Internet

Tim Bradshaw

What a difference a month makes. When Box filed to go public in late March, hot tech stocks such as Google, Facebook and Tesla were trading at close to their all-time highs.

Now, the cloud storage company’s timing looks a little less fortuitous. A month after the “tech rout” began, the financial markets don’t look quite so welcoming to a fast-growing but heavily loss-making new listing, however ‘sexy’ its enterprise technology might be. Read more

Just weeks after internet security experts scrambled to patch up vulnerabilities exposed by the Heartbleed bug, a flaw has been found in Microsoft’s Internet Explorer software that is so serious the US department of homeland security is warning people and companies to avoid using the browser.

Should I be worried? Read more

Alibaba is taking a minority stake in China’s largest online video site, Youko Tudou, as it prepares for its own blockbuster initial public offering in the US.

Youko Tudou said on Monday that the Chinese e-commerce group, together with its founder Jack Ma’s Yunfeng Capital, would jointly invest $1.2bn in the video site.

Alibaba will hold 16.5 per cent stake in Youku after the deal, with Yunfeng holding 2 per cent. Read more

While older industries still struggle with the digital transition, those one step ahead are toiling with the mobile one. Read more

Twitter has announced the acquisition of Gnip – one of only two companies it originally gave access to the “firehose” of trillions of tweets – as the social media company pursues revenues through selling analytical services. Read more

The Heartbleed bug, a flaw discovered on encryption software used on about two-thirds of all websites, was created unintentionally, the programmer responsible has said.

Robin Seggelmann, a German programmer, described the flaw as the consequence of a “trivial” error in an update to OpenSSL, the software widely used to enable secure connections, writes Jeevan VasagarRead more

Tim Bradshaw

Dropbox chief Drew Houston is preparing for life as a public company executive.

In an interview with the FT after Wednesday’s launch of Carousel, a new photo-sharing app, and a suite of other new products, Mr Houston didn’t even wait for the inevitable question about an initial public offering to address the topic.

“We will continue to surround the company with great advisors, board members and other folks who have public company experience,” he said. “I’m not worried about the tactical side of operating as a public company.” Read more

Mike Judge on set with the cast of Silicon Valley

Could there be a better-timed comedy series than HBO’s new Silicon Valley? The tech hotspot has never been hotter. And the opportunities for satire have never been funnier.

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Tim Bradshaw

Want to hear a Silicon Valley joke? Two geek billionaires walk into a coffee shop and nobody notices.

There’s no punchline. This actually happened a couple of weeks ago when I was in Mountain View and the co-founders of WhatsApp popped into their local for a brew. Despite being full of start-ups, nobody in the Red Rock Café seemed to recognise the pair who had just sold their app to Facebook for upwards of $16bn.

WhatsApp has almost 500m active users around the world but many in Silicon Valley’s elite only discovered the chat app when Mark Zuckerberg opened his chequebook. It’s entirely possible that, in the past year, more people here have tried Google Glass, the sci-fi headset that most outside Silicon Valley love to hate, than sent a message on WhatsApp. Read more

The prospect of a US-based IPO by Chinese e-commerce juggernaut Alibaba has triggered a recent wave of short-term conjecture over the eye-watering figures involved.

A listing could garner as much as $25bn for example – making it the largest float in history. Wall Street banks could reap up to $400m in fees. Alibaba’s $170bn annual revenue now accounts for 2 per cent of China’s gross domestic product, and is bigger than those of eBay and Amazon combined.

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