Pulse2 Technology and Social Media News » Bloomberg L.P.

Gene Munster: “Google Has Given Up On Social” [BLOOMBERG INTERVIEW VIDEO]

Amit Chowdhry — Wed, 05 Jan 2011 21:12:39 +0000

Gene Munster is a technology analyst that works for Piper Jaffray. He is well known for doing research on Apple forecasts as well. In the above video, Munster did an interview with Bloomberg to discuss his thoughts on Google vs. Facebook. In the interview Munster bluntly stated that “Google has given up on social” and Facebook is the clear winner. He also said that Facebook is what Google was 5 years ago and Google is now a Microsoft because they are not innovating as fast as they have been in the past. [BusinessInsider]

Bloomberg: Google Saved $3.1 Billion In 3 Years Because Of Tax Loopholes

Amit Chowdhry — Thu, 21 Oct 2010 22:05:03 +0000

Bloomberg did some research about how tech companies used a strategy called “Double Irish” and “Dutch Sandwich” to reduce overseas tax rate to 2.4%. Google Inc. (NASDAQ:GOOG) was able to cut their taxes by $3.1 billion in 3 years by moving foreign profits through Ireland and the Netherlands to Bermuda.

Google, Facebook, and Microsoft takes advantage of Irish tax law to legally move profits into and out of subsidiaries there. This way they can escape the country’s 12.5% income tax. Then the earnings end up in island havens that have no corporate income taxes at all. The Double Irish arrangement lets these companies avoid taxes at home.

[Bloomberg]

Bloomberg: Verizon Wireless Will Start Selling The iPhone In January

Amit Chowdhry — Wed, 30 Jun 2010 16:12:22 +0000

According to Bloomberg sources, the largest U.S. mobile phone company Verizon Wireless will soon start selling the Apple iPhone for their network. As of right now the iPhone and other Apple products exclusively work on AT&T’s network since June 2007.

Verizon has about 92.8 million customers on their network. In January, Verizon plans to unveil a number of devices that will work on 4G technology at the Consumer Electronics Show.

Apple has sold over 50 million iPhones since 2007 and the iPhone 4 sold 1.7 million units within 3 days.

[Bloomberg]

Reliance Capital Buys 18% Of Bloomberg UTV

Amit Chowdhry — Sat, 19 Jun 2010 15:49:59 +0000

Reliance Capital has acquired 18% of Bloomberg-UTV. Now Bloomberg owns 15% of Bloomberg UTV and UTV founders own 67%. Bloomberg UTV is a partnership between Bloomberg and UTV founder Ronnie Screwvala. UTVi was rebranded to Bloomberg UTV after Bloomberg bought a 15% stake around October 2009. [VCCircle]

Bloomberg Buys Government Data Company Eagle Eye Publishers

Amit Chowdhry — Mon, 22 Feb 2010 17:26:07 +0000

Bloomberg has acquired Eagle Eye Publishers, a Fairfax, Virginia based government data publishing company. Bloomberg most recently acquired BusinessWeek and New Energy Finance. [paidContent]

Bloomberg Interviews Wikipedia Founder Jimmy Wales [VIDEO]

Amit Chowdhry — Tue, 22 Dec 2009 19:58:57 +0000

Wikipedia founder Jimmy Wales was on Bloomberg TV earlier this week to clarify that there has not been a mass exodus of voluntary editors. Wikipedia is still very much driven by the community.

Wales also revealed some interesting numbers about Wikipedia. To maintain Wikipedia, it costs around $10 million per year. The website survives primarily off of donations. So far Wikipedia has over $3 million in donations for the year.

Personally I’m impressed by how little it costs to maintain Wikipedia. On a per day basis, it costs about $27,397.26 to keep Wikipedia running.

What about some of the other top websites? As a comparison, YouTube costs about $2 million per day in just storage and bandwidth. Facebook most likely costs close to $300,000 per day considering that they are hosting 10 billion photos. In 2007 and early 2008, Facebook spent around $67 million on rackable servers. Facebook most likely spends $500 million per year between servers, employee salaries, infrastructure, office space, and other miscellaneous costs.

Below is a video of the interview [via BusinessInsider]:

Bloomberg Acquires Energy News Publisher

Amit Chowdhry — Fri, 11 Dec 2009 00:01:00 +0000

Bloomberg has bought out New Energy Finance, a United Kingdom based company that publishes news about carbon and clean power. This acquisition has taken place shortly after the finance publication company bought out BusinessWeek.

“This acquisition is the next step in Bloomberg’s initiative to develop and promote the carbon and clean energy markets,” stated Bloomberg Chairman Peter T. Grauer. “Carbon and clean energy issues touch every segment of the global economy, and are of increasing importance to our customers. Bloomberg’s vision is to be the leader in information, analytics and trading architectures to support low-carbon energy solutions.”

Bloomberg Wins Acquisition Bid For BusinessWeek

Amit Chowdhry — Wed, 14 Oct 2009 15:48:23 +0000

Bloomberg LP has won the acquisition bid for BusinessWeek. Bloomberg is the the financial company built by current New York Mayor Michael R. Bloomberg. The terms of the deal are not known, but it is rumored to be worth about $2-$5 million in cash and Bloomberg will be responsible for the liabilities of the news print company. These liabilities may include severance payments.

BusinessWeek employs about 400 people and several of these jobs will be cut. The parent company of BusinessWeek is McGraw-Hill. The news print business as a whole has been suffering as many readers have been turning to the Internet for real-time news. As part of the deal BusinessWeek editor-in-chief Steve Adler announced that benefits will be given to employees for about one year after the deal closes.

“The reporting and analytical resources of Bloomberg and BusinessWeek are unparalleled in their ability to deliver timely, distinctive and credible content to an influential and highly sought-after audience,” stated Bloomberg LP Chairman Peter Grauer. BusinessWeek is Bloomberg’s first major acquisition ever.

Bloomberg and UTV Partner To Launch Finance News Channel In India

Amit Chowdhry — Thu, 10 Sep 2009 22:03:44 +0000

Bloomberg and UTV are partnering up to create a new finance channel in India. The business news channel in India called UTVi will be re-branded as Bloomberg-UTV. This will give people with a TV in India access to Bloomberg Television as a premium channel.

“The BLOOMBERG TELEVISION network is excited to be joining forces with UTV in providing a business and financial news channel with remarkable breadth and depth of reporting for the Indian market. We will welcome 30 million households in India to Bloomberg’s community of more than 200 million television households, who make up the most affluent and influential audience in the world,” stated Bloomberg Multimedia group CEO Andy Lack. “By working with UTV to realize our shared vision for business and financial television, Bloomberg renews its commitment to delivering business, economic and political news and analysis to viewers in India, and at the same time to delivering news about one of the world’s most dynamic economies to investors across the globe.”

Another result of the partnership announcement is that UTVi.com will be re-branded as bloombergutv.com. This website will have content powered by Bloomberg too.

Kevin Krim Leaves Yahoo! For Bloomberg

Amit Chowdhry — Mon, 06 Apr 2009 19:26:54 +0000

Kevin Krim is one of the latest executives to step down from Yahoo! He is leaving the search engine company to join Bloomberg where he will be responsible for the redesign of Bloomberg.com.

One Yahoo! employee claims that Krim was rising star and was going to get a chance at Yahoo! Finance and Yahoo! News. But another employee says the exact opposite: Krim wasn’t a rising star and wasn’t any closer at running Yahoo! Finance.

Before working at Yahoo!, Krim worked for Noe Ventures LLC as a Principal, Livejournal.com as a General Manager, and LookSmart as Vice President.

[via AlleyInsider]