China’s biggest ecommerce company, Alibaba, has joined the growing enthusiasm for cloud storage applications, buying Kanbox for an undisclosed amount.
Kanbox offers free storage for documents, photos and other files, bringing Alibaba into competition with other Chinese heavyweights Tencent and Baidu, which offer similar services. The company raised $20m in Series B funding two years ago, so the acquisition value is likely to have been several hundred million dollars. Read more
Acer, the Taiwanese computer company, has struggled for a while to sell enough computers to stay profitable, but investors still found room for disappointment in its most recent results.
Shares were down nearly 4 per cent in Taipei today after management spoke with analysts and the media to explain its second quarter operating loss of NT$613m and its 19 per cent year on year fall in revenue to NT$89.4bn. Read more
A South Korean website has unearthed trademark and patent filings by Samsung regarding a possible smartwatch. That’s a reminder that – while Samsung and Apple squabble over old intellectual property – they will soon have a whole new set of designs to fight over.
In the drawings, Samsung’s device looks like a smartphone bent round a wrist. Unlike similar products from Sony, LG and Pebble, it has a flexible screen rather than the familiar usual strap. Read more