Yelp files to go public
It lost $7.6 million for the first nine months of 2011 on around $58 million in revenue, vs an $8.5 million loss on $32 million in revenue during the previous year period. The company makes most of its money from local advertising, followed by brand advertising on its website. We’ll have detailed analysis soon.
Salesforce beats on revenue but disappoints of earnings, losing money for the quarter. Shares dropped after hours.
Pandora has 3.7% of all radio listening, but its share of radio advertising revenue is half that. This is the bull’s case for Pandora: that ad dollars are going to shift to platforms like Pandora.
PayPal launches a person-to-person payments app on Facebook. This is an interesting experiment; social payments are a tantalising market and Credits are a big revenue driver for Facebook.
Zynga Chief Business Officer Owen Van Natta steps down. He will have an advisory role, but this can’t be great news. Van Natta is one of the top executives in Silicon Valley (former COO of Facebook and CEO of MySpace); even if he didn’t want to stay at Zynga forever, it’s hard to see why he couldn’t be convinced to stay through a challenging IPO process.
PC hardware manufacturers are pulling out of the tablet market.Fresh off the release of the Kindle Fire, PC companies have conceded they can’t get the product right without strong content support or create the economies of scale necessary to compete on price. This essentially leaves Google-owned Motorola, Apple, Amazon, and perhaps Samsung to compete for the market.
238 small record labels are planning to pull out of agreements with digital streaming services, including Spotify. The labels complain they don’t earn much on streaming royalties and that the services cut into their digital purchase revenues. While a few labels opting out is not a big threat to Spotify immediately, in the long-term they will need to find a way to keep independents happy or risk undermining their promise to provide consumers all music at their fingertips.
People in the U.S. download the most Android apps in the world, followed by South Korea and the U.K., according to a new survey from firm research2guidance. The report also says the number of apps offered in the Android market is growing quickly, but the share of those that are paid is falling.
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