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Facebook started as the new guy in the social networking scene a few years ago when MySpace was dominating the market in the US. Facebook had more cool to it than MySpace though and users started flocking to Facebook and away from MySpace. Today MySpace is nearly at an end.
While MySpace sinks, Facebook is riding the tide of success to new heights all the time. The latest round of financing for Facebook has happened over the last month or so. The interesting part to me is that Facebook didn't seek more money; Goldman Sacs approached Facebook with an offer for investing in the company.
Over the last several weeks, Facebook has taken in $500 million of new investment and an additional $1 billion in new investment from overseas. Facebook could have taken as much as $1.5 billion from the overseas investors and actually turned some of the money offered down. Facebook reports it has no plans to use the money right now and will use it as cash reserves. Facebook is valued at $50 billion.
AMD has posted their quarterly results showing $1.65 billion in revenue, $375 million in net income. It doesn't sound impressive, but the numbers their pushing with products is getting there.
1.3 million Fusion APU's shipped to AMD partners (since November), Radeon HD 5000 and HD 6000 series GPU's have passed the 35 million units shipped mark. Not bad, not bad at all.
Facebook's worth a ton of loot; we all know that. The latest reports estimate Zuckerberg's empire at around $50 billion. The new piece of news that was unleashed today is that Facebook has a timeline for going public: April 2012.
While the idea of owning Facebook stock sounds a little odd when you first think about it, the company is big business and is expecting to pass 500 shareholders at some time this year, which will require the company to start filing public financial reports. This will most likely result in a Facebook IPO hitting, which makes sense for the company if it continues growing at this staggering rate. Imagine; hitting the Like button to keep your investments profitable!
Google had their quarterly earnings release today and along with it they've announced their top-level management structure, with co-founder Larry Page replacing Eric Schmidt as CEO as of April 4th.
Page will handle the day-to-day operations while Schmidt will become Executive Chairman and focus on business deals, partnerships and outreach. Co-founder Sergey Brin will use his power for new and strategic product efforts.
Infamous Wii-hacker Johnny Chung Lee has left Microsoft after working for them with Project Natal (now known as Kinect). Johnny worked for Microsoft for three years working on human tracking algorithms for the Kinect within the Microsoft Applied Science group.
He has jumped ship to Google and is taking a position as a "Rapid Evaluator" - what this is, I do not know, but it could be a big win for Google's rumored Gaming portal.
Found this video on my daily troll of websites, a behind the scenes look at Lexar (a division of Micron) and their production process. Micron is the only chip manufacturing plant in the US and more specifically it's in Ohio.
The video is great, little facts amaze me like, the plant's clean room is 100 times cleaner than a hospitals operating room. Crazy fact! It also shows just how much work can go into something so small.
It looks like Apple CEO Steve Jobs is off to battle another nemesis, and it's not the PC or competing tablets. Jobs announced to his employees this morning that he is taking a medical leave of absence from Apple, leaving Tim Cook to handle the day to day operations at Apple.
You can say what you want about Jobs, but you can't say he isn't tough. His previous medical history includes a bout with Pancreatic Cancer in 2004 and a liver transplant in 2009, both of which he fully recovered from. No specifics were relased about the reason for the latest leave of absence, but more may be released during Apple's Q4 and 2010 earnings release tomorrow.
NVIDIA and Intel are now playing nice. I'm guessing this is because AMD is about to open up a can of whoop ass on them (all the pun in the world intended there, you may remember the tattoo, etc).
NVIDIA and Intel have announced a new six year cross-licensing deal that will have Intel coughing up $1.5 billion over five years to NVIDIA, to gain access to their technology, while NVIDIA gain access to some of Intel's patents.
AMD has just announced that CEO Dirk Meyer has resigned. Currently there is no official reason for his resignation, except that he reached a "mutual agreement" with the company's board.
Current CFO, Thomas Seifert will be the temporary CEO whilst a new one is found. Bruce Claflin, Chairman of AMD's Board of Directors and head of the CEO Search Committee said "Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives including the launch of GlobalFoundries, the successful settlement of our litigation with Intel and delivering Fusion APUs to the market."
Sometime in the next 24 hours, Motorola will stop trading as (MOT) and will be replaced with Motorola Mobility Holdings Inc. (MMI) and Motorola Solutions Inc (MSI).
Motorola Mobility Holdings Inc (MMI) will cover smartphone/set-top boxes as well as sporting the new red logo that you see above, where Motorola Solutions Inc (MSI) will cover public-safety radios and handheld scanners.