Photo: Aaron Fulkerson/Flickr
Good morning! Here’s the news:
- Groupon’s stock crashed yesterday after missing on revenue expectations, despite the fact that the company reported a profit for the first time in its recent history.
- The big red flag for investors was that Groupon’s billings declined from last quarter because the company’s core business, coupons, is now shrinking.
- App.net, the paid Twitter alternative from Dalton Caldwell, ended up raising more than $800,000 from 12,315 people.
- Google will buy the travel company Frommer’s for a reported $23 million.
- We just heard a rumour that Google wants to get into a new business: same-day deliveries.
- Marissa Mayer asked former Yahoo CEO Terry Semel for advice on how to run the company. Apparently the two had a very pleasant phone conversation.
- Salesforce.com has officially completed its $689 million acquisition of Buddy Media.
- Apple has mysteriously started laying off some retail employees and cutting hours for others.
- Mark Zuckerberg shares at least one weird trait in common with Steve Jobs: he doesn’t invest in startups.
- In case you missed it: Meet some of the members of Apple’s elite industrial design team.