Google has acquired Zagat for an undisclosed sum. Google executive Marissa Mayer said in a blog post that Zagat will become a “cornerstone” of Google’s local services, which include listings and maps for restaurants and other small businesses. Google announced the deal on its blog. I'm thrilled that Google has acquired Zagat. Moving forward, Zagat will be a cornerstone of our local … [Read more...]
Rumor Of The Day: Will Verisign Be Bought Out?
Verisign is up big for the 2nd day in a row on rumors that it maybe in play to be bought out. Yesterday Chief Financial Officer Brian Robins cancelled a planned appearance at a financial conference organized by Citigroup Inc which sparked a rumor that the company maybe a buyout target. At the time Verisign was trading down to around $29 a share but wound up over $2 a share yesterday and is … [Read more...]
Bartz Out As CEO Of Yahoo & Shares Rise Over 5%
AllThingsD.com is reporting that Carol Bartz is out as the CEO of Yahoo. CFO Tim Morse has been named interim CEO. Bartz term at Yahoo I think by all accounts was less than remarkable. Shares of Yahoo closed today at $12.91 a share Since the announcement shares of Yahoo are up over 6% in after hours trading currently at $13.70 Guess that tell you what the shareholder's thought about … [Read more...]
Google To Pay U.S. $500 Million To Settle “illegal” Pharmacy Ads
According to the Wall Streeet Journal, Google has agreed to pay $500 Million dollars to the US government to avoid prosecution over allegations that it knowingly accepted hundreds of millions of dollars in ads from rogue online pharmacies. "The pharmacies appearing in Google ads were operating outside the law, leading to a Department of Justice investigation into Google’s advertising practices … [Read more...]
Bnet.com: Demand Media’s Dodgy Accounting Decoded: It May Never Make a Profit
A blog post published on BNet.com, entitled "Demand Media’s Dodgy Accounting Decoded: It May Never Make a Profit", caught my attention especially on a day that Demand Shares hit an all time low of $7.12. Basically the author says that "Demand amortizes its editorial budget rather than expensing it on a quarterly basis as the cash is spent , is not helping the company achieve … [Read more...]
VC Fund Buys 5.3% Of Verisign or More Than $250 Million Worth
According to Theflyonthewall.com, a Venture Capital firm has taken a 5.3% equity interest in Verisign. The company is ValueAct and at the closing price of VeriSign of around $30 a share Verisign has a $5 Billion dollar market cap the investment is worth more than $250 Million. According to the company's website, Value Act: ValueAct Capital was initially formed in June 2000 to … [Read more...]
FriendFinder Networks Loses Another $12 Million
FriendFinder Networks Inc. (Nasdaq: FFN), announced financial results for the second quarter and six months ended June 30, 2011. Net Loss for the second quarter of 2011 was ($11.9 million), or ($0.55) per share, compared to ($4.9 million), or ($0.36) per share, for the second quarter of 2010. Net Loss for the six months ended June 30, 2011 was ($15.5 million), or ($0.88) per share, compared … [Read more...]