. That trend has largely been bucked over the past few years with the US experiencing continued economic success since the end of the last recession but economic downturns are inevitable. "Although no one would have guessed the pandemic to accompany the next recession, we were mentally prepared to make some hard decisions and push forward against a negative headwind," Walker said. Walker's Dallas bet inevitably paid off as the economy did recover and Jet Linx has grown to 18 locations, including a new flagship terminal at Teterboro. Now, he wants to do it again with Meridian, the latest in a series of acquisitions for the company with this one giving Jet Linx 23 more aircraft. Making a major acquisition after receiving federal aidThe acquisition comes a few months after Jet Linx received Paycheck Protection Program funds to the tune of roughly $20 million which didn't go unnoticed thanks to donations by some in the firm to the Trump campaign. ProPublica reported that nearly $70,000 was donated to Republican Party-affiliated campaigns and committees by the company's vice chairman, John Denny Carreker.Walker denied that his firm was using the funds to fuel his expansion, saying that the relief was required to prevent further furloughs at Jet Linx. The CEO did admit, however, that he was concerned about the optics of promoting a deal after taking the funds due to what he views as the public's misconception when it comes to the private jet industry. "I know that when people hear the terminology 'private jet' they think that it's not for the public and we're an essential service for the public, just like the airlines are," Walker said. "So we would have furloughed that group and, unfortunately, there will be people that – by nothing that they did to disrupt our business –would be the casualties of this pandemic."Whether or not the firm received the funds would not have impacted the deal, Walker said, but furloughs would have likely continued. "It's unfortunate because the jobs that we've kept should always remain the focus," Walker said. "Whether you're selling widgets or private jets, it's about keeping people employed and a paycheck coming in so they can pay their rent and buy groceries and pay their car leases and everything else."Private jet travel will rebound sooner rather than laterWalker is predicting that his business will return to 2019 levels by mid-2021, years ahead of what major airlines are anticipating. Some wealthy travelers are too scared to fly commercial, he explained, and that's good for the private jet industry."It's picked up more than I thought it would," Walker said when asked about the bullish predictions he made in an April interview with Business Insider. "Unfortunately a lot of it has to do with just the fear of flying commercial." After experiencing a drop by around 85% in April, traffic has picked up consistently in May and June for Jet Linx. July 2020 will see 25% less traffic than the year prior. That trend is being echoed across the industry as aviation safety regulator Argus noted a steady increase in charter flights by in both months, showing a positive trend for the industry. Jet Linx is also seeing more first-time customers that are flying private more so than just the existing customer base, according to Walker. Around 90% of new jet card signups — where flyers prepay to receive locked-in aircraft rates — were from first-time customers since the pandemic began.As Business Insider reported in June, private travel patterns have been largely upended as the wealthy head to off-season destinations where they can easily social distance or newly-reopened regions. Jet Linx told Business Insider last month that the newly reopened states of Texas and Georgia were among its top destinations. Come September, travel patterns will change and Jet Linx's top concern is that business travel won't bounce back."We really need business travel and start coming back by September, because I believe the leisure travel after the summer is going to subside," Walker said. "And we could drop back down a little bit if there's not a recovery from the business flyers."
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Yahoo Just Acquired A New Search Product That Could Hurt Google
http://www.businessinsider.com/yahoo-acquired-aviate-search-2014-1/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Mon, 08 Feb 2016 21:25:43 -0500
Jim Edwards
http://www.businessinsider.com/c/52cd8f3c6bb3f762675aed74
jackn3
Wed, 08 Jan 2014 12:47:40 -0500
http://www.businessinsider.com/c/52cd8f3c6bb3f762675aed74
In my experience, the more software tries to help, the worse the results are. Software should just get out of the way and let me do what I want.
http://www.businessinsider.com/c/52cd3dd5eab8ea3358752994
A Ron Duongsaa
Wed, 08 Jan 2014 07:00:21 -0500
http://www.businessinsider.com/c/52cd3dd5eab8ea3358752994
Am I the only one that have a clean and organized homescreen ? With apps put into appropriate folders based on categories ?
http://www.businessinsider.com/c/52ccfe74eab8ea0a54d75d8d
Chas
Wed, 08 Jan 2014 02:29:56 -0500
http://www.businessinsider.com/c/52ccfe74eab8ea0a54d75d8d
From a purely user perspective, 'contextual' search doesn't work for me. When I recently did a search on YouTube, the results were laughable- and this from the king of search, Google. 'Pulse' has been implemented on LinkedIn and the contextual suggestions for news targeted to me, I have no interest in. Concerning Yahoo! itself, the site is no longer relevant, and will take it's place alongside AOL in the archives of the internet.
http://www.businessinsider.com/c/52ccc94969bedd372ce61167
bahahalol
Tue, 07 Jan 2014 22:43:05 -0500
http://www.businessinsider.com/c/52ccc94969bedd372ce61167
She has no style. She was the nerdy girl at school. She pays absolute top dollar to look like she has style. Similar to how she pays absolute top dollar on acquisitions to make it look like Yahoo has mojo.
http://www.businessinsider.com/c/52ccc8d16da811e9558b4568
bahahalol
Tue, 07 Jan 2014 22:41:05 -0500
http://www.businessinsider.com/c/52ccc8d16da811e9558b4568
Enough Yahoo puff pieces. Seriously, we get BI wants to be acquired by them but honestly. Yahoo is helmed by Meyer is not doing well.
If you think big G, Apple or the carriers are stupid enough to cede the homepage of your mobile to Yahoo I've got a lovely bridge to sell you.
While this COULD be an effective strategy, its all about the execution. Absent carrier partners doing Y! homescreen preloads, this strategy is DOA.
http://www.businessinsider.com/c/52ccc623eab8ead15cd75d8f
Barf Arf Arf
Tue, 07 Jan 2014 22:29:39 -0500
http://www.businessinsider.com/c/52ccc623eab8ead15cd75d8f
Anything Marissa Mayer touches turns to a dog. That should be clear to even the idiots now.
http://www.businessinsider.com/c/52ccb796ecad045744d75da1
more cupcakes
Tue, 07 Jan 2014 21:27:34 -0500
http://www.businessinsider.com/c/52ccb796ecad045744d75da1
Almost killed my windows computer, got infected several times, and CPU cycle eater scanning my disks. Marissa ! We love your style, we think you are a spendthrift, disorganized ineffective CEO ! $$$$ down the toilet... ( and friends who invest to goose the stock and wait for AD REVENUE returns ). She ought to go back to TEACH as she surely is a weakling manager.
http://www.businessinsider.com/c/52ccb6d36bb3f7a545e61167
more cupcakes
Tue, 07 Jan 2014 21:24:19 -0500
http://www.businessinsider.com/c/52ccb6d36bb3f7a545e61167
Ha ! Just another ?$B acquisition with no user revenue.
Question is can the development of a Yahoo (re)branded product proceed better than the NEW AND IMPROVED (very buggy) YAHOO MAIL ( under supervision of miss cupcake herself ). Real salient question? Let's see what happens....
http://www.businessinsider.com/c/52ccb2d7ecad04f63dd75d8d
the kiLLing JoKe
Tue, 07 Jan 2014 21:07:19 -0500
http://www.businessinsider.com/c/52ccb2d7ecad04f63dd75d8d
The same Yahoo site that's spreading advertising malware? That crap site?
http://www.businessinsider.com/c/52ccabf86bb3f77f2fe61175
Roger C.
Tue, 07 Jan 2014 20:38:00 -0500
http://www.businessinsider.com/c/52ccabf86bb3f77f2fe61175
Her style is carefully crafted. She was groomed for this position. She has to look conservative.
http://www.businessinsider.com/c/52ccabd26da811be7f8b456e
Roger C.
Tue, 07 Jan 2014 20:37:22 -0500
http://www.businessinsider.com/c/52ccabd26da811be7f8b456e
Marissa Mayer picture time!!!!!
http://www.businessinsider.com/c/52cca5c7ecad044523d75d90
New American Dream
Tue, 07 Jan 2014 20:11:35 -0500
http://www.businessinsider.com/c/52cca5c7ecad044523d75d90
Marissa might want to work on her ad network instead...
<a href="http://www.informationweek.com/security/attacks-and-breaches/yahoo-ads-hack-spreads-malware/d/d-id/1113325" target="_blank" rel="nofollow" >http://www.informationweek.com/security/attacks-and-breaches/yahoo-ads-hack-spreads-malware/d/d-id/1113325</a>
http://www.businessinsider.com/c/52cca24deab8eaf20fd75d90
SpunkyBunks
Tue, 07 Jan 2014 19:56:45 -0500
http://www.businessinsider.com/c/52cca24deab8eaf20fd75d90
She needs a gay stylist STAT!
http://www.businessinsider.com/c/52cc9ccaeab8eae807d75d8d
wei-min chu
Tue, 07 Jan 2014 19:33:14 -0500
http://www.businessinsider.com/c/52cc9ccaeab8eae807d75d8d
another pipe dream for Ms. Mayer
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McConnell Will Vote to Acquit Trump in Senate Impeachment Trial
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GOP leader Mitch McConnell will vote to acquit Trump in Senate impeachment trial
John L. Dorman
2021-02-13T15:02:51Z
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Senate Minority Leader Mitch McConnell.
Caroline Brehman/POOL/AFP via Getty Images
GOP Sen. Mitch McConnell of Kentucky will vote to acquit former President Donald Trump.
"While a close call, I am persuaded that impeachments are a tool primarily of removal and we therefore lack jurisdiction," he wrote.
McConnell's announcement puts to rest any chance that he would have delivered a historic rebuke to a president from his own political party.
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GOP Senate Minority Leader Mitch McConnell of Kentucky will vote to acquit Donald Trump for "incitement of insurrection" in the former president's Senate impeachment trial, according to sources close to senator."While a close call, I am persuaded that impeachments are a tool primarily of removal and we therefore lack jurisdiction," McConnell wrote in a letter to GOP colleagues."The Constitution makes it perfectly clear that Presidential criminal misconduct while in office can be prosecuted after the President has left office, which in my view alleviates the otherwise troubling 'January exception' argument raised by the House."Trump, who was impeached by the US House of Representatives for his role in the deadly January 6 Capitol riots, is likely to be acquitted by the upper chamber.
A Trump conviction would require a two-thirds majority in the upper chamber, or 67 votes.Read more: Meet the little-known power player with the 'hardest job' on Capitol Hill. She's shaping Trump's impeachment trial and Joe Biden's agenda.With the Senate currently split between 50 Democrats and 50 Republicans, 17 Republicans would have to abandon the former president, which appears unlikely.McConnell's announcement puts to rest any chance that he would have delivered a historic rebuke to a president from his own political party.
In his letter, the GOP leader, repeating what he said last month, wrote that the final decision of individual senators was "a vote of conscience."McConnell, who has served in the Senate for 36 years, is tasked with leading with a party shut out of power in Washington DC and facing internal divisions over the impeachment vote.While most Senate Republicans question the constitutionality of the impeachment trial, several lawmakers, including Sens. Susan Collins of Maine, Lisa Murkowski of Alaska, Mitt Romney of Utah, Pat Toomey of Pennsylvania, Ben Sasse of Nebraska, and Bill Cassidy of Louisiana, broke ranks and joined Democrats in a 56-44 vote earlier this week to affirm that the trial was constitutional.This story has been updated.
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Zynga Acquires Mobile Games Studio Astro Ape - Business Insider
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Zynga Acquires Mobile Games Studio Astro Ape
Alyson Shontell
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We received a tip today about some suspicious LinkedIn activity.
Employees at NYC mobile games studio, Astro Ape, are changing
their places of employment to Zynga on the professional network.
Chieh Huang, Astro Ape's CEO, has switched his profile
information. A number of other employees, including
Astro Ape's director of engineering, software engineers and
graphic artists have done the same.
It's pretty safe to assume that Zynga has acquired Astro Ape.
In April, the year-old startup was
bragging that it was better than Zynga. It looks like
Zynga
took notice.
We're reaching out to Zynga for a comment and will give you an update
once we hear back.
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Zynga Acquires Mobile Games Studio Astro Ape
Zynga Acquires Mobile Games Studio Astro Ape
The CEO just switched his company to "Zynga" on LinkedIn.
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CNN Acquires CNNbrk Twitter Account With Nearly 1 Million Followers - Business Insider
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CNN Acquires CNNbrk Twitter Account With Nearly 1 Million Followers
Dan Frommer
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Hard to believe, but the CNN Twitter account racing Ashton Kutcher to 1 million subscribers wasn't even under CNN's (TWX) control until recently.
CNN confirms that it has has taken control of the @cnnbrk account -- and its 944,000 followers. CNN didn't disclose any financial details, but said it's been working with previous owner James Cox on the account for more than two years.
This is no-brainer for CNN, and we hope they paid Cox a lot of money for the account he's nurtured. By adding more stories to the feed -- and links to CNN's site -- CNN.com could generate hundreds of thousands of extra pageviews per day. (CNN isn't sure if it's going to add links in the near-term.)
Whoever is control of the account has been tinkering with it in the last hour or so, adding five CNN-owned or CNN reporter accounts to the ones it's following.
Not a coincidence: A recent tweet on Cox's account suggests he's recently visited CNN's HQ in Atlanta. "On the way home after a busy two days. Goodbye Atlanta!" Indeed, he's been at the CNN campus for the last few days talking about Twitter and social media.
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CNN Acquires CNNbrk Twitter Account With Nearly 1 Million Followers
CNN Acquires CNNbrk Twitter Account With Nearly 1 Million Followers
Hard to believe, but the CNN Twitter account racing Ashton Kutcher to 1 million subscribers wasn't even under CNN's control until recently.
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AbbVie to Reconsider Shire Acquisition
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A $55 Billion Merger Designed To Dodge Taxes May Be Falling Apart
Paul Sandle and Sarah Young,
Reuters
2014-10-15T11:21:23Z
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A sign sits in front of Shire's manufacturing facility in Lexington, Massachusetts
Thomson Reuters
LONDON (Reuters) - Chicago-based AbbVie said it was reconsidering its $55 billion takeover of Shire weeks after the U.S. government moved to curb deals designed to reduce tax, wiping $13 billion off the London-listed firm's stock price.
AbbVie said late on Tuesday it was responding to the U.S. proposals which aim to make it harder for American firms to shift their tax bases out of the U.S. and into lower cost jurisdictions in Europe.
AbbVie's move for Shire, a leader in drugs to treat attention deficit hyperactivity disorder (ADHD), was announced in July amid a spate of similar takeover deals within the U.S. and European pharmaceutical sector.
It proposed creating a new U.S.-listed holding company with a tax domicile in Britain, where the government has also introduced tax breaks designed to encourage research and development.
The news hammered shares in Shire, sending them down 27 percent and back to where they were before the deal talks emerged in June.
Shares in larger rival AstraZeneca, which had rebuffed its own takeover deal by U.S. group Pfizer fell 4 percent while replacement knees and hips maker Smith & Nephew, which had also been touted as a target, slipped 3 percent.
AbbVie had recently said it was still committed to the deal, which would have reduced the reliance on its Humira drug, the world's top selling arthritis medicine which loses U.S. patent protection in 2016.
Were AbbVie to renege on its recommendation for the deal to shareholders it could have to pay a break fee of around $1.6 billion to Shire.
"AbbVie's board will consider, among other things, the impact of the U.S. Department of Treasury's proposed unilateral changes to the tax regulations announced on September 22," AbbVie said.
The U.S. firm said its board would meet on Oct. 20 to consider whether to withdraw or modify its recommendation on the deal with Shire.
Shire, which said its trading had remained strong, urged AbbVie to push ahead with the deal.
"The board of Shire believes that AbbVie should proceed with the recommended offer on the agreed terms in accordance with the Cooperation Agreement," Shire said on Wednesday.
Panmure Gordon analyst Savvas Neophytou said the board of AbbVie had a responsibility to its shareholders to consider new facts relating to any ongoing event that impacts shareholder value.
"Ultimately we expect the deal to go through," he said.
Shire said that it had not been provided with a detailed analysis of AbbVie's tax assumption. (Writing by Kate Holton; editing by Anna Willard)
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Uber to Acquire Alcohol Delivery Startup Drizly for $1.1 Billion
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Uber to acquire alcohol delivery startup Drizly for $1.1 billion
Katie Canales
2021-02-02T14:20:08Z
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Uber is buying Drizly for $1.1 billion, the companies said in press release on Tuesday.
Drizly has been called the "Uber for alcohol delivery" and marks another step for Uber into delivery apps.
Last year, Uber acquired food and grocery delivery startup Postmates for $2.6 billion.
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Uber will acquire the alcohol delivery company Drizly for $1.1 billion in both stock and cash, the companies announced in a press release Tuesday.Drizly will eventually integrate with the company's Uber Eats app, but it will also maintain its own Drizly app, per the release. Drizly has been called the "Uber for alcohol delivery.""By bringing Drizly into the Uber family, we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead," Uber CEO Dara Khosrowshahi said in the press release.The deal is expected to finalize by this summer, with more than 90% of the sum being paid to Drizly stockholders in the form of Uber common stock. The deal is "subject to regulatory approval," per the release.
Drizly did not immediately respond to Insider's request for comment. Uber declined to comment further beyond the press release.The acquisition is another foray on Uber's part into delivery apps — its Uber Eats service competes with the likes of DoorDash and Seamless. It shelled out $2.6 billion in an all-stock deal for food-delivery startup Postmates last July.Read more: As delivery exploded during the pandemic, these 5 startups offered restaurants alternatives to DoorDash, Uber Eats, and Grubhub and their hefty feesUber was reportedly in talks to buy Grubhub for $7.3 billion in June 2020 but lost to the European food-delivery company Just Eat Takeaway. Uber backed away from the deal over antitrust concerns, according to a CNBC report from June.
US officials had spoken out against any such deal between Uber and Grubhub in May of last year, with some Democratic lawmakers even writing a letter advocating against it. An Uber merger with Grubhub would have given the rideshare giant control of about half of the overall food delivery market, per data from the research firm Edison Trends.
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2 Simple Reasons There Should Be A Big Boom In Mergers & Acquisitions - Business Insider
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In One Slide, Barclays Shows Why There's Going To Be A Surge In Mergers & Acquisitions
Joe Weisenthal
Jan. 23, 2013,
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Great slide from Barclays showing the two reasons there will be a lot more M&A volume.
1: M&A volume picks up when volatility is low. Volatility has been collapsing.
2: Yields on assets are very high compared to funding costs (high-yield borrowing costs). That also makes M&A more compelling.
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In One Slide, Barclays Shows Why There's Going To Be A Surge In Mergers & Acquisitions
In One Slide, Barclays Shows Why There's Going To Be A Surge In Mergers & Acquisitions
Should be good for the market.
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Craft Brewers Boycott Brands Acquired by Anheuser-Busch
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Craft brewers are calling for the boycott of these 14 'imposter' beer brands
Kate Taylor
2017-05-25T14:37:55Z
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Wicked Weed
Craft brewers are banding together to cut off beer brands acquired by Anheuser-Busch InBev, the largest brewer in the world.Brew Studs, a blog dedicated to craft beer, published a list of brands acquired in part or completely by AB InBev — including Goose Island, Blue Point, and Wicked Weed — and is calling on craft-beer fans to ditch them.
"Welcome to the page that keeps you informed about impostor craft beer brands, those who try to benefit from the power of craft beer, even though they are aligned with forces who are trying to tear it down," the post says.AB InBev, the company behind brands like Budweiser and Busch, says it intends to help craft beer brands grow with its investment and that they'll operate unchanged after acquisitions."To say our beers are 'imposter' craft ignores the intense skill, time and meticulous attention to detail that goes into making any great beer. And beyond that, our partnership couldn’t be less about trying to tear down craft," Steve Crandall, founder and CEO of Devils Backbone, told Business Insider in an email. "It's allowed us to hire many more craft beer-loving employees, invest in our local community through new facilities, and partner with other craft breweries on things like safety initiatives for brewers of all sizes."Some craft brewers remain unconvinced. Here are the 14 brands Brew Studs says fans should "cut off" because of their ties to AB InBev:
1. Goose Island
Facebook/Goose Island
AB InBev acquired the maker of beers including Goose IPA and Honkers Ale in 2011.
2. Kona
Facebook/KonaBrewingCo
The Craft Brew Alliance acquired Kona in 2010. Three years later, AB InBev acquired a 32.2% stake in CBA's business — Brew Studs argues tarnishes the alliance's "craft" credentials.
3. Omission
Omission Lager: a refreshing and crisp, easy-drinking beer. Cheers! A post shared by Omission Beer (@omissionbeer) on Mar 1, 2017 at 4:19pm PSTMar 1, 2017 at 4:19pm PST
Omission, a gluten-removed beer that launched in 2012, is another CBA brand.
4. Redhook
Our mouths are watering just looking at it. 😋 #BicoastalIPA A post shared by Redhook Brewery (@redhook) on May 24, 2017 at 6:48pm PDTMay 24, 2017 at 6:48pm PDT
Redhook, another CBA beer, was founded in Seattle in 1981.
5. Widmer Brothers
Drifter is back! We’re offering $3 throwback pint pricing from when we first launched this Pale Ale in 2008 (👋 old Portland), all day long 5/1-5/3 at the Widmer Pub. A post shared by Widmer Brothers Brewing (@widmerbrothers) on Apr 30, 2017 at 7:00pm PDTApr 30, 2017 at 7:00pm PDT
Widmer is a CBA brand founded in Portland, Oregon, in 1984.
6. 10 Barrel
It won't fit in your pocket, butt it's still great. #brewedtocrush A post shared by 10 Barrel Brewing Co. (@10barrelbrewing) on May 7, 2017 at 9:34am PDTMay 7, 2017 at 9:34am PDT
AB InBev acquired 10 Barrel in 2014. "We feel 100% that we have absolutely nothing to apologize for, and never would we apologize for the sale," cofounder Garrett Wales said, according to a 2015 report by The Bulletin in Bend, Oregon.
7. Blue Point
That's right, we brewed a seaweed beer. But don't jump ship just yet – #PropStopper is a big, American IPA. The seaweed just adds a slightly salty finish to cut through the hops' bitterness and cleanse your palate after each sip so you can continue to enjoy this 7.7% dry-hopped IPA. A post shared by Blue Point Brewery (@bluepointbrewing) on May 16, 2017 at 3:45pm PDTMay 16, 2017 at 3:45pm PDT
The New York craft brewer was acquired in 2014 in a deal that reportedly cost AB InBev $24 million.
8. Elysian
Callin' all @soundersfc fans - Elysian Fields is OPEN! Come see the space, try out our brand new menu, and join us for a beer before the match. See you soon! A post shared by Elysian Brewing (@elysianbrewing) on May 20, 2017 at 12:35pm PDTMay 20, 2017 at 12:35pm PDT
AB InBev acquired Elysian — known for its tagline, "Corporate Beer Still Sucks" — in 2015.
9. Four Peaks
Did you know you can get #Fourpeaks #Beer in The Draft Room at @Chasefield and it's 100% open to ANYONE with a ticket.
@dbacks #beer #baseball #godbacks A post shared by Four Peaks Brewing Co. (@fourpeaksbrew) on May 24, 2017 at 1:04pm PDTMay 24, 2017 at 1:04pm PDT
The Arizona craft brewer was acquired by AB InBev in 2015.
10. Breckenridge
Ophelia Hoppy Wheat Ale. Heaven help a fool who falls in love. Amazing pic from @rule_of_thirst! Go check out these great beer pics on the #ruleofthirst insta! A post shared by Breckenridge Brewery (@breckbrew) on May 12, 2017 at 10:59am PDTMay 12, 2017 at 10:59am PDT
The Colorado-based brand was acquired in 2015, days after AB InBev announced it had purchased Four Peaks.
11. Golden Road
Our Imperial Russian Stout has spent eight months aging in Woodford Reserve barrels resulting in a taste explosion of vanilla, caramel, chocolate ganache and smooth whiskey! 📷: @unitedbyfate_ A post shared by Golden Road Brewing (@goldenroadbrew) on May 9, 2017 at 3:02pm PDTMay 9, 2017 at 3:02pm PDT
The Los Angeles-based Golden Road Brewing was acquired by AB InBev in 2015.
12. Devils Backbone
Devil's Backbone
AB InBev acquired Devils Backbone in 2016. It was the beer giant's first purchase under its revamped craft and craft-inspired division, High End."This is our promise and our creed, literally: 'Be Beer Positive always. Great Beer is Great Beer, whether we made it or not,'" Steve Crandall, founder and CEO of Devils Backbone, said in an email to Business Insider. "Can we all agree on that?"
13. Karbach
Can you smell it?
Hop Delusion is in the fermenters as we speak!
Amarillo, Simcoe, and Mosaic in abundance! A post shared by Karbach Brewing Co (@karbachbrewing) on May 23, 2017 at 1:02pm PDTMay 23, 2017 at 1:02pm PDT
AB InBev acquired the craft brewer, based in Houston, Texas, in 2016.
14. Wicked Weed
Wicked Weed
In May, the Asheville, North Carolina, brewer announced AB InBev would acquire it."They're the largest company in this segment, and to have that kind of support behind our mission is immense," Wicked Weed cofounder Luke Dickinson told Business Insider. "We are going to be able to achieve things that we never imagined and have an impact that we never imagined, and that's incredible."
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Google Acquiring Motorola - Business Insider
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Google Acquiring Motorola
Tristan Louis, TNL.net
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Tristan Louis is a New York-based internet entrepreneur and journalist
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Today’s announcement that Google is acquiring Motorola for $12.5 billion is the latest big stunner in the mobile industry. And yet, when looked at closely, it makes total sense.
An inexpensive patent bet
In his note announcing the acquisition, Larry Page made it clear that a lot of the acquisition was due to Motorola’s strong patent portfolio. At the current time, the company holds 17,000 patents and has filing for another 7,500.
Earlier this year, Carl Icahn, Motorola’s largest shareholder, estimated that the patent portfolio alone could be worth $4 billion. In June, Apple, Microsoft, and RIM banded together to acquire 6,000 patents from Nortel and keep them out of Google’s hands: the pricetag on that acquisition was $4.5 billion. This means that the consortium had paid about $750,000 per Nortel patents. If you were to apply the same number to Google’s acquisition of the Motorola patent portfolio, the price tag would be $12.75 billion. It is interesting to see how this number is extremely close to what Google ultimately offered for Motorola.
But it gets better…
Motorola Mobility, the unit Google is acquiring, has $3 billion in cash on hands, reducing the price of the overall deal to $9.5 billion and dropping the per patent price to just under $560,000 per patent, assuming none of the filed patents are accepted or under $390,000 per patent if you assume that Motorola will get all 7500 filed patents approved.
… and realize this is all based on a $0 valuation of the rest of Motorola’s assets.
So what’s in there? In order to get a better understanding, one just has to look at some of the patent-related lawsuits Motorola has filed in the mobile space. For example, last October, they assessed that Apple had violated 18 specific patents in areas like WCDMA, GPRS, 802.11, wireless email, location based services, device synchronization, etc… The next month, they sued Microsoft around things like an online marketplace, map services, video coding, etc…
So the company has a set of patents that are covering large areas of what we now know as the smartphone space but that’s not all.
The handset business
A lot of people are going to focus on the fact that Motorola has a healthy mobile handset and accessories business. This business has been valued at about $3 billion and generated $3.3 billion in revenue in the last quarter. That business covers handsets, as well as accessories.
If Google were true to its word that it wants to continue working closely with its partners in the Android ecosystem, it might have to reconsider the handset unit as part of the asset mix it’s offering. A way to handle some of this could be through divestiture, by selling off some of the parts or exchanging them for patents, if that’s what Google is after.
For example, the company could hand off the accessories business (bluetooth headsets, etc…) to HTC, which has traditionally been a strong player in the manufacturing of such devices, in exchange for a guarantee that the company would continue developing on Android and/or some of the patents the company may have acquired in its recent deal with S3. The company should also look to sell Motorola’s manufacturing divisions to HTC, which could merge them into their more traditional contract manufacturing offerings.
The company could also sell the handset unit to Samsung in exchange for a similar deal.
Google would then be able to consolidate the patents and protect all companies in the Android ecosystem and avoid any potential channel conflict in the process.
The TV business
Another noteworthy part of this acquisition is the TV set-top business, which has been valued at $2.5 billion in the past but is also seen as having a value of near $0 in this acquisition deal.
Through acquisitions, Motorola has become the leader in providing boxes that connect cable and satellite broadcasts to television. In the US, for example, they are part of the duopoly with Cisco in the TV set-top box business.
This creates ample opportunities for Google and its floundering Google TV offering. Through this acquisition, the company now has a chance to control a large part of the future access to the living room. It won’t happen quickly but I would not be surprised if GoogleTV started showing up as part of cable package offerings over the next few years.
Along this path, Google acquires a large amount of relationships with cable TV providers which may help it in ts quest to deliver YouTube content to more people.
Winners and Losers
A deal of this size is so disruptive that it engenders its own set of winners and losers.
I would say that, at first glance, the big winner on this is obviously Google and the big loser is Apple. With this deal, Google has gone on a full assault on the Cupertino-based giant (which, just last week, became the most valuable company in the world.)
First, the cold war between Google and Apple has now gone hot: Motorola and Apple were involved in several lawsuits prior to this acquisition and I assume that Google will not back down from those.
Secondly, Google is not only going after the mobile business but gets to be disruptive to the movie and TV business (due to the set-top unit) and could potentially thwart Apple’s burgeoning AppleTV business while at the same time undercutting iTunes in the video space.
It is unclear as to whether Microsoft and Nokia are either winners or losers in this deal.
Microsoft could end up a winner if Samsung and HTC decide to spend less time on Android and use Windows Phone as a hedge. Or it could be a loser if it turns out that integrating hardware and software is the key to success in this market (the company acquired Danger a few years ago and was unsuccessful with its own handsets).
Nokia could be acquisition targets for Microsoft, which could make them winners moving forward. Or Google could offer free phones, killing both Microsoft’s chances at selling an independent OS and Nokia’s chances at selling many Microsoft-OS based phones.
RIM and HP (due to the Palm unit) strike me as the biggest losers in this market. Neither of them has a strong footing in the marketplace and today’s announcement seems to further strengthen the Android position, giving them less room to maneuver. Furthermore, the rich patent portfolio Google is acquiring may mean that the two companies will have to pay more royalties to a business that has been killing them. Either way, the future is, at best, uncertain (if they were to license their OS out, they may have a chance).
Conclusion
Today’s announcement substantially reshapes multiple competitive fields. The effects will be felt in both the mobile and living room spaces for months and years to come. It’s a bold play by Google but also one that is pretty conservative because the benefits accrued as a result of this acquisition are substantially larger than the price tag (let’s not forget that, considering Motorola’s cash reserves and revenue projections, Google is bidding less than 1x Motorola’s yearly revenue on this). This deal seems like a real game changer with little or no downside for Google.
Tristan Louis is the founder and CEO of Keepskor and
writes the influential tnl.net weblog, where this was initially posted under the title Google Acquiring Motorola.
Read more posts on TNL.net »
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Google Acquiring Motorola
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Today’s announcement that Google is acquiring Motorola for $12.5 billion is the latest big stun...
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Google Steps Up Its Investment In Social Games With $70 Million Acquisition Of Jambool
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Google just poured another $70 million into its social gaming play, with the acquisition of in-game payments startup Jambool, TechCrunch reports.
Google has been on an acquisition spree, and $70 million isn't a huge sum for the search giant, but the social gaming spending is starting to add up: last week, the company bought Slide for $228 million, and last month it emerged that Google had secretly invested $100-$200 million in FarmVille developer Zynga.
Later this year, the company plans to launch Google Games as an alternative destination to Facebook for casual gaming. This is pretty far from anything Google has had success with on its own, so it makes sense that the company is acquiring talent and technology to make this work.
TechCrunch reports that Google is paying $55 million for the company, plus another $15-$20 million in earnouts.
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Google Steps Up Its Investment In Social Games With $70 Million Acquisition Of Jambool
Google Steps Up Its Investment In Social Games With $70 Million Acquisition Of Jambool
Google doesn't know much about casual games, so it's buying the talent and technology it needs to launch Google Games this year.
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Facebook Tried to Buy a Mystery Competitor Multiple Times and Failed
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Facebook tried and failed multiple times to acquire a mystery competitor that wasn't Twitter or Snapchat, according to the FTC's new lawsuit
Isabella Jibilian
2020-12-10T20:10:41Z
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Facebook CEO Mark Zuckerberg in Washington D.C. on Oct. 23, 2019
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The Federal Trade Commission and attorneys general from 46 states, plus DC and Guam, both filed lawsuits against Facebook on Wednesday.
Both suits allege that Facebook broke anti-trust laws and participated in monopolistic behavior by acquiring Instagram and WhatsApp.
"Facebook has, for many years, continued to engage in a course of anticompetitive conduct with the aim of suppressing, neutralizing, and deterring serious competitive threats to Facebook," the FTC's suit alleged.
In addition, documents from the FTC suit say that Facebook tried to buy an unnamed competitor, besides Twitter and Snapchat, multiple times and failed.
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Facebook attempted to acquire an unnamed competitor multiple times and failed, according to a new Federal Trade Commission lawsuit filed Wednesday. "Facebook has tried and failed to buy other companies that have drawn its competitive attention, including Twitter and Snapchat," documents from the suit said. "Similarly, Facebook has made multiple overtures to acquire [redacted] over the years," it reads, with the rest of the sentence is redacted.The name of the company in question was blacked-out from the filings, leaving commentators to wonder which platform was the subject of Facebook's acquisition attempts. Shira Ovide, a technology reporter for The New York Times, first highlighted the news in a Twitter post on Wednesday.
An excerpt from the Federal Trade Commission's suit against Facebook, filed Wednesday.
The Federal Trade Commission
Commentators took to Twitter Thursday to guess the company in question. Some said TikTok, others guessed Spotify, VSCO, Nextdoor, LinkedIn and Reddit.
Besides Facebook, Instagram, WhatsApp, Snapchat and Twitter, the other most popular social-networking apps in the US, by monthly users, include: Pinterest, Reddit, Google Messenger, Tumblr,
Discord
, Google Hangouts, GroupMe, Kik, and Tik Tok, according to a 2019 survey published by Statista.The FTC's case against Facebook, as well as another suit filed the same day by 48 attorney generals across the nation, allege that Facebook violates antitrust law and chooses to acquire or neutralize rival companies rather than competing with them. Both suits recommend breaking up Facebook and spinning off Instagram and WhatsApp.Federal regulators approved Facebook's decision to buy Instagram in 2012 and messaging service WhatsApp in 2014. But starting in September of 2019, attorneys general, and later the FTC, began to take a second, hard look at the move, Business Insider previously reported. Read more: Mark Zuckerberg threatened not to invest in the UK over its 'anti-tech' attitude during a secret government meeting
On Wednesday, Facebook called the suits "revisionist history" and released a statement saying, "We face competition in every aspect of our business. That was true before the acquisitions of Instagram and WhatsApp and remains true today.""Now, many years later, with seemingly no regard for settled law or the consequences to innovation and investment, the agency is saying it got it wrong and wants a do-over," Facebook wrote in a statement. "This is simply not how the antitrust laws are supposed to work."Facebook did not immediately respond to a request for comment by Business Insider on the unnamed acquisition target.
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Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp
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'It's better to buy than compete': The FTC is using Mark Zuckerberg's own words against him. Read the Facebook CEO's crucial emails here.
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Beats Founder Rumored To Join Apple As 'Special Adviser' To Tim Cook
Lisa Eadicicco
May
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Tim Cook just acknowledged that the price of iPhones may be too high
The latest purported iPhone 7 leak suggests a significantly improved camera
Tim Cook reportedly thought a real iPhone case made by Apple was a fake
Just after the Financial Times reported that Apple is closing a deal to buy Beats Electronics for $3.2 billion, new reports suggest that Beats founder Jimmy Iovine will be hired as a "special adviser" to Apple CEO Tim Cook.
Iovine, a music industry veteran who co-founded Beats with hip-hop star Dr. Dre, will reportedly advise Cook on creative matters, according to The New York Post.
Other details about Iovine's potential involvement if the deal goes through are unclear at this time.
Iovine is also the chairman of Interscope, Geffen and A&M record labels, which are all owned by Universal Music Group.
If true, the Beats Electronics acquisition would be Apple's largest purchases to date. It seems like an odd move for Apple, but reports suggest that the iPhone maker is more interested in the Beats Music streaming service than its line of luxury headphones.
Last year, Iovine told AllThingsD that he had tried to convince former Apple CEO Steve Jobs that the company should launch a subscription music service back in 2002 and 2003. Jobs was interested in the idea, according to AllThingsD, but he didn't want to pay record companies.
Beats Music got generally positive reviews since it launched earlier this year. The service costs $10 per month, which is the same price as Spotify's premium subscription.
Beats Electronics has declined to comment on the potential acquisition, but the Financial Times reported that the deal could be announced as early as next week.
SEE ALSO: Reviewers Agree: Beats Headphones Are Overpriced And Not That Great
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Beats Founder Rumored To Join Apple As 'Special Adviser' To Tim Cook
Beats Founder Rumored To Join Apple As 'Special Adviser' To Tim Cook
Beats Electronics CEO and co-founder Jimmy Iovine may join Apple as a special adviser to Apple CEO Tim Cook, according to a new report.
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Twitter Is Buying A Startup, Crashlytics, And Not Killing It Off For A Change
Owen Thomas
Jan. 28, 2013, 11:59 PM
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Twitter, the global network for short bursts of information, is
buying a startup,
Crashlytics, that tracks when bad code causes apps to fail
abruptly.
Notably, it appears to be leaving Crashlytics alone. TechCrunch
reports that Twitter is not relocating the team from
Cambridge, Mass. to Twitter headquarters in San Francisco, and
allowing it to continue to serve other customers like Yelp and
Waze.
Twitter uses Crashlytics in its own app, as well as Vine, a
recently launched app for sharing short, simply edited videos.
Which brings us to an interesting point: Is Twitter changing its
acquisition strategy?
Twitter has primarily bought pieces of its own ecosystem,
bringing in-house functions previously developed by third-party
developers. Summize, a search engine for tweets, and Tweetie, the
basis of Twitter's iPhone client, are prominent examples. Those
deals have been largely successful, allowing Twitter users to
find tweets and use Twitter-branded mobile apps.
It has also bought startups for their talent. Mixer Labs, a
location-software startup; Posterous, a blogging platform akin to
Tumblr; and Bagcheck, a list-sharing site, are two examples.
Those results have been more mixed:
Mixer Labs CEO Elad Gil
stayed for two and a half years, running corporate strategy. He
left in May 2012.
Posterous CEO Sachin Agarwal
played a key role in Twitter's new photo features.
Bagcheck cofounder Sam
Pullara stayed for just a year on Twitter's engineering
team.
With Crashlytics and Vine, Twitter is setting a new pattern:
Buying startups and leaving them alone to develop products in
Twitter's safe nest.
The model here is Google's acquisition of Android and YouTube,
which it ran for years as standalone divisions.
Twitter's motives may vary deal by deal. As a Crashlytics
customer, it may not have wanted the startup to end up in the
hands of hostile rivals like Google or Facebook, who surely
wouldn't mind learning about the ins and outs of Twitter's
mobile-app code.
Vine, on the other hand, seems to have simply charmed Twitter's
leaders with the premise of a new art form, a video version of
Twitter's 140-character tweets.
But whatever the specific reasoning to buy a company, it's very
interesting that Twitter's breaking from the acquire-hire pattern
of buying startups and crushing what makes them unique.
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Twitter Is Buying A Startup, Crashlytics, And Not Killing It Off For A Change
Twitter Is Buying A Startup, Crashlytics, And Not Killing It Off For A Change
A shift in strategy.
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Google's Shopping Spree Continues, Acquires Photo Editing Site Picnik
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Google's Shopping Spree Continues, Acquires Photo Editing Site Picnik
Jay Yarow
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Google has acquired online photo-editing site Picnik, the company announced in a blog post today.
Picnik, which has 20 employees and millions of monthly visitors, calls Google "truly the best home we could have found."
Google has been picking up a small company or so on a monthly basis in the past few months.
No word on the price of the acquisition.
See Also: Grading Google's Acquisitions
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Google's Shopping Spree Continues, Acquires Photo Editing Site Picnik
Google's Shopping Spree Continues, Acquires Photo Editing Site Picnik
Another little pick up for Google.
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Yahoo Acquires, Shuts Down Startup Distill - Business Insider
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Yahoo Acquires Startup Distill To Nab 7 Mobile Tech Employees
Julie Bort
Feb. 13, 2014,
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Distill co-founder Ken MacInnisKen MacInnis/FacebookYahoo's newest acquisition is a young startup named Distill that landed its $1.3 million in seed funding only about five months ago.
With the purchase, seven Distill employees will join Yahoo, and Distill will shutter its service on March 30, it said on its blog.
Distill was working on ways to help HR people recruit technical talent, a cool idea that combined video interviews with programming challenges, reports TechCrunch's Kim-Mai Cutler, who was first to spy the acquisition news. Distill was in private beta with the service, testing it with companies like ClearSlide, Disney, Box, ModCloth and FiveStars, Cutler reports.
Yahoo has its own recruting logistics problem: It gets 340,000 job applications a year — a fact CEO Marissa Mayer mentions repeatedly on her earnings calls.
But the recruiting tech wasn't what Yahoo wanted.
One of Distill's founders, Deng-Kai Chen, came from TapJoy, and Google before that. Tapjoy is a mobile ad app that helped invent the mobile "offers" business where mobile users get rewards for viewing ads or downloading apps. Its early days were controversial, when some of those rewards turned out to be somewhat fishy. TapJoy has since shed that image and now reaches 450 million mobile users each month, it says.
Chen was Tapjoy's third employee, according to his LinkedIn profile.
Distill co-founder Deng Kai Chen Deng Kai Chen/FacebookDistill co-founder Ken MacInnis hailed from StumbleUpon, where he spent five years, and did a short two-year stint at Yahoo before that.
Yahoo wants the Distill team for its TapJoy roots, it told Business Insider. A spokesperson told us:
I can confirm that we are hiring seven employees from Distill, all of whom are expected to join Yahoo in Sunnyvale next week. Prior to creating Distill, this group was part of the original team behind the creation of Tapjoy, a mobile performance-based advertising platform that drove deep engagement and monetization opportunities for mobile app publishers. At Yahoo, they’ll be drawing upon their expertise from the Tapjoy days to help us build out our mobile advertising solutions.
Here's the blog post from Distill that announces that the service will be closed.
A New Adventure for the Distill Team
We are excited to share the news that the Distill team is off to start a new adventure! We are joining Yahoo. Prior to creating Distill, we were part of the original team behind the creation of Tapjoy, a mobile performance-based advertising platform that drove deep engagement and monetization opportunities for mobile app publishers. We’ll be drawing upon our expertise from the Tapjoy days to help build out Yahoo’s mobile advertising solutions.
As of today, we have stopped development of Distill Schedule and Distill Interview. You will still be able to schedule interviews through the end of February, and the Distill platform will remain available through March 30, 2014. If you have any questions, concerns, or data requests, please contact us at support@distill.cc, or reach out to your account manager directly.
We want to express our sincere thanks and gratitude to everyone at the awesome companies we have been working with, as well as the candidates who have met their future employers through Distill. It's been a fun ride for us, and we couldn’t have gotten this far without your help. Thank you!!
The Distill Team
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Yahoo Acquires Startup Distill To Nab 7 Mobile Tech Employees
With this purchase, seven Distill employees will join Yahoo, and Distill will shutter its service on March 30, it said on its blog.
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How to Get Your Company Acquired for Billions
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How a Harvard grad got her business acquired twice — most recently for $1.35 billion
Emily Canal
2021-03-02T13:57:23Z
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Lissy Hu's company CarePort was first acquired by health tech company Allscripts in 2016 and then again by health tech company, WellSky, in December 2020.
(Gary Higgins/Boston Business Journal)
This story is available exclusively to Insider subscribers.
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While at Harvard Medical School, Lissy Hu saw a glaring problem in healthcare she could fix.
She created CarePort Health, a network that helps health professionals coordinate care, track, and manage patients.
In the last five years, her company has been acquired twice — by Allscripts in 2016 and WellSky in December, for $1.35 billion.
Lissy Hu considers herself an accidental tech entrepreneur. She was attending Harvard Medical School, with the hope of becoming a doctor after graduation, when she saw a glaring problem in healthcare: Many patients need additional care after leaving the hospital, such as at-home services or stints at nursing homes. However, there was a disconnect between the parties trying to organize these efforts, leaving patients without a clear recovery plan. "I wanted to build technology that could address this because I had seen technology work in other areas of our daily life, like restaurants and hotels," said Hu, founder and CEO of CarePort Health, a care coordination network that helps health professionals track and manage patients. "This was an area where technology could solve the problem." Hu launched CarePort Health in 2012 and, in the last five years, her company has been acquired twice — by healthcare IT firm Allscripts in 2016 and health care software maker WellSky in December. CarePort's latest acquisition was for $1.35 billion and terms of the earlier deal were not publicly disclosed. Hu told Insider how entrepreneurs can successfully position their companies to be acquired. Commit to serving your customers from Day 1 — even when weighing an acquisitionIt doesn't hurt to dream big, but don't start a business with the intention of getting acquired, Hu said. "Starting a company is like getting married, in the type of commitment you're making," she added. "It's very odd to think there's going to be some expiration date." Focus instead on building a company that serves for your customers, Hu recommends. Holding onto your love of the business, its clients, and the problem you're trying to solve will open more opportunities down the road. When weighing an acquisition, choose what's best for the business, Hu said. Entrepreneurs should ask themselves, would a new owner benefit my customers and be strategic for the company? Discussions about CarePort's first acquisition with Allscripts started when Hu heard customers were using both platforms for their care management. Clients asked if it was possible to integrate the systems so they didn't have to upload the same information and documents twice.When Hu started integration discussions with Allscripts, she wasn't considering an acquisition: She was trying to ease a pain point for customers and see if a partnership would be strategic for her business. "I saw that there were so many benefits for our customers in bringing the two products together," Hu said. "Ultimately, it was going to help us win the market." Do your homework on the company that wants to acquire youOnce the possibility of an acquisition is on the table, entrepreneurs should learn what they can about their future partner, Hu said. Start by getting to know the people you'd be working with, what those individuals think of your product, and your strategy, she added. Those factors will be important in the future success of the partnership. Additionally, look into whether the company cultures will jive and if the two teams will work well together, Hu said. "You've got to do that reverse diligence if you're intent on figuring out if this is the right home for your company," she said. "You have to want to work with the people who are buying you." How to determine a fair acquisition priceWhen determining your sale price, consider factors such as demand for your business, how much money you've raised, what your company booked in revenue, and number of customers, Hu said. Those factors will command a certain price. While venture-backed companies may have added pressure to net certain returns, Hu suggests all entrepreneurs consult their board of advisors when establishing a price range. They'll guide you on other elements to consider when striking a price. Prepare for an adjustment period following the deal After the deal is done, brace for a period of ambiguity as the two companies merge and find a new working relationship, Hu said. Prepare your team for that uncertainty and know it's a normal part of the process, she added. "It's a little bit of a leap of faith in terms of whether it's going to work out or not," Hu said. "You have to trust that this is the right thing for the customers and your team."
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Yahoo Is In Talks To Buy A Site We Actually Use, Snip.It
Kevin Smith
Jan. 22, 2013,
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APNews just broke via AllThingsD that Yahoo is poised to acquire startup Snip.It.
Snip.It is a social site that resembles a mash up of Pinterest's collections and Instapaper's ability to save links for consumption later.
AllThingsD reports,
Snip.it was founded by Ramy Adeeb, who was formerly a principal at Khosla Ventures, and has funding from Khosla, True Ventures, Charles River Ventures and SV Angel.
Yahoo is paying “mid teens” of millions of dollars for the company, according to an AllThingsD source.
Here's what my Snip.It profile looks like.Snip.It
Users organize links into collections and followers subscribe to collections based on their interests.
Snip.It has a pretty robust analytics feature baked in too so you can see exactly how many people are digesting the content that you curate.
I've been using Snip.It for some time now as a way to simply remember links that I want to read later.
Mayer's intent to acquire Snip.It falls in line with her plans for the future of Yahoo.
We're not sure what will happen to Snip.It after acquisition but hopefully it won't fade out of existence.
Don't Miss: A Source Met With Marissa Mayer's Acquisitions Team, And This Is What They Said They Want To Buy >
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CONFIRMED: Skype To Acquire Qik For $150 Million
http://www.businessinsider.com/skype-to-acquire-qik-for-100-million-says-reliable-source-2011-1/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Sat, 25 Jun 2016 20:53:26 -0400
Nicholas Carlson and Jay Yarow
http://www.businessinsider.com/c/4d2d4ee44bd7c8d271260000
RedSeed
Wed, 12 Jan 2011 01:49:07 -0500
http://www.businessinsider.com/c/4d2d4ee44bd7c8d271260000
where do you think the DOW will be on Feb. 28, 2011? Tell us by Jan. 12 midnight and win “The Little Book of Sideways Markets.”
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http://www.businessinsider.com/c/4d2d469749e2aeba38080000
Dream Web Services
Wed, 12 Jan 2011 01:13:42 -0500
http://www.businessinsider.com/c/4d2d469749e2aeba38080000
This was something that many speculated for a while. The confirmation only brings closure on what we believed. It will be a good move overall.
http://www.businessinsider.com/c/4d271b534bd7c808042c0000
Randy Barnes
Fri, 07 Jan 2011 08:55:30 -0500
http://www.businessinsider.com/c/4d271b534bd7c808042c0000
I am lovin this news. As a video nut I've been using Qik for over a yr with limited success on my old G1. The combo with skype should bring new abilities for live video that will thrill me senseless.
http://www.businessinsider.com/c/4d26e6194bd7c8b5399e0000
hero queen
Fri, 07 Jan 2011 05:08:25 -0500
http://www.businessinsider.com/c/4d26e6194bd7c8b5399e0000
Android, which exploded in popularity this year.the company's EVP of business and corporate development.This is a reliable source, however, who has been correct about big acquisitions in the past.
Read more: <a href="http://www.guccisale2011.com"> Gucci Sale </a>
http://www.businessinsider.com/c/4d26aff54bd7c80119030000
Josh
Fri, 07 Jan 2011 01:17:24 -0500
http://www.businessinsider.com/c/4d26aff54bd7c80119030000
I have to say, I don't think this was all that great of a deal.
I haven't heard about Qik since its first day.
http://www.businessinsider.com/c/4d261f6049e2ae1c16020000
Geoff Wright
Thu, 06 Jan 2011 15:00:32 -0500
http://www.businessinsider.com/c/4d261f6049e2ae1c16020000
If Skype go public, then Qik have done a good job I suspect.
http://www.businessinsider.com/c/4d2607fbcadcbb7909120000
dug
Thu, 06 Jan 2011 13:20:43 -0500
http://www.businessinsider.com/c/4d2607fbcadcbb7909120000
Talk about a conflict of interest.
Investing in Skype and Qik.
I wonder Andreessen and Horowitz put any pressure on Qik to sell.
http://www.businessinsider.com/c/4d260593ccd1d57d19180000
Hashim Warren
Thu, 06 Jan 2011 13:10:27 -0500
http://www.businessinsider.com/c/4d260593ccd1d57d19180000
Harmon,
Andreessen is the source. Carlson doesn't want to connect too many dots.
http://www.businessinsider.com/c/4d25ffc5ccd1d58318170000
Harmon
Thu, 06 Jan 2011 12:45:41 -0500
http://www.businessinsider.com/c/4d25ffc5ccd1d58318170000
shouldn't you also be disclosing that andreessen is an investor in business insider?
|
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"label": "M&A",
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Dating Startup HowAboutWe Just Acquired Sex Culture Site Nerve.com
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HowAboutWeHowAboutWe co-founders Brian Schecter and Aaron SchildkroutOnline dating service HowAboutWe just acquired Nerve.com, a sex culture site.
You can get a taste of what Nerve.com is all about just by reading some headlines that have appeared on its site:
This Medieval Flowchart Lets You Know When It's Okay to Have Sex
The World's First Male Vibrator Is Here and We're Already Excited
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HowAboutWe's mission has always been to help people fall in love and stay in love, HowAboutWe co-founder Brian Schecter tells Business Insider. As part of that mission, it's launching HowAboutWe Media to focus on all things sex, love and culture.
In addition to Nerve, HowAboutWe Media will also feature content from Swimmingly and Famously, two new sites focused on couples and celebrities, and The Date Report, a site for single people.
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Salesforce Is Buying Workplace Messaging App Slack for $27.7 Billion
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Salesforce is buying workplace messaging app Slack for $27.7 billion in its biggest deal ever
Paayal Zaveri
2020-12-01T21:14:10Z
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Photo by Kimberly White/Getty Images for Fortune
Salesforce is buying the workplace messaging app Slack for $27.7 billion, it announced on Tuesday.
The deal is Salesforce's largest acquisition ever and represents a more aggressive foray into office communication technology at a time when remote work has made chat and collaboration tools more essential than ever.
The acquisition could help Salesforce compete with its longtime rival Microsoft, which has benefited from an explosion in use of its Microsoft Teams app amid the pandemic.
This is the third large acquisition Salesforce has made in the past few years, following Tableau for over $15 billion in 2019 and MuleSoft for $6.5 billion in 2018, as it looks to diversify its product portfolio.
Slack also stands to benefit from the deal, as the company has seen relatively flat growth rates during the pandemic, while other collaboration tools have seen skyrocketing demand and revenue.
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Salesforce is buying the workplace messaging app
Slack
for $27.7 billion, Salesforce announced on Tuesday. It is Salesforce's largest acquisition ever and represents a more aggressive foray into office communication technology for the cloud giant at a time when remote work has made collaboration tools more essential.The deal is a combination of cash and stock, a detail that CNBC first reported on Monday. Slack shareholders will get $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share. Slack's stock was down over 3% on the news, while Salesforce shares went were also down about 3%. Before reports of the deal talks, Slack had a
market cap
of about $17 billion. It was valued at roughly $25 billion when markets closed on Tuesday.The deal could help Salesforce compete with its longtime rival Microsoft, which has benefited from an explosion in use of its Microsoft Teams app amid the pandemic. Analysts say the addition of Slack — itself the chief competitor to Microsoft Teams — will give Salesforce a way to similarly connect all of its various apps and services by way of a collaboration tool, making it more competitive.Microsoft Teams had 115 million daily active users as of October, up from the 75 million it announced in April and its 44 million from mid-March. Slack, meanwhile, hasn't given an updated number for its daily active users since October 2019, when it had 12 million daily active users. Slack did say it had 130,000 paid customers as of its second quarter, up from 100,000 a year ago, with its biggest customers including IBM and ViacomCBS.
"Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it," Salesforce CEO Marc Benioff said in a press release. "This is a match made in heaven. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world.""Salesforce started the cloud revolution, and two decades later, we are still tapping into all the possibilities it offers to transform the way we work. The opportunity we see together is massive," Slack CEO Stewart Butterfield said in a press release. "Personally, I believe this is the most strategic combination in the history of software, and I can't wait to get going."After the deal closes, Slack will become an "operating unit" of Salesforce, with Butterfield remaining as its CEO.The news came almost a week after The Wall Street Journal reported the two companies had recently held discussions about a deal.
It's also one of the largest deals the software industry has seen in recent years. Salesforce's purchase of Slack ranks among mega-acquisitions from its peers: IBM's purchase of Red Hat for $34 billion in 2019 and Microsoft's purchase of LinkedIn for $27 billion in 2016 are two of the largest software deals in recent memory.The acquisition gives Salesforce a robust, well-established workplace communication platform to add to its product suite. Though Salesforce already had its enterprise social network, Chatter, and collaboration product Quip, which it acquired in 2016, neither tool has the same popularity as Slack.The purchase also marks the third major acquisition that Salesforce has made in the past few years in an attempt to diversity its offerings and build out its platform. It bought the data-visualization company Tableau for over $15 billion in 2019 and MuleSoft for $6.5 billion in 2018. And it's working to integrate both into the broader Salesforce ecosystem. Salesforce has also made smaller acquisitions, like the industry-specific software maker Vlocity for $1.3 billion in February.Additionally, the move is in line with Salesforce's strategy of relying on acquisitions to drive its growth as it faces what UBS analysts recently called a "lack of innovation."
The deal also benefits Slack, which has seen relatively flat growth rates during the pandemic, while other collaboration tools like Zoom and DocuSign have seen skyrocketing demand and revenue. Competition with Microsoft Teams could also be putting pressure on Slack, analysts previously said. Salesforce and Slack also already have a partnership that allows users to move more seamlessly between the cloud services. Their headquarters are just blocks apart in downtown San Francisco. The announcement comes as Salesforce reports third quarter earnings that beat Wall Street estimates. It also announced that CFO Mark Hawkins will retire. He will be in his role until January 31, 2021, and then transition to an advisory role through October 2021. Amy Weaver, former chief legal officer, will take over as CFO.Got a tip? Contact this reporter via email at pzaveri@businessinsider.com or Signal at 925-364-4258. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.
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Arm Conflict in China Complicates Acquisition Prospects
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Arm's conflicts in China will complicate Nvidia's reported efforts to buy it from SoftBank
Hirsh Chitkara
2020-08-04T16:17:08Z
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Arm and Arm China are reportedly engaged in a tense corporate governance conflict.And Arm losing control of its joint venture will complicate Nvidia's reported efforts to buy Arm from SoftBank.Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Connectivity & Tech industry with the Connectivity & Tech Briefing. You can learn more about subscribing here.UK-based chip designer Arm appears to no longer be in control of its joint-venture business unit, Arm China. In May, Arm fired Allen Wu, the head of Arm China, but Wu refused to acknowledge the decision and has continued overseeing operations of the business unit, according to Bloomberg.
Arm is no longer in control of Arm China, complicating acquisition prospects.
ARM
Arm China also reportedly won't let members of the UK parent entity onto its premises. Last week, Arm China issued a statement reaffirming its commitment to "empowering the foundation of China's semiconductor industry." Meanwhile Arm has attempted to exude a calm and confident air, telling Nikkei Asian Review: "The Arm China board is working closely with government authorities to peacefully resolve the current issue and ensure Allen Wu is unable to commit further harmful or disruptive actions." The internal strife between Arm and Arm China signals a further bifurcation of semiconductor supply chains, as part of a proxy battle between US-aligned nations and China. Arm controls 49% of Arm China; the remaining 51% of the company is owned by Chinese interests, per Nikkei Asian Review.If it fully cuts ties with its UK counterpart, Arm China could ensure that it maintains the ability to supply semiconductor architecture licenses to China-based companies. The company may perceive this ability to be under threat, considering the US' recent attempts to cut China-based companies off from critical suppliers such as Intel, Advanced Micro Devices (AMD), and Taiwan Semiconductor Manufacturing Company (TSMC). Arm China's IP could be used by the likes of Huawei and Semiconductor Manufacturing International Corporation (SMIC), as China attempts to prop up a self-sufficient semiconductor supply chain. SoftBank is reportedly looking to sell Arm to Nvidia, but the tensions between Arm and Arm China complicate this endeavor. Late last week, Bloomberg reported that Nvidia is now in "advanced talks" to purchase Arm from the beleaguered Japanese investment giant SoftBank. If Arm China is no longer answering to its UK parent company, however, the proprietary value of Arm's IP may depreciate considerably, since there could be two companies independently licensing Arm chip architectures.And even if Arm manages to reach a favorable agreement with Beijing over the conflict with Allen Wu, the continued tensions between the US and China will put any company that acquires Arm in a tenuous position. Nvidia may not be altogether deterred from making an acquisition under these circumstances, but it will certainly bear the conflict in mind as it proceeds in discussions with SoftBank.Want to read more stories like this one? Here's how you can gain access:Join other Insider Intelligence clients who receive this Briefing, along with other Connectivity & Tech forecasts, briefings, charts, and research reports to their inboxes each day. >> Become a ClientExplore related topics more in depth. >> Browse Our CoverageAre you a current Insider Intelligence client? Log in here.
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Department of Justice Not Ready to Sign Off on Google's ITA Acquisition
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Department Of Justice Not Ready To Sign Off On Google's ITA Acquisition
Nick Saint
2010-08-27T19:25:00Z
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The U.S. Department of Justice has issued a second request for information about Google's acquisition of airline search company ITA, the company just announced on its public policy blog.Google announced the acquisition almost two months ago; this second request for information means the regulatory delay still has a ways to go.
Antitrust experts expect the deal to pass muster, ultimately, but perhaps with conditions. Since Google will likely contest any limitations imposed by the DOJ, it could be a while before the deal is closed.But, then, Google is used to that by now.
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Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies - Business Insider
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Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies
Jay Yarow
Sep. 10, 2010, 12:10 PM
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In the last twelve months, Google has acquired (or planned to acquire) twenty-six different companies.
Why is Google going on such a crazy shopping spree? On a basic level, it can afford it, since it has billions in cash. And Google thinks its smart to invest in companies and people to turbo charge the company now for the future.
But, below those superficial reasons there seems to lurk a more vexing problem for Google. It's no longer a sexy growth business, and we've heard that's making it harder for Google to attract the best and the brightest in the industry.
Facebook wrested that mantle away Google. Facebook is growing like a weed, introducing new products, and most importantly pre-IPO, which means big paydays eventually for employees joining today.
Google offered $500,000 to an employee who was leaving for Facebook. He turned it down and joined Facebook anyway. (We've also heard Quora is hiring lots of talent lately. More on that later.)
Which, brings us to Google's acquisitions. It bought some big companies, but mostly it's smaller companies filled with industrious, intelligent, entrepreneurs.
Google used to be able to just hire those people. Today, if it wants them in the Google Plex it has to buy the company they're working on.
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Palantir Acquired Silk, a Dutch Startup That Creates Data Visualisations
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Palantir acquired a Dutch startup that creates data visualisations
James Cook
2016-08-10T15:40:42Z
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Alexander Karp, CEO of Palantir Technologies
REUTERS/Mike Blake
Big data company Palantir has acquired Silk, the Dutch startup that created data visualisations and websites.Silk announced that it had been acquired by Palantir in an email to users sent on Wednesday.
A blog post published on its official site says that the company "realized that we could work on even bigger and more important data problems with an incredibly talented team – even if it meant no longer working on the Silk product."The company was founded in Amsterdam by CEO Salar Al-Khafaji in 2011, and eventually expanded to include a sales team in San Francisco.Customers could use Silk to create basic free data visualisations or more advanced paid ways of presenting data. That's certainly going to be useful to Palantir, which is paid by corporate clients and the US military to sort data and make it more useful.Here's what a Silk data visualisation looked like:
Silk
Here's Silk's full blog post announcing its acquisition:We’re happy to announce today that the Silk team is joining Palantir.Silk started with the goal of helping people get the most out of their data. Over the last few years, we’ve worked relentlessly on a vision to help people structure, query, visualize and share data.We’re proud of the product and community we built, and of all the data journalists,activists, NGOs, businesses and many other kinds of people that were able to find important insights and tell great data stories through Silk.
When we met the Palantir team, we realized that we could work on even bigger and more important data problems with an incredibly talented team – even if it meant no longer working on the Silk product. We decided to join Palantir because we believe we can achieve a larger impact there than we could at Silk alone.What will happen to Silk.co?Silk.co as a platform will continue to operate. Nothing will change to current Silks, and you can still create a new Silk for free. However, because of our new roles at Palantir, Silk.co will operate “as is” and we will not be able to provide technical or customer support to new or existing Silk accounts any longer, nor will we be doing any further development work or adding new features to the hosted Silk.co product.Your data, including the data in your Silks, email addresses, passwords, and any other information will remain confidential and as always, not be shared.
We have immensely enjoyed working on Silk and helping all our users, and are looking forward to the next chapter ahead with our friends and future colleagues at Palantir.Best,The Silk Team
Disclosure: Palantir Technologies CEO Alexander Karp is a member of Axel Springer's shareholder committee. Axel Springer owns Insider Inc, Business Insider's parent company.
Disclosure: Palantir Technologies CEO Alexander Karp is a member of Axel Springer's shareholder committee. Axel Springer owns Insider Inc, Business Insider's parent company.
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Groupon has acquired Blink, a European a
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CHART OF THE DAY: Microsoft Hasn't Acquired Any Companies This Year - Business Insider
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CHART OF THE DAY: Microsoft Hasn't Acquired Any Companies This Year
Jay Yarow and Kamelia Angelova
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What's the easiest job in tech in 2010? Being Microsoft's M&A boss. The software giant has not made a single acquisition this year.
Every other major tech company in the world has acquired at least 3 companies, according to this chart from CB Insights.
This is pretty wild considering Microsoft is loaded with cash, and it's working on a number of new products, especially in mobile and search. It's hard to believe no companies -- large or small -- interested Microsoft enough to open its wallet.
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There Are A Million Education Startups And No One To Acquire Them - Business Insider
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There Are A Million Education Startups And No One To Acquire Them
Alyson Shontell
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CoursekitBetter get profitable, Coursekit boys.One of the hottest startup sectors right now is education.
2Tor, for example, has raised $90 million in venture capital to make credible online degrees for universities. Knewton has raised $54 million to make customized content for students. Even Coursekit, a startup founded by three UPenn students to disrupt Blackboard, has raised $6 million.
We're just scratching the surface here. There's also Skillshare, General Assembly, Khan Academy, Codecademy, Schoology, TutorSpree, ShowMe, Coursera, Chegg, Udemy, and plenty more.
But there's no Google or Facebook in the education space.
So who is going to acquire these startups for hundreds of millions of dollars?
"It's a great question heretofore unanswered," says Hashable founder and angel investor Mike Yavonditte. "[Education startups need to] go public or get profitable."
For a company like 2Tor, profitability is a real possibility. Students are paying 2Tor and its partnering universities the same expensive tuition for an online degree as those paying for the physical campus experience. More than 3,500 students from 30 countries participate in 2Tor's online and mobile degree programs.
But the cost of on-boarding a university isn't cheap -- 2Tor spends about $10 million on every college it works with, perfecting and customizing their programs until they're happy.
For others, the path to profitability is far from clear.
We've compiled a list of potential education acquirers, but most don't have enough cash to write many -- if any -- big checks for startups. Of course cash isn't the only factor -- last year Texas Instruments acquired National Semi for $6.5 billion and it only had $992 million in cash and cash equivalents.
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Gap Shares Are Surging
Matthew Boesler
Jan.
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Image: APIt's a busy morning already for Gap investors. Shares are already up more than 5 percent in pre-market trading.
The company said same store sales rose 5 percent in December from a year ago, alleviating concerns that retail sales were especially weak this Christmas.
Growth figures nearly across the board were favorable compared to last year, per the release:
Gap North America: positive 2 percent versus negative 4 percent last year
Banana Republic North America: positive 1 percent versus negative 2 percent last year
Old Navy North America: positive 13 percent versus negative 4 percent last year
International: negative 6 percent versus negative 6 percent last year
Gap also announced another $1 billion share buyback. This follows the $1 billion buyback the company completed in the fourth quarter of 2012.
Finally, the company announced the acquisition of Intermix – an online high-end women's clothing store – for $130 million in cash.
Below is more on the acquisition as detailed in the press release:
INTERMIX operates 32 boutiques across North America, along with an e-commerce site, offering a mix of luxury brands including up-and-coming designers for customers seeking elevated fashion. Gap Inc. sees an opportunity to expand INTERMIX’s unique network of stores, as well as add significant visibility and enhancements to its online site.
“INTERMIX has a distinctive position in this growing market with clear competitive advantage,” said Glenn Murphy, chairman and CEO of Gap Inc. “Their record of merchandising with a keen eye towards mixing multiple designer labels, complemented with exclusive product, is appealing to their loyal customers. This strategy reflects the strength of their brand vision and leadership team.”
This acquisition extends Gap Inc.’s portfolio of brands, building upon the success of the company’s acquisition of Athleta in 2008 and the multi-brand, premium product offering at Piperlime. With Gap Inc.’s guidance over the past four years, Athleta has grown from its origins as a catalog business to expand through a strong e-commerce platform and brick and mortar presence, with about 35 retail stores opened in the past two years.
On balance, markets like the news.
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Google Acquires Text-To-Speech Startup Phonetic Arts
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Google has acquired synthetic speech startup Phonetic Arts, the company just announced.
Google already has text-to-speech capability built into Google Translate, but admits that the quality leaves much to be desired. Google's announcement hints that the company has much broader plans for text-to-speech in the future, but doesn't go into specifics. But there are plenty of ways good text-to-speech could be useful on mobile devices if it were built in to Android.
Financial details of the acquisition have not been disclosed.
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The number of messages sent via WhatsApp each day has tripled since Facebook bought it four years ago
Prachi Bhardwaj
2018-05-08T21:02:23Z
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When Facebook acquired WhatsApp four years ago, the number of messages being sent via the messaging platform was about a third of what it is today. Judging by this chart from Statista, it isn't slowing down. As of May 2018, about 1.5 billion users are sending 65 billion messages via the WhatsApp mobile app and web client per day, up from one billion a couple of years after the company launched in 2009. That's tremendous growth for WhatsApp, and it makes Facebook look very smart for having spent $19 billion on it in 2014. Given Facebook's massive social network — more than double WhatsApp's 465 million monthly active users at the time, and a messaging app of its own — people weren't sure what an app like WhatsApp could bring to the table.WhatsApp still doesn't bring in ad dollars, but the acquisition did give Facebook the most popular messaging service in the world, meaning users are leaving one-product competitors like Snap and Skype and instead choosing one of the many services operated by Facebook.
Shayanne Gal/Business Insider
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SoftBank Is On The Verge Of Acquiring T-Mobile - Business Insider
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SoftBank Is On The Verge Of Acquiring T-Mobile
Maki Shiraki and Nobuhiro Kubo, Reuters
Dec. 25, 2013,
5:59 AM
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ReutersT-Mobile CEO John Legere — T-Mobile's “uncarrier” strategy was one of the 10 best business decisions in 2013.TOKYO (Reuters) - Japan's SoftBank Corp <9984.T> is in talks to acquire U.S. wireless carrier T-Mobile US Inc <TMUS.N> and is discussing funding for a deal with financial institutions, sources close to the matter said on Wednesday.
SoftBank is looking to have its recently acquired U.S. unit Sprint Corp <S.N> take a majority stake in T-Mobile from the latter's parent Deutsche Telekom AG <DTEGn.DE> in the financial year starting April, one of the sources added.
The deal, which media reports have said would be valued at about $20 billion - in line with the $21.6 billion SoftBank paid for Sprint this summer, would help the Tokyo-based company leapfrog U.S. rivals Verizon <VZ.N> and AT&T Inc <T.N> to become the world's No.2 mobile carrier by revenue.
It would also bring SoftBank CEO Masayoshi Son closer to his ambition of building the world's biggest mobile Internet company - if he can overcome U.S. regulators' expected concerns about competition issues.
"More than the financial and funding aspects, there are likely concerns in the United States about how much Son, head of a foreign company, can really open up mobile infrastructure there, and whether the deal would obstruct healthy competition," a banking source in Tokyo said.
Sprint has been interested in combining with T-Mobile for years and top executives from both companies have said that consolidation was necessary in the U.S. wireless market, as cooperation in infrastructure and equipment orders would create a stronger rival against the two biggest players.
COMPETITION CONCERNS
Both the U.S. Federal Communications Commission, which turned down AT&T's application to acquire T-Mobile in 2011 due to competition concerns, and the Justice Department chiefs have signaled they will take a hard line in scrutinizing consolidation bids.
SoftBank may also face its second bidding war in barely a year with U.S. satellite TV provider Dish Network Corp <DISH.O>, which is also looking at T-Mobile, sources told Reuters last week.
Dish dropped out of the race to acquire Sprint this year after forcing SoftBank to sweeten its offer.
SoftBank is in the final stages of talks with Deutsche Telekom, the Nikkei business daily reported on Wednesday, but sources told Reuters that talks were still in an early stage.
While the German company would prefer a cash deal, SoftBank has considered a stock swap and may have also added a tender offer and other kinds of deals to its options, the Nikkei report said.
Son has met with at least five banks to discuss financing, Bloomberg news reported over the weekend, including Credit Suisse Group AG <CSGN.VX>, Mizuho Bank Ltd, Goldman Sachs Group Inc <GS.N> and Deutsche Bank AG <DBKGn.DE>.
Steering SoftBank through the acquisition would be a test for the finance team, one banking source said, following the death in October of Kazuhiko Kasai, a former banker who was the company's CFO and considered Son's right-hand man.
SoftBank shares dropped 0.5 percent to 8,770 yen on Wednesday, while T-Mobile shares closed up 1 percent at $32.19 on Tuesday.
SoftBank's shares have rallied in recent weeks to their highest since the dot-com bubble burst more than a decade ago, as investors buy into Son's aggressive acquisition and growth strategy. They include hedge fund manager Daniel Loeb, who disclosed last month that he had invested more than $1 billion in the company.
(Additional reporting by Emi Emoto, Taro Fuse and Sophie Knight in Tokyo, Liana B. Baker in New York; Editing by Edmund Klamann and Himani Sarkar)
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What DoorDash's Chowbotics Acquisition Means for the Company's Future
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DoorDash's Chowbotics acquisition is part of its plan for delivery domination — but could pit restaurants against each other in the battle for convenient and fast takeout
Kristen Hawley
2021-02-12T14:00:00Z
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DoorDash announced it'd acquired food robotics company Chowbotics this week.
In 2018, the company was valued at $46 million.
DoorDash is betting on Chowbotics' success to reshape restaurants, focusing on convenience and experience.
Meet Sally the salad robot: She has a 3' by 3' footprint, a touchscreen, room for 22 ingredients, an internal temperature of 38 degrees, and the ability to make eight-ingredient dishes like salads, poke, and grain bowls in 90 seconds.
Sally the salad robot.
Chowbotics
Hundreds of these machines have been installed in hospitals, grocery stores, and college campuses. She even has a LinkedIn profile, though it hasn't been updated to include her newest employer.On Monday, delivery app DoorDash announced it had acquired Chowbotics, the company that produced Sally.Terms of the deal were not disclosed. According to Crunchbase data, Chowbotics had raised just over $20 million. The Wall Street Journal first reported the news, noting the company's 2018 valuation of $46 million. So what does a delivery company want with a salad robot? A lot, it turns out. DoorDash's blog post on the acquisition said Sally can help merchants expand their current menu offerings and into new markets. According to the Wall Street Journal, DoorDash is exploring adding the technology to restaurants. A pizza restaurant could use it to offer salads. A salad restaurant could use it to expand into airports. A convenience store could use it to upgrade its fresh food offerings. It's an interesting move for a company that's eschewed conversation about getting into the restaurant business, instead preferring to focus on the logistics of delivering food and convenience items to consumers. In its relatively quick rise from Palo Alto startup to a publicly traded company worth nearly $70 billion, DoorDash has experimented in the restaurant space.In late 2019, it opened a ghost kitchen facility not far from its company headquarters in northern California.Last year, DoorDash partnered with beloved Bay Area restaurant Burma Superstar to open Burma Bites, a fast-casual spinoff focused on takeout and delivery, its first restaurant investment. Shortly after, the company announced another program to help shuttered restaurants reopen in new locations for delivery.In all cases, the company downplayed the scale of the program, declining to speculate on their potential future growth. DoorDash's November IPO filing didn't call out the specifics of these investments in any meaningful way, either. Parts of DoorDash's IPO filing did offer its vision of the future: "If we are successful in helping local businesses overcome the greatest business model challenge of their time, we believe that physical stores will be transformed and will morph into offering two types of products: convenience and experience," it reads. Chowbotics ticks both boxes. The convenience of a relatively small, autonomous, fresh food-dispensing machine installed literally anywhere with an electrical outlet could change distribution for brands who sign onto the new technology. And what is DoorDash if not a distribution mechanism?Less certain is how customers will feel about a fleet of ubiquitous robots. Each time a robotic restaurant concept has launched — Spyce for salads in Boston, Cafe X for coffee at Bay Area airports, for example — it's enjoyed the relative novelty of its own success.But they're not necessarily long-lasting. Spyce only recently reopened after closing its initial operations in late 2019. Cafe X closed several locations in downtown San Francisco before the pandemic hit. The recent rise of ghost kitchens and customers' reactions to them are another warning signal. Early reports noted customers being surprised (at best) and angered (at worst) when they found the pizza they thought came from a local pizzeria actually came from a Chuck E. Cheese restaurant. Others are surprised to learn the local wing joint they discovered on a delivery app is actually a Chili's.Will restaurants and other businesses disclose that a customer's delivery salad was made by a machine? Will it matter?DoorDash is betting on Chowbotics' proven success. These machines aren't just concepts — they're real and ready to go, offering DoorDash partner businesses an immediate competitive advantage.One potential worry for restaurant operators is whether this would pit businesses against each other: Those who choose to augment their business with robots who can construct a dish in 90 seconds versus those who don't. And all of this is happening against the backdrop of a potential minimum wage increase, setting many small businesses up to take a financial hit. Restaurants' frustrations with DoorDash and its competitors have come to the forefront this year as they turned to delivery to make up for lost business during the pandemic. Some cities stepped in to cap commissions restaurants pay, which can be as high as 30% per order, a move that many restaurants supported but delivery companies have resisted.Sally could also give DoorDash its own competitive advantage. Its closest competitor, Uber Eats, which recently acquired smaller on-demand delivery service Postmates, is working to streamline its business on a promised path to profitability this year. The company is reportedly spinning a Postmates robotics division out of Uber and into its own company, of which Uber will take a 25% stake. DoorDash is rightfully proud of its massive success and has rarely hidden its ambitions. It's still the market leader in the US when it comes to third-party delivery, and it's growing fast. As its Chowbotics announcement notes, "At DoorDash, we strive to become a merchant's first call when they want to grow their business."
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Takeda Acquires Shire for $64 Billion
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Takeda is closing in on buying Adderall maker Shire for $64 billion in pharma's biggest deal of the year
Lydia Ramsey Pflanzer
2018-04-25T07:12:37Z
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Takeda has reached a deal to buy Adderall drugmaker Shire for $64.3 billion. The deal comes after a handful of rejections from Shire and a short-lived potential for a bidding war between Takeda and Botox-maker Allergan. A transaction between Shire and Takeda is the largest pharma deal of the year. Takeda has reached a preliminary agreement to buy Adderall drugmaker Shire for $64 billion in the largest pharma deal of the year. The deal strengthens the Japanese drugmakers' footprint in the US, where Shire has a large presence, and also expands its position in rare diseases like hemophilia. Takeda, a 300-year-old Japanese drugmaker, has been working to expand its global footprint, most recently with its $5.2 billion purchase of US cancer drug maker Ariad Pharmaceuticals last year. Under CEO Christophe Weber, Takeda is looking overseas for growth amid a shrinking domestic population in Japan and patent expirations for several of its key products. Takeda first approached Shire in March, and Shire had rejected four of the company's earlier bids. Takeda's pursuit of Shire heated up further last week when Botox-maker Allergan revealed it was weighing an offer for the company. Takeda's shares dropped as much as 9.3% on the announcement of the deal, the biggest fall in five years.Shire has long been a takeover taket. US drugmaker AbbVie nearly acquired the company in 2014, but the deal collapsed due to changes in US tax law. Takeda's offer values Shire at 49 GBP ($68.51) per share.
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Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies
Jay Yarow
Sep. 10, 2010, 12:10 PM
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In the last twelve months, Google has acquired (or planned to acquire) twenty-six different companies.
Why is Google going on such a crazy shopping spree? On a basic level, it can afford it, since it has billions in cash. And Google thinks its smart to invest in companies and people to turbo charge the company now for the future.
But, below those superficial reasons there seems to lurk a more vexing problem for Google. It's no longer a sexy growth business, and we've heard that's making it harder for Google to attract the best and the brightest in the industry.
Facebook wrested that mantle away Google. Facebook is growing like a weed, introducing new products, and most importantly pre-IPO, which means big paydays eventually for employees joining today.
Google offered $500,000 to an employee who was leaving for Facebook. He turned it down and joined Facebook anyway. (We've also heard Quora is hiring lots of talent lately. More on that later.)
Which, brings us to Google's acquisitions. It bought some big companies, but mostly it's smaller companies filled with industrious, intelligent, entrepreneurs.
Google used to be able to just hire those people. Today, if it wants them in the Google Plex it has to buy the company they're working on.
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Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies
Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies
Google has purchased 26 companies in the past 12 months.
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Buffett, Berkshire Should Cut Apple, Lift Buybacks, Acquire: 7 Experts
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7 experts share their hopes for Warren Buffett's Berkshire Hathaway this year. Cutting back on Apple, boosting buybacks, and landing a big acquisition are on the list.
Theron Mohamed
2021-02-03T10:49:48Z
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Warren Buffett should slash his Apple stake, boost stock buybacks, and hunt for acquisitions, experts say.Berkshire Hathaway was cautious when the pandemic struck, then deployed more than $35 billion later in 2020.Seven experts on Buffett and his company told us what they hope and expect to see this year.Visit Business Insider's homepage for more stories.Warren Buffett's Berkshire Hathaway had a rollercoaster ride of a year in 2020.The famous investor's company owns scores of businesses including Geico, See's Candies, and the BNSF railway, as well as billion-dollar stakes in Apple, Bank of America, Coca-Cola, Kraft Heinz, and other public companies.As a result, Berkshire was hit hard when the COVID-19 pandemic spurred authorities to impose lockdowns, shutter non-essential businesses, and roll out travel restrictions last spring.Buffett initially took cover, selling Berkshire's stakes in the "big four" US airlines and slashing its positions in JPMorgan, Wells Fargo and other financial stocks in the second quarter of last year. The approach surprised many commentators who had expected the investor to deploy a chunk of Berkshire's roughly $130 billion cash pile when markets tanked.However, the Treasury and Federal Reserve moved quickly to pump liquidity into the economy and shore up asset prices, giving Buffett little time to find bargains, or strike the kinds of lucrative deals he made during the financial crisis.Buffett and his team sprung back into action in the third quarter, when they were confident the pandemic didn't pose an existential threat to Berkshire. They announced more than $35 billion of investments in the period, including $18 billion in stock purchases, a record $9 billion in share buybacks, and $10 billion worth of deals.Berkshire will reveal how its operations fared in the fourth quarter, as well as which stocks it bought and sold, later this month. We asked seven experts to share what they're hoping and expecting to see from Buffett, his business partner Charlie Munger, and the rest of the team this year.Several of them called for Berkshire to cash out some of its Apple stock, boost its share buybacks, and make acquisitions at the right price. Here are their thoughts, lightly edited and condensed for clarity:Bill Smead, founder and investment chief of Smead Capital Management:"We expect Buffett and Munger to sit on their hands and wait patiently for this financial euphoria episode to end. When euphoria breaks, it will punish stock prices. Buffett can then pick and choose among meritorious bargains.We expect 60% declines for popular growth stocks, 80% declines for glam revenue growth stories, and total annihilation of concept stocks!"Paul Lountzis, founder and president of Lountzis Asset Management:"We would like Buffett to maintain his discipline through these unique times, as he always has. We would also like him to sell 20% to 25% of his Apple holdings, buy back a minimum of $10 billion to $20 billion of Berkshire shares depending on their price, and pay a special dividend of $10 billion to $20 billion.Apple is a great company, but may not be an attractive stock given current valuation levels. The sale of Apple shares would provide a great deal of money to be used for buybacks and the special dividend. Berkshire would still have an enormous amount of cash, but that is fine with us. We are extremely patient with very long time horizons.I do not recommend Berkshire make any additional technology investments as many are selling for 40 to 100 times revenues and will never grow into their valuations."Darren Pollock, portfolio manager at Cheviot Value Management:"We would not be averse to Buffett and his team reducing Berkshire's stake in Apple. The shares ended the year at more than 30 times next year's earnings, a valuation that is more than 2.5 times higher than its average during the prior decade.Apple is a great business, just very highly priced at this time. We know Buffett regretted not selling at least a portion of Berkshire's giant stake in Coca-Cola in 1998, and today the Apple position is much larger. We'd like to see large, continued share buybacks as long as Berkshire stock remains attractively priced. We think Berkshire can easily buy $20 billion worth of its own shares annually and still add to its cash balance each year. Moreover, large buybacks should not hinder its ability to make acquisitions. This is a company in such strong financial condition that it can have its cake and eat it, too. As Munger likes to say, to be a great investor one needs a combination of great patience and then great gumption to act aggressively when opportunities arise. Over time, Berkshire management has consistently shown both – though more patience than gumption in recent years. We hope to see more gumption, although only when the opportunity makes sense."Adam Mead, founder and CEO of Mead Capital Management, and author of "The Complete Financial History of Berkshire Hathaway":"I expect to see the same broad playbook that's brought Berkshire to this point, which is patient opportunism. Berkshire has no master plan, or strategic plan, which is intentional.I'm confident Buffett and his team will continually weigh all opportunity costs and make the right decisions as they arise. That could mean additional marketable securities if markets are favorable, purchases of whole businesses, or additional share repurchases."James Shanahan, senior equity analyst at Edward Jones:"Many of Berkshire's businesses struggled in 2020. For example, BNSF was challenged by lower shipping volumes. NetJets, Flight Safety, and Precision Castparts were impacted by reduced demand for aviation services. And the insurance segment experienced elevated life and business-interruption claims, as well as lower premiums for workers' compensation and commercial auto insurance.Berkshire is well-positioned to benefit from a broad-based economic recovery in 2021. We are also hopeful that we observe continued cash deployment throughout 2021, at least to keep total cash at or below the $140 billion-to-$145 billion level.Buffett was also building a large position in a public company in the third quarter, and wanted to complete the purchases prior to making its identity public. As a result, it would seem likely that Buffett purchased more of the stock in late October and beyond."Tyler Hardt, portfolio manager at Pelican Bay Capital Management:"My greatest hope this year is that Buffett is able to put his substantial cash pile to work. His swelling checkbook of $140 billion means there are very few major companies that are off limits.Theoretically, between the cash on hand and value of Apple stock, Berkshire could buy a major company like Exxon without issuing a penny of debt. The very thought of that possibility would be mind-boggling just a year or two ago.I would also like to see Buffett and his team consider trimming their holdings in Apple, which has become Berkshire's single largest position, with a recent market value of $137 billion.I applaud Buffett for his acumen to buy Apple shares and the confidence to make it a significant investment. However, Apple is now boasting a price-to-earnings multiple of 44. This seems exuberant, particularly in light of other uses of that capital, such as buying more shares of Berkshire itself."Brian Gongol, veteran shareholder and long-time follower:"The signs point to a consolidation of Berkshire's banking investments. I don't think Buffett has lost his taste for banks, but it's clear he's lost his patience with certain bankers. Further consolidation in banking is inevitable, and Berkshire may be in a position to get in before the mergers start taking stupid turns. In other words: I don't think Buffett is done investing in Bank of America.The Biden administration may pose less political risk to markets, but the more the government spends and borrows, the greater the urgency in putting the Berkshire cash mountain to work. If inflation starts to rear its ugly head, then suddenly a lot of cash-deployment opportunities that looked only OK before start to look more attractive.Sentimentally, I'd love to see Berkshire pull off another transformative acquisition like the BNSF purchase. It's fun — like watching your team make a playoff run. But in light of the market conditions right now, I doubt there are any such opportunities hidden in plain sight.I would be very satisfied if Berkshire took this year's earnings and used them to buy more of the things it already loves, starting with share repurchases. It's not the mouth-watering deal at $230 a share that it was at $180, but it's still far from overpriced.If the company bought another 5% of Kraft Heinz, or inched up its holdings in the Japanese trading houses from 5% to 7.5% or so, or tacked on another couple of regional utilities, that would be a thoroughly satisfactory way of staying the course without holding still."
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LinkedIn Is Perfectly Poised To Make A Huge Acquisition
http://www.businessinsider.com/linkedin-is-perfectly-poised-to-make-a-huge-acquisition-2013-1/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Fri, 06 May 2016 03:47:51 -0400
Megan Rose Dickey
http://www.businessinsider.com/c/510157f0ecad04c610000011
Theo
Thu, 24 Jan 2013 10:49:04 -0500
http://www.businessinsider.com/c/510157f0ecad04c610000011
Another great fit similar to quota would be stackoverflow. Their reputation/points system linked directly into your profile would add a real layer of credibility. It'd let recruiters see "samples" of your approach, validated by your peers. And for job seekers, a way to show what you can do. This double incentive creates a virtuous circle where there's even more reason to visit the site to look for answers.
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Biotech mergers and acquisitions
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We've already got 4 huge biotech mergers this week
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2015-03-30T13:22:00Z
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The week has started with four massive biotech deals. Here's the breakdown:
Horizon Pharma will buy all outstanding shares of Hyperion Therapeutics for $46 per share in cash, or about $1.1 billion. The deal will expand Horizon's portfolio of drugs for a rare metabolic disease, according to a statement.Cellular Dynamics International has agreed to be acquired by Tokyo-based FujiFilm Holdings for $16.50 a share or about $307 million, the companies announced Monday. Cellular Dynamics is "a leading developer and manufacturer of fully functioning human cells in industrial quantities to precise specifications," and had revenues of $16.7 million in the 2014 financial year. It surged by as much as 111% in pre-market trading.Teva Pharmaceuticals will acquire Auspex Pharmaceuticals at $101 per share in cash. "The acquisition of Auspex is a significant step in strengthening Teva’s leadership position in [the Central Nervous System franchise] and advances us into underserved movement disorder markets," the companies said in a statement.And finally, UnitedHealth will combine its pharmacy benefits unit with Catamaran Corp. to form a new competitor in the industry. UnitedHealth will buy out Catamaran for $61.50 per share in cash. After an ugly selloff last week, the iShares Nasdaq Biotechnology ETF is over 1% higher in pre-market trading. On Friday, Citi analysts laid out some compelling arguments for why biotechs are in a bubble, and then concluded that it is not. The industry is in a new era where actual earnings and profits accompany the "hopes and dreams" that their inventions are usually associated with.
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Munich Re Acquires IIoT Startup Relayr
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Munich Re just made a $300 million IoT bet
Mekebeb Tesfaye
2018-09-06T13:21:00Z
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This story was delivered to Business Insider Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.German reinsurance giant Munich Re has agreed to acquire IoT startup relayr in a $300 million deal, pending regulatory approval. relayr, founded in 2013, extracts and analyzes data to help industrial organizations unlock insights to improve efficiency and increase profitability by linking internet connected sensors and edge device platforms with their existing machinery.
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Munich Re plans to acquire the Berlin-based startup through its Hartford Steam Boiler subsidiary, which has been an investor in relayr since 2016, when it participated in the company's Series B round.The acquisition should benefit both parties. The deal will allow Munich Re to further leverage the business potential of the IoT by tapping into relayr’s technological capabilities, as well as offering the reinsurer an opportunity to develop new services and financial applications, according to Greg Barats, HSB’s chief executive and Munich Re’s IoT strategy chief.For relayr, the acquisition will enable it to grow its suite of products and customer base by leveraging Munich Re’s financial capabilities and global network reach. This deal illustrates how links between financial service providers and tech startups continue to be cemented, as incumbents and startups recognize the mutual benefits of strategic partnerships.Munich Re continues to be proactive in its efforts to accrue benefits from new technology. The latest addition to Munich Re Group’s umbrella follows partnerships with insurtech Trov and IoT-based home insurance provider Neos, among others. For Munich Re, these partnerships allow it to offer new technology-driven products and services to insurers, its main customers.However, its expansive network of direct-to-customer partners, like Trov, and growing list of acquired firms, like relayr, should come as a worry for these insurers, as Munich Re is in position to cut them out of traditional insurance value chains entirely. This deal is also illustrative of the fact that, despite traditional resistance to technology, the insurance sector continues to embrace innovation, especially tech-focused collaboration, at pace.
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PayPal Acquires Hyperwallet for $400 Million
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PayPal is acquiring Hyperwallet for $400 million
Rachel Green
2018-06-21T15:02:00Z
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This story was delivered to Business Insider Intelligence "Payments Briefing" subscribers hours before appearing on Business Insider. To be the first to know, please click here.PayPal will acquire Hyperwallet, a global payout provider for digital marketplaces, for $400 million. Hyperwallet distributes funds from marketplace businesses to their sellers, contractors, and suppliers globally. The acquisition will give PayPal merchants access to Hyperwallet’s solution, including multicurrency payment distribution capabilities in more than 200 markets.
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Hyperwallet also provides several disbursement options, including prepaid cards, bank accounts, debit cards, cash pickup, check, and PayPal. The acquisition is expected to close in the fourth quarter of this year.PayPal has been acquiring firms in different payment areas as a means of growth. PayPal acquired Jetlore, an artificial intelligence- (AI) powered prediction platform that uses machine learning to help retailers personalize their customer offerings, which it plans on using to bolster PayPal Marketing Solutions capabilities, its offering that provides retail clients with marketing analytics in addition to payment processing.And the firm acquired Sweden-based mobile point-of-sale (mPOS) firm iZettle for $2.2 billion, which can boost its merchant services segment since iZettle counts 500,000 merchant clients in 12 markets in Europe and South America. Hyperwallet can help PayPal grow in more areas by enabling it to onboard more sellers and increase its total payment volume (TPV). As online marketplaces become more popular, the opportunity for payments players is expanding. Marketplaces are becoming an increasingly valuable space for payments providers to pursue. Marketplaces accounted for more than 50% of global online retail sales in 2017, according to Internet Retailer, cited by PayPal. And these businesses are expected to own nearly 40% of the global online retail market by 2020 — growth that's beneficial for payments players, as the marketplace space provides them with the opportunity to process huge volume of payments by offering convenient options that make disbursements accessible and inexpensive. And by enabling cross-currency payouts, Hyperwallet’s solution could propel marketplace commerce to grow even further, which, in turn, will boost PayPal’s total purchase volume, which reached $132 billion in Q1. This acquisition will allow PayPal to leverage Hyperwallet's existing networks to access thousands of merchants through different marketplaces rather than onboarding individual merchants, which can ultimately increase PayPal's volume. This acquisition could give PayPal a boost as its partnership with eBay winds down. eBay announced earlier this year that it will end its long-term partnership with PayPal and shift to payments technology firm Adyen as its payment processor. Though this initially seemed like it would be a loss for PayPal — eBay’s marketplace processed nearly $84 billion in 2017 — eBay was becoming less important to PayPal, comprising 13% of PayPal’s TPV in Q4 2017, down from 25% in Q4 2015.PayPal will remain the payment option on eBay until 2020, allowing it to retain some of that volume. The partnership was becoming less profitable to PayPal, and was potentially blocking it from pursuing other opportunities. So acquiring Hyperwallet can enable PayPal to remain in the online marketplace space as it continues to popularize and pursue new areas of growth throughout the marketplace ecosystem.
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Yahoo Acquires Propeld, A Small App Shop - Business Insider
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Yahoo Buys Propeld, Its Third Mobile Startup In Four Months
Owen Thomas
Feb. 12, 2013,
1:58 PM
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GeekWireMaria Zhang, CEO, Propeld
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Yahoo has just acquired Propeld, the maker of a local-recommendations app called Alike, according to Alike's website.
TechCrunch, which first reported the deal, speculates that Yahoo will use Alike's technology to pull data from Facebook, Twitter, and Foursquare to recommend nearby businesses.
We're not so sure. That's because a source on Yahoo's M&A team told us last month that the company wanted to buy—in our paraphrase—"small, failed startups with excellent teams for very little money."
So that seems like a backhanded compliment for the Propeld team. More likely, they'll go to work on other Yahoo mobile projects—a typical pattern for such acquire-hire deals.
The statement on the Alike website hints at this:
We’ve always been passionate about the growing power of intelligent mobile experiences. We believe that distilled information, deeply personalized and made accessible anytime and anywhere, is what makes mobile experiences a part of our customers’ daily lives.
In Yahoo we've found a team as excited about this vision as we are, and who are serious about making it real. We're super excited to join Yahoo's mobile team, where we can march toward that vision faster than ever.
The Alike app will shut down.
Propeld is currently based in the Seattle area. GeekWire reports that the team is relocating to Yahoo's headquarters in Sunnyvale, Calif., and its San Francisco office.
On LinkedIn, we found the following team members:
CEO Maria Zhang, a Microsoft veteran
Nan Shi, a software engineer who previously worked at Microsoft and AOL
Chang Luo, a software programmer who's also the developer of a poker-tracker app
Marty Grabijas, whose background is in sales and marketing
Since Marissa Mayer became CEO, Yahoo has made two other acquisitions, Stamped and OnTheAir—both small mobile startups.
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The Most Expensive Tech Acquisitions In History - Business Insider
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The Most Expensive Tech Acquisitions In History
Rebecca Borison
Aug. 27, 2014, 12:59 PM
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ReutersCarly Fiorina (left), chairman and CEO of Hewlett-Packard, with Michael Capellas, chairman and CEO of Compaq.Many people may be astonished when they hear about a startup being acquired for billions of dollars, pointing to a "tech bubble" and questioning the value of these companies. But a couple millions pales in comparison to these massive tech acquisitions.
Granted the acquired companies tend to be a little bigger than the average startup, but these guys sure got a lot of money.
We've rounded up some of the most expensive tech acquisitions of all time to give a glimpse into the massive amount of money being thrown around in the tech industry.
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First Solar Customer in Acquisition Talks
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First Solar Customer In Acquisition Talks
Jay Yarow
2009-06-16T13:46:00Z
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Ecostream, a company that accounts for 6-8% of First Solar's (FSLR) orders, is in ongoing discussions to be purchased by Dutch utility Eneco from its now bankrupt parent company Econcern.Econcern, a holding company with a diverse portfolio of alternative energy projects, entered bankruptcy last Friday. Elroy Bos, a spokesman for the company says it "tried to do too many things at the same time, including several innovations that took a lot of money to bring to market."
In 2008, the company had a negative result, which was "contrary to the condition in our financing agreement of growth in turnover and positive results," Bos tells us. Econcern couldn't find new finances in the middle of the financial crisis. Greentech Media points out, "It's quite a downfall for the 25-year-old company that had built itself into one of the world's largest renewable energy developers, with about 1,200 employees and 2007 profits of €85 million ($121 million)."When Econcern began suspending payments two weeks ago, analysts warned that it would negatively affect First Solar. However, those warnings look overblown now. Talks are ongoing to sell Ecostream, the solar arm of Econcern, Bos says. Econcern has already sold other businesses to Eneco, including Ecofys, a consultancy and Evelop which offers renewable energy and efficiency project development.We're waiting to hear back from First Solar on whether or not they were expecting payment from Ecostream this quarter. However, over the long run, it looks like this bankruptcy won't disrupt First Solar badly, if at all.
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Facebook Acquired a Startup for $6.3 Million
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While Everyone Was Preoccupied With Its S-1, Facebook Quietly Bought A Startup For $6.3 Million
Alyson Shontell
2012-02-02T21:15:00Z
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Yesterday Facebook filed its S-1. One section of the document states all of the acquisitions Facebook has made since mid 2010.One startup was acquired yesterday, while everyone was too busy to notice.
The S-1 states:On February 1, 2012, we issued 212,250 shares of our Class A common stock as partial consideration to two entities in connection with our purchase of certain assets from a company.The S-1 doesn't reveal which startup was acquired, but whoever it was now has about $6.3 million worth of Facebook stock.It may not be the first acquisition Facebook has made in 2012 either. The S-1 also reveals Facebook issued 90,000 shares of Class A common stock on January 3, 2012 to another unknown acquired company. Those shares, which are worth about $2.7 million, went to "four individuals and 13 entities in connection with our purchase of certain assets from a company.”
It's possible the January 3 shares went to Gowalla, which was acquired for about $3 million worth of Facebook stock in December.
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Yahoo Acquires Startup Distill To Nab 7 Mobile Tech Employees
http://www.businessinsider.com/yahoo-acquires-shuts-down-startup-distill-2014-2/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Wed, 10 Feb 2016 02:10:57 -0500
Julie Bort
http://www.businessinsider.com/c/52fdb6df6bb3f7833d1a577f
six one way half a dozen another
Fri, 14 Feb 2014 01:25:35 -0500
http://www.businessinsider.com/c/52fdb6df6bb3f7833d1a577f
So the potential of an app to help many businesses gets dumped so that one can steal its talent and help its own business, namely creating another way to shove their mobile ads down our throats. Any chance they could help create some better content for Yahoo while they are at it? I gave it up long ago (except for the email).
http://www.businessinsider.com/c/52fd79216da811e76f34d2da
yhyangtao
Thu, 13 Feb 2014 21:02:09 -0500
http://www.businessinsider.com/c/52fd79216da811e76f34d2da
雅虎是冲着团队去的，Distill的团队都是Tapjoy出来的。
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"label": "M&A",
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Trump Blocks Qualcomm/Broadcom Acquisition
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Trump blocks $117 billion Broadcom takeover of Qualcomm on national security grounds
Becky Peterson
2018-03-12T22:52:40Z
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President Donald Trump issued an executive order Monday blocking Broadcom's takeover of Qualcomm.Trump said there was "credible evidence" that Broadcom "might take action that threatens to impair the national security of the United States."Broadcom is incorporated in Singapore, and Qualcomm is based in San Diego.President Donald Trump on Monday blocked a Singapore-based company's plans to acquire the US chipmaker Qualcomm for $117 billion, citing national security concerns. The order effectively squelches what would have been the largest technology acquisition of all time.US presidents have rarely taken such measures, and the executive order highlights growing economic tensions between the US and the rest of the world as Trump pursues protectionist policies. And it underscores the country's growing fears of cyberwar and espionage from foreign powers.Broadcom, a chipmaker incorporated in Singapore, was looking to take over Qualcomm, its San Diego-based rival. The deal was under scrutiny by a national security panel called the Committee on Foreign Investment in the United States, which advises Trump."While Broadcom could look to challenge this move in theory, the Trump edict essentially kills any chances of this deal happening," the GBH Insights analyst Dan Ives wrote in a note to clients on Monday.CFIUS was concerned with what has been described as a hostile takeover of Qualcomm, which Broadcom has pursued repeatedly.This time, Broadcom claimed power with an attempt to take over Qualcomm's 11-member board with six of its own nominees. That drama was set to come to a head at a Qualcomm shareholder meeting in March — a meeting that was delayed by 30 days, to April 5, at the request of CFIUS.That meeting has since been rescheduled again to March 23 in response to Trump's executive order. Broadcom attempted to assuage the panel's concerns by agreeing to move its headquarters to the US from Singapore. On Monday, before Trump's order, Broadcom announced that it would redomicile to the US by April 3. The plan to redomicile was first made public in November, according to Broadcom's statement.On Monday evening, Broadcom issued a statement that said it is reviewing Trump's order."Broadcom strongly disagrees that its proposed acquisition of Qualcomm raises any national security concerns," it said in the statement. Broadcom lowered offer when Qualcomm tried to stop a takeoverThough Broadcom gave up some ground to CFIUS, it played hardball with Qualcomm. The company lowered its offer to $117 from $121 billion at the end of February as a way of penalizing Qualcomm board members who attempted to prevent an acquisition with what's known as a "poison pill" approach, according to Business Insider's Julie Bort.
President Donald Trump with Broadcom CEO Hock Tan, who in November was announcing the repatriation of his company's headquarters to the US from Singapore.
Martin H. Simon/Getty Images
Qualcomm is acquiring a rival chipmaker called NXP. The deal is awaiting regulatory approval in China and would fall apart only in the unlikely event that not enough shareholders wanted to sell. To secure shareholder support, Qualcomm increased its offer to NXP, making the deal more likely to pass.Broadcom believes Qualcomm is overpaying for NXP and lowered its price to penalize the board and convince shareholders that it was willing to walk away from its offer to acquire Qualcomm. Qualcomm's board, however, wants Broadcom to walk away so it can stay an independent company.But all that is incidental, thanks to the intercession of Trump. For all intents and purposes, the deal is now dead."The clear ramifications from tonight's move are negative for Qualcomm as with M&A prospects off the table for the now the stock could tread water in the $60 range until the company can show on a standalone basis this fundamental recovery story can play out in 2018 and beyond," Ives of GBH Insights wrote in the note.Qualcomm shares were down 4.3% in after-hours trading on Monday; Broadcom shares were up roughly 0.5%.The Trump administration has previously blocked China-related deals, including the sale of Lattice Semiconductor to an investment group and the acquisition of MoneyGram by an Alibaba-affiliated company.Here's the full text of President Trump's executive orderTHE WHITE HOUSEOffice of the Press SecretaryFOR IMMEDIATE RELEASEMarch 12, 2018Upon review of a recommendation from the Committee on Foreign Investment in the United States and consideration, as appropriate, of the factors set forth in the Defense Production Act of 1950, as amended, the President has made relevant findings and issued the following Order:ORDER- - - - - - -REGARDING THE PROPOSED TAKEOVER OF QUALCOMM INCORPORATED BY BROADCOM LIMITEDBy the authority vested in me as President by the Constitution and the laws of the United States of America, including section 721 of the Defense Production Act of 1950, as amended (section 721), 50 U.S.C. 4565, it is hereby ordered as follows:Section 1. Findings. (a) There is credible evidence that leads me to believe that Broadcom Limited, a limited company organized under the laws of Singapore (Broadcom), along with its partners, subsidiaries, or affiliates, including Broadcom Corporation, a California corporation, and Broadcom Cayman L.P., a Cayman Islands limited partnership, and their partners, subsidiaries, or affiliates (together, the Purchaser), through exercising control of Qualcomm Incorporated (Qualcomm), a Delaware corporation, might take action that threatens to impair the national security of the United States; and(b) Provisions of law, other than section 721 and the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), do not, in my judgment, provide adequate and appropriate authority for me to protect the national security in this matter.Sec. 2. Actions Ordered and Authorized. On the basis of the findings set forth in section 1 of this order, considering the factors described in subsection 721(f) of the Defense Production Act of 1950, as appropriate, and pursuant to my authority under applicable law, including section 721, I hereby order that:(a) The proposed takeover of Qualcomm by the Purchaser is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited.(b) All 15 individuals listed as potential candidates on the Form of Blue Proxy Card filed by Broadcom and Broadcom Corporation with the Securities and Exchange Commission on February 20, 2018 (together, the Candidates), are hereby disqualified from standing for election as directors of Qualcomm. Qualcomm is prohibited from accepting the nomination of or votes for any of the Candidates.(c) The Purchaser shall uphold its proxy commitments to those Qualcomm stockholders who have returned their final proxies to the Purchaser, to the extent consistent with this order.(d) Qualcomm shall hold its annual stockholder meeting no later than 10 days following the written notice of the meeting provided to stockholders under Delaware General Corporation Law, Title 8, Chapter 1, Subchapter VII, section 222(b), and that notice shall be provided as soon as possible.(e) The Purchaser and Qualcomm shall immediately and permanently abandon the proposed takeover. Immediately upon completion of all steps necessary to terminate the proposed takeover of Qualcomm, the Purchaser and Qualcomm shall certify in writing to the Committee on Foreign Investment in the United States (CFIUS) that such termination has been effected in accordance with this order and that all steps necessary to fully and permanently abandon the proposed takeover of Qualcomm have been completed.(f) From the date of this order until the Purchaser and Qualcomm provide a certification of termination of the proposed takeover to CFIUS pursuant to subsection (e) of this section, the Purchaser and Qualcomm shall certify to CFIUS on a weekly basis that they are in compliance with this order and include a description of efforts to fully and permanently abandon the proposed takeover of Qualcomm and a timeline for projected completion of remaining actions.(g) Any transaction or other device entered into or employed for the purpose of, or with the effect of, avoiding or circumventing this order is prohibited.(h) If any provision of this order, or the application of any provision to any person or circumstances, is held to be invalid, the remainder of this order and the application of its other provisions to any other persons or circumstances shall not be affected thereby. If any provision of this order, or the application of any provision to any person or circumstances, is held to be invalid because of the lack of certain procedural requirements, the relevant executive branch officials shall implement those procedural requirements.(i) This order supersedes the Interim Order issued by CFIUS on March 4, 2018.(j) The Attorney General is authorized to take any steps necessary to enforce this order.Sec. 3. Reservation. I hereby reserve my authority to issue further orders with respect to the Purchaser and Qualcomm as shall in my judgment be necessary to protect the national security of the United States.Sec. 4. Publication and Transmittal. (a) This order shall be published in theFederal Register.(b) I hereby direct the Secretary of the Treasury to transmit a copy of this order to Qualcomm and Broadcom. DONALD J. TRUMP THE WHITE HOUSE,March 12, 2018.
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Facebook May Acquire Face.com For As Much As $100 Million [REPORT] - Business Insider
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Facebook Is Looking To Acquire Face.com For As Much As $100 Million [REPORT]
Seth Fiegerman
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Facebook is changing its internal Trending Topics guidelines after report alleges political bias
Facebook is rumored to be in talks to acquire the Israeli facial recognition startup Face.com for upwards of $100 million, according to two new reports.
Calcalist, an Israeli publication, reports hearing that Facebook is looking to buy the company for "tens of millions of dollars." Meanwhile, Newsgeek, another Israeli publication, says it heard the figure could be as much as $100 million.
TheNextWeb notes that Facebook is rumored to have tried to acquire Face.com multiple times in the past, but the talks usually failed because Facebook wasn't willing to pay enough money. Perhaps $100 million will change that.
Face.com's facial recognition technology has the potential to improve Facebook's photo-tagging services, not to mention the fact that it's a great domain name for Facebook to own.
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Facebook Is Looking To Acquire Face.com For As Much As $100 Million [REPORT]
Facebook Is Looking To Acquire Face.com For As Much As $100 Million [REPORT]
A big investment in facial recognition services.
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