Some in the blogosphere have taken notice that AMD director Claflin Bruce L. sold off 3,447 shares of Advanced Micro Devices, as reported in an SEC filing on Friday. Claflin, who served as 3Com's CEO prior to joining in August 2003, was listed as the Sunnyvale chip maker's "Director" within the filing rather than his full title of Executive Chairman of the Board.
The company responsible for Farmville, Mafia Wars, and several other popular social games is finding out that nothing's guaranteed in the second coming of the dot-com bubble. Zynga shares began trading today, and at first, it looked as though Zynga would follow in the footsteps of Groupon, LinkedIn, and other social sites that have gone public and exploded on the stock market.
According to sources inside the company, Facebook CEO Mark Zuckerberg nearly set kicked off full-scale pandemonium at the Facebook offices when he recently told employees the long-awaited IPO was coming soon. Facebook has been teasing the market for the better part of a year with speculation that it would file its S-1 papers and sell stock publicly. For employees, that would mean a chance to finally cash in on all that stock.
A new report details some seriously shady practices at FarmVille maker Zynga last year. Apparently the firm was using large batches of stock to entice the hottest talent in silicon valley to join up. This is fairly common in tech start-ups. However, in the process for planning it’s impending IPO, Zynga CEO Mark Pincus became worried they had given out too much stock. His solution was simple: force employees to give it back.
While Everquest and Ultima Online helped define MMORPGs, World of Warcraft is the game that most people think of when the genre is mentioned. But could its heyday in the sun be coming to a close after all these years? A Reuters report released late last night would have you believe so: its headline trumpeted “World of Warcraft loses steam” and the article went on to describe how Wall Street investors kicked Activision Blizzard after it said that the game lost almost 1 million subscribers in the past quarter. We actually read the report, though, and we’re calling it nothing but FUD.
Investors have been chomping at the bit for months in anticipation of getting a piece of that sweet, sweet Facebook stock. But the Financial Times is reporting that Zuckerberg and company have pushed the expected IPO back until late 2012 at the earliest. The upshot, you have more time to save your pennies in hopes of buying a share.
The collective cry from Wall Street this morning is, "They took our Jobs!" Wait, that might have been what was beaming from a repeat episode of South Park. In any event, Apple investors are trying to figure out what life will be like in the Cupertino camp after Steve Jobs dropped a bombshell late yesterday announcing his resignation, effective immediately, with former COO Tim Cook stepping in as his replacement.
One of the hazards of signing up with a start up is that the stock they use to lure employees in usually can’t be cashed out until the company allows it. That’s been the case with Twitter for years now, and both employees and investors are getting antsy. But the social service’s new round of funding, reported to be around $800 million, will include $400 million just for cashing out stock options.
In perhaps another sign the economy is recovering, popular internet brand Yelp is looking to make an initial public offering (IPO). CEO Jeremy Stoppelman told the Wall Street Journal in an interview the an IPO was back on the table. Stoppelman didn't say when the company would make the move, but indicated they were looking to bring a new CFO on board before moving forward.
The more we hear about Living Social's meteoric rise, the more we think Groupon should have taken that Google buyout offer. In the process of acquiring a company called SocialMedia, Living Social disclosed some financial data to value the shares they were handing over in the deal. According to the disclosure, Living Social is valued at $2.9 billion, and sees $50 million in monthly revenue.