Former Travelocity CEO Michelle Peluso Named As Gilt Groupe CEO

Michelle Peluso has left Citigroup to become the CEO of Gilt Groupe Inc.  She was the global consumer chief marketing Internet officer at Citigroup at the time that she decided to quit.  Gilt Groupe eventually plans to go public.  Peluso is replacing Kevin Ryan, one of the founders of the company.  Peluso had been a board member of Gilt since October 2009.  Peluso joined Citigroup in 2009 after serving as the CEO of Travelocity since 2003.

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Citigroup Analyst Mark Mahaney Fired After Sending Confidential Facebook Details To TechCrunch

Citigroup has fired technology analyst Mark Mahaney.  This is because a Massachusetts securities regulator fined Citigroup $2 million for disclosed confidential information to journalists at popular technology blog, TechCrunch.com.

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Knight Capital Considers Filing A Lawsuit Against Facebook Over IPO Losses

Knight Capital Group Inc. is considering a lawsuit against Facebook to recoup the losses from errors caused during the Facebook IPO.  Knight Capital, an electronic trader company, saw their quarterly profit dropped by 81%.

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Palo Alto Networks Files For IPO

Palo Alto Networks has filed a statement to go public with the SEC this morning.  They expect the price of the IPO to be at between $34-$37 per share.  Palo Alto Networks plans to sell 6.2 million shares including the 1.5 million from selling holders.

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Citi: YouTube To Generate Over $3.6 Billion In Gross Revenue

YouTube is burning a hole in Google’s pocket because of bandwidth costs, but at the same time the video website is making a solid amount of money these days too. According to Citi’s Mark Mahaney, YouTube should generate over $3.6 billion in gross revenue this year. YouTube’s current traffic growth is 20% quarter over quarter. Mahaney is bullish about the early results from YouTube’s “channel” project. Mahaney said that his 2012 revenue estimate “is likely 50% greater than Yahoo!’s Display Advertising total and right-in-line with Netflix’s total subscription revenue. We really doubt whether most investors realize how big/important YouTube has become.”

How BATS Had One Of The Most Disastrous IPO Experiences

Bats Global Markets is a 6 year old equity exchange that had to cancel their IPO after errors on their own computer systems derailed trading and caused a halt in Apple. Bats withdrew their IPO as a result of the errors.
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Yelp Files For $100 Million IPO

Yelp is a local business review website that has filed for a $100 million IPO. Goldman Sachs, Citigroup, and Jefferies are working as the lead underwriters. However the San Francisco based company has not selected an exchange to be traded on. Yelp is using multiple classes of shares for the public offering.
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