Jerry Yang one of the co-founders of Yahoo has resigned from its board of directors and the share of Yahoo are up 3.5% in after hours trading Here is the press release: ""Yahoo! Inc., the premier digital media company, today announced that Jerry Yang has resigned from its Board of Directors and all other positions with the company, effective today. In addition, Yang resigned from the Boards … [Read more...]
Less Than A Year After Its IPO, FriendFinder Recevies Notice That It Faces Delisting Off NASDAQ
FriendFinder Networks Inc., (FFN) which went public in 2011 at $10 a share, has received a notice of non-compliance from NASDAQ that could lead to its delisting from the stock exchange The company in a SEC filing said: “On January 10, 2012, the Company received a notice of non-compliance from Nasdaq stating that the minimum bid price of its common stock had fallen below $1.00 per share for … [Read more...]
Yahoo Names PayPal President Scott Thompson As Its New CEO
Today Yahoo announced that PayPal President Scott Thompson is its new CEO and will start on Monday. In hiring Thompson Yahoo gets someone who has never ran an online media company or an online advertising company or really anything that Yahoo does (see below for his work history) "Scott brings to Yahoo a proven record of building on a solid foundation of existing assets and resources to … [Read more...]
PCWorld Puts Demand Media On Its “Top 10 Dumbest Tech Moves Of 2011” & Marchex Hits 52 Week Low
Two public companies in the domain space are in the news today PCWorld.com put out a story entitled "The 10 Dumbest Tech Moves Of 2011". The story starts out: ""I like to look back with a Grinch-like smile at the dumbest moves made during the past year in the world of tech." "As always, the competition in 2011 was intense. Here are 10 companies that deserve a big lump of coal in their … [Read more...]
Zynga Goes Public Tomorrow At $10 A Share & A $7 Billion Dollar Valuation
The gaming company Zynga is going public tomorrow on the NASDAQ, after pricing its initial public offering tonight on top of its initially announced range of $8.50 to $10 per share. The $10 price means Zynga will have a valuation of roughly $7 billion. Zynga is the operator of many games including Farmville, Cityville, CastleVille has been and a buyer of domains It will be interesting to … [Read more...]
Friend Finder Network Report, Shares Sink Another 22% & They Reorganize Into 14 Divisions
FriendFinder Networks Inc. (NASDAQ: FFN) reported its earnings today and they can only be described as brutal. Revenue for the quarter ending September 30, 2011 was $82.7 million, 5% off third-quarter figures a year ago. Income from operations for the third quarter was $14.7 million, a 32% drop from third-quarter figures a year ago. The company had loss for the third quarter of $5.4 … [Read more...]
Google: Search Share Increases, Sends Invites To Music Event & Announces An Incubator In Israel
Google is in the news this weekend. According to comScore, Google's US market share rose to 65.6 % in October, from 65.3% from September. Yahoo fell to 15.2% which I think is a new low. Microsoft's Bing, rose to 14.8%. Google also sent out invites to the media for an event this week to officially launch its Google Music Service, which is in Beta. You can read more about Google Music … [Read more...]