And it just keeps getting worse for GoPro.
Tagged With Business
Uber cofounder and ex-CEO Travis Kalanick is close to selling "nearly a third" of his equity in the company, Reuters reported late Thursday. Kalanick has so far retained his 10 per cent ownership of the company, even after resigning from his position as CEO in June. Reuters reports the sale, the first time Kalanick has ever sold his own stock, will earn Kalanick $US1.4 ($2) billion.
Amazon is still struggling to get its automated grocery store, Amazon Go, to function right. Who knew it would be so hard to build a brick-and-mortar store with sensors and gadgets instead of cashiers? But in a recent test of the company's experimental Seattle store, some of Jeff Bezos' employees got a little weird. They dressed up in Pikachu costumes to go shopping.
The St. Louis Post-Dispatch just dropped a helluva news nugget. Citing public records, the paper reports that Amazon "has gained approval to become a wholesale distributor from a number of state pharmaceutical boards." That might mean that Amazon wants to sell prescription drugs. Then again, it might not.
Jeff Bezos and friends are on a bit of a spending spree. Amazon just announced that it's looking to drop a cool $US5 billion on a "second headquarters" that will employ as many as 50,000 workers. In characteristically splashy fashion, the company also announced that cities across America will get to bid on the project. We can only assume this will be a competition for the biggest tax breaks.
Back in the halcyon days of 2013, you could buy a brand new, handmade Vertu phone with an underpowered processor and an outdated operating system for $US10,000 ($12,686). But today, my friend, Vertu is drowning in debt and auctioning off these hilarious relics of excess with bids starting at a few hundred bucks. It's ironic because that's how much Vertu should have charged in the first place.
With a market cap that is, as of this writing, hovering around $US800 billion ($1 trillion) and more than $US250 billion ($338.5 billion) in cash, Apple is loaded. Not even its decidedly flat earnings report last week can change the fact that it is the most valuable publicly traded company of all time.
Alaska Airlines announced on Wednesday that it will retire the Virgin America brand sometime in 2019. The Seattle-based airline bought Virgin America last year for $US2.6 ($3) billion with the hope of expanding beyond the Pacific Northwest. Richard Branson, founder of Virgin America, apparently cried when he heard the news. Why? Well, it means he'll be losing money.
One of the biggest reasons Pebble was a damn fine smartwatch was its entirely reasonable price. Back in December, the Kickstarter success story sold off its assets to Fitbit and was promptly shut down. Today, we learned how much it was sold for and it seems those low, low prices continued into its demise.
Five innovative Indigenous startups have been selected to attend a "mini" four-week business-accelerator program at The Capital, the recently opened dedicated venue in Brisbane's CBD for digital technology startups and entrepreneurs.
The program is offered by Barayamal, a new not-for-profit business, which will run Australia's first Indigenous accelerator program from mid-2017.
Yesterday the stock market did exceptionally well. But tech stocks weren't so lucky. And it looks like the impending Donald Trump presidency is continuing to spook investors about Silicon Valley, as tech stocks continue to plunge today.
Snapchat's parent company, Snap Inc., is preparing for an initial public offering that is expected to value the company at $US25 billion ($32.9 billion) or more, according to a Wall Street Journal report. The newspaper says the company is already filling out the paperwork. But there's there is no guarantee that a share sale will happen on the timeframe, or that the valuation will remain the same by that date.
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Facebook quietly filed a proxy statement with the SEC this week that seeks to clarify what happens to the company in a post-Mark Zuckerberg world. A key part of that plan: Zuck's descendants cannot inherit the power to control Facebook. They're in America, after all.
Video: Budget airlines like Jetstar and Tiger Airways in Australia, JetBlue and Southwest in the United States, and Ryanair and Easy Jet in Europe, are often significantly cheaper to fly compared to legacy airlines like Qantas and Virgin. How is this possible? Flying is expensive! The simple answer is that budget airlines simplify as many costs as possible.
You might think businesses in Australia fear data breaches caused by offshore hackers, malware or outright scams. But it turns out most view human error as a larger threat to information security than deliberate theft or sabotage from a third party.
Human error or accidental loss by an employee is identified as the biggest source of a potential data breach. Despite this, almost a third of small and medium sized businesses and five per cent of larger organisations said they had either never trained their staff on information security policies or didn't have these policies in place.