Twitter was sued for $124 million on Wednesday by two companies claiming the social media darling fraudulently had them organize a private sale of its shares to stoke investor interest for an initial public offering then canceled it.
In a lawsuit filed in U.S. District Court in Manhattan, Precedo Capital Group Inc and Continental Advisors SA accused Twitter of using the aborted sale as a way... » more
Software gets no respect. It’s the Rodney Dangerfield of the tech industry -- always the underdog, and yet somehow, always around.
Microsoft has monopolized the PC industry for decades. Google’s control of Websearch is uncontested. Adobe and Symantec may as well be unmovable objects, and despite the perennial threat from cloud competitors, SAP and Oracle are as profitable and healthy as ever.... » more
EBay ratcheted up the competition for speedy delivery service with its acquisition this week of Shutl, a four-year-old venture capital-funded start-up based in London that offers “same-hour” delivery service, or as close to it as is humanly possible.
Its biggest rival could have told eBay that fast delivery is one tough business nut to crack, and it’s not cheap, either.
Ironically, eBay’s... » more
Tesla, the California-based electric luxury sports car company founded by Elon Musk, has often said that China will be critical to the company's growth, though Musk has been vague on plans for entering the Chinese market.
As such, progress has been slow: A flagship showroom in Beijing, which would have been the first on China's mainland (there is a showroom in Hong Kong) had to be put on hold... » more
Twitter aims to launch its IPO on Nov. 6, the New York Post reported Thursday.
The stock offering is being handled by Goldman Sachs and Morgan Stanley, with JPMorgan Chase also chipping in — and the investment banks reportedly are ready to start making their pitches to investors on Monday.
Twitter said on Thursday that it intends to sell 70 million shares priced between $17 and $20 in... » more
A 30-year-old man was indicted in New York State Supreme Court yesterday in the sexual abuse of a 2-year-old girl in a Riverside Park bathroom stall on Sept. 24, according to Manhattan District Attorney Cy Vance.
Jason Carroll of Manhattan was indicted on two counts of predatory sexual assault, a class A felony. He faces a possible maximum sentence of 25 years to life if convicted.
Carroll... » more
Just when we thought we had Apple all figured out, the company still manages to surprise us. Not only that, it surprised us in the way it surprised us.
Yesterday, Cupertino ventured upstate to San Francisco and held its annual fall press event to showcase its newly revamped iPad line as well as some incremental updates to the MacBook Pros, a brand new Mac Pro desktop, and new versions of its... » more
A "careless discard of smoking materials" on a front porch is believed to have caused a massive fire in Flatbush early yesterday morning that reportedly left more than a dozen people homeless, according to the FDNY.
Thirty-three trucks and 138 firefighters battled the three-alarm blaze at the three-story home, which broke out at 1063 East 35th St. near Flatbush Avenue shortly before 4 a.m.,... » more
Have you looked at Amazon.com’s home page lately? The ads rotate often, but somewhere around the upper right corner of the page, near the ad for the Halloween Shop, you’ll see a new ad. Yep. It’s the Holiday Toy List.
Before we’ve even handed out the fun-size Halloween candy bars, the countdown to the year-end holidays has begun, complete with Daily Lightning Deals on gifts for all ages.
This... » more
It was 1998 when South Park introduced us to the underpants gnomes, a group of subterranean entrepreneurs trafficking in dirty laundry. They had a three-step business plan:
1. Collect Underpants
In the 15 years since "Gnomes" first aired, these little guys have become a kind of grand metaphor, cited by the New York Times, Forbes, and the Wall Street... » more