Daily Archives: June 2, 2011

Chris Nuttall

Out of Pandora’s box has sprung information on pricing, shares being offered and, with a quick multiplication, a valuation for the internet radio company ahead of its imminent IPO. Following LinkedIn and Yandex’s big flotations, and Groupon’s filing today, the increased amount being raised by Pandora suggests that it is optimistic of greater interest in its offering than when it first filed in February. 

Groupon, the online coupon business, has jumped on the internet bandwagon by filing for an initial public offering, and the figures it discloses in its S-1 filing are astonishing in various ways.

In short, Groupon is  growing like crazy in terms of number of users and offers, while losing money at an eye-watering rate. To make up for the latter, it has come up with an ingenious way of smartening up its figures. 

Maija Palmer

EastWest Institute Second Worldwide Cybersecurity SummitIt was appropriate that the day that Google was unveiling details of a new Gmail hacking attack, an august group of politicians and business leaders gathered in London, at a security summit organised by the EastWest Institute,  to tell each other that, well, cyber security is a big problem. 

For more than a decade, the task of securing a personal computer, corporate network or internet transmission from hackers has been one the vast majority of people, from chief executives and government leaders to consumers, have tried to foist on others.

That is understandable: the job is complicated, unproductive, and never finished. 

Pinn illustration

The only thing on which companies and investors seem able to agree about initial public offerings is not to trust investment banks. 

Tech news from around the web

An executive at US defence company L-3 Communications warned employees last month that hackers were targeting the company using inside information stolen from a breach at RSA Security, Wired reports. The L-3 attack makes the company the second hacker target linked to the RSA breach.  It was revealed at the weekend that Lockheed Martin had also suffered an intrusion

Joseph Menn

Alibaba Group chief executive Jack Ma said on Wednesday that he expected his fight with the company’s largest shareholders, Yahoo and Softbank, would end with an amicable resolution despite what he said were complex “peace talks.” 

Richard Waters

As expected, Steven Sinofsky, head of Microsoft’s Windows division, has just been providing a first look at the all-important Windows 8 user interface at the D9 conference in California. And also as expected, it bears a striking resemblance to the company’s Windows Phone 7 interface.