Photo: Twitter via Jalifax
Good morning! Here’s the overnight news. After, come back to SAI for live news and analysis all day.
- Amazon’s earnings missed, but its stock soared to an all-time high in after-hours trading.
- Amazon’s e-books business has become a “multi-billion-dollar category” in five years, up 70% in 2012. But no Kindle sales figures were announced during the earnings call.
- There will be a massive round of layoffs at Time Inc. today; up to 700 jobs could be cut.
- Smart thermostat company Nest has raised another $80 million at an $800 million valuation, and it’s shipping 40,000 products per month.
- Michael Dell is trying to buy back majority control of his company by combining his personal 15.7 per cent stake in Dell with up to $1 billion of his own funds.
- Reed Hastings is being featured in GQ magazine and he says Netflix wants to become the next HBO.
- YouTube is rolling out paid subscriptions starting this spring.
- It looks like Box’s funding round soared to $150 million, up from $125 million reported last year. CEO Aaron Levie is looking to IPO in 2014.
- One of Facebook’s product managers says the company went into a “34-day lockdown” before the launch of Graph Search. Lockdowns are a tradition at Facebook, where employees with a looming goal double-down to work on it.
- You really have to see this picture of Ashton Kutcher and Steve Jobs side by side. The two are identical.