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What is happening in Tech World.. Keeping a close watch.

Twitter goes public

Twitter goes public

Twitter, which announced plans on Thursday to go public, is the latest US technology company to test the waters on Wall Street.

Here is a look at the fortunes of some other notable tech companies which have conducted initial public offerings over the past two years:

Facebook: The social network started by Mark Zuckerberg, which now has more than 1.1 billion users around the globe, had a rocky debut after it went public at $38 a share in May 2012 with a valuation of $16 billion.

Facebook shares fell below $20 over the past year and only climbed back over their offer price in July. Facebook shares closed at $44.75 on Thursday, boosted recently by reports that mobile advertising revenue is on the rise.

LinkedIn: The social network for professionals and job-hunters,LinkedIn has been one of the biggest stars of the technology sector since turning to Wall Street in May 2011.

Shares of LinkedIn more than doubled from their offer price of $45 on the first day of trading. LinkedIn, launched in 2003, closed at $249.70 on Thursday.

Groupon: Online daily deals sensation Groupon went public in November 2011, raising $700 million in what at the time was the biggest initial public offering by an Internet company since Google.

But the Chicago-based company, which was listed on the Nasdaq at $20, has struggled since then and its share price closed at $11.76 on Thursday. Founder Andrew Mason was fired as chief executive of the company in February amid sluggish growth.

Yelp: Shares of restaurant and business review website Yelp have soared since the San Francisco-based company went public in March 2012 with a $15 initial public offering price.

Yelp shares closed at $63.77 on the New York Stock Exchange on Thursday. Yelp, founded in 2004, offers user-generated reviews of service businesses by city across the United States, Canada and western Europe.

Pandora: Internet radio Pandora made its Wall Street debut in June 2011, raising $235 million with stock priced at $16 a share.

Pandora, which creates personalized radio stations for users based upon their favorite artists or songs, traded below its offer price until recently but closed at $23.97 on Thursday. Pandora named a new chief executive on Wednesday, sending its stock price up 12 percent for the day.

Zynga: Online gamemaker Zynga was valued at $7 billion when it made its play on the stock market in December 2011.

But the company behind Facebook games such as FarmVille and Mafia Wars has been on a losing streak since then. Zynga shares, which were offered at $10, closed at $3.02 on Thursday.

 

Source : Techgig

HP launches Big Data platform HAVEn

HP launches Big Data platform HAVEn

Aiming to expand its Big Data analytics portfolio, Hewlett-Packard has launched the platform ‘HAVEn’, designed to enable organizations to gain better insight into their data and deliver real-time outcomes.

“HAVEn, is a big data analytics platform, which leverages HP’s analytics software, hardware and services to create the next generation of big data-ready analytics applications and solutions,” HP software & solutions country director Amit Chatterjee told reporters at the launch event here.

Without disclosing any number, he said “big data market in India is currently $200 million and is expected to reach $1 billion by 2015.”

Chatterjee said: “According to research commissioned on behalf of HP, nearly half (47%) of companies surveyed in India will spend at least 10% of their IT innovation budget on Big Data this year.”

“More than one-third of the organizations surveyed also believe strongly that Big Data is the largest competitive differentiator for their organization. However, the study found that more than 10% of these organizations have failed with a Big Data initiative they had implemented,” he added.

HP also is expanding its Big Data portfolio with new capabilities that help clients build and operate their Big Data solutions, with the launch of HP Operations Analytics.

“It is the first integrated big data analytics solution built on HAVEn, which delivers insight into all aspects of IT operations, so organizations can ensure quality service levels,” Chatterjee said.

The company also announced two additional products to help on the journey to Big Data – HP Vertica Community Edition and HP Autonomy Legacy Data Cleanup.

Source : Techgig

First Google hire leaving for online academy

First Google hire leaving for online academy

The first person hired by Google’s founders is leaving the Internet giant to devote himself to an innovative online education website called Khan Academy.

Google on Thursday confirmed that Craig Silversteinis departing the California company he helped Larry Page and Sergey Brin build into the world’s most popular search engine.
“Craig’s been with Google since the early days,” Google said in an emailed response to an AFP inquiry.
“He was instrumental in the development of search and made numerous contributions to Google over the years.
“We wish him all the best at the Khan academy and know that he will do great things to help them promote education around the world,” Google said.
Silverstein was “Googler number 3,” joining graduate students Brin and Page about 14 years ago after they launched the service in a Stanford University dorm room.
The engineer planned to join Salman Khan at the nonprofit Khan Academy, which provides online video classes. Google and the Bill and Melinda Gates Foundation are listed among the academy backers.
Zuckerberg’s ‘Hacker Way’ helped Facebook to prosper

Zuckerberg’s ‘Hacker Way’ helped Facebook to prosper

Facebook’s billionaire CEO Mark Zuckerberg calls himself a hacker. For most people, that word means something malicious, shady criminals who listen in on private voicemails, or anonymous villains who cripple websites and break into email accounts.

For Facebook, though, hacker means something different. It’s an ideal that permeates the company’s culture. It explains the push to try new ideas (even if they fail), and to promote new products quickly (even if they’re imperfect). The hacker approach has made Facebook one of the world’s most valuable Internet companies.

Hackers “believe that something can always be better, and that nothing is ever complete,” Zuckerberg explains. “They just have to go fix it, often in the face of people who say it’s impossible or are content with the status quo.”

Zuckerberg penned those words in a 479-word essay called “The Hacker Way”, which he included in the document the company filed with government regulators about its plans for an initial public offering. The company is seeking $5 billion from investors in a deal that could value Facebook at as much as $100 billion.

The 27-year-old, who has a $28.4 billion stake in the stock deal, uses the H-word 12 times in the essay; “shareholder” appears just once. Should Zuckerberg have left those references out of his IPO manifesto, knowing full-well it could scare off potential investors? He could easily have described Facebook as “nimble” or “agile” instead.

“Symbolically, it doesn’t bode well to Facebook and to potential investors,” says Robert D’Ovidio, an associate professor of criminal justice at Drexel University in Philadelphia who studies computer crime. “I think it shows maybe an immaturity on his part. He should definitely know better.”

By using the word, Zuckerberg is also trying to reclaim it. To him, Steve Jobs and the founders of many of the world’s biggest technology companies were hackers.

“The word `hacker’ has an unfairly negative connotation from being portrayed in the media as people who break into computers,” Zuckerberg writes. “In reality, hacking just means building something quickly or testing the boundaries of what can be done.”

To be fair, the meaning has become complicated. Bad hackers destroy things with evil intentions. They break into the voicemails of crime victims and celebrities in search of a hot news story. They breach security systems to steal credit card data. Just this week, members of the loose-knit group Anonymous hacked into law enforcement websites around the world and gained access to information about government informants and other sensitive information.

Good hackers break things, too, sometimes. But they do it in the name of innovation. They call themselves “white hat” hackers to counter the criminal “black hats.” Often, they’re hired to expose security vulnerabilities at big corporations.

Kevin Mitnick, who was convicted and sent to prison in the 1990s for computer hacking, now works as a security consultant. It’s the flip side of his past life, when he spent years stealing secrets from some of the world’s largest corporations.

Facebook’s story: From dorm room to Nasdaq

Facebook’s story: From dorm room to Nasdaq

Facebook filed to raise $5 billion in an initial public offering. Here are a few highlights of its meteoric rise, several of which were chronicled in David Fincher’s seminal Oscar-winning 2010 movie, “The Social Network”:

October 28, 2003
Mark Zuckerberg, a Harvard psychology sophomore, writes “Facemash,” a website that asked users to judge students’ attractiveness based on their dorm-directory photos. The authorities — and many students — were not amused.

February 4, 2004

Zuckerberg launches Thefacebook.com, a social network that allows users to create basic profiles including personal information and photos.

February 10, 2004
Harvard students Cameron Winklevoss, Tyler Winklevoss and Divya Narenya send Zuckerberg a cease-and-desist letter, accusing Zuckerberg of independently developing thefacebook.com while he was hired to work on their social networking project, HarvardConnection.

June 2004
Peter Thiel, PayPal co-founder and venture capitalist, invests $500,000 in Facebook.

May 26, 2005
Accel Partners, the venture capital firm headed by investor Jim Breyer, invests $12.7 million in Facebook, valuing the company at roughly $100 million.

October 24, 2007
Microsoft Corp announces that it purchased a 1.6 per cent share of Facebook for $240 million, giving the company a total implied value of around $15 billion.

April 7, 2008
Facebook settles with the founders of “ConnectU”, the Winklevoss twins and Divya Narendra, for a purported $65 million, according to promotional material later published by ConnectU’s lawyers.

May 26, 2009
Russian investor Yuri Milner’s Digital Sky Technologies invests $200 million for a 1.96 percent stake, bringing Facebook’s value down to $10 billion.

June 3, 2010
Zuckerberg sweats profusely as he takes questions about Facebook’s privacy policy while onstage at the All Things Digital conference. The episode, which the Twittering classes dubbed a “Nixon Moment,” renewed questions about Zuckerberg’s viability as the CEO of a company rumored to go public soon.

June 30, 2010
In one of the more bizarre twists in Facebook’s history, New York businessman Paul D. Ceglia files suit against Zuckerberg, claiming he had struck a deal with the founder in 2003 for half of Facebook’s revenue and rightfully owned 84 per cent of the company. Three successive lawyers withdrew from his legal team within a period of four months in late 2011. The litigation remains ongoing.

October 10, 2010
Columbia Pictures releases ” The Social Network,” a film about Facebook’s beginning, directed by David Fincher and written by Aaron Sorkin.

January 2, 2011
Facebook raises $500 million from Goldman Sachs and Digital Sky Technologies in a deal that valued the company at $50 billion.

January 2011
Goldman controversially markets as much as $1.5 billion worth of Facebook shares to its private investors, but withdraws the offer from American clients on January 18 following intense media coverage and scrutiny from the US Securities and Exchange Commission. The offer was withdrawn because of accusations that it ran afoul of regulations prohibiting share-placement sponsors from aggressively promoting a deal to potential investors.

November 29, 2011
Facebook agrees to settle Federal Trade Commission charges that it deceived users on what information it would keep private. The incident underscored how user concerns about privacy were spurring top-level government scrutiny of Silicon Valley.

January 25, 2012
Trading of Facebook shares is halted on the secondary market as rumors of an impending IPO gain steam.

February 1, 2012
Facebook files its Form S-1 with the Securities and Exchange Commission seeking to raise $5 billion in a highly anticipated IPO.

 

src-techgig