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
China’s mountainous Guangxi Zhuang Autonomous Region has little of the wealth and fast development of the places in China foreigners have already heard of, but on one key measure of economic development, Guangxi is winning — the growth rate of spending online.
Online shopping throughout China is expanding fast – far faster than the US and Europe – but it’s growing particularly fast in China’s poorer regions like Guangxi, where malls are sparser and the number of people getting online for the first time is greater. Read more
Nutanix, which looks like being the next billion-dollar start-up to emerge from the revolution sweeping through data centre technology, is nothing if not bold.
That extends to a new $156m round of financing announced on Tuesday which includes a $55m slice of debt – a hefty commitment for a company that only began to generate revenue two years ago and has yet to turn cashflow positive. But Goldman Sachs and Morgan Stanley are already jostling for prime position in a future IPO. Read more
The $3.2bn acquisition of Nest will bring a whole new class of personal data under Google’s control: information about what happens inside your home. So it’s not surprising that privacy questions are already looming large.
In an interview on Monday afternoon, Nest’s co-founder and chief executive Tony Fadell told the FT that he sold the “smart home” company to Google because he wanted to focus on new product innovations, not worry about managing the behind-the-scenes infrastructure that handles all the data generated from its “Learning Thermostat” and “Protect” smoke alarm, and to ensure the company stays ahead of mounting competition. Read more
The taxi industry’s war on app-enabled chauffeur services such as Uber has broken out into physical combat on the streets of Paris. During a strike by French cab drivers who are protesting against the rise of what are locally called “voitures de tourisme avec chauffeurs”, several drivers and limos who crossed the picket line were attacked, with windows smashed and tires slashed. Read more
After five years of trying, online investment management firm Wealthfront seems to have hit on a formula that works. Its assets under management jumped nearly five-fold last year to top $500m.
Of course, this hardly counts as a drop in the bucket in an industry where huge scale really matters. Vanguard and Charles Schwab count their assets in the trillions. But it hints at a fast-growing opportunity for new online financial brands if they can hit the right formula – as online credit firm LendingClub has also proved. Read more
The verdict is in and it’s unanimous. The best gadget of this week’s Consumer Electronics Show 2014 is not a curved television, a health-tracking wristband, a Bluetooth speaker or a connected car; in fact, it’s not even a finished product. Yet the latest prototype of the Oculus Rift virtual-reality headset has so excited attendees that tech blogs the Verge and Engadget – not to mention this FT reporter – have named it their “best in show”. Read more
CES this year has been a sprawling, lively affair with errant film directors on stage, bendy TVs and more drones than you can shake a stick at, but one clear theme has emerged: a lot of tech companies are betting that in the near future, everything will be connected to the internet, all the time.
What might such a future look like? If IBM has its way these ‘connected devices’ – be it pieces of clothing, appliances or cars – would be able to respond in smarter and more natural ways. Then again, your appliance will probably just spend all day trash-talking you. Read more