Yahoo!’s Mexican Lawsuit Gets Reduced From $2.75 Billion To $172,500

In December 2012, we wrote about Yahoo! was ordered by a Mexico City Court that they need to pay a $2.75 billion fine for a breach of contract to Ideas Interactivas and its parent company World Wide Directories related to releasing a printed Yellow Pages of business telephone numbers in Mexico. Fortunately Yahoo!’s fine has been dropped to $172,500 based on an appellate court decision in Mexico. The fine will be paid by Yahoo! Mexico.

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May 17, 2013

Amit Chowdhry

Y Combinator Names Andrew Mason, Kevin Hale, Michael Seibel, Steve Huffman, and Dalton Caldwell As Partners

Paul Graham, the co-founder of Y Combinator, wrote in a blog post that the seed accelerator program has hired Andrew Mason, Kevin Hale, Michael Seibel, Steve Huffman, and Dalton Caldwell as partners. Kevin Hale will be a full partner and the others will be part-time partners.

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May 17, 2013

Noah Long

Business Process Management Company BonitaSoft Raises $13 Million

Bonitasoft Logo
BonitaSoft is a business process management company that has raised $13 million in a third round of funding. Bonita has three major solution products including process modeling, a workflow engine, and a breakthrough user interface to create process-based applications. The company sells subscriptions in several tiers. BonitaSoft has raised $13 million in a Series C round of funding.

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May 17, 2013

Amit Chowdhry

Tableau Software, Inc. (DATA) Stock Price Surges Over 50% In Public Debut

Tableau Software Logo
Yesterday Tableau Software, Inc. (NYSE:DATA) boosted their proposed price for their initial public offering. The company went public today on the New York Stock Exchange with the symbol “DATA.” The company priced their shares at $31. As of the time that I am writing this, the stock price is trading at over $17 from the opening price at about $48.81. The company offered five million shares and stockholders are offering 3.2 million shares. This is the biggest tech IPO for the year as it values the company at over $1.5 billion. The offering will bring in $254 million before expenses and other fees.

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May 17, 2013

Noah Long

SINA Corp (SINA) Revenues Increases To $126 Million For YOY Q1 2013

SINA Corp (NASDAQ:SINA) has reported their Q1 2013 results. The increased their revenues and saw net losses reduced to $13.2 million. This is down from a loss of $13.7 million one year earlier. Sina recorded overall net revenues of $126 million, which is up from $106.2 million for the same period in 2012. The company’s advertising revenues increased 20% year-on-year to $94.3 million. Non-advertising revenues were also up with a rise of 14% to $31.7 million.

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May 17, 2013

Dan Anderson

Facebook Hires Atsushi Iwashita As Head Of Japan Division

Facebook has hired a new executive in Japan. Atsushi Iwashita (pictured) is a former marketing executive at McDonalds and Boston Consulting Group. Iwashita will work as a Managing Director at Facebook Japan as reported by Markezine. Iwashita was most recently the CEO of a brand consulting company called Interbrand Japan.

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May 17, 2013

Annie Baker

Microsoft Corporation (MSFT) Chairman Bill Gates Is Now The Richest Man In The World Again

Microsoft Corporation (NASDAQ:MSFT) chairman, co-founder, and former CEO Bill Gates is now the richest man in the world again, according to Bloomberg. Gates was previously dethroned by Mexican telecommunications mogul Carlos Slim back in 2007. Gates still owns 436 million shares in Microsoft and the stock price of the company is now at a five-year high, up 27% this year alone. This increased Gates’ wealth on paper. Gates is now worth around $72.1 billion, which is over half a bill dollars ahead of Carlos Slim.

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May 17, 2013

Amit Chowdhry

Samsung Electronics Co., Ltd. (005930) Galaxy S4 Hits 10 Million Unit Sales In Under A Month

According to a report by the Korea Times, Samsung Electronics Co., Ltd. (KRX:005930) is expected to surpass 10 million unit sales of the Galaxy S4.
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