It's like we're living the dot-com bust over again and the addage that history repeats itself really is true. Months before some analysts started to doubt the
Groupon IPO, we predicted its demise right on our show. As it would turn out, we were right. Groupon's IPO for $10 billion, initially, worked like a champ, however investors have dumped almost all of their stock just as fast as they bought it up. Shares fell from just over $31 to half of that at $16 at the time of this writing. The stock has even seen a low of just under $15, bringing the company's valuation to under $10 billion and leaving no hope for them in the future, or any other Internet company for that matter. Investors are now afraid of the Internet yet again and the financial industry is in shock as if they have no clue why this didn't work. At least Groupon is one of the few companies with a business model.
With all of that being said, now would be a bad time for another company to try and start an IPO, right? Zynga would be wise to
stay out of that mix for the time being, so it only makes sense that Facebook thinks now's the perfect time to shoot for a $100 billion valuation and $10 billion in an IPO, and that's not a typo.
Microsoft got there first. If at first you don't succeed, try, try again. That is the mentality of Microsoft as, after rumors of them possibly purchasing Yahoo from under Google's nose, have come to fruition. The company has signed a non-disclosure agreement with Yahoo. Along with Microsoft are other investors like Silver Lake and TPG Capital who all believe that the success of Yahoo lies within a new, better management team.
Microsoft is looking to tap into Yahoo's 81.2 million unique news readers and by signing the NDA, they will be able to dive into Yahoo's financials a little more. However, all of these investors are not interested in a full buyout. Instead, bidders are looking to buy a minority stake in the company. Microsoft's goal is to help finance a bid and not buy them outright, according to sources closer to the matter.
Clearwire has been in a little bit of financial trouble as of late. Aside from Sprint deciding that they would be moving to LTE in the future of their 4G deployment,
leaving Clear behind after 2012. This week, we're adding more fuel to the fire, as Clearwire is thinking about not paying a huge debt that is due in about two weeks.
In September, the company had $698 million in cash and short-term investments, so it should be able to afford to pay the $237 million it owes on December 1st. The problem is that the company has to raise a lot more money in order to stay in business in a year's time.
It's time to show love to the WinPho 7. The Windows Phone app marketplace is now loaded with more than 40,000 different apps. The All About Windows Phone website uses a tracking system that can identify trends and project figures. The system currently shows that about 165 apps are added to the Marketplace each day, would should give us more than 50,000 apps in January.
In the past three months, we've seen 11,000 apps added to the store and around 5,000 of them were submitted in the past 30 days. For the Marketplace in general, the numbers show that the WinPho platform is really starting to gain attention off the
heels of their giant Windows Phone event. 10,000 of the recently added applications are from new and different publishers.
The latest round of shutdowns at Google has been announced and it is, once again, a number of products most people have never heard of or assumed were already gone. We'll start with our favorite Google disaster:
Google Wave. The product was announced at Google I/O in 2009, but no one was ever as excited about Wave as Google was. The social collaboration system, which allowed email, text messages and real-time document editing, was never the hit Google assumed it would be and inevitably was closed for development. Jan 31, 2012 will see Wave go read-only with full shutdown April 30.
Knol was billed as a replacement for Wikipedia in 2007, allowing experts in the field to maintain the data. Unfortunately, no one ever knew the product existed and it suffered the standard Google fate. The service will be retailed through April 2012, allowing users to get their data out, or migrate it to WordPress. The system will be shut down completely October 1.
That's not all that's going away. Hit the break for the rest of the list.
Apple seems to hold a strange place in the hearts of the people of China. From selling
kidneys and virginity, to counterfeiting entire stores, they sure do show their attachment to the company and its products. What do you do if your girlfriend wants an iPad, but you are not a virgin and need to keep both of your kidneys? Build it yourself, of course.
That is exactly what Wei Xinlong, a senior at the Art & Design Department at Northeast Normal University did. Well, kind of. Using a touchscreen and battery he purchased and parts from an old laptop, Wei built an entirely touchscreen device that "one can read, download, watch movies, play games by just touching the screen." The casing, all hand-cut, is adorned with rhinestones and has the Apple logo on the front. Unlike an iPad, though, it can be used for useful things because it runs Windows. It even has all of the ports you would expect on a device, like VGA and USB. The best part? It only cost him $125 to build.
It seems to me this thing is like the perfect gift - less expensive than an iPad, running Windows and has connectivity, plus it was built by someone she loves. It doesn't get much better than that. Head over to the source article at the bottom to see some more pictures of the device.