The $500 million offered was in an all-stock form, said sources on both sides, at the $15 billion valuation that came from the Microsoft investment in the company last October.
The Twitter side felt that figure was inflated and the shares should be valued at the lower figures that have also been reported for Facebook’s true valuation, more in the $5 billion range.
That would have given the deal a $150 million price tag, which was seen as too low, especially since it was in Facebook stock and not cash.
In fact, Twitter wanted cash,...
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Yahoo CEO Jerry Yang will step down from his job as CEO, said sources close to the company, as soon as the board finds a replacement for him, in what sources close to the situation call a joint decision by him and the company’s directors.
Yahoo (YHOO) will announce the move within the next hour.
But, in a memo to Yahoo’s employees, obtained by BoomTown, Yang confirms the pending departure and writes: “…we believe the time is now right to transition to a new ceo who can take the company to the next level.”
Yahoo has hired...
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After nearly a year spent seeking alternatives to Microsoft Corp's buyout offer, Yahoo Inc's Chief Executive Jerry Yang said he believes a deal between the two is still the best option for the beleaguered Internet company.
Speaking at the Web 2.0 Summit hours after archrival Google Inc ditched its search advertising partnership with Yahoo, Yang said he remains open to selling the Internet company to Microsoft, but at the right price.
"People who know me know I don't have an ego about remaining independent versus not remaining...
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Having spent billions constructing a data center network over the last couple of years, Microsoft this morning launched, in limited "preview" form, Windows Azure, its platform for cloud computing. The announcement was made by Microsoft's top software executive, Ray Ozzie, in a speech at the company's Professional Developers Conference in Los Angeles.
Microsoft will use the Azure platform to run its own web applications and will also open the platform to outside developers for building and running their own apps. Azure will compete with...
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Following yesterday's earnings announcement (below), Yahoo co-founder and chief executive Jerry Yang sent staff a memo. It announces the aim to cut costs, with Yang saying: "because compensation expenses are the single largest part of our costs, we anticipate a reduction of at least 10% of our global workforce by year-end."
affected employees will be notified of layoffs in the next several weeks. we understand that hearing this news now creates uncertainty, but we are moving ahead in a way that balances speed with a clear focus on...
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Posted by
Kevom 1 month 26 days ago
EBay on Monday revamped its corporate portfolio laying off 1,000 workers, or 10 percent of its workforce, and buying online payment company Bill Me Later as well as a Denmark classifieds company.
The company is acquiring the U.S.-based online payments business Bill Me Later for approximately $820 million in cash and approximately $125 million in outstanding options. In classifieds, the company has acquired Denmark’s leading online classifieds site dba.dk and vehicles site bilbasen.dk for approximately $390 million in cash.
“We are...
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GeoEye Inc said it successfully launched into space on Saturday its new GeoEye-1 satellite, which will provide the U.S. government, Google Earth users and others the highest-resolution commercial color satellite imagery on the market.
"It was a picture-perfect launch and we've now gotten confirmation that ... we have commanded the satellite and it has responded," GeoEye Chief Executive Matthew O'Connell told Reuters in a telephone interview from Vandenberg Air Force Base in California, where the satellite was launched at 11:50 a.m....
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It’s official the search war just turned into the Web 2.0 operating system war.
This browser is a direct maneuver to block Microsoft IE8 (and other msft moves) from cutting off Google’s ‘hooks’ in search and desktop environments. People (like me) who have been following Google since their inception know that they have infested the desktop with little ‘hooks’ into search which translated into adwords and adsense - e.g. toolbar, tracking, and other services. These little hooks provide the superior user experience in navigation...
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Twitter's business model is starting to show. An early sign came in April, when the popular microblogging service launched in Japan and the home page for every Japanese user included a big banner ad in the top right corner.
Then, on Aug. 7, Twitter made another change, this time in the U.S., by limiting the number of people a single user could connect with, or "follow," to about 2,000. Most recently, on Aug. 14, Twitter made the biggest move yet to slash costs. It killed outbound message delivery to mobile phones via short message, or SMS,...
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Google is working on plans to start a venture-capital arm, according to several people briefed on the discussions.
The group will be lead by David Drummond, Google's senior vice president of corporate development and chief legal officer, according to two of these people. Google has hired William Maris, a 33-year-old former entrepreneur who has worked as an investor, to help set up the venture. How the group will be structured and what sort of investments it is likely to target remain unclear.
The move would make Google the latest...
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