Sysco has initiated a process to acquire US Foods for $3.5 billion in 2013. The effort has been blocked by a federal judge under certain grounds. The debt burdened distribution giant has finally opted to go for IPO on Tuesday. Though size of the IPO hasn’t been mentioned clearly, but the Form S-1 suggests valuation of $100 million which may be revised later on.
Firm Management
Financial Report: Soundcloud Reported Prolonged Losses, With 2014 Loss of $44 Million
Soundcloud's financial report revealed that the company is experiencing significant loss in 2014, and the losses had started from several years before. The 2014 loss was due to large expenses, even though Soundcloud's revenue actually experienced a growth. The company expects to face losses for the next three years, but they are striving to plan strategies to increase income.
Yahoo Restructuring: 107 Employees Received Layoff Notice As Part of The Planned 1,500 Job Cuts
Yahoo’s planned restructuring plan had started on Wednesday, whereas 107 employees had received a written notice that after 60 days they would have to leave the office. That would be the first batch of what is expected to be a much bigger job cuts of 1,500 employees or 15 percent of the company’s workforce.
Company Acquisition: Time Inc. Acquired Viant, Which Owned MySpace and Other Ad-Related Business Units
Time Inc. was interested in big data owned by Specific Media when they acquired Viant, which owns Specific Media. Apparently, Viant also owned other business units, including social network Myspace. Time Inc. will use data from Viant's business lines including Myspace to improve its advertising activities.
Company Partnership: Microsoft Announced Partnerships With 74 Android Device Makers
Microsoft announced that now the company has partnership with 74 Android device makers in 2015. The agreement says that the OEMs will have to pre-install Microsoft apps on their devices. Lately, Microsoft have been doing more to embrace Android with various ways.
Latest News
SolarCity Corp. has been displaying a tremendous growth during the last couple of years. The largest solar plant provider in the US has disclosed fourth quarter earnings during late hours on Tuesday. The earning scenario has disheartened the investors and its share prices have been decreased by 33.59% in the after hour trading on Tuesday.
Months after rebranding Xbox Music and relaunched it by the name Groove, Microsoft acquired a music player app that goes by the same name. The Montreal-based startup agreed to sell the name and technology to Microsoft, but the details are disclosed by both companies.
HP's business started to tatter since inception of Meg Whitman in 2011. In 2013, Bloomberg has named her as one of the ‘Most Underachieving CEO’ in the corporate world. To hold HP in its business path, she has spit HP into two independent entities which is believed to reduce her pay package by 13% compared to the previous year.
Swatch will help design the sunglasses collection while Safilo will be in charge of production. The two companies will distribute the products in both their stores worldwide. The five-year agreement aligns with both the companies' strategic plan to create a new design concept.
Samsung is probably going to unveil Galaxy S7 and S7 Edge as its new flagship smart phones in the WMC to be held within February 22 to 25. Introduction of Galaxy S6 variants hasn’t become much fruitful for Samsung. But the new S7 variants are widely assumed to bring fortune for Samsung since incorporation of mass desired features.
The bonds are gaining momentum amid sluggish financial markets and uncertainty about the global economy. Majority of hedge funds are betting on the $4.5 trillion market as the safest for US corporate debt. Some hedge funds forecast the concerns may go beyond energy and junk bonds.
Google CEO Sundar Pinchai received his first equity award granted by Google's parent company, Alphabet, Inc. The $199 million amount was one of the biggest ever given by a U.S. company, making him one of the world's highest-paid executives. Besides Mr. Pinchai, other executives, including Diane Greene and Ruth Porat also received the award worth $42.8 million and $38.8 million respectively.
The company announced that it had broken even in India and six other foreign countries, making the Indian e-commerce the first to achieve that milestone. Zomato, valued at over $1 billion, is going to start another funding round before becoming profitable by mid-2016.
All the tech giants are investing heavily in the research and development of virtual and augmented reality products. Google has been reportedly planning a successor to the cardboard VR viewer. The smart phone based headset incorporating improved sensors and lenses will be housed in a solid plastic casing instead of a cardboard.
