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Business, Financial & Legal Posts - Page 92

Hulu won't be sold and will instead invest $750 million to 'propel future growth'

Last minute bids to purchase Hulu were to be locked in on July 5, but it looks like 21st Century Fox, NBCUniversal and The Walt Disney Company will maintain ownership of the video streaming service.

 

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Hulu were considering a sale, receiving last minute bids from multiple different companies, but the owners are now looking to invest heavily into Hulu. That investment is looking to total $750 million, which is an effort to "propel future growth." Hulu have a lot riding on this, as they push out content to over 400 partners and over 30 million monthly visitors.

 

Even with over four million premium 'Hulu Plus' subscribers, they're still struggling against Netflix and Amazon. This new investment could be a seed that could grow into an even better company, which would be great for everyone involved, especially consumers.

Amazon reach record highs on share prices, are valued at $140 billion right now

Amazon, for the first time in the company's history, has had their shares trade at over $300 last week. Amazon went public in 1997, where their shares were trading at just $2, so this is quite the rise.

 

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On Friday, Amazon shares closed at a record $307 per share. With the current stock price in mind, Amazon's market capitalization stands at $140 billion. Talking market caps, Google scoop up $306 billion with their power, and Apple enjoy a nice chunk of $400 billion. Amazon are far out and away from Facebook, though, who have just $63 billion.

 

During the first three months of 2013, Amazon reported net sales of $16.07 billion, which represents a 22% increase for the same quarter of 2012. Net income fell however, to $82 million, down 37%.

Valve announces 'Pipeline', will help high school students break into the video game industry

Valve have just announced and launched Pipeline, which is a community website dedicated to helping high school students who are looking into a career in the video game industry.

 

 

Pipeline was the creation of a group of high school interns working at Valve, who hope to "establish a connection to the world of teenagers that are asking many questions about getting into the gaming industry." Valve's managing director, Gabe Newell, said in a promotional video for Pipeline: "This website was created entirely be teenagers."

Continue reading 'Valve announces 'Pipeline', will help high school students break into the video game industry' (full post)

Amazon CEO Jeff Bezos to open Center for Innovation this fall to inspire young entrepreneurs

When you're one of the world's richest e-commerce tycoons, there's not much left to do other than fund other projects. Amazon CEO Jeff Bezos has funded everything from nuclear fusion startups to commercial spaceflight ventures and everything in between. Today, we are learning that his next big venture is a center for innovation built at the Museum of History and Industry.

 

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After more than two years of development and $10 million from Bezos' own pockets, the Museum of History and Industry will open the doors to the Bezos Center for Innovation on October 12. The center aims to help visitors learn about the importance of innovation through many interactive exhibits. It will also showcase Seattle for being the birthplace of so many trailblazing companies such as Amazon. I feel that this Innovation Center is an amazing idea and a perfect way to teach children that bucking convention is sometimes the right thing to do.

Two more high-level executives exit from BlackBerry, could this be the beginning of the end

Today, we're getting reports that BlackBerry has lost two more high-level executives in the last few weeks. According to a recent report, T.A. McCann, BlackBerry's vice president of social networking, is said to have left the company two weeks ago, while the senior director of handheld applications, Marc Gingras, apparently left the company around the same time.

 

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The Wall Street Journal says that McCann was responsible for BlackBerry Messenger as well as all social networking applications on the BlackBerry's OS. He first came to the company through its acquisition of the contact management services company Gist back in 2011. Gingras was also the product of an acquisition in 2011 when BlackBerry scooped up the social calendar company Tungle.me.

 

News of these two executives leaving the company comes hot on the heels of yesterday's report that BlackBerry would lay off several thousand employees before the year's end. All of this is the direct effect of underwhelming sales from what can only be described as a failed launch of the new BlackBerry 10 devices.

Lenovo claims throne as largest PC manufacturer in the world

In the wake of turmoil at Hewlett-Packard, it appears that Lenovo has seized the opportunity to claim the throne as the largest PC manufacturer in the world. This claim comes as the latest numbers from the IDC and Gartner are released to the public. It appears Lenovo has managed a 1.7 percent gain in market share in the global PC market over the last year.

 

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While the margins are small, Lenovo managed to ship a little over 200,000 more units than HP's 12.4 million units shipped during the Q2 time period of 2013. Lenovo is sitting at 16.7 percent of global market share, while HP is floundering at around 16.3 percent. The once king of the world, Dell, is roughly four million units behind both companies with a market share of just 11.8 percent.

 

Up and comer Acer shipped roughly half the number of units that Lenovo did in Q2 and holds on to about 8.3 percent of the global sales market. Also notable is ASUS who shipped about 4.5 million units during Q2 and held onto a 6 percent market share.

Continue reading 'Lenovo claims throne as largest PC manufacturer in the world' (full post)

BlackBerry fires chief of US Sales, plans another round of massive layoffs

The days for BlackBerry just keep getting darker and darker as sales and revenue continue to slump for the once king of smartphones. Today, the Wall Street Journal reported that BlackBerry had fired its vice president of US sales, Richard Piasentin, late last month and said that more layoffs are coming across middle management in the sales and support divisions.

 

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This news comes shortly after CEO Thorsten Heins wooed shareholders at a meeting on Thursday which resulted in BlackBerry shares rising 3 percent just hours after the meeting was over. This new report of layoffs will stack on top of the 5000 BlackBerry workers let go during the previous fiscal year of 2012.

DirecTV and Time Warner Cable both place last minute bids for Hulu on July 5 deadline

July 5 was the deadline for all bidding proposals to buy the content streaming service Hulu. The date was set by the Board of Directors after bids were received from everyone including Yahoo, AT&T and the Chernin Group in recent weeks. Today, we found out that both DirecTV and Time Warner Cable also submitted their bids before the deadline was up.

 

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DirecTV apparently placed a bid to acquire the company as a whole, while Time Warner Cable reportedly offered up a proposal to become an investor alongside the service's current owners: Walt Disney Co., 21st Century Fox Inc., and Comcast.

 

No word on how much each bid was for, but with Yahoo's bid around $1.1 billion, we can assume that similar offers were in the same ballpark. It looks like Hulu will get purchased by someone, and let's all hope that the service actually improves over the current state it is in.

Microsoft wanted to buy Zynga before Xbox chief jumped ship

By now everyone on the planet has heard about Don Mattrick, the former Xbox chief at Microsoft, leaving the company to head up Zynga. A new report from Bloomberg is claiming that back in 2010, the then Xbox Executive tried to purchase Zynga when it was at the top of its game.

 

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The report claims that back in 2010, Mattrick held negotiations with then Zynga CEO and founder Mark Pincus about Microsoft acquiring the company or even purchasing major titles like Farmville. The negotiations clearly fell through and here we are three years later with Mattrick now heading up the company he once tried to buy.

 

It's rumored that Mattrick left Microsoft because of the massive restructuring that is underway which will consolidate several departments into one, such as Windows Phone and Windows merging into a single entity. Microsoft CEO Steve Ballmer has now taken over full control of the Xbox division and rumors are forming that point to that being a permanent thing.

Sony trademarks "Playstation TV" brand, looks to take on Apple and Microsoft

It's no secret that Apple and Microsoft both want to become king of the content delivery world. With Apple pushing Apple TV and Microsoft building its next-gen console, the Xbox One, around the home theatre experience, it is very clear that the next few years will be all about who can capitalize on this new and emerging market.

 

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This morning, it appears that Sony has plans to toss its own hat into the content delivery market with its upcoming Playstation 4. We are learning that Sony has officially re-trademarked a new brand named "Playstation TV." This could mean that the PS4 will have similar functionality to the Xbox One or it could mean that Sony is just scooping up anything related to its IP in the event that it wants to head down that road in the future.

 

Additionally, this trademark is nothing new as Sony has actually held it since 2006, but let it expire earlier this year. Whether or not the lapse in ownership was intentional is still up in the air, but we are sure that Sony is planning something along the lines of content delivery.

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