- Sun Microsystems, which last week agreed to be purchased by Oracle for $7.4bn, reported sharp losses in the opening months of this year, highlighting the impact of the recession on the computer systems company. In a departure from protocol, Sun did not host the usual conference call with investors and analysts following results.
- IBM responded to the collapse of its own takeover offer for Sun this month with an announcement that it would return more cash to its shareholders instead in the form of a higher dividend and increased stock buy-back plan.
- A day after Verizon Communications was reportedly in talks with Apple to sell the iPhone and possibly other devices, news comes that the carrier is also in talks about selling a new Microsoft smartphone. Microsoft’s Windows Mobile operating system runs on many of the most popular smartphones that rival the iPhone and Research in Motion’s BlackBerry. But reports say Microsoft is now working on a piece of hardware to challenge Apple more directly.
- Peer-to-peer lending has received a boost from the re-emergence of Prosper.com. The company was forced into a “quiet period” six months ago, while the Securities and Exchange Commission investigated whether it should register as a securities broker. Now California has said it can accept individual and institutional lenders in the state. “We remain hopeful that the SEC, which until now has effectively hamstrung the growth of the peer-to-peer and micro-lending industries in the U.S. will start applying the same common sense approach as California’s regulators,” said Chris Larsen, Prosper chief executive, in a blog post.
- Quantenna Communications, which makes chips that enable high-definition video to be sent wirelessly around the home, has announced $14m in third-round funding, led by Southern Cross Venture Partners and including existing investors such as Silicon Valley’s Sequoia Capital. The three-year-old company has now raised more than $42m and plans to use the new money as working capital to help it expand sales and engineering activities and support increased production.
- IMShopping, launching today, is the latest web service to leverage Twitter. Users can ask questions on Twitter about where to buy products or on the IMShopping website and receive answers from human guides. IMShopping also announced $4.7m in first-round funding from Korea’s SK Telecom.
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