Archive for Thomson Reuters

Articles of the Day

Posted in Digital Media, News with tags , , , , , , , , on December 18, 2008 by Dave Liu

Velocity’s Miller Out Of The Running For Top Yahoo Job Or Takeover — Velocity Interactive Group’s Jon Miller is not trying to acquire Yahoo (NSDQ: YHOO), nor is he a candidate to replace Jerry Yang as CEO, Bloomberg reports, citing unidentified sources. Miller declined to comment on either point in an interview with Bloomberg. Earlier this month, activist investor and Yahoo director Carl Icahn said he had talked to Miller about plans that the former AOL (NYSE: TWX) CEO was raising money for an acquisition of Yahoo either in whole or in parts. Icahn said he told Miller that this was not a good time for any sale, as he felt Yahoo’s stock, which was trading around $11.35 at the time—as of yesterday, it was up to $13.36—remains undervalued.

No Surprise: VCs Say It Will Be Tough To Get Early Stage Funding In 2009 — If the credit crisis and Wall Street implosion haven’t made it obvious, take it from the VCs themselves: expect fewer startups to get off the ground next year. According to stats from the third National Venture Capital Association (NVCA) Predictions Survey, VC firms won’t have much extra time or money to invest in newer companies in 2009: 60 percent of respondents said there will be fewer seed rounds and 64 percent said there will be a decline in early stage funding next year. On the bright side, about half of the VCs surveyed said late stage funding would actually rise. More after the jump. Internet, media and entertainment to be hit: 58 percent of VCs expect investment in web-based companies to decline, while 71 percent said that the media and entertainment space would receive much less funding next year.

Thomson Reuters Plans To Issue Up To $3 Billion In Debt –This is probably not the best time to ask for more credit, but Thomson Reuters (NASDAQ: TRIN) is planning to issue up to $3 billion in debt over the next two years, Reuters reports, citing regulatory filings. The media company says the debt issuance would go towards supporting general business functions. It said that specific terms for the debt issuance would be provided at a later date.

LinkedIn Founder Hoffman Back As CEO; Yahoo’s Weiner Is Interim President — In a major executive shuffle, LinkedIn founder Reid Hoffman is reclaiming his role as CEO and bringing former Yahoo (NSDQ: YHOO) Jeff Weiner in as interim president, per the LAT. Dan Nye, who’s held the CEO post since Hoffman recruited him for the gig in early 2007, did not reveal what his plans would be once he left the company in January. Nye’s departure comes somewhat out of left field (though the LAT says he’d been discussing it with Hoffman for months), as LinkedIn has flourished under his leadership. The professional social network raised more than $70 million in funding in 2008, including $22.7 million from investors including McGraw-Hill two months ago, and a mammoth $53 million round led by Bain Capital Ventures in June, lifting its valuation past the $1 billion mark.

Meebo To Launch Syndicated IM Service — Web-based chat and IM company Meebo next month plans to launch a syndicated IM service in conjunction with about 35 partners, including movie site Flixster, Web media company Sugar Inc., and social discovery company Tagged. “The service allows users to log into all of their networks at the same time,” Meebo chief revenue officer Carter Brokaw said at an industry summit on Wednesday.

ShopAtHome.com Sees Interest From Financial And Strategic Players, But Prefers To Remain Independent, President Say — ShopAtHome.com, (aka Belcaro Group), is on the radar of financial and strategic players, but it prefers to remain independent, said Marc Braunstein, president and co-founder. The Greenwood Village, Colorado-based direct response company receives numerous calls from such players and is “certainly a target” he said, but the preference for the company is not to forego its independence at this time. He added that the company is not looking for external funding. It has “low eight figures in sales.” Belcaro Group, founded more than twenty years ago, is owned by Braunstein and his wife, Claudia. The company banks with Citywide Banks and uses DLA Piper as its legal counsel. ShopAtHome.com provides consumers with online access to coupons, cash back rebates, and catalogs, which is a small piece of the business right now, he said. Retailers pay ShopAtHome.com to access its members. Over the years, the company has had in excess of 10m members, and attracts 100,000 to 150,000 new members a month, noted Braunstein. Source: mergermarket.

Articles of the Day

Posted in Digital Media, News with tags , , , , , , , , , on October 23, 2008 by Dave Liu

LinkedIn Debuts B2B Network — Seeking new revenue streams, professional-focused social network LinkedIn today is expected to debut a network catering to business-to-business market researchers. “B2B market research is a $100,000 million dollar industry, and we feel we can become a leading provider of that data,” said Dan Shapero, director of business services for the LinkedIn Research Network. To date, the LinkedIn Research Network has already partnered with six market research firms–including Phoenix Marketing International and OTX–to conduct targeted B2B primary research among its network of some 30 million professionals worldwide. Among the other advantages that LinkedIn claims to have over other data providers is its global reach with over 13 million professionals outside of the United States on the LinkedIn network. The network also purports to provide deeper insights through better targeting by filtering respondents by title, seniority, function, age, country, and company size, among other variables.

Amazon Q3 Profits, Revs Up, But Poor Outlook Sends Shares Down — Although Amazon was able to beat an analysts’ consensus forecast of $0.25 per share earnings, shares were still down as much as 14 percent in after hours trading, which Marketwatch attributed to a poor Q4 outlook. That said, compared to some others, Amazon reported healthy Q3 numbers, as net income grew 48 percent to $118 million, or $0.27 per diluted share, compared with net income of $80 million, or $0.19 per diluted share, last year. Revenue was up 31 percent to $4.26 billion, missing analysts’ estimates of $4.28 billion. Amazon had offered revenue guidance of a range between $4.2 billion and $4.43 billion. Outlook: Q4 net sales are expected to be between $6.0 billion and $7.0 billion, or to grow between 6 percent and 23 percent compared with Q407. For the full year, net sales are expected to range from $18.46 billion and $19.46 billion, or to grow between 24 percent and 31 percent compared with 2007.

Health Content Wars: Microsoft Bests Google With Aetna, Yahoo Beefs Up Through Partnerships — Microsoft continues to line up HealthVault partners: the latest is Connecticut-based health insurer Aetna. Members currently using Aetna’s electronic Personal Health Record (PHR) feature will be able to transfer those records to HealthVault next month. Aetna is the first benefits provider to make use of Microsoft’s platform. Microsoft recently said that a number of health institutions want to tap both HealthVault and rival Google Health, but the Aetna partnership may be the first sign of a slight advantage over Google. While a number of pharmacy benefits providers have partnered with Google Health, we’ll see how long it takes before a major health insurer does the same.

Google Upgrades Analytics Functions — Google unveiled a major upgrade Wednesday to Google Analytics. It includes new services–such as custom reporting, advanced segmentation, API, visualization tool, integration into AdSense–and updated user interface and management interface. Until now these features had been “extremely expensive,” said Brett Crosby, senior manager of Google Analytics, suggesting companies spend millions of dollars annually for similar functions. “We took something expensive and difficult, and made it free and easy to use.

Olympics Pump Baidu Q3 Profits Up 91 Percent — Boosted by increased usage during the Beijing Olympics, Chinese search engine Baidu’s Q3 profits came in at $51.2 million (347.9 million yuan), or $1.47 per share, up 91 percent from last year’s $24.2 million (181.7 million yuan). Revenues increased by 85 percent, to $135.4 million (919.1 million yuan), from $66.3 million (496.5 million yuan) in Q307. The company beat estimates (via WSJ) although just barely for revenue; analysts polled by Thomson Reuters (NASDAQ: TRIN) expected earnings of $1.28 per share on revenue of $135 million. The engine was also able to attract more advertisers—and get them to spend more—than in previous quarters. Baidu (NSDQ: BIDU) had 194,000 customers in Q3, up 7 percent from Q2, and up almost 36 percent year-over-year. Average revenue per customer came in at 4,700 yuan ($692), up 6.8 percent from Q2 and up 34 percent year-over-year.

Thomson Reuters Plans ‘Relentless’ Cost Cutting In Downturn, Still Optimistic — Thomson Reuters has promised to “relentlessly” cut costs as the global economy begins to bite its clients’ businesses and, with them, its own. Devin Wenig, CEO of the markets division that includes Reuters Media and Reuters.com, yesterday told staff, in a frank internal memo obtained by paidContent:UK: “Many of our big customers are struggling and there is talk of a global recession. We are in a period of unprecedented change that seems to be unfolding in real time… The changes we are witnessing are global and deep and this is very different to a cyclical downturn.”