Alibaba repurchases half of Yahoo’s stake for $7.1 billion
As Yahoo’s struggles continue, the company is looking to cut costs and dig up cash wherever it can. Yahoo announced plans last month to lay off 2,000 workers, or nearly 15% of its staff, and before that it filed a “puzzling” patent lawsuit against long-time partner Facebook. Now, Yahoo will sell half of its 40% stake in China-based retail giant Alibaba. Led by Chinese Internet entrepreneur Jack Ma, Alibaba will repurchase part of Yahoo’s holdings in the e-commerce firm for $7.1 billion as it prepares to take the company public. The deal, which was announced in a joint statement on Monday, will see Yahoo sell half its stake in Alibaba for $6.3 billion in cash and as much as $800 million in new preferred
20 TV Shows With the Most Social Media Buzz This Week
The most universal sport in the world dominated social networks Saturday. Soccer (or "football," depending on your preference) teams Chelsea and Bayern Munich battled in Munich's Allianz Arena for the UEFA Championships League trophy.
Google CEO Larry Page on Charlie Rose -- Talks Facebook, Future of Google
Google CEO Larry Page talks Facebook, Oracle and the future of Google in an interview airing Monday night on Charlie Rose.
Apple being offered free rent just to open up stores
Apple Stores are increasingly seen as a sign of affluence, a sign that a neighborhood "has arrived." It turns out that some cities are more anxious to arrive than others, offering Apple sweetheart deals to open new stores — deals … Continue reading →
Hulu looks to take on Netflix with new original shows
Hulu on Monday announced 10 original and exclusive TV shows that will premiere this summer, including one from writer-director-actor Kevin Smith. Smith, known for the cult classic Clerks and numerous other films, will host a half-hour movie “revue” for movie lovers, which will be available on Hulu and Hulu Plus beginning June 4th. “I have always wanted to do a show that provides an open forum for real fans to discuss real movies in real time and that’s what ‘Spoilers’ is about. As a filmmaker and lover of movies, I understand that ultimately it’s the fans who make the film. So in this show, we do not review movies, we revere them,” said Smith. In August, Hulu will launch a
Zuckerberg Bride, Priscilla Chan, Not Your Usual Billionaire's Wife
Just as we thought Facebook CEO and newly minted billionaire Mark Zuckerberg was on top of the world, he surprised even his friends by marrying his college sweetheart, 27-year-old Priscilla Chan, just after he led the company to one of the biggest IPOs in tech history. Zuckerberg has been...
