Monthly Archives: January 2011
Borders Close To Getting A $550 Million Loan From GE Capital
Borders Group, Inc. (NYSE:BGP) said this past week that they have received a $550 million in refinancing loan from GE Capital. The company has to meet certain requirements for the loan including converting delayed payments into loans for publishers.
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Categories Borders Group Inc., GE Capital, William A. Ackman
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Ford Had $8.3 Billion In Pre-Tax Profits For 2010
Ford Motor Company (NYSE:F) has announced their biggest annual profit in the last decade. Ford made about $8.3 billion in pre-tax profits for 2010. This is a $3.8 billion increase from about a year ago. Ford had ended 2010 with automotive gross cash exeeding debt by about $1.4 billion. This is an improvement of $10.1 billion for the year ending 2009.
Categories Ford, Ford Motor Company
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Jose Perez Sold A Car On Craigslist And Then Stole It Back [HALL OF SHAME]
A Brooklyn man named Jose Perez, 22, went on Craigslist and put a salvaged vehicle up for sale. The car was a 2004 Nissan Maxima and he used the title from another vehicle to forge the title for the Maxima. Perez also used a different name on the title and bill of sale.
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Categories craigslist, Hall of Shame, Jose Perez
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On Deck Raises $15 Million Series C, Led By SAP Ventures
On Deck is a technology platform company that connects “Mainstreet directly to capital.” The company has raised $15 million in SEries C funding. This round of funding was led by SAP Ventures. On Deck saw 3X revenue in 2010. On Deck created a platform that evaluates the financial health of Main Street businesses. On Deck delivered about $100 million in loans to thousands of Main Street small businesses. Main Street is a metonym for retail areas of a village, town, or small city.
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Categories Mitch Jacobs, On Deck, SAP Ventures
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Indian Daily Deals Website SnapDeal.com Raises $12 Million
SnapDeal.com is the “Groupon of India.” The company supports major cities in across the Asian subcontinent. Some of the group coupons I have noticed include massage, hair cuts, Pizza Hut, beer deals, etc. SnapDeal.com has raised $12 million in a round led by Nexus Venture Partners and IndoUS Venture Partners.
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Zferral Buys SaaS App Store Company Cloudomatic
Zferral is an affiliate management company that has acquired software-as-a-service web app store company Cloudomatic for cash and equity. Cloudomatic was co-founded by Jason Baptiste and Andres Barreto. The two will remain at the company as advisors.
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Categories Cloudomatic, Zferral
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TweetDeck Working On Making Tweets Longer Through Deck.ly Service
TweetDeck is testing out a new service that would extend beyond Twitter’s 140 character limitation called Deck.ly. This is interesting because Twitter has been filling in holes in their services over the last year by creating products which would directly compete with third parties. Now TweetDeck is working filling in a hole that Twitter has in their whole business model.
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Categories Deck.ly, Iain Dodsworth, TweetDeck
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LinkedIn Files To Go Public, Acquires CardMunch
Professional social network LinkedIn.com has filed to go public. LinkedIn is currently hitting about $200 million in anunal revenues. This is up 200% from about a year ago. With a 10x valuation, LinkedIn is expected to have a $2 billion market cap. This means that founder Reid Hoffman’s 21.4% stake would be worth around $430 million. LinkedIn CEO Jeff Weiner would be worth $80 million. Sequoia Capital’s $4.7 million investment in the company would be worth $380 million. LinkedIn also recently acquired CardMunch, a business card reading application for the iPhone.
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Categories CardMunch, Jeff Weiner, LinkedIn, Reid Hoffman, Sequoia Capital
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Michael Dell’s Brother Adam Suing Padma Lakshmi For Baby Custody
Actress and model Padma Lakshmi is being sued by the brother of Michael Dell over custody of their baby. Adam Dell is a venture capitalist and a professor at the Columbia University Business School. As of right now Adam Dell only gets to see baby Krishna 7 hours per week in between Padma’s schedule. He also wants Padma and Krishna to take his surname. “It appears to us that Mr. Dell remains more interested in garnering media attention than working out details to see Krishna or in her welfare,” stated Padma’s spokesperson. Apparently Dell had to fly to the Bahamas in January to spend the few hours with his daughter.
Categories Adam Dell, Padma Lakshmi
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Sony Announces PlayStation Suite For Android and New Sony PSP
Sony has announced that the Sony PlayStation Suite will be available on Android phones and on the new PSP. This means that Android and PSP users will be able to purchase and play PlayStation 1 gaming titles on their devices. Android OS 2.3 (Gingerbread) will be required for the games to work. Sony will also soon be announcing a new PlayStation Portable. The new PlayStation Portable has the codename NGP (next generation portable). The NGP will have a 5-inch touchscreen, WiFi, and 3G.
Categories Android, Google Android, Sony, Sony PlayStation, Sony PlayStation Suite
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