Tag Archives: Citigroup Inc.
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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Citigroup Expected To Sell EMI Group This Weekend
Citigroup Inc. (NYSE:C) is nearing a deal to sell off major music company EMI Group for $4.1 billion. Citigroup is talking with Universal Music Group to sell EMI’s recorded music division for $1.9 billion while the publishing division would go to Sony Music for $2.2 billion. Citigroup had first announced plans to sell EMI in June after music distribution and online piracy took a toll on EMI’s profitability. Citigroup is expected to make the official announcement by this weekend. Most likely it would take months to get regulatory approval. [VentureBeat]
Categories Citigroup, Citigroup Inc., EMI Publishing
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Netflix’s Stock Plummets After Company Warns Of More Subscriber Losses
The stock price of Netflix, Inc. (NASDAQ:NFLX) has plummeted about 34% in heavy trading today. This is one day after the company announced a loss of over 800,000 subscribers. The company is also expecting to lose many more subscribers after adjustments to the new separation of DVDs and streaming services model. The stock price is trading at about $78.01 as of the time I am writing this article. Yesterday, the company’s stock was trading at about $93.30. In July, the company’s stock was at $300. Since July, Netflix has lost a market value of about $9.76 billion.
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Categories Citigroup, Citigroup Inc., JPMorgan Chase and Co., Netflix, Reed Hastings
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Pandora Stock Price Increases 60% After Opening, Closes At 9% High
Zillow Hires Citigroup To Manage IPO
Online real estate company Zillow has hired Citigroup to manage a future IPO. The timing of the IPO is not yet known. Zillow is a company where renters and home buyers/sellers can list and search for properties and discover their value. Zillow earns revenue from selling ad space on their website and mobile app. [BusinessWeek]
Categories Citigroup, Citigroup Inc., Zillow
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Citigroup Acquires EMI Music Record Label
Citigroup Inc. (NYSE:C) has acquired Maltby Investments Limited, a financial company that controls the music record label company EMI Group. EMI distributes music for Katy Perry, Gorillaz, The Beatles, Pink Floyd, and Radiohead. EMI’s debt has been reduced by 65% to about $2 billion. Citigroup will also recapitalize the company with about $484 million. EMI’s management will not change and Roger Faxon will remain as CEO.
Sky-mobi Ltd. Is Hoping To Raises $150 Million From IPO
Sky-mobi Ltd. is a China based mobile application store service under the name of Maopao that has filed for an IPO this past Friday. The company is hoping to raise $150 million in the IPO. In a filing with the SEC, Sky-mobile did not specify how many American depositary shares they would be offering. They plan to trade on the Nasdaq Global Market under “MOBI.”
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Citibank Testing New Credit Card Technology To Replace Magnetic Strip
Citigroup Inc. (NYSE:C) is testing a new credit card technology that has two buttons and tiny lights. The new credit cards would allow the consumer to decide whether to pay with reward points or credit.
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Categories citi, Citigroup, Citigroup Inc.
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Former Citigroup Exec Steven Freiberg Becomes CEO Of E*TRADE
E*TRADE Financial Corporation (NASDAQ: ETFC) has hired former Citigroup executive Steven Freiberg as the new CEO. Freiberg worked at Citigroup for about 30 years. He was most recently the Co-Chairman and Co-CEO of Citigroup’s Global Consumer Group. Below is the full press release:
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Categories Citigroup, Citigroup Inc., E*Trade, Steven Freiberg
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