Yahoo has lost its chief operating officer who was in charge of steering the internet company’s advertising business, as it continues to lose share in the digital ad market.
Henrique de Castro is leaving swiftly after reports he fell out with Marissa Mayer, who poached him from her former home Google as part of her turnaround plan for the purple-plastered company. Read more
Twitter co-founder Biz Stone has unveiled his much-anticipated new product, a search engine for social networks called Jelly.
Jelly is designed for users to tap the knowledge of their networks, sending photos and asking questions of their friends and friends of friends. Mr Stone, who left day-to-day operations at Twitter a couple of years ago, co-founded the company in April but until now the product had top secret. Read more
President Barack Obama will meet technology leaders on Tuesday morning for a two-hour discussion about everything from the National Security Agency’s mass surveillance programme, to how the industry can address income inequality.
Big name tech executives from the eight companies which called on the US government to stop the spy agencies collecting such vast amounts of communications data will be pressing their case home “aggressively”, according to a spokesperson for one of the companies. Read more
Apple, the world’s largest public company by market capitalisation, has a problem. The lawyer appointed to ensure it is not price-fixing e-book sales is just too expensive.
The iPhone and iPad maker complained to the New York court this week that Michael Bromwich’s $1,100 an hour fee is “excessive” and he has not justified it as either “reasonable” or customary”. Read more
Until Twitter revealed its list of principal shareholders in its initial public offering filing, few knew who actually owned the company.
But now a new book published on Tuesday reveals how three co-founders split the stock and why Evan Williams may be the only one to become a billionaire from the offering.
Pinterest – the online scrapbook which started to show adverts just this month – has been valued at whopping $3.8bn in its latest round of fundraising.
This more than 50 per cent rise in valuation in only eight months shows investors have faith the site is transforming from the home of Mid-Western wedding planners to a store front for big brand marketers. Read more
By Hannah Kuchler in San Francisco and Arash Massoudi in New York
Any worries that Alibaba, China’s largest e-commerce company, would not be able to list its shares in the US appear to have been put to rest. The company, which is preparing for an initial public offering in the coming months, has received assurances from the New York Stock and Nasdaq that the partnership structure for its expected share offering will be permitted under the rules of both exchanges. According to media reports confirmed by a person familiar with the matter, Alibaba will now be able to go public with the structure that the Hong Kong Exchange refused to accept. NYSE, Nasdaq and Alibaba declined to comment. Read more