NEWLY minted world number one Angelique Kerber warned Sunday that Serena Williams will come back strong after the German stripped her of her long-held position atop the rankings.
Updated 4 Years ago

The numbers are in for Facebook Inc.’s acquisition of mobile-messaging application WhatsApp Inc.: The social network paid $22 billion for a startup that generated $10.2 million in revenue last year. In a regulatory filing yesterday, Facebook disclosed WhatsApp’s financial results for 2012 and 2013. The messaging service, which reached 400 million active users in December, generated less than 3 cents in revenue for each one last year. By comparison, Facebook paid $55 per user when it acquired the company. WhatsApp’s net loss was $138.1 million for 2013.
Updated 6 Years ago

Shares in the social network fell almost 10% in after hours trading after it said expenses would be up to 75% higher next year. The warning came after it reported third quarter revenues of $3.2bn (£1.98bn) well ahead of analysts' forecasts.
Updated 6 Years ago

Yes, Mark Zuckerberg started Facebook at 19. But Charles Flint launched IBM at 61. While Hollywood may love the story of the college kid who starts a billion-dollar business out of his dorm room, that’s only one story. For many, life as an entrepreneur begins much later.
Updated 6 Years ago

News outlet Quartz described his 30-minute chat as making him sound "like someone was stepping on his face". Others were kinder. "This CEO is so cool, I want to cry," wrote one. Fellow chief executive - Apple's Tim Cook - was also in China, questioning officials about an alleged hack of its iCloud service.
Updated 6 Years ago

The idea to develop huge unmanned aircraft comes from Facebook's Connectivity Lab, set up by company founder Mark Zuckerberg. The aim is to make the internet available to two-thirds of the world's population who can't currently get online. They say expanding internet access would create another 140 million jobs. And they say it could help lift 160 million people out of poverty, and reduce child mortality.
Updated 6 Years ago

The stock market value of Facebook passed the $200 billion mark for the first time on Monday, surpassing Google in terms of the pace of its increasing market capitalization. The social network is now worth more than technology old-timers such as IBM, Intel and Oracle, as well as Toyota, Coca-Cola, and Bank of America, standing on a par with HSBC.
Updated 6 Years ago

Facebook Inc. (FB)’s market value exceeded $200 billion to put it among the world’s biggest corporations, as investors bet on the company to capitalize on the future of mobile advertising. Facebook shares rose 0.8 percent to $77.89 at yesterday’s close in New York, valuing the company at $201.6 billion, according to data compiled by Bloomberg. That made it the 22nd-largest company in the world, behind Verizon Communications Inc. and ahead of Toyota Motor Corp.
Updated 6 Years ago

So you have the Big Idea. You have the passion. You have the business plan. You can see your future success. All you need now is money in the bank, right? Probably nine out of 10 startups are where you are, in need of operating capital. There’s no question ample cash reserves make launching a new business considerably easier, yet it’s possible to bootstrap a product, even a company, without investors or a big credit line.
Updated 6 Years ago

Facebook is going head to head with rival Snapchat in the video-chat app market as the social networking group scrambles to win back users from the popular ephemeral messaging app. Facebook has been working for several months on the app, known internally as Slingshot, with a simple and speedy user interface, said people familiar with its plans. Mark Zuckerberg, Facebook's chief, has been overseeing the top-secret project after failing to woo Snapchat's creators Evan Spiegel and Bobby Murphy with a $3 billion takeover offer late last year.
Updated 6 Years ago