Facebook is on a road trip to woo investors for its IPO, Yahoo is in deep-trouble with its CEO’s resume flap and Microsoft goes green with carbon neutral data centers. In other news, AOL gives away proceeds from patent sale to shareholders, Google goes for mistrial after a jury rules in Oracle’s favor over the copyright case and Facebook launches it very own app center.
10. Angry Birds now a $100 million revenue business
Rovio Entertainment, the company behind ‘Angry Birds’ released its first financial figures this week posting total revenue of $106.3 million. However, it’s not just the game downloads that have proved to be profitable, it’s the merchandising and licensing that have driven a revenue increase. The consumer products group now accounts for about 30 percent of the revenue. The company also noted that it has hit one billion cumulative downloads of various Angry Birds games.
9. Google plays catch-up to Amazon in fight over cloud
Amazon has dominated the Web-based computer services market allowing hundreds of thousands of companies to rent servers for their websites, support mobile applications and store customer data. Now, Google wants to be on top of the cloud-computing market. The search-engine giant has doubled its efforts by hiring more engineers and salespeople, increasing marketing efforts and bringing new features for businesses seeking speed at lower cost. But will Google catch up to Amazon?
8. HP on Sleekbook: Apple doesn’t ‘own silver’
Hewlett-Packard unveiled a new collection of Sleekbooks or ultra-portable laptops. HP’s new Envy Sleekbook will compete against Apple’s Macbook Air. The Sleekbook is a cheaper version of the HP Ultrabook and carries the AMD processor versus the expensive Intel processors. The tech critics are not impressed with HP’s new series of laptops. They are not the envy of the market, yet.
7. Facebook launches an app center
Facebook users have always been left to fend for themselves when scrounging for apps and games like Cityville, Farmville or Draw Something. Now the scrounging days are over as Facebook launches an app center to centralize all the social apps. Developers will be able to charge for app purchases just like Apple’s App Store.
6. Cisco income rises in line with forecasts
Cisco reported a 20 percent increase in its net income and six percent jump in total revenue for the third quarter. However, even with big profit gain, the company’s stocks were down nearly nine percent. The increase in profits comes as a result of job cuts and company restructuring in the past year.
5. Microsoft goes green: data centers, offices to be carbon neutral come July
After getting dinged by Greenpeace for having dirty cloud-computing data centers, Microsoft launched a company- wide carbon offset program. The tech giant’s goal is to go carbon neutral at the start of Microsoft’s 2013 fiscal year and hold various divisions accountable for their own energy usage.
4. AOL to give shareholders all proceeds from patent bonanza
AOL announced that it will give 100 percent of the proceeds from its $1.1 billion patent sale directly back to shareholders. Earlier this month AOL sold 925 patents to Microsoft for $1.1 billion in cash which in turn sold 650 patents to Facebook. Shares jumped after AOL’s announcement to hand over the sale proceeds.
3. Yahoo CEO apologizes in resume flap; board member Patti Hart to depart
Yahoo seems to be in trouble lately with its loss in total revenue, failed restructuring efforts and now the resume controversy with CEO Scott Thompson. Yahoo’s investor, Third Point pointed out that Thompson falsely claimed to have a degree in Computer Science on his resume. Director Patti Hart was responsible for hiring Scott which made her directly responsible for overlooking the resume error has announced that she will not stand for re-election to the board at the next annual meeting. The founder of Third Point, Daniel Loeb has called on the board to fire Scott Thompson. Who wouldn’t want to embellish their accounting degree?
2. Google moves for mistrial in Oracle case
The ongoing legal battle between Google and Oracle took a twist when the jury returned a verdict for the copyright phase of the trial. The jury declared that Google had infringed on the overall structure and sequence of copyrights related to the Java programming language. After the verdict was declared, Google filed for a mistrial. The May 7 jury verdict came in the first phase of an eight-week trial. The last phase of the trial will deal with damages.
1. Facebook IPO roadshow in full swing
Facebook’s IPO is looming while the CEO Mark Zuckerberg hits the road trying to woo investors. CEO Zuckerberg’s attire at the New York IPO pitch raised concerns but not enough to divert investors. The roadshow then went to Boston with a main presentation and better format but without CEO Zuckerberg and his famous hoodies sweatshirt. Facebook’s first IPO is reported to be kicking off on May 18th priced in a range of $28-$35 per share.
Disclosure: Microsoft and Amazon are Weber Shandwick clients.