Revealed: How Twitter’s secret offer for Instagram made Facebook pay $1B
The secret details of the $1 billion deal between Facebook and Instagram are more convoluted than anyone thought. VentureBeat has learned that Instagram chief executive and co-founder Kevin Systrom first got an offer and a term sheet from Twitter, then shrewdly doubled the value of his young company by striking a deal with Facebook.
On Monday, April 9, Facebook announced that it was buying photo-sharing sensation Instagram for $1 billion in cash and stock. The unexpected, mammoth deal was a shock to the Internet community, and to many of Instagram’s own investors — including new investors in a $50 million round of funding that closed prior to the buyout (Instagram has yet to confirm the round).
Are You Running a Stupid Company?
When a pre-revenue company with about a dozen employees gets a $1B Silicon Valley payday, tongues wag.
Did Facebook pay too much for Instagram – the popular photo-sharing app that lets users take and customize pictures with their phones – or not enough?
‘Pivoting’ Pays Off for Tech Entrepreneurs
Technology entrepreneurs of past eras took two years to build a product, hire a staff and figure out whether there was any real market for their service. But today all that typically takes only a few months as founders cycle quickly through different ideas until they find one that sticks.
How CISPA would affect you (faq)
It took a debate that stretched to nearly seven hours, and votes on over a dozen amendments, but the U.S. House of Representatives finally approved the Cyber Intelligence Sharing and Protection Act on April 26.
Passions flared on both sides before the final vote on CISPA, which cleared the House by a comfortable margin of 248 to 168.
Samsung sends protesting flashmob to Sydney Apple Store, tells customers to ‘Wake Up’
Samsung’s marketing machine appears to have gone into overdrive with reports that advertising agencies working on its behalf sent a bus full of protesters to the Apple Store in Sydney, Australia to tell customers to ‘Wake Up’.
We know that Samsung is readying the launch of its ‘Next Galaxy’ smartphone, which is due to be unveiled on May 3, but the company may also be working on creating buzz for the handset in Australia.
Most of the Internet’s Top 200,000 HTTPS Websites Are Insecure, Trustworthy Internet Movement Says
Ninety percent of the Internet’s top 200,000 HTTPS-enabled websites are vulnerable to known types of SSL (Secure Sockets Layer) attack, according to a report released Thursday by the Trustworthy Internet Movement (TIM), a nonprofit organization dedicated to solving Internet security, privacy and reliability problems.
The report is based on data from a new TIM project called SSL Pulse, which uses automated scanning technology developed by security vendor Qualys, to analyze the strength of HTTPS implementations on websites listed in the top one million published by Web analytics firm Alexa.
Nintendo to begin simultaneous digital and retail releases
In an investor meeting following the news of Nintendo’s £330m annual loss, president Satoru Iwata has outlined his views on the state of the industry and some plans for the future.
The big announcement is that the company is radically changing its approach to releasing games on the 3DS console. Starting with the launch of New Super Mario Bros 2 this summer, the manufacturer’s in-house titles will be simultenously available via retail stores and digital download.
Precise Pangolin rolls out: Ubuntu 12.04 released, introduces Unity HUD
The developers behind the Ubuntu project have announced the availability of Ubuntu 12.04, codenamed Precise Pangolin. The new version of the popular Linux distribution brings updated software, several major user interface improvements, and a number of changes to the platform’s default application lineup.
Ubuntu is released every six months on a time-based schedule. The version number is based on the year and month of the release. Version 12.04 is the sixteenth release since the original launch of Ubuntu in 2004. Ubuntu’s audience grew at a rapid pace and quickly elevated it to the status of the most popular Linux distribution for the desktop. The distribution has since been expanded to support servers and mobile and embedded systems
YouTube co-founders raise Series A funding for AVOS from Google Ventures, NEA and others
Internet company AVOS Systems has raised a Series A round of funding, co-founder Chad Hurley announced on stage during a fireside chat at The Next Web Conference in Amsterdam today.
New Enterprise Associates (NEA) and Google Ventures led the round, with participation from Madrone Capital and China-based incubator Innovation Works.
Facebook’s next patent push: The top suspect
When Yahoo filed its sweeping patent lawsuit against Facebook, claiming that Facebook essentially built its social network on the back of Yahoo’s intellectual property, Mark Zuckerberg took little time to take up arms.
In just over a month, Facebook has snapped up more than 1,400 patents — 750 from IBM in March, and on Monday, 650 from Microsoft. It’s all a swift attempt to bolster its position against Yahoo and to amass a war chest to scare off others looking to sue a company whose pockets will grow ever deeper once it goes public.
Apple kills Chomp for Android
Apple acquired app discovery service Chomp earlier this year, betting that it would help make app discovery easier and better on its iTunes Appstore. The casualty of that acquisition is the Chomp for Android app which seems to have been discontinued. It is hard to figure out what is going to happen to Chomp’s deal with Verizon. Anyway, the upside of Chomp for Android being put out to pasture is that it means less competition for rival app discovery platforms such as AppsFire and others, who can work with carriers for better app discovery on their Android stores.