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Thursday, October 24, 2013

Twitter Sets Its IPO Price, Valuing Company At Around $11 Billion

In this Nov. 8, 2011, photo, NASA fan David Parmet signs his name on a Twitter logo during a tweetup event for about 50 of NASA's Twitter followers at the Langley Research Center in Hampton, Va.

Brock Vergakis/AP

In this Nov. 8, 2011, photo, NASA fan David Parmet signs his name on a Twitter logo during a tweetup event for about 50 of NASA's Twitter followers at the Langley Research Center in Hampton, Va.

Brock Vergakis/AP

Twitter announced today that it plans on selling 70 million shares at $17 to $20 each, during its initial public offering.

Bloomberg and The Wall Street Journal did the math and it means that the company is looking to raise about $1.4 billion and values itself at about $11 billion at the high end. This is the biggest tech IPO since Facebook went public in May of 2012.

Bloomberg reports:

"'They're picking a slightly lower valuation to ensure that the IPO goes up on the first day of trading,' Francis Gaskins, president of IPODesktop.com, said in an interview. 'I would definitely buy them in the offering at this valuation.'

"The six-year-old short-messaging site, which draws more than 230 million monthly active users and has transformed the way people communicate, is taking advantage of renewed appetite for social-media stocks to sell a 13 percent stake. While the company has more than doubled revenue annually, it hasn't yet turned a profit and the pace of user gains is slowing. Still, Chief Executive Officer Dick Costolo is betting the service's popularity on mobile phones will help lure advertisers."

Of course, Facebook didn't fare so well during its early days, so investors are watching Twitter closely. The Journal adds:

"Facebook's shares began tumbling shortly after its IPO. In part, the offering was affected by a glitch at the Nasdaq Stock Market. NDAQ 0.00% But some traders and investors also said that Facebook's raised price and expanded size of the offering caused them to sell.

"Twitter is aiming for an IPO price that avoids Facebook's fate, but also one that doesn't produce an enormous 'pop,' or first day jump, people familiar with the company's thinking have said. A big pop can be a sign that the company didn't raise as much money as it could have."

Facebook offered its stock at $38 each. It took more than a year for the company's price to break that ceiling. It is now worth about $52.

Source: http://www.npr.org/blogs/thetwo-way/2013/10/24/240563839/twitter-sets-its-ipo-price-valuing-company-at-around-11-billion?ft=1&f=1001
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EXCLUSIVE! The CW Lets Seksi Reign Over Mary, Queen of Scots' Kingdom! Watch The Crazy Preview NOW!

10/24/2013 6:50 PM ET | Filed under: TV News

Hot damn, Mary, Queen of Scots!

You've put yourself into an exceptionally sticky situation—and we're not talking about the masturbation scene that was cut from the pilot! LOLz!

Reign—which airs its second episode TONIGHT, focuses on 15-year-old Mary (played by Adelaide Kane) who has just been freed from a battle between Scotland and England over her crown!

For her safety, she's sent to France to marry the next king, but just wants to have fun, despite the essential curse of the monarchy!

Ch-ch-check out the crazy clip (above) to see if the show's juicy enough for you to tune in!

If you're into love triangles, fancy period clothing, and lavish social events, allow Reign to take over your TV every Thursday on the CW!

Tags: adelaide kane, england, kingdom, mary queen of scots, reign, the cw, tv news

Source: http://perezhilton.com/2013-10-24-exclusive-cw-reign-mary-queen-of-scots-kingdom-watch-clip-now
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What's Keeping Self-Driving Cars Off the Road?

It's easy to see how self-driving cars would benefit society. Traffic jams gone. Accidents reduced. Leisure time increased!

Jamie Dornan as Christian Grey in Fifty Shades of Grey: 5 Things You Don't Know

Hollywood's new "It" hunk? Us Weekly confirmed on Thursday, Oct. 24 that Jamie Dornan has been cast to replace Charlie Hunnam in the film adaptation of E.L. James' erotic novel Fifty Shades of Grey. The 31-year-old actor will take on the role of Christian Grey, a wealthy young businessman who secretly practices BDSM, opposite Dakota Johnson's role as college graduate Anastasia Steele.

PHOTOS: Shirtless hunks

Dornan won the part after Sons of Anarchy star Hunnam, 33, got cold feet over the script and other issues earlier this month. "Everyone trusts that [Dornan will] make an excellent Christian and will do the role justice," an insider told Us. "His contract is set -- this has the potential to make him a huge star."

PHOTOS: Stars' big breaks

Here, Us Weekly uncovers five things you might not know about Dornan.

PHOTOS: Celeb scribes

1. He is Irish. Perhaps destined for Hollywood, Dornan was born in Holywood, County Down, Ireland. He has two older sisters and dropped out of Teesside University in Middlesbrough, England to move to London to train as an actor.

2. He had a sexy career start. Dornan began modeling underwear for Calvin Klein and starred in many hot, shirtless ads. His first major acting role was playing Count Axel Fersen in Sofia Coppola's 2006 film Marie Antoinette starring Kirsten Dunst in the title role.

Jamie Dornan modeled underwear for Calvin Klein early in his career.
Credit: Calvin Klein

3. He previously dated Keira Knightley. The couple met at an Asprey photo shoot in 2003 and dated for two years before splitting up. Dornan married British actress and singer-songwriter Amelia Warner in April 2013, and Knightley wed musician James Righton in May 2013.

4. He is about to be a daddy. He and wife Warner, 31, confirmed in June 2013 that they are expecting their first child together.

Jamie Dornan played Sheriff Graham and The Huntsman on Once Upon a Time.
Credit: Craig Sjodin/Kharen Hill/ABC

5. He played the handsome virtuous Sheriff Graham on Once Upon a Time . . . and currently plays a serial killer in The Fall. Dornan's Once Upon a Time character was killed off in season one in 2011 as the show's first major death, but returned as the Huntsman for the season finale episode. Leaving the fairytale world behind, Dornan took on the role of serial killer Paul Spector in the U.K. TV series The Fall. "I don't want to play a serial killer for the rest of my life," he told The Mirror in June 2013, "but this will change perceptions of who I am."

Source: http://www.usmagazine.com/entertainment/news/jamie-dornan-as-christian-grey-in-fifty-shades-of-grey-5-things-you-dont-know--20132410
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SFX Buys Readability Developer Arc90, Fame House and Tunezy To Boost Its Electronic And Live Dance Music Business

Electronic dance music is big business today, and today SFX Entertainment, a producer of live events and other electronic dance music content is making a big consolidation move to cement its position within it. It is buying three startups — Arc90 (maker of the Readability app), marketing agency Fame House and music commerce platform Tunezy — to beef up its offerings online. The terms of the deal have not been disclosed; we’ll update if we can find out.

The string of deals follows the company’s acquisition of Beatport earlier this year.

The three companies and their teams are joining SFX to become the company’s platform team, with Arc90 founder Richard Ziade coming on as the company’s new chief product officer, he said in a blog post today.

“Arc90, Fame House and Tunezy are leaders in each of their fields and bring extraordinary talent to SFX,” said Robert F.X. Sillerman, Chairman and CEO of SFX Entertainment, in a statement. “These deals are consistent with our commitment to bring [electronic music culture] fans around the world more of what they love, 365-days-a-year, and to be world-class in all our areas of focus.”

Arc90′s possibly most visible product was Readability, which was an early project that also involved Marco Arment before he went on to start Instapaper. Arc90 has also worked with a number of clients to develop web and mobile apps behind the scenes, and that is how it was first introduced to SFX. Another Arc90 product was Kindling, a collaboration tool for businesses. With services like Instapaper and Flipboard taking off with consumers, it’s been hard for others to compete, and you can see how consolidating with a larger publisher might make sense for the company. Ziade says that both Kindling and Readability will continue to live as separate products, with an update for Readability coming soon.

As for Tunezy, the Canada-based startup had raised an undisclosed round with Interntainment Media. With platforms like Spotify and iTunes increasingly cornering the respective streaming and download markets, it’s hard for smaller music players to get a look in. Tunezy was built as a route for independent musicians to connect and sell music to fans, and it says it has some 10 million fans connected to artists that use its platform, but in a game of scale even this may have been too uphill a struggle.

This is where SFX may be able to come in handy. EDM (or EMC as SFX calls it) has largely bucked the trend in music today of diminishing returns on music sales. With a very heavy focus on paying for live events that revolve around star DJs, it’s become a huge money spinner — something that a recent article in the New Yorker pointed out is grossing even more than gambling at the casinos that have gone all-in on their EDM offerings.

There will be some of this coming through more in the digital space, it seems. “The DNA of Arc90 is to challenge convention and innovate,” said Arc90 CEO Rich Ziade.”We’re incredibly excited to contribute to the direction and stewardship of the digital experiences that will color so much of electronic music culture in the future. With SFX, we found a shared commitment to innovation and experimentation.”

The acquisitions are expected to close in November 2013.

Image: flickr

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ZmKCEGfYC88/
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Take two tablets: Will the iPad Air and Retina iPad mini cure Apple's market share slide?

Apple put up some impressive numbers today: 170 million iPads sold to date. 475,000 iPad apps available. $13 billion paid to app developers. Yet those numbers only tell part of the story. While the iPad may continue to be the top-selling tablet line, it no longer dominates the market the way it once ...

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/McPxz1wpSrs/
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Facebook: Decapitation Vids Are OK if You Oppose Decapitation

The reasoning behind Facebook's about-face on gruesome content has left many observers confused. "Should we allow our kids to abuse drugs to understand that they shouldn't do them?" said Ian Gertler, president and chief marketing officer for Symplegades. "Of course not. Facebook prohibits nudity, drug use and pornography, and those restrictions will remain, so the decision leaves me a bit puzzled."

Facebook has reversed a ban that it implemented earlier this year forbidding the posting of graphic and gruesome content such as videos of decapitations and other atrocities.

The social media company apparently made this about-face some time ago, but it only became widely noticed when the BBC reported on it this week after being alerted by a reader who said the social network had refused to remove a page with a clip of a masked man killing a woman.

The ban was originally imposed in May following complaints that such material could cause long-term psychological damage.

'Graphic or Gratuitous Violence'

Now, Facebook appears to be walking a fine line between embracing freedom of speech and avoiding offending wide swaths of its users. Its Statement of Rights and Responsibilities tells users they "will not post content that: is hate speech, threatening, or pornographic; incites violence; or contains nudity or graphic or gratuitous violence."

Recent comments made by the company to media outlets, however, note that the site is willing to tolerate such content (again) if it is posted to share experiences and otherwise condemn such events.

The social network is also considering putting in place protections for users who don't want to be offended by the material, such as warnings that the images contain graphic content.

A Facebook spokesperson was not immediately available to provide further details.

'They Must Explain Their Actions'

Facebook's decision has drawn widespread criticism, not least from British Prime Minister David Cameron, who decried the move in a tweet.

It is "irresponsible of Facebook to post beheading videos, especially without a warning," Cameron wrote. "They must explain their actions to worried parents."

Indeed, "the concept of showing these videos to condemn them seems odd," Ian Gertler, president and chief marketing officer for Symplegades, told TechNewsWorld. "Should we allow our kids to abuse drugs to understand that they shouldn't do them? Of course not."

Facebook's reasoning is confusing to adults as well, he added: "Facebook prohibits nudity, drug use and pornography, and those restrictions will remain, so the decision leaves me a bit puzzled."

A Win for the First Amendment

The flip side to the issue is that Facebook could gain some much-needed First Amendment creds, David Johnson, principal of Strategic Vision, told TechNewsWorld.

"There will be some who will object to such graphic material being displayed," Johnson said. At the same time, though, "it will also appease many who have been criticizing Facebook for its censorship policies, and it allows them to appear to be on the side of free speech."

Earlier this month Facebook was roundly criticized for temporarily suspending a gay porn star for posting a photo of him kissing his husband. Later, Facebook apologized for the error.

In April, Facebook was again in the firing line for reportedly removing a photo of two men kissing.

In February Facebook deactivated the account of Danish artist Frode Steinicke, who posted a copy of a 19th century oil painting hanging in the Musée d'Orsay in Paris. The painting depicted female nudity and Facebook would only reinstate the account after the painter promised to post only pictures of clothed people, according to media reports.

'Just a Click Away'

Still, even people who might appreciate Facebook's nod to free speech are dismayed by the violence of the content -- illustrating just how complicated an environment Facebook must navigate.

"Facebook's decision seems to be based on its belief that responsible users can decide what to watch and what not to watch and Facebook doesn't intervene on people's freedom of speech and people's right to have access to information online," Sang Nam, associate professor of communications at Quinnipiac University, told TechNewsWorld.

Meanwhile, "these gruesome videos are just a click away," he added.

"Some might say the Internet has a self-correcting mechanism, and gruesome videos would be removed by concerned users," Nam continued. "It is true in a sense, but Facebook is risking many vulnerable teens by lifting its ban."

Source: http://www.technewsworld.com/rsstory/79249.html
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