Did Rupert Murdoch wait way too long to fix MySpace? It’s easy to get that impression from the News Corp. earnings call today.
The takeaway: The site is losing traffic and money and is going to get at least $100 million less from Google than it once thought. “It’s a work in progress,” News Corp. says, over and over again.
Rupert Murdoch and company aren’t exactly celebrating, but they did provide a better earnings number than Wall Street expected. They can thank Fox News, and yet another “Ice Age” movie. Not helping the cause: The company’s broadcast TV and newspaper properties. Not very relevant: MySpace, et al.
Wouldn’t you like to bump elbows with media moguls and hear from the likes of Eric Schmidt, Biz Stone and James Murdoch? Me too! Alas, Quadrangle’s Foursquare conference is closed to the public and the press. But at least I can tell you whom you won’t be hearing from.
Last week, Jeff Bezos made $2 billion in one day, courtesy of a massive spike in Amazon shares. That gives him more money to plow into the likes of Aviary, a Long Island-based company that makes design software. The Amazon CEO has made a second investment in the company as part of a $7 million round led by Spark Capital.
Here’s a good way to get your hands on scarce venture capital money: Create a start-up geared around Twitter-like “real-time” sharing and conversations. The newest entrant: Hot Potato, a buzzy start-up that’s supposed to let users converse about a particular event, whether they’re attending it in person or watching from afar. When it’s up and running, that is. The five-man crew doesn’t have users or a product just yet. But it has just raised around $1 million.
It’s easy to get the impression that everyone uses Twitter. And many people do! But new statistics indicate that four of five Web users are still Twitter-free. Worth keeping in mind as Google and Microsoft start plugging tweets into search results.
A marketer offers to pay me per post. I don’t know whether to be flattered or offended.
Now that Twitter doesn’t have to worry about raising money ever again (right?), it can spend time tackling all sorts of projects, big and small. Here’s one of the small ones: The company has created a better way for users to flag spam accounts. The big stuff? Coming up.
Twitter’s status site said this yesterday: “We’re currently diagnosing the causes of an unplanned site outage that happened a few minutes ago. We are recovering from this issue now and apologize for the interruption in service.”
Google CEO Eric Schmidt used the opening moments of a New York City press conference to reinforce a message he’s been delivering for several weeks: The worst is over, things are looking up, and Google is spending accordingly.
Not included in the long list of investors betting $100 million on Twitter today: Union Square Ventures, one of the messaging service’s most prominent backers. What happened? Best guess: The $1 billion valuation priced the early investor out.
Good news (potentially) for T. Rowe Price and the other investors plowing $100 million into the revenue-free start-up: The service’s users absolutely love clicking on ads, says a new study.
CEO Carol Bartz explains what Yahoo is getting for its $100 million ad campaign, its first global marketing effort, which was launched today in New York during Advertising Week.
Here’s the rundown of Bartz’s press conference on the branding blowout.
It has been easy enough to be skeptical about Twitter’s influence and staying power–I do it all the time. But there’s no denying that Twitter has become a powerful driver of Web traffic.
Just ask the New York Times, which says Twitter is about to become one of the top 10 referral sources to the paper’s site.
Impressive. But what exactly does this mean?
Is Twitter a billion-dollar company? It is now, according to its investors. People familiar with the company tell me it has raised around $50 million in a funding round that values the start-up, which has no real revenue to speak of, at about $1 billion.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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