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Twitter earlier this year invested $70 million into SoundCloud, both companies have confirmed. Combined with other investments, the audio-sharing service is expected to value at an estimated $700 million.
"Earlier this year we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators," said Twitter CEO Jack Dorsey. "They've been great partners of ours over the years and their community-supported approach mirrors ours in many ways."
Meanwhile SoundCloud says the investment will help them with new initiatives like its subscription service SoundCloud Go.
E3 2016 - In the midst of E3 2016, Microsoft has just announced its plans to acquire LinkedIn for $26.2 billion. The deal will see the creator of Windows acquire the work-focused social networking giant in an all-cash deal, with LinkedIn's share value at $196 each, a 50% premium over LinkedIn stock before the deal.
LinkedIn will remain independent within Microsoft, keeping its own branding with existing LinkedIn CEO Jeff Weiner included in the acquisition, and will now report to Microsoft boss himself, Satya Nadella. Nadella said: "The LinkedIn team has grown a fantastic business centered on connecting the world's professionals. Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet." Microsoft is planning to close its acquisition later this year, and the deal has been unanimously approved by the boards of directors of both companies".
This is Nadella's first big acquisition since he took the CEO position over two years ago, with Microsoft now positioning itself as the "world's leading professional cloud" now mixed together with the "world's leading professional network". With over 433 million LinkedIn users, Microsoft now has a company that was letting those near half billion users network, find employment, and reconnect with old colleagues, and so much more.
Lenovo's $3 billion 2014 acqusition of phone maker Motorola hasn't worked out well, according to the company's latest financial report. In it, Lenovo states that "integration efforts did not meet expectations" and that its China sales and product transition efforts in North America were "not successful." The hope was for Motorola to become the big third in the smartphone market, a position Huawei has since occupied.
On the bright side, the company says it's learned, which is why it's appointing two co-presidents, one with a strategy for China, and one with a strategy for everywhere else. The plan is to refocus its efforts in China on the affordable yet potentially powerful Zuk brand and to "get the US business back on track with a competitive product portfolio." The first step in the latter case is the latest Moto G launch. The second: the Moto Z, which is expected to feature a radically different approach to be revealed next month.
Peripheral maker Razer last year opened retail stores in the Phillipines and Thailand, and now it's about to open its first in the US.
The shop is just across the way from its global headquarters in San Francisco's Moscone Center. Boasting nearly 1,300 square feet and two stories, it features 20 demo stations for its peripherals, audio, and broadcast products, as well as a 16x9 foot video wall that streams gaming content that even onlookers from outside can see.
Razer will host weekly gaming events at the outlet and says customers are welcome to stay all day if they feel like it. By the sounds of it, they're going for an arcade vibe, which sounds great by us.
Late last year, Western Digital announced its huge $19 billion acquisition of SanDisk, with the company receiving its final regulatory approval today. Once it's complete, WD will become even bigger in the storage industry.
WD acquiring SanDisk will allow the company to have a strong position in the continuously growing NAND storage market, in a time where the demand for mechanical HDDs is falling. SanDisk is the third-largest producer of NAND flash in the world, behind industry giants like Toshiba and Samsung.
SanDisk's President and CEO, Sanjay Mehrotra, said: "We are pleased that the final regulatory approval has been received and we can now proceed with the planned combination with Western Digital. We thank our stakeholders for their support of this transaction and look forward to contributing to the success of Western Digital as it transforms into the leading storage solutions company".
Twitter's stocks dropped to $13.90 this morning according to Bloomberg, an all-time low since the company's public inception three years ago. It rose slightly to $13.99 later in the day, putting its market cap at $9.7 billion: a significant drop versus last week's $14 billion, which was estimated prior to the release of the company's quarterly results. As of press time, they sit at $14.08.
Things haven't been going well for Twitter lately, between a recent smattering of executive departures and a trend of dropping stock values. Months ago, The New Yorker went so far as to say the end is near for the social media service, while USA Today stated about the same time that it could go on for hundreds of years due in part to its $3 billion cash reserves. We're inclined to think the truth is somewhere in between.
Wealthy investor Carl Icahn, has pulled his entire investment out of Apple stock. With Icahn being one of Apple's biggest backers, claiming multiple times that Apple stock was undervalued, and offers more to investors than meets the eye - well, Icahn has pulled his stock and it's making headlines.
Just a month ago, Apple stock was trading at $110, and now it's sitting at $93.74 at the time of writing. How much did Icahn hold in Apple stock? Well, he owned around 0.83% of Apple stock - which is a huge portion of stock for a single investor, which was valued at an insane $4.5 billion. Late last year, Icahn sold around $700 million worth of shares, but this time it was a much bigger chunk.
The reason Icahn sold his Apple stock? Apple is facing issues in China, which are struggling to create devices for the middle class - you know, the people who can't afford $1000 smartphones. This is why Apple has shifted into devices like the iPhone SE, but it hasn't been enough. Apple recently reported that their revenue decreased for the first time in 13 years, due to falling iPhone demand across the world.
While the entire gaming market has shifted to mobile and consoles in terms of AAA game development, the PC is still a powerhouse when it comes to profits.
According to Newzoo's latest Global Games Market Report, we have the latest sales numbers on mobile, PC and console gaming. PC gaming is more profitable than console gaming, but mobile gaming blows them both away. Newzoo's Global Games Market Forecast Model projects gamer numbers and revenues per segment, region and screen on a global, regional, and country level. The report also shows the share of paying gamers and average spend in the same granularity.
The company explains in the report: "These projections are analyzed in various ways, comparing year-on-year growth rates, market share, CAGRs and absolute amounts in USD between the regions and segments, as well as the development of specific regions or segments in time. These projections are compared to available third-party sources on a local or global level. Given the pace of the developments in the games industry, Newzoo reviews its conclusions and assumptions every quarter, taking into account newly available data and insights. Before publication of any data, Newzoo also performs validation checks in various ways including comparison against historic internal data, comparison against market figures from alternative sources and validation from several Newzoo clients".
Valve has officially teamed with Bitpay, introducing support for Bitcoin as a payment method on Steam. Gamers can now use digital currency to purchase games and more through Steam, which is pretty damn cool.
Rory Desmond, Director of Business Development, North America and APAC, explained on the official website: "Today we're announcing a new payment integration with software and gaming giant Valve which will bring bitcoin payments to Steam gamers worldwide".
Gamers and PC enthusiasts have long thought of Intel as a PC company thanks in part to sheer longevity, and of course its technically excellent processors. But as the PC market under-performs, Intel is now looking at itself in a new light, one that focuses more on other technology sectors.
The company's chief executive Brian Krzanich made it crystal clear for the first time this week that it's transforming itself "from a PC company to a company that powers the cloud and billions of smart, connected computing devices." Which is only logical, given 40 percent of its revenue and 60 percent of its profit margin now come from sources other than the PC space.