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Cody Wilson’s move hits back at efforts by the Bitcoin trade body, businesses and investors who have been working with officials mainly in the US to press for acceptance of virtual currencies and hasten their integration into mainstream financial systems. Read more
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
The most interesting nugget in Yahoo’s second-quarter earnings presentation is arguably not the web portal company’s own performance; but rather that of Alibaba, the Chinese ecommerce company in which Yahoo holds a 24 per cent stake.
With Alibaba gearing up for its highly anticipated initial public offering, the eye-popping numbers revealed on Tuesday by Yahoo are a must read for any potential investors.
If you predicted the bubble and bust in the Bitcoin market would kill off the nascent virtual currency, well, the very best you could say is that you’re early, writes Stephen Foley.
In fact, dating site OkCupid is going to start accepting payment in Bitcoin from tomorrow, the biggest brand name so far to join the Bitcoin economy. Since the site is part of Barry Diller’s IAC media empire, this gives the currency a toehold in a major corporation. Read more
Apple has bought WifiSlam, an indoor mobile location service, as the Silicon Valley giant continues to compete with Google in mapping capabilities.
The deal closed recently for $20m, according to a report by the Wall Street Journal, citing an unnamed source.
WifiSlam’s technology uses ambient wireless signals that are already present in buildings to pinpoint the location of smartphones, as opposed to the space-based satellite signals relied upon for larger-scale GPS mapping and navigation systems. Read more
Publishers may take a cue from the software industry as they regroup from a decisive loss in the US Supreme Court over copyright rules.
After failing to persuade the justices to protect their foreign-made titles from resale in the US in the Kirtsaeng v Wiley case, publishers must instead rethink their international business practices.
While traditional publishers of books, music, and film have generally viewed the computer industry as a foe in various policy battles, it could find a saviour in borrowing its concept of software licensing agreements and applying them to physical goods. Read more