Tag: commerce

Tech

Blue Apron shareholders file lawsuits alleging investors were misled

Blue Apron’s post-IPO woes continue. The meal-kit delivery company has been hit with multiple shareholder lawsuits this month, all alleging it made misleading statements in its IPO prospectus. The various complaints echo each other in their allegations against Blue Apron, its CEO, CFO, and directors, as well at underwriters of the IPO. Namely, that the…

Tech

Yahoo ordered to pay $5.5 million for busting March Madness deal

(Reuters) — Yahoo Inc owes a prize promoter $5.5 million for backing out of a contract to pay $1 billion for predicting every winner in the 2014 NCAA men’s basketball tournament, and entering a similar contract with Quicken Loans Inc and Warren Buffett’s Berkshire Hathaway Inc, a court decided on Monday. The 5th U.S. Circuit…

Cloud

Cisco to acquire hyperconvergence software company Springpath for $320 million

Networking giant Cisco has announced plans to acquire hyperconvergence software company Springpath in a deal worth $320 million. Founded out of Sunnyvale, California as Storvisor back in 2012, the company launched out of stealth three years later as Springpath. Cisco actually led Springpath’s $34 million series C funding round in 2015, and the duo worked…

Cloud

Samsung launches Relúmĭno app to help the visually impaired see more clearly using VR

The virtual reality (VR) wars are starting to heat up, with HTC announcing earlier today that it was slashing the price of its Vive VR headset from $800 to $600 — this followed a month after Facebook scythed prices for the Oculus Rift headset and Oculus Touch controller . But VR very much remains a niche medium,…

Tech

Alibaba hits record high as markets weigh promise vs. problems

Three years after Alibaba went public in the biggest IPO  on U.S. markets to date, investors are finally warming to the stock. During Alibaba’s high-profile IPO, investors weighed the promise of the company’s business model against its risk factors. On the one hand, Alibaba was laying the groundwork for a retail empire in China, the world’s…

Security

Symantec’s Norton Core Wi-Fi router goes on sale in the U.S. for $280

Software giant Symantec has launched its first piece of consumer security hardware nine months after unveiling it. The Norton Core Wi-Fi router was announced a CES 2017 , with Symantec opening the product for preorders at $200. Now, it’s available to buy across the U.S. at its full retail price of $280. Norton is a…

Cloud

WordPress.com makes it easier for bloggers to accept PayPal payments

WordPress.com is making it easier for bloggers to accept online payments using PayPal. While the web hosting service and publishing giant already supported PayPal payments, the process involved a rather long-winded,  nine-step sequence, starting with having to find your PayPal button code . Moving forward, things will be a lot quicker. “We knew that we wanted…

Tech

Walmart gains on Amazon, but Wall Street wants more

In an ecommerce landscape increasingly dominated by Amazon, Walmart is showing that there is still ample opportunity for growth, although it can come at a cost. Walmart reported financial results for the June quarter today, with many analysts focusing on how its ecommerce business is doing. The company said the gross merchandise value of its…

Tech

B2B data platform ZoomInfo was acquired by private equity firm Great Hill Partners for $240 million

ZoomInfo , the subscription-based B2B platform that sells access to company data such as contact details, employment history, and other background information, was acquired earlier this week by Boston-based private equity firm Great Hill Partners. But the company didn’t reveal how much it was acquired for — until now. A ZoomInfo spokesperson has confirmed to…

Cloud

Alibaba beats analysts estimates with Q1 revenue growth of 56%

(Reuters) — Alibaba, China’s top e-commerce firm, beat analyst’s estimates with a 56 percent rise in first-quarter revenue, driven by growth in online sales which make up most of its business. Thursday’s results show that Alibaba Group Holding, one of Asia’s most valuable companies, is benefiting from more and more Chinese buying an increasing proportion…