Founders of YouTube, Chad Hurley and Steve Chen, has acquired Delicious from the hands of Yahoo saving it from ceasing operations.
YouTube Founders Acquire Delicious
Today, we’re pleased to announce that Delicious has been acquired by the founders of YouTube, Chad Hurley and Steve Chen. As creators of the largest online video platform, they have firsthand experience enabling millions of users to share their experiences with the world. They are committed to running and improving Delicious going forward.
Providing a seamless transition for users is incredibly important for both companies. Yahoo! will continue to operate Delicious until approximately July 2011. When the transition period is complete, your information will be moved over to Delicious’ new owner.
Thank you for your patience in this time of transition and thank you for using Delicious! [Source: Delicious]
AVOS is a new Internet company, led by the founders of YouTube, Chad Hurley and Steve Chen. AVOS is located in San Mateo, California.
I was more hesitant lately placing new links into Delicious considering its possible closure. Yahoo hasn’t got a good track record of keeping non-revenue-generating ventures up and running. I say it’s great news for Delicious users.
Oracle shuts down open source test servers that PostgreSQL uses to test their builds. PostgreSQL is competing with Oracle’s MySQL and Oracle Database.
Oracle shuts down open source test servers
Like most open source platforms, PostgreSQL relies on an army of distributed volunteers. It is volunteers that, for example, operate the PostgreSQL Build farm, a “distributed, automated build and verify system” built by enthusiast Andrew Dunstan.
Oracle has shut down servers Sun Microsystems was contributing to the build farm for open source database software, PostgreSQL, forcing enthusiasts to scramble to find new hosts to test updates to their software on the Solaris operating system.
“It’s a vital piece of the infrastructure for developing PostgreSQL,” Dunstan told iTnews. “Before it existed, if some change we made broke on some platform, it was often weeks or months before we found out about it. Now we know within hours.”
At the start of July, Oracle shut down its three PostgreSQL build farm servers without warning, leaving the PostgreSQL community rushing to find replacements.
Dunstan said he “suspects” Oracle does view PostgreSQL as a competitor. (Source: IT News)
I love to see Oracle post their financial results, they have made quite a bit of cost cutting moves since the acquisition. You can hardly blame them too; they’ve got shareholders to report to. After all, doing too much charity work on open source is partly why Sun Microsystems failed in the first place.
Friendster next target for an acquisition, sources close to Reuters reveal. I would think this is the end of the Friendster.
Friendster to be sold by month’s end -source
SHANGHAI, Dec 4 (Reuters) – Friendster, one of the world’s earliest social networking sites, will be sold to an Asian buyer by the end of December for at least $100 million, a source familiar with the matter said.
Friendster, which predates Facebook and MySpace in the social networking space was founded in 2002. But it quickly lost ground to other social networking sites in the United States. Friendster is now mostly used in Asia where more than half of its registered 100 million users are from.
Friendster will be sold to an Asian listed firm for more than $100 million in a deal set to be announced by the end of the month, said a source who declined to be identified as the information was not yet public.
Headquartered in California, Friendster had turned down a $30 million buyout offer from Google Inc (GOOG.O) six years ago, according to newspaper reports.
Tencent Holdings (0700.HK), China’s largest Internet firm by market value at $35 billion, was among the short-listed bidders, while Facebook also showed interest but was turned down due to competition and intellectual property issues, the source said. (Source: Reuters)
Thanks for pioneering the idea of how social network should be but you will not be missed.
With the new buy Oracle will own MySQL! Well, that’s really nothing compared to Oracle’s own database. But Oracle will now own Java too. Not that I care of course.
Oracle Buys Sun
Oracle Corporation (Nasdaq: ORCL) and Sun Microsystems (Nasdaq: JAVA) announced today they have entered into a definitive agreement under which Oracle will acquire Sun common stock for $9.50 per share in cash. The transaction is valued at approximately $7.4 billion, or $5.6 billion net of Sun’s cash and debt. “We expect this acquisition to be accretive to Oracle’s earnings by at least 15 cents on a non-GAAP basis in the first full year after closing. We estimate that the acquired business will contribute over $1.5 billion to Oracle’s non-GAAP operating profit in the first year, increasing to over $2 billion in the second year. This would make the Sun acquisition more profitable in per share contribution in the first year than we had planned for the acquisitions of BEA, PeopleSoft and Siebel combined,” said Oracle President Safra Catz.
So long as IBM is not the one buying it. It’s good to see Oracle moving into open source though. Oracle hasn’t been that embracing to the open source community. Perhaps the acquisition would change things.
[via Ridzuan through MSN]
EBay plans to spin off its Skype unit, citing the VoIP company does not fit with the rest of the company. The split is a good move in my opinion. Yahoo News has more:
EBay to say goodbye to Skype
EBay plans to spin off its Skype unit, acknowledging that the Web telephone service does not fit with the rest of the company, in an indictment of former CEO Meg Whitman’s acquisition strategy.
EBay, whose shares rose 3 percent in after-hours trade, said on Tuesday it was planning an initial public offering for Skype by the first half of 2010, a move widely seen as putting a ‘for sale’ sign on the unit to fetch potential buyers.
Two people familiar with eBay’s thinking said the online auction company could seek substantially more than $2 billion for Skype. But some analysts doubted that it could fetch so much in current markets.
The San Jose-based eBay bought Skype in 2005 for $2.6 billion, in what was its biggest ever acquisition. John Donahoe, who became eBay chief executive a year ago, has vowed to evaluate whether the telephone service was a good fit with the rest of the company, which includes Web payments service PayPal along with its core auctions business.
“We believe operating Skype as a stand-alone publicly traded company is the best path for maximizing its potential,” Donahoe said in a statement on Tuesday. (Source: Yahoo)
IBM doesn’t want to buy Sun Microsystems anymore. I think it’s a good move for IBM although it’s really bad for Sun Microsystems. IBM is the best suitor for Sun, considering it’s experience in monetizing on opensource projects. Sun can’t seem to earn much money out of it.
I.B.M. Withdraws $7 Billion Offer for Sun Microsystems
I.B.M. withdrew its $7 billion bid for Sun Microsystems on Sunday, one day after Sun’s board balked at a reduced offer, according to three people close to the talks.
The deal’s collapse after weeks of negotiations raises questions about Sun’s next step, since the I.B.M. offer was far above the value of the Silicon Valley company’s shares when news of the I.B.M. offer first surfaced last month. Sun, an innovative pioneer in computer workstations, servers and Internet-era software, has struggled in recent years and spent months trying to secure a suitor.
With I.B.M. and others shying away from a deal, a bruised Sun could be forced to continue pursuing a solo business model whose prospects have been questioned by many analysts.I.B.M. had a team of more than 100 lawyers conducting due-diligence research on potential problems in a purchase of Sun, ranging from those antitrust concerns to Sun’s contracts with employees and I.B.M. competitors.
After the legal review, I.B.M. shaved its offer Saturday from $9.55 a share, the proposal on the table late last week, to $9.40 a share, said one person familiar with the talks. The offer was presented to Sun’s board on Saturday, and the board balked. The Sun board did not reject the offer outright, but wanted certain guarantees that the I.B.M. side considered “onerous,” according to that person.
Sun then said it would no longer abide by its exclusive negotiating agreement with I.B.M., a second person familiar with the discussions said. On Sunday, I.B.M.’s board decided to withdraw the offer. (Source: New York Times)
I applaud IBM on not purchasing Sun Microsystems. It’s not worth USD7billion at all. Acquiring the company is like charity work.
Cha-ching! More on Cisco’s press release:
Cisco today announced its intent to acquire privately held Pure Digital Technologies Inc. San Francisco-based Pure Digital, creator of the best-selling Flip Video(TM) brand, is a pioneer in developing consumer-friendly video solutions with mass-market appeal.
“Flip Video puts the power to instantly capture, edit and share video into the hands of everyday consumers,” said Jonathan Kaplan, chairman and CEO of Pure Digital. “By combining forces with Cisco, we join a company that shares our passion for video and whose global scale and tremendous technology expertise we expect will enable us to quickly expand and enrich the Flip Video experience.”
The Pure Digital acquisition exemplifies Cisco’s “build, buy and partner” innovation strategy to move quickly into new markets and capture key market transitions. Under the terms of the agreement, Cisco will pay approximately $590 million in stock in exchange for all shares of Pure Digital. In addition, Cisco will provide up to $15 million in retention-based equity incentives for continuing employees. The acquisition is subject to various standard closing conditions and is expected to close in the fourth quarter of Cisco’s fiscal year 2009. The acquisition will be accounted for in accordance with generally accepted accounting principles. (Source: Cisco)
The Flip is one of those things you can film a video and upload to YouTube.
Bloomberg reports that IBM is interested in purchasing Sun Microsystems for $6.5 billion. This acquisition makes sense for IBM although I don’t think it’s worth paying that amount for this company. IBM offers numerous Java-based solutions I think. I don’t see much advantage for IBM in this merger.
IBM May Pay $6.5 Billion to Buy Sun Microsystems, WSJ Reports
International Business Machines Corp. is in talks to buy Sun Microsystems Inc., the Wall Street Journal reported, citing people familiar with the matter.
IBM may pay at least $6.5 billion, 100 percent more than Sun’s closing price of $4.97 a share on Tuesday, the report said, citing the people. An agreement may not be reached, the newspaper said.
An acquisition of Sun Microsystems would bolster IBM’s Internet, data storage, government and telecommunications business, the newspaper said, citing the people.
In recent months, Sun Microsystems has contacted a number of technology companies with the aim of being acquired, people familiar with the matter said, according to the newspaper. Hewlett-Packard Co. declined the offer, the newspaper reported, citing a person briefed on the matter. (Source: Bloomberg)
Sun has too much open-source products and failed to really monetize much of their software. Perhaps IBM can do something about it.
Got this email from Pownce:
Pownce is shutting down
We are sad to announce that Pownce is shutting down on December 15, 2008. As of today, Pownce will no longer be accepting new users or new pro accounts.
To help with your transition, we have built an export tool so you can save your content. You can find the export tool at Settings > Export.
Please export your content by December 15, 2008, as the site will not be accessible after this date. Please visit our new home to find out more:
Our thanks go out to everyone who contributed to the Pownce community,
The Pownce Crew
That was fast.