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Business, Financial & Legal Posts - Page 12

Ouya is in trouble, with reports the company is wanting a quick sale

Ouya's fall from grace is happening very fast, with company CEO Julie Uhrman sending out a (confidential) e-mail to investors and advisors, something that Fortune got its hands on, saying the company is trying to build up interest to sell the company as soon as possible.

 

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In her e-mail to investors and advisors, Uhrman reportedly said that her primary focus is trying to secure as much of the investor capital as possible. Uhrman has reiterated her stance on Ouya, standing by her Android-powered game console, saying that the company has built something very real, and valuable. She continued, saying that she still reads tweets and e-mails from Ouya fans that use their consoles each day.

 

But, it's obviously not enough for the company to survive. We should expect to see Ouya be acquired in the coming weeks.

GoPro acquires Kolor, a French company specializing in videos for VR

Continuing its world domination on all things action cameras, GoPro has announced that it has acquired Kolor. Kolor is a company out of France that is a leader in making videos for virtual reality and 360-degree viewers.

 

 

GoPro is hoping to find new ways for "capturing, creating and sharing" 360-degree video, with the the company using the video above to showcase what multiple cameras can do for video content. With GoPro revenue surging 54% year-over-year to $363 million, and profits or doubling to $16.8 million, it shouldn't come as a surprise GoPro to be moving into VR.

Continue reading 'GoPro acquires Kolor, a French company specializing in videos for VR' (full post)

Oculus secures 'one of the top display innovators' from Google

We still don't know if Oculus VR will be releasing the Oculus Rift this year, but the Facebook owned VR giant has just announced it has secured two very important people to join its growing team.

 

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Mary Lou Jepsen, who is "one of the top display innovators in the world" has joined the Oculus team along with Anna Sweet from Valve. Jepsen has been honored as "one of the 100 most influential people in the world in Time Magazine, is the Pixel Qi founder, as well as as co-founder and former chief technology officer of non-profit One Laptop Per Child" reports Polygon. Before she joined the Oculus team, she was the heads of the display division of Google X, one of the most secretive parts of Google.

 

Under her new position at Oculus, Jepsen will be "developing displays that will make it possible to push the boundaries of virtual reality technology". In a statement, Jepsen said: "Virtual reality has been seen as a niche product for the wealthy. Like One Laptop Per Child's vision of computers for the poorest children, we imagine VR as an enabling technology, a platform for mass adoption, for women and men, adults and children, rich and poor, everywhere".

Continue reading 'Oculus secures 'one of the top display innovators' from Google' (full post)

Jay-Z says his Tidal streaming music service is 'just fine'

Shawn Carter, known as Jay-Z, has taken to Twitter to defend his $56 million investment in the Tidal streaming music service. The company, which charges $9.99 or $19.99 per month for two different subscription packages, must compete with Spotify, Pandora, Rdio, and more established competitors - and Jay-Z thinks competitors could be engaged in a smear campaign.

 

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Using the hashtag #TidalFacts, Carter was quick to point out that Tidal provides a better payment system for artists, and needs time to mature.

 

Jay-Z also described how Tidal pays musicians:

 

Continue reading 'Jay-Z says his Tidal streaming music service is 'just fine'' (full post)

Sources: Time Warner Cable willing to discuss acquisition by Charter

Federal regulators weren't happy about a Comcast acquisition of Time Warner Cable, but it looks like Charter Communications wants a second crack at TWC. Charter failed during its first attempt to take over TWC, which opened the door for Comcast to step in and try to acquire the company.

 

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Since the first merger attempt, however, Charter's stock value has increased - and would be more lucrative to TWC - but TWC "also is open to deals with companies other than Charter."

 

It's unknown if Charter will try to surpass its original $37.3 billion offer for TWC, which was topped by Comcast offering $45 billion. It's possible the company, assuming no outsiders are interested, could try to lowball TWC into a merger.

Apple's post-holiday quarter saw 61 million iPhones sold

Apple has reported its post-holiday quarter results, where we have seen the company pull in $58 billion in revenue, with a net profit of $13.6 billion. These numbers beat Wall Street expectations, with analysts begging Apple to report somewhere in between $52 billion and $55 billion in revenue.

 

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During the same quarter of 2014, Apple made $45.6 billion in revenue with $10.2 billion in profits. So we can see a decent improvement year-over-year, with nearly an extra $13 billion in revenue and 30% increase in profits.

 

We know that Apple sold a huge 61.2 million iPhones during the quarter, which is the second highest number of iPhones sold in a single quarter to date. But, while iPhone sales continue to grow, iPad sales are dwindling. Apple sold just 12.6 million iPads during the three-month period, down from 16.4 million in the same quarter of 2014. Mac sales were also strong, with 4.6 million units being sold, up from the 4.1 million in the same quarter of last year.

Continue reading 'Apple's post-holiday quarter saw 61 million iPhones sold' (full post)

Best Buy warms up to Apple Pay, even with allegiance to CurrentC

Apple CEO Tim Cook said Best Buy will begin accepting Apple Pay mobile payments later this year, including as a payment method for apps.

 

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This is a major victory for Apple, as Best Buy is a partner of the Merchant Customer Exchange (MCX), which is developing its own CurrentC mobile payment ecosystem. Best Buy reportedly has an exclusivity agreement signed with MCX, and that's why Apple Pay can't go live until the fall.

 

"We understand - and strongly support - our merchant partners' quest to do what's best for their customers," said Scott Rankin, COO at MCX, in a statement published by the New York Times. "As we have stated in [the] past, we are of the firm belief that there need to be at least 2-3 major players within the mobile payments ecosystem for it to succeed."

Continue reading 'Best Buy warms up to Apple Pay, even with allegiance to CurrentC' (full post)

AOL CEO: AOL-Yahoo merger just a 'dead notion' at this point

AOL and Yahoo will not merge together despite financial industry rumors, and the former ISP giant is focusing on developing niche business units. An AOL-Yahoo merger has been rumored for years, but investors from both companies said it's not worth the trouble of bringing up a possible merger until it's seriously brought to the table.

 

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"We have to really make a decision whether we want to take a step back, and go back and think about doing something like [a merger], versus, do we focus on growth?" said Tim Armstrong, chairman and CEO of AOL, in a statement to CNBC.

 

Instead of worrying about a merger, AOL will seriously consider acquisitions that help its supply business, customer data, and video and automated ads. "You should assume we're going to do everything we possibly can to move those three things forward."

Continue reading 'AOL CEO: AOL-Yahoo merger just a 'dead notion' at this point' (full post)

Looks like Charter wants another go at acquiring Time Warner Cable

Last week, Comcast dropped its effort to take over Time Warner Cable, as antitrust regulators and business watchdog groups showed their displeasure with the takeover attempt.

 

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"Today, we move on," said Brian Roberts, chairman and CEO of Comcast, following news of Comcast's decision to leave behind TWC. "Of course, we would have liked to bring our great products to new cities, but we structured this deal so that if the government didn't agree, we could walk away."

 

However, it looks like Charter Communications, the No. 4 largest cable company in the United States, is considering another effort to acquire TWC. Prior to Comcast's effort to purchase TWC last year for almost $159 per share, Charter offered $130 and $132 per share for TWC - which the company rejected.

Continue reading 'Looks like Charter wants another go at acquiring Time Warner Cable' (full post)

UberX gets unbanned from Portland, now with a new $1 Safe Rides Fee

It wasn't long ago that Uber was banned in Portland, but the US city has just unbanend the ridesharing company's operations, after months of talks between civic and community leaders.

 

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Uber has now relaunched in Portland with a "safer and more reliable" version of its UberX in Rose City, with the new agreement seeing Uber drivers having to pass background and driving history checks. Their cars must also pass a vehicle safety inspection which needs to be done by a certified mechanic.

 

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Each UberX fare will also feature a $1 Safe Rides Fee, which you can see in the table above.

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