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Twitter has just posted its first earnings statement as a public company, with the social network posting a net loss of $511 million for Q4 2013, but ended the year with a total net loss of a staggering $645 million.
The company did double its revenue last year compared to 2012, hitting $664 million. Unfortunately, Twitter's stock price took a huge 16% hit after the news broke. CEO of Twitter, Dick Costolo, said: "Twitter finished a great year with our strongest financial quarter to date. We are the only platform that is public, real-time, conversational, and widely distributed, and I'm excited by the number of initiatives we have underway to further build upon the Twitter experience".
Twitter attributed the $645 million loss to "$521 million of stock-based compensation expense, of which $406 million was for restricted stock units previously granted to employees, for which no expense had been recognized, until the effective date of our initial public offering in accordance with [Generally Agreed Accounting Principles]".
An unknown party has attempted to abandon the Watch Dogs trademark on behalf of Ubisoft, but the United States Patent and Trademark Office has announced that the rights to Watch Dogs have been reinstated to Ubisoft.
Rewinding back a few days, the USPTO saw a filing to abandon the Watch Dogs trademark, but the request for abandonment was a fraud, with the studio never attempting such a thing. The USPTO said in its review of the case: "Here, the circumstances are extraordinary. An unknown party who lacked authority executed the purported abandonment of the application. Although the request appears to have been sent by petitioner, petitioner declared that it did not submit the request and has every reason to believe that this filing was fraudulent. The Director finds the application should not have been abandoned. Pursuant to supervisory authority provided by 37 C.F.R. §2.146(a)(3), the Director permits the reinstatement of the application".
Last week, Facebook unveiled its new iOS app called 'Paper', but now we have design-focused startup, FiftyThree, accusing Facebook publicly for using their brand name.
FiftyThree then decided to take action to protect its brand name, applying for a trademark for the term "Paper," which was filed on January 30 - the day that Facebook announced Paper. FiftyThree already owns "Paper by FiftyThree", but only recently moved to protect the term "Paper", something Facebook has jumped on obviously.
Where to from here? According to trademark lawyers Roberto Ledesma and Victor Cardona says that trademarks, in some instances, are use-based. Cardona says: "just by using a mark in a particular field, you've got rights. Some are state-based and some are federal-based, but if I start using a mark before you in the same area of goods or services, I've got rights to the mark over you".
It was only a week ago that we reported that Google signed a 10-year patent licensing deal with Samsung, but the Mountain View-based search giant has just signed another cross-licensing agreement for patents, this time with Cisco.
The agreement will cover a "broad range of products and technologies" which will help both companies defend themselves from future patent infringement lawsuits, as well as prevent the companies from suing each other, too. Google's Deputy General Counsel for Patents at Google, Allen Lo, says that the agreement with Cisco "will reduce the potential for litigation, letting us focus instead on building great new products".
Dan Lang, Cisco's VP if Intellectual Property had similar things to say, where he said: "In today's overly-litigious environment, cross-licensing is an effective way for technology companies to work together and help prevent unnecessary patent lawsuits".
Last week I reported that Microsoft was very close to choosing Steve Ballmer's replacement, and that the search may have went no further than inside the company itself. This morning Microsoft confirmed that Satya Nadella, head of the company's Enterprise and Cloud business as the new CEO.
"Microsoft is one of those rare companies to have truly revolutionized the world through technology, and I couldn't be more honored to have been chosen to lead the company," Nadella said in a statement this morning. "The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster and continue to transform. A big part of my job is to accelerate our ability to bring innovative products to our customers more quickly."
This announcement shows that Microsoft thinks that cloud services as well as the enterprise market will continue to play a major role in the future. One of the major reasons Nadella was chosen is his long past with Microsoft as he has held many jobs at the company, and is quite familiar with how things operate around Redmond. Additionally, along with the new CEO announcement, Microsoft says that Bill Gates will be stepping down as Chairman of the Board and will take on a new Technology Adviser role. John Thompson will fill Gates seat.
The Wisconsin Alumni Research Foundation, or WARF, has launched a lawsuit against Apple. WARF's lawsuit alleges that the iPhone maker infringes on a patent held by the University of Wisconsin - Madison, US Patent No. 5,781,752.
The patent in question was granted on July 14, 1998 to four university researchers specializing in microprocessor architecture. The patent is dubbed "Table Based Data Speculation Circuit for Parallel Processing Computer". The scientists' circuit, is a predictor which streamlines microprocessor performance by accurately forecasting dependencies of current instructions on previous instructions.
In non-scientist speak, it speeds up the processor, while lowing required system resources by accurately guessing which earlier instructions will match the new input, and start the desired action before the user has finished entering in the command. This is known as brand prediction in other circles. WARF is now alleging that the A7 chip uses this same specific technology that was developed in Madison.
Where the scientists have Apple, is that the company actually cites the patent itself. For Apple to defend itself, it will most likely have to reveal the inner workings of its A7 processor, which is a guarded secret to the company. WARF wants an unspecified sum of money, legal fees taken care of, an an injunction to see Apple obtain, or at least lease the license from the patent holders, or stop making A7-based devices - this includes the iPhone 5S, iPad mini and iPad Air.
Google's mystery, and most likely awesome barge in San Francisco is coming under fire, with the San Francisco Bay Conservation and Development Commission executive, Larry Goldzband, saying that the Treasure Island Development Authority could face fines if construction on Google's barge continues.
TechCrunch spoke with Google, which said that the paper work is under review, but we still don't know what Google is, or will do with its barge. Google could move its barge to the permitted construction facilities in the Bay area in order to avoid fines, but it doesn't look like Google will do that just yet.
Take-Two has enjoyed a great start to the year, reporting its GAAP net revenue for Q3 2014 at $1.86 billion. This is up a massive $415.77 million from the same quarter of last year.
The reason behind this is because of some big-selling titles such as Grand Theft Auto 5, NBA 2K14, and WWE 2K14. GTA 5 may have launched in Take-Two's Q2 2014, but it pushed its results to Q3, because of the launch of Grand Theft Auto Online. GTA 5 has shipped a massive 32.5 million copies, and NBA 2K14 has become 2K's most successful basketball game to date, with over 5 million units shipped.
Take-Two's digital content sales grew 42% year-over-year to $132.8 million, but we still have no word of GTA 5 for the PC or next-gen consoles, but Take-Two CEO Strauss Zeknick did tease: "Looking ahead, we have a robust pipeline of both new intellectual properties and offerings from our proven franchises in development, including more than 10 unique titles for the next-generation consoles".
Dell appears to be kicking its restructuring plan into high-gear if a new report from The Register is correct. The report states that as many as 1500 employees from the PC manufacturing and sales giant could be laid of before the week's end. The layoffs come as Dell settles down into private ownership again, and looks to return larger profits in a failing PC marketplace.
The report goes on to say that the staff reductions will take place company wide in all global markets, and that this lay-off round will affect 15-percent of the company's workforce. Those laid off in US-based facilities of the company will receive a severance package that consist of two months salary as well as an extra week's pay per year of service to the company. Additionally, those laid off will receive a 75-percent bonus, COBRA health insurance for 18-months, and outplacement services. No word was given on what those from countries outside of the us may receive.
Lenovo only just whipped out its card to buy Motorola Mobility from Google for $2.91 billion last week, but now the Chinese giant is reportedly in talks with Sony about a possible joint venture to take over Sony's struggling VAIO PC business.
Japanese broadcaster NHK is behind the juicy news, with Sony saying in a statement: "Sony continues to address various options for the PC business, but the press report on a possible PC business alliance between Sony and Lenovo is inaccurate". Sony says it has plans to revamp its VAIO line of devices, which has been slammed by the smartphone and tablet business.
But with Lenovo earning around 80% of its revenue from PCs, this rumor could turn out to be a very interesting one going into 2014.