David Karp has focused on expanding Tumblr Inc.’s network of free bloggers for the past five years. Today, 55 million of them are posting text, photos and videos on the site. Even Beyoncé and Jay-Z turned to Tumblr’s blogging platform earlier this year to release the first photos of their newborn to the public. But now, both Mr. Karp, a 25-year-old New Yorker, and his company are heading into a risky new phase: Making the site profitable. For the first time, he is making plans to sell advertising and sponsorships to Tumblr’s network of bloggers and their followers. Read the rest of this post on the original site »
Read MoreHedge-fund manager Philip Falcone’s LightSquared Inc. venture is preparing for a potential bankruptcy-protection filing, as negotiations with lenders to avoid a potential default faltered, according to people familiar with the matter. The two sides still have until 5 p.m. Monday to reach a deal that would keep LightSquared out of bankruptcy court, and there were some indications over the weekend that a final decision hadn’t yet been reached on the company’s fate. Still, the two sides remained far apart and people involved in the negotiations expected LightSquared to begin making bankruptcy preparations in earnest. Read the rest of this post on the original site »
Read MoreGoogle Inc. slightly increased its leading market share among U.S. Internet-search engines last month, while Microsoft Corp.’s Bing search engine also gained market share, according to market researcher comScore Inc. Google’s U.S. market share rose 0.1 percentage point to 66.5 percent in April from the prior month. Microsoft’s share also edged up 0.1 percentage point to 15.4 percent last month. Yahoo Inc.’s sites remained in the No. 3 spot, slipping 0.2 percentage points to 13.5 percent. IAC/InterActiveCorp.’s Ask.com’s share and AOL Inc.’s shares were unchanged at 3 percent and 1.6 percent, respectively. Read the rest of this post on the original site »
Read MoreT-Mobile USA said it lost more than a half million of the most lucrative customers in the first quarter, casting doubt on whether the company can regain momentum after regulators blocked its sale to AT&T Inc. The 15th straight quarter of contract customer losses puts the carrier further behind AT&T and Verizon Wireless in the race to lock users into two-year commitments. Read the rest of this post on the original site »
Read MoreFacebook Inc. has built a $3 billion-a-year advertising business by convincing marketers to buy new forms of advertising designed to create buzz around their brands. But some advertisers with big spending accounts are wondering whether they’re getting their money’s worth. The doubt lingers as bankers and prospective investors decide how to value Facebook for an initial public offering planned for May 18, said people familiar with the matter. Facebook executives will be pitching the company to big investors in an IPO roadshow starting Monday, these people said. Read the rest of this post on the original site »
Read MoreActivist investor Starboard Value LP is looking for a compromise end to its AOL Inc. proxy fight. The investor disclosed in a filing Friday that as recently as Wednesday its chief executive, Jeffrey Smith, had discussions with a member of AOL’s board, Fred Reynolds, about “a potential resolution to the proxy contest.” The filing added that “to date, the parties have not been able to reach an amicable resolution.” Read the rest of this post on the original site »
Read MoreActivist investor Starboard Value LP is looking for a compromise end to its AOL Inc. proxy fight. The investor disclosed in a filing Friday that as recently as Wednesday its chief executive, Jeffrey Smith, had discussions with a member of AOL’s board, Fred Reynolds, about “a potential resolution to the proxy contest.” The filing added that “to date, the parties have not been able to reach an amicable resolution.” Read the rest of this post on the original site »
Read MoreTOKYO — Nintendo Co. posted its first annual loss in more than three decades, dragged down by the strong yen and price cuts for the company’s Wii game console and 3DS hand-held system. While competing with online social games and less-expensive titles on smartphones and tablet computers, Nintendo also is revamping its portable and home machines to keep pace with Sony Corp. and Microsoft Corp. Nintendo plans to debut a new home console, the Wii U, this year. Read the rest of this post on the original site »
Read MoreInternational Business Machines Corp.’s board approved a 13 percent dividend increase and authorized an additional $7 billion to buy back shares as the company looks to return more of its rising cash levels to shareholders. The quarterly dividend increase, to 85 cents a share from 75 cents, marks the 17th year in a row that IBM has increased its payout. It will cost the company roughly $117.4 million more per quarter and gives IBM a dividend yield of 1.7 percent, based on current stock prices. Read the rest of this post on the original site »
Read MoreARM Holdings on Tuesday posted a strong increase in first-quarter revenue and profit, driven by demand for its microchip designs, and said annual revenue will be in line with market expectations. ARM produces microchip blueprints found in most mobile phones, including Apple Inc.’s iPhone, as well as tablets, computers, household goods and even cars. Read the rest of this post on the original site »
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