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In another move bolstering its video capabilities, Twitter (NYSE:TWTR) has purchased Periscope, which has been developing a live-video streaming app. The social-media company paid slightly less than $100M for the startup, sources told WSJ, making Periscope one of Twitter’s more expensive purchases. The report comes as Meerkat, another app which allows users to display live video from their phones on Twitter, took off, attracting 60K users in the eight days since it launched.
Meanwhile, despite being barred from operating inside mainland China, Twitter (TWTR) opened a small sales office in Hong Kong today to help it lure Chinese companies with global ambitions to its social media platform. "We think the timing is perfect because there are a number of these Chinese companies that are really aiming to be global now," said Peter Greenberger, who heads Twitter's emerging markets operations. The office will target potential advertising clients among China’s increasingly outward-looking business community.
Alibaba is shuffling the top ranks at its Chinese shopping platforms amid growing concerns of counterfeit goods and other problems at the e-commerce giant's marketplaces. Alibaba (NYSE:BABA) has dismissed Yilei Wang, head of the Chinese company’s Tmall.com shopping platform, from his position, though he will remain with the company. Meanwhile, Jeff Zhang, former president of Taobao, will assume control of a new business unit called "China Retail Marketplaces" that will oversee Taobao, Tmall and Juhuasuan.
Qualcomm +3.5% premarket after launching a $15B buyback program that will replace a prior program with $2.1B remaining. The company plans to buy back $10B worth of shares within 12 months, on top of a current commitment to return 75% of free cash flow to shareholders. Qualcomm (NASDAQ:QCOM) also raised its quarterly dividend by 14%, increasing it to $0.48 from $0.42 per share.
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Seeking Alpha
In another move bolstering its video capabilities, Twitter (NYSE:TWTR) has purchased Periscope, which has been developing a live-video streaming app. The social-media company paid slightly less than $100M for the startup, sources told WSJ, making Periscope one of Twitter’s more expensive purchases. The report comes as Meerkat, another app which allows users to display live video from their phones on Twitter, took off, attracting 60K users in the eight days since it launched.
Meanwhile, despite being barred from operating inside mainland China, Twitter (TWTR) opened a small sales office in Hong Kong today to help it lure Chinese companies with global ambitions to its social media platform. "We think the timing is perfect because there are a number of these Chinese companies that are really aiming to be global now," said Peter Greenberger, who heads Twitter's emerging markets operations. The office will target potential advertising clients among China’s increasingly outward-looking business community.
Alibaba is shuffling the top ranks at its Chinese shopping platforms amid growing concerns of counterfeit goods and other problems at the e-commerce giant's marketplaces. Alibaba (NYSE:BABA) has dismissed Yilei Wang, head of the Chinese company’s Tmall.com shopping platform, from his position, though he will remain with the company. Meanwhile, Jeff Zhang, former president of Taobao, will assume control of a new business unit called "China Retail Marketplaces" that will oversee Taobao, Tmall and Juhuasuan.
Qualcomm +3.5% premarket after launching a $15B buyback program that will replace a prior program with $2.1B remaining. The company plans to buy back $10B worth of shares within 12 months, on top of a current commitment to return 75% of free cash flow to shareholders. Qualcomm (NASDAQ:QCOM) also raised its quarterly dividend by 14%, increasing it to $0.48 from $0.42 per share.
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Seeking Alpha
