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Confirmed: IAC Has Bought About.com From The New York Times For $300M In Cash
Aug 26, 11:58PM
Update: The news has now been confirmed. The $300 million acquisition price includes About.com, ConsumerSearch.com and CalorieCount.com and the deal will close in the next several weeks. Full release below. Both AllThingsD and Reuters have reported a deal in the works, and we have now confirmed with a source very close to the situation that IAC is buying About.com from the New York Times Company for an all-cash sum in the region of $300 million. TechCrunch has also learned that the news is due to be made official either later tonight or tomorrow morning. The source also confirmed that although Answers.com had also been interested in the information portal, its offer -- reportedly valued at $270 million -- was in debt and equity in Answers.com.
Badass LA Fashion Site Nasty Gal Picks Up A Badass $40M From Index Ventures For World Domination
Aug 26, 9:27PM
Nasty Gal, a site dedicated to selling "badass", "unapologetically sexy" female fashion, has picked up a cool $40 million Series B round from Index Ventures, just five months after the VCs were the sole backers in its first, $9 million round. The LA-based company -- which had sales of $28 million in 2011, is on track to make $128 million in 2012 says Forbes, and is currently on a growth curve of 10,000% (yep!) -- says it will be using the funds to expand in every way that it can. Investments will be made in technology, operations (including a 500,000 square foot fulfillment center in Louisville, KY and a 50,000 square-foot office space), manufacturing, creative production -- and preparing to go global. Global is not a goal too far for Nasty Gal, which says it already has a customer base of 350,000 people across 60 countries. Already, the company says that 35% of its sales are coming from outside the U.S. It's also not too much of a surprise, given that Index has its roots in Europe and has a strong track record on investments with a global remit.
Late Labs: A 'Crowdcoding' Site Where Developers Trade Code For Equity
Aug 26, 9:10PM
A new startup called Late Labs wants to connect coders with worthwhile side projects, and to reward them for their work with startup equity. The company lays out the problem on its mission page: "For Hustlers, its hard to find Hackers. For Hackers, side projects lose traction in the design & distribution phrase, and fizzle . . . out."
VC Transparency Is The New Black
Aug 26, 7:40PM
When Instagram was bought by Facebook earlier this spring for $1 billion, one question lingering on everyone's minds was how much VC firm Andreessen Horowitz made on the deal. The firm had made an early investment in the photo sharing startup but then bet against it after Instagram's pivot by later by supporting a rival. A few days after the Facebook-Instagram acquisition was announced, the firm's partner Ben Horowitz took to his blog to not only reveal the back story of the investment in Instagram, but also how much the firm had made off the deal under the terms of the acquisition—$78 million off of a $250,000 investment
AT&T Vacation Blackout Further Affirms Next iPhone's September 21 Launch Date
Aug 26, 7:15PM
We've received yet another bit of evidence confirming the next iPhone's September 21 launch. According to an AT&T sales rep, AT&T staff has been given a vacation blackout from September 21 to September 30, just like Verizon employees. Our source also mentioned that blue carrier employees are undergoing training for an "iconic release." Sounds like the next-gen iPhone to me.
Hip San Francisco Coffee Shop Bans Instagram
Aug 26, 6:33PM
San Francisco's Four Barrel Coffee made a stir last week when it posted a sign of rules including "not talking about annoying hipster topics". Ever the fans of self-reference, its bohemian customers wouldn't stop snapping camera phone pics of the sign so Four Barrel had to update it with a new rule: "No posting this on Instagram, you hipster." And that's not Four Barrel's only bone to pick with laptop-toting techies.
How Free Apps Can Make More Money Than Paid Apps
Aug 26, 5:30PM
Editor's note: John Manoogian III is co-founder and CTO at 140 Proof, a venture-backed startup for targeted Twitter advertising. While building apps for Apple and Android app stores can be highly lucrative ventures for developers, one of the hardest decisions an app developer has to make is how to get the app to pay for itself. Often the "monetization strategy" — shorthand for "how will this app make money?" — is left for last. It's hard enough to get discovered by consumers among the millions of already existing apps, not to mention convince people to buy it. People increasingly prefer free, ad-supported apps for their tablets and smartphones, yet many developers still aren't sure how to tackle the free vs. paid issue. Deciding when to charge for your app, and when to try an ad-supported model, is one of the hardest decisions developers must make.
Where Have The Users Gone?
Aug 26, 12:00PM
Editor's Note: Nir Eyal writes about the intersection of psychology, technology, and business at NirAndFar.com. He is the author of the forthcoming book "Hooked: How to Drive Engagement by Creating User Habits".
Step 1: Build an app. Step 2: Get users hooked to it. Step 3: Profit. It sounds simple and, given our umbilical ties to cell phones, social media, and email inboxes, it may even sound plausible. Recently, tech entrepreneurs and investors have started to look to psychology for ways to strike it rich by altering user behavior. Perhaps you've read essays on how to create habit-forming technology and figured you'd give it a shot?
The Next Battle for Internet Freedom Could Be Over 3D Printing
Aug 26, 8:00AM
Either we allow for the ambiguity that freedom and unregulated 3D printing will bring, or we enforce far-reaching laws that may decrease liberty without changing results. For those who appreciate the internet because of its democratizing effects and freedom, I believe the choice is clear. We should decide now that we will oppose any law that attempts to undermine freedom on the internet, no matter the consequences.
5 Design Tricks Facebook Uses To Affect Your Privacy Decisions
Aug 26, 1:59AM
Do you know how many apps access your personal information on Facebook? Check your Facebook apps permissions and get ready for a surprise. In fact, Facebook keeps "improving" their design so that more of us will add apps on Facebook without realizing we're granting those apps (and their creators) access to our personal information. After all, this access to our information and identity is the currency Facebook is trading in and what is driving its stock up or down. It should be no surprise that in the new App Center Facebook made another leap forward in their efforts to get you to expose your personal info without realizing you're doing so. #1: The Single Button Trick In the old design Facebook used two buttons - "Allow" and "Don't Allow" - which automatically led you to make a decision. In the new App Center Facebook chose to use a single button. No confirmation, no decisions to make. One click and, boom, your done! Your information was passed on to the app developers and you never even notice it.
SAP Holding Startup Forums To Develop Ecosystem For HANA — The Company's First Ever Platform Play
Aug 26, 12:00AM
SAP is doing a series of startup forums that signal a significant change in the company. It's a move unlike any we see from the likes of HP, Oracle or IBM. SAP is making a play as a platform company. It is building a developer community and backing it up with a special $155 million fund specifically meant to help build an ecosystem for HANA --- the company' s real-time analysis technology and new crown jewel.
Wanna Collaborate On A Song With Paul Oakenfold? Beatlab Is Making It Happen
Aug 25, 11:03PM
Historically there's been a pretty high barrier to entry when it comes to making electronic music. The standard tools used to create beats are things like Traktor and Ableton Live, desktop programs aimed at professional music producers that have tons of complicated features (and pricetags that start in the hundreds of dollars.) They're great tools for pros, but they're still not exactly beginner friendly. That's where Beatlab, a San Francisco startup run by Jonathan Baudanza, has come in with a much more lightweight and low maintenance option. And this week, the site is having its first brush with the big time: Beatlab is partnering with famed electronic music producer and DJ Paul Oakenfold to hold a remix contest.
With A San Francisco Launch Imminent, Lyft Is Doubling Its Fleet Of Drivers And Readying An Android App
Aug 25, 10:00PM
It's been just eight weeks since Zimride's ride-sharing service, Lyft, was launched in beta, providing San Francisco users a low-cost alternative to cabs and Ubers. Since then, the service has grown a tremendous amount: It's got more than 100 drivers operating in the area, who together are taking hundreds of riders a day. Lyft works like other car transportation apps: You open it up and the app searching for available cars nearby. Difference is, those cars are driven by regular folks, not your usual surly taxi driver or buttoned up Uber driver. Users can rate their drivers, and at the end of the ride, there's a suggested donation, which is typically about 80 percent less than your average taxi fare. Drivers also rate their passengers -- more on that later.
Patents Are Worthwhile For Startups To Pursue In the US, But Not Abroad
Aug 25, 9:00PM
A recent TechCrunch guest post by Jeffrey Shieh suggests that startups should file for international patent protection for a variety of reasons. Mr. Shieh does a great job of explaining the benefits and options for seeking international patent protection. However, based on my experience working with startups, I disagree with his conclusion that startups should expend precious early funds on international filings.
Astronaut And Innovation Icon Neil Armstrong Passes Away At 82
Aug 25, 8:24PM
NBC News reports that astronaut and icon Neil Armstrong passed away earlier today due to complications from a heart-bypass operation he underwent a few weeks ago. He was 82. Though his merits were many, Armstrong was best known for one thing. On that fateful day back in July 1969, with the eyes of history watching, he clambered down the ladder on the front leg of the Lunar Module "Eagle" to become the first man to set foot on the Moon. "That's one small step for a man, one giant leap for mankind," he said.
Facebook's New Retargeted Ads Performing "Very Well", Adds Partners To Run Them
Aug 25, 6:57PM
Facebook Exchange could pull in a wealth of new advertising dollars by letting businesses retarget ads at Facebook users who've visited their websites. Now I've learned and confirmed that the first Exchange ads are running, and Facebook has nearly doubled the companies with access to the program. Plus one source close to Exchange tells me "initial results are good, they're going very, very well." Announced 10 weeks ago, Exchange brings the first cookie-based retargeted ads to Facebook -- a format common around the web but that Facebook must handle delicately because of privacy. The expansion and comments from Sheryl Sandberg show Facebook has high hopes that Exchange will bolster its bottom line.
Email Tricks Of The Super Successful
Aug 25, 6:56PM
Over the past month, the most successful people I know have taught me a very important lesson: be a great emailer. Nearly all of them have a few simple tricks up their super-efficient sleeves: be ridiculously fast (responding in 30 minutes and no more than 24 hours), keep messages short, delegate responsibility through CC, and be available every waking moment.
All Your Metadata Shall Be In Water Writ
Aug 25, 6:22PM
The power of the internet lies in its near-infinite mutability. It's an edifice of information being added to and sculpted by as many hands as there are eyes viewing it. Truly democratic and increasingly accessible, it will soon be the vector for most communication that takes place on our world. But its mutability is also a weakness, as so many great strengths are. The weakness arises from a lack of permanence: it is impossible to make an indelible mark. Lack of permanence! you say. Why, I can request 500 pages of data on file at Facebook, and the NSA is building a profile on me that includes every cookie I've ever been issued. True, but the data itself is impermanent. Vulnerable in a dozen ways to being rewritten, manipulated, retouched, softened, or otherwise reduced from a record to a falsification. The data we create today is not etched in stone but "writ in water." The benefits of this we have seen, and monumental they are, but soon we will know its danger, too.
Apple's New Mini iPad Expected To Take The Stage At October Event
Aug 25, 5:24PM
Tell me if this particular rumor sounds familiar -- rather than lump the announcements of a new iPhone and a new iPad into a single event, Apple will instead unveil the products at two distinct events. Daring Fireball's John Gruber offered up that tantalizing possibility earlier in the week, and now it seems that he may have hit the nail on the head. According to a new report from AllThingsD, sources close to the situation have confirmed that Apple will pull back the curtain on a new, smaller iPad during a special event in October. Meanwhile, all signs still point to an iPhone unveiling on September 12, so rabid members of the tech press and Apple's fan club should have plenty of time to dig into one new product before another takes the stage.
Gillmor Gang: Social Mediocracy
Aug 25, 5:00PM
The Gillmor Gang — Robert Scoble, Keith Teare, Kevin Marks, John Taschek, and Steve Gillmor — planted a big fat one on Google +'s new Circle Notification sliders. These babies mean Google + conversations may now encourage self-filtering, rather than waiting for an API or Twitter killing off any more partners. @scobleizer made a good case for Facebook's new iOS native app, and along the way explained why Zuck was not driving the company into the turf. @kteare indulged his fantasy of a one-app-does-all future, while @kevinmarks demurred and @jtaschek explored what appeared to be the inside of Scoble's head. Me, I sat back and enjoyed the show.
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