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Coinfloor Is A New UK-Based Bitcoin Exchange Backed By Passion Capital And Transferwise Founder Taavet Hinrikus
Oct 29, 8:30AM
Passion Capital and Transferwise founder Taavet Hinrikus have joined forces to back new London-based Biticoin exchange Coinfloor, which opens for registrations today. The amount invested remains undisclosed, so we can presume this is a modest Seed round, perhaps in comparison to competitors, while it's likely testament to Passion and Hinrikus testing the waters, following their fact-finding mission at Bitcoin London last July.
Smartphones Now Account For 60% Of Mobile Phones Shipped Globally, With Apple Expected To Rebound On The iPhone 5s, Says Strategy Analytics
Oct 29, 6:25AM
Global shipments of smartphones are continuing to increase, growing 45% to hit a record 251 million units in Q3 2013, from 172.8 million units a year ago, according to the latest report from Strategy Analytics.
Meet Lesson.ly, A Training-As-A-Service Startup That Is Clocking Quick Revenue Growth
Oct 29, 1:31AM
If you work for a large company, you likely dealt with an onboarding process. Perhaps little quizzes or pamphlets. I recently enjoyed this precise exercise while joining TechCrunch a few months ago, given that our corporate boss AOL is a fan of all things ancient. The gist is that corporate training is a pain in the ass for the poor schmuck on the receiving end, as well as for those who have to get new recruits up to speed. Lesson.ly wants to change that by providing a flexible, online software solution to help businesses train new employees. Corporate training as a service is the play. The company likes to think of itself as the "MailChimp of teaching and learning software." I tend to dislike "X for Y" comparisons, but in this case it fits well enough to bear repeating.
Ingram Micro Buys Shipwire, The Cloud Logistics And Supply Chain Management Platform
Oct 28, 11:50PM
Ingram Micro has acquired Palo Alto-based Shipwire, the cloud logistics and supply chain management SaaS provider. The acquisition price was not disclosed. Shipwire has established itself as one of the leading cloud logistics platforms for retailers and e-commerce companies. It also provides shipping and developer tools. For its part, Ingram Micro is a well-known for providing logistics and supply chain technology for the businesss market.
The Endangered Double Irish Could Make Apple, Google, Twitter And Others Pay Way More Taxes
Oct 28, 11:20PM
According to Feargal O'Rourke, a partner at PricewaterhouseCoopers, the infamous Double Irish tax avoidance method could be endangered. If it were to be written out of law, the legal practice would force many companies to either find new methods to avoid taxation, or pay far higher rates on their profits. Before we dig into the details of the matter, keep in mind that it is the responsibility of every tax-paying entity to arrange its affairs in the way that will most limit its tax bill, and then pay every cent of that total. The gist is that we should expect corporations to pay as little in taxes as they can. How they manage to do so while staying inside of the law you may find abusive, or asinine, but you should never be surprised by their efforts. O'Rourke is a voice that matters as he advises a number of companies on how to employ the Double Irish tax avoidance method. Intel, for example, is his client. He has worked with Facebook, Google, and LinkedIn. In an interview with Bloomberg, O'Rourke predicted that the Double Irish will, in time, become illegal. Regarding government policy, O'Rourke has standing, as, Quartz notes, he helped end a 20 percent tax on profits leaving Ireland. This made use of the country as a place to more simply shuffle around revenue and profit. What Is The Play? So, what is the Double Irish, or the Double Irish with a Dutch Sandwich? It’s a form of income moving that helps companies avoid huge tax bills. In the same report, Bloomberg states that Google saved $2.2 billion last year using the technique, and that companies overall slip past around $100 billion in taxes in the United States and Europe yearly through its effectiveness. So, the dollars at play here are not small. Here’s how it works: Move your money to Ireland, then the Netherlands, and finally to a tax haven such as Bermuda, but in a very specific order. Develop technology or other intellectual property in the United States. Set up a corporate subsidiary in Ireland, and sell (or license) foreign rights to said intellectual property. However, ensure that this company is headquartered in Bermuda, or a different but similar tax haven. Foreign profits that come from revenue based on that intellectual property can now be assigned to that entity. This means that the parent company will not pay home-market taxes on
Apple Made 15 Strategic Acquisitions In Fiscal '13, Leaving 7 Undiscovered
Oct 28, 11:03PM
Apple completed 15 acquisitions in fiscal 2013, Apple CEO Tim Cook announced during the company’s Q4 investor call. That amounts to one acquisition every 3-4 weeks during the year. Given that we only know about eight of those acquisitions, there are still seven more out there. Apple typically makes small acquisitions of companies that have developed a set of skills it needs or a product that it wants to integrate into its hardware or software. Apple’s famous acquisition “confirmation” boilerplate alludes to this, stating “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.” So far, we know of the following acquisitions by Apple in 2013: WiFiSlam – An indoor location company that Apple has or will likely integrate into mapping efforts or iBeacon development. Exploring the WiFiSLAM technology deeper leads to the realization that Apple has everything it needs to leverage the tech already onboard hundreds of millions of iPhones. Locationary – A Canada-based startup that focuses on merging and organizing business profiles and location data. This is a no-brainer, as Apple’s biggest Maps problem is point-of-interest data. Hopstop.com - A transit and walking-directions company that Apple could use to build out its own transit directions inside the Maps app. The app shipped without either in its first iteration, and iOS 7 added walking directions to the mix. Hopstop could have helped with that. Passif Semiconductor - A low-energy chip maker. It seems likely that Apple could use this to either improve or enhance its iBeacon technology, which runs on Bluetooth LE. Apple’s new Apple TV software allows you to use a similar procedure to transfer settings directly from an iPhone. Matcha - An acquisition that appeared to be aimed at bolstering Apple’s Genius offerings for media, marketing efforts for iTunes movie storefront-ends or perhaps iRadio. Embark - A popular iOS transit app. AlgoTrim - A data-compression company that could help Apple market its offerings in countries where plans are expensive and data is at a premium. Cue - A smart assistant company that Apple will likely purchase to bolster its Siri and “Today” offerings in iOS in order to compete with Google Now. As for what the others are, we’ll keep our ears open. If you have any info, well, our doors are always open.
Google Launches Invite System For Early Glass Explorers And Preps Updated Hardware
Oct 28, 10:20PM
Hey Google Glass Explorers, Google thinks you're keen. Really, they do. So much so in fact that the company has been quietly working on an updated version of the Glass hardware, and those of you who shelled out $1,500 to be among the first to support the project will be able to swap your existing units for the second revision for free.
Apple's Greater China Business Bounces Back, Accounts For 15% Of Q4 Revenue
Oct 28, 9:54PM
Three months ago, when CEO Tim Cook was asked why Apple's revenue from greater China sunk 14 percent year-over-year, he didn't have a great answer. Apparently, there wasn't a "totally clear" answer for the shift. Now, poring over Apple's Q4 earnings, the story is very different -- that same region accounted for $5.7 billion of Apple's total revenue pie (or, if you prefer, 15.3 percent).
Apple Reports Q4 Retail Sales Of $4.5 Billion With $50 Million In Sales Per Apple Store
Oct 28, 9:46PM
Apple reported that its fourth quarter revenues in its Apple stores were $4.5 billion, up 6 percent compared to last year. On average, the company reported that Apple made an average of $50 million per store. Apple, which has 416 stores, had 36 percent growth per store on a per week basis compared to last year. About 76 percent of Apple’s retail revenues were from offshore. The company said it had about 99 million visitors to its stores with about 18,500 visitors per week. The company has162 retail stores outside the United States. In the earnings call, Apple CFO Peter Oppenheimer said the company opened 30 new stores in 2013. Most of those stores are outside the United States. An emphasis will be put on the China market with its international retail expansion.
Apple: Future Versions Of OS X To Be Free, $900M Increase In Revenue Deferral Due To Free Software
Oct 28, 9:29PM
Today during its earnings call, Apple CFO Peter Oppenheimer confirmed that future versions of OS X would be free. Last week, Apple announced that OS X Mavericks would be available for free, but did not confirm plans for future versions of its operating system. Oppenheimer’s statements during the call indicate that future versions of OS X will also be free. This, along with iWork updates and free copies for each purchaser of Mac and iOS hardware, would contribute to a $900 million sequential increase in net revenue deferred for software upgrade rights and non-software services in the December quarter. Basically, a larger slice of revenue from each device will go towards ‘paying’ for those free software upgrades under a law that doesn’t allow Apple to count revenue for freebies until the products they’re housed on are delivered. Apple noted that this would be enough to affect its gross margins, using the phrase “dollar for dollar.” This indicates that its margins might have been hit by as much as 170 basis points, increasing what it has estimated for its future margins. The market responded to the news that Apple’s margin estimates were directly affected by the deferrals, popping by a few points. Basically, this is the market reacting to the fact that Apple’s guidance for next quarter included these deferrals. That means that what looks like a flat growth curve is actually going to be a pop in disguise in Q1 ’14. Oppenheimer says that these new deferrals would add to those already sliced off for software updates. He notes that this is now $15-25 per iPhone and iPad beginning in September, and on Mac it increased from $20 to $40 in October. He says that it will record those deferrals over two years for iOS devices and over Mac for four years, slipping that revenue back in to the bottom line over years rather than ‘right now’ if it were to charge. Oppenheimer says that it will “work hard” to get down the cost curves on those devices in order to compensate for those increases. Apple CEO Tim Cook said that the primary reason for Apple to make OS X and iWork free was to “make it a part of what it meant to own a Mac and what it meant to own an iOS device…Some other folks charge $199 for each of these — the OS and the productivity apps.
Apple's Rebound Quarter In Charts
Oct 28, 9:01PM
Apple just reversed its slide, if you can call it that. After three quarters in a row of slowing sales growth, Apple's September quarter — reported this afternoon — shows a modest re-acceleration.
Apple Sold 33.8 Million iPhones, 14.1 Million iPads, And 4.6 Million Macs In Q4 2013
Oct 28, 8:32PM
Well, folks, Apple has just put up some mixed numbers in its fiscal Q4 2013 earnings release -- $37.5 billion in revenue and $7.5 billion in net profit to be exact -- but how exactly did the tech titan fare in terms of hardware sales? This time around Apple sold 33.8 million iPhones (which it notes is a record for Q4), 14.1 million iPads and 4.6 million Macs during the quarter.
Apple's Q4 '13 Beats With $37.5B Revenue, $7.5B Profit And $8.26 EPS On Strong iPhone Sales
Oct 28, 8:32PM
Apple has just released its fiscal Q4 2013 earnings, reporting $37.5B in revenue, $7.5B in net profit representing $8.26 per share. That marks a year-over-year growth of 4.2 percent in revenue and 4.7 percent decline in EPS, with net profit down 8.6 percent year over year. Apple sold 33.8 million iPhones, 14.1 million iPads and 4.6 million Macs in the quarter, which allowed it to post record Q4 revenue. Analysts had estimated 33.4 million iPhones, 14.3 million iPads and 4.3 million Macs in the quarter. iPhone sales grew 26 percent to hit another record number. iPad sales were relatively flat. Apple sold a total of 71 million iPads in fiscal 2013. Apple sold just 3.5 million iPods in the quarter. "We're pleased to report a strong finish to an amazing year with record fourth-quarter revenue, including sales of almost 34 million iPhones," said Tim Cook, Apple's CEO, in a statement. For comparison, Apple brought in $35.3 billion in revenue last quarter, with $6.9 billion in profits at $7.47 EPS. Apple is currently down 2 percent in after-hours trading. Apple Beats Apple beat analyst expectations across the board for revenue, posting record Q4 numbers. According to Fortune’s collated estimates, street analysts had projected $37.14 billion in revenue with EPS of $8.16. Estimates put year-over-year revenue growth at 3 percent and earnings growth at -6 percent. WSJ estimates had placed EPS at $7.94, which would give Apple a win in both categories as well. Apple’s own guidance projected revenue at between $34 billion and $37 billion, with a gross margin of between 36 percent and 37 percent. Apple’s estimates have become increasingly accurate over the past few quarters, ever since it changed the way that it gave guidance. Previously, it had a reputation for severely under-estimating future quarters and it’s taken a bit of time for analysts to adjust to its new, more conservative outlook. Apple finished the quarter with $146.76 billion cash on hand. Its projections for revenue in Q1 2014 are between $55 billion and $58 billion with gross margin of between 36.5 percent and 37.5 percent. Apple’s gross profits fell to 37 percent, the seventh quarter in a row for such a decline. Much of that can be attributed to lower margins on devices like newer Retina iPads and lower-priced iPhones. If it hits the higher end of its Q1 ’14 estimates, it could reverse that for the first time in a while, but the lower end would mark another decline.
The Final 4 Disrupt Europe Startups: Asap54, Import.io, Lock8, Voicesphere
Oct 28, 8:23PM
It might have been a long time coming, but the first ever TechCrunch Disrupt Europe, held in Berlin, has been a fantastic window into the burgeoning European tech startup ecosystem. Plus, it has surpassed our expectations on attendance, passing 2,000 delegates over two days.
The Syrian Electronic Army Hacked Obama's Twitter Links And Campaign Emails
Oct 28, 7:55PM
“Only the links within our tweets had been hacked,” an OFA official acknowledged. “At no point did they have access to the twitter handle,” the official said. Like many companies, the Obama campaign has a separate app for their unique shortened URLs, instead of relying on Twitter’s (it’s easier to track user engagement). Quartz reports that the campaign members have since beefed up their security with Google’s two-step authentication. The formerly hacked link above about immigration has since been corrected. This isn’t the first time the SEA has successfully gone after the president. Last spring, the SEA hacked the AP Twitter account to spread a rumor that the White House had been bombed, sending the stock market into a momentary crash. Today’s hack was particularly sneaky because it didn’t look like anything was suspicious. But, the more important question is, why weren’t they using basic security protocol in the first place?
Germans React To Revelations That The U.S. Spied On Chancellor Angela Merkel
Oct 28, 7:46PM
It was recently revealed that the National Security Agency secretly monitored European leaders and 60 million Spanish phone calls from a spying hub in the United States German Embassy, all while President Obama was reportedly oblivious to the program. German Chancellor Angela Merkel was so discomfited that even after President Obama personally apologized, she called for a European-wide reconsideration of cooperation with U.S. intelligence agencies. The new revelations will make an already tense situation much worse. During TechCrunch Disrupt Europe in Berlin, TechCrunch TV went out to get some reactions to gauge local sentiment regarding the news. We didn’t find any protesters in front of the U.S. Embassy in Berlin, which sits right next to the Brandenburg Gate and just about a mile away from Angela Merkel’s office. Sadly, most people were too afraid to actually talk to us about the NSA on camera, but we found a few brave Germans who were willing to talk to us. Here is what they had to say. In case you want to read up on the current state of this affair, here is a quick breakdown of the recent news: From documents provided by notorious NSA whistleblower Edward Snowden, Germany’s Der Spiegel reports that U.S. spies posed as diplomats and set up spying hubs in Frankfurt and Berlin. A clandestine force, the Special Collection Service, built special permeable walls to listen to all manner of communication — “cellular signals, wireless networks and satellite communication.” German officials have ordered an investigation and are pretty angry. El Mundo reports that the NSA collected 60 million phone calls and Internet browsing behavior in Spain (original Spanish). Glenn Greenwald, the former Guardian reporter who co-authored the story, notes that that this kind of spying is punishable under Spanish law. President Obama was apparently oblivious to the German spying. “These decisions are made at NSA,” one official said, according to the Wall Street Journal. “The president doesn’t sign off on this stuff.” Defending the practice, John Schindler, a former NSA official, reminded the Twitterverse that 9/11 had been partly orchestrated in Germany.
Apple Sends Out Set Of Slick Mac Pro Posters To Some Journalists
Oct 28, 7:40PM
Apple sent out a set of slick Mac Pro posters to at least one journalist today. TidBITS author Jeff Carlson recieved a long black tube with 4 Mac Pro images as posters in it this morning. Other journalists like CNET’s Scott Stein (Photo by Dan Ackerman) and Dallas Morning News’ Jim Rossman also received the posters. Apple sends out printed material from time to time to promote products. It recently sent journos a packet of info and a poster on the App Store’s 5th anniversary. The posters emphasize various aspects of the Mac Pro’s design like its thermal venting, external casing and custom silicon. There is also a message inscribed on one of the posters: It’s the computer we were insane to build. The one that turns conventional thinking on its head, then kicks the living $#&% out of it. We challenged all our assumptions. Abandoned our preconceptions. And blew away limitation after limitation. This is the new Mac Pro. It’s like no Mac we’ve created before. And we can’t wait to see what you create with it. Here are the posters sent to Stein: Here’s one of Carlson’s set: You can head here to see all of the images on Carlson’s Flickr account. We got a chance to check out the Mac Pro briefly at Apple’s event last week but couldn’t tell you much more about it but that it’s pretty warm.
Rent Management Startup Cozy Recruits Flickr Co-Founder Stewart Butterfield To Its Board
Oct 28, 7:10PM
Cozy, an online tool for landlords and tenants, is announcing that Flickr co-founder Stewart Butterfield has joined its board of directors. Butterfield told me that he's actually known Cozy co-founder and CEO Gino Zahnd since they worked together at Flickr. With that relationship, and knowing Butterfield's family background in real estate (his father worked in development, his mother was an agent), Zahnd started asking for feedback. Eventually, he invited Butterfield to join the board.
Twitter's Attitude Toward DMs Shows Signs Of Thawing With Direct Link In Top Bar
Oct 28, 7:05PM
Twitter has been rejiggering its thinking about direct messaging recently, largely in the face of enormous messaging platforms like WhatsApp, Line, Snapchat and others. Today, the signs of Twitter’s thawing feelings about messaging have manifested as a new link in Twitter.com’s top bar which takes you right to your inbox. Recent reports from All Things D have claimed that Twitter is working on its messaging product. The work could manifest in a revamp of the way that it operates in the main product or result in a separate messaging system. The report says that DMs were close to being on the chopping block, but recent attitudes have changed. As someone who uses Twitter DM as probably my second-most utilized private messaging avenue, I’m fairly interested in where they’ll go here. Some folks, like our own Jordan Crook, feel that a standalone messenger app would not be the way to go. I happen to agree, and feel that Twitter is more likely to enhance the core product with improvements, but we’ll see. Twitter previously buried the DM section under either your profile view or the settings icon at the top of the page. >From what we understand, Twitter’s next version has been in the works for months, plagued by decision-making delays. Whatever it’s doing about DMs, it seems to be showing some outward signs of attention to a feature it has neglected for years. This version is said to have a swipeable interface and other enhancements, but it’s unclear whether it will be the one that brings DM improvements. Image Credit: Christopher Schmidt/CC Flickr
Samsung Launches Five SDKs To Lure Developers Into Its Hardware Web
Oct 28, 6:39PM
Samsung kicked off its first Developer Conference in San Francisco today, and the Korean tech juggernaut is eager to show just how much it cares about the devs building apps and services for its hardware ecosystem. And really, what better way to prove it than to unleash five (yes, five) brand-new SDKs for those developers to sink their teeth into?
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