Chinese e-commerce conglomerate Alibaba (BABA) first issued its record $25 billion IPO on the NYSE in September 2014. At the time, there was much fanfare from anxious investors eager to buy shares of the company. However, since then, Alibaba's public sentiment has fallen. Since its IPO, Alibaba's share price has mostly fallen, reaching a historic low of $79.54 per share on May 5th.
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Microsoft To (Likely) Acquire Salesforce
One of the Silicon Valley’s biggest success stories, Salesforce.com (CRM), which provides enterprise cloud computing services for customer relationship management, has put itself up for sale. The company, which began as a small, niche software startup, has quickly evolved into a formidable software-as-a-service (SaaS) company. Today, Salesforce is the leader in the $20B customer relationship management market.
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Fitbit Files For IPO
As of last Thursday, private health and fitness monitoring company, Fitbit, filed for an initial public offering (IPO) of common stock under the ticker symbol "FIT." In selling equity, Fitbit plans to raise $100 million in additional operating capital; the company also hopes to gauge investor sentiment and promote its product portfolio.
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Corrupt Costolo Out Of Time
In what was one of the more unusual events on Wall Street last week, Twitter’s (TWTR) Q1 earnings report was leaked before the closing bell. Ironically, the results were made public via a series of tweets from Selerity, a data science firm. The tweets revealed that Twitter missed revenue expectations by more than $20 million and also cut quarterly and annual guidance. Not surprisingly, Twitter’s stock price plummeted more than 20%.
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Stocks To Move Even Higher
Although the stock market is shattering records, and publically traded companies are more valuable than ever, much of Wall Street fears an upcoming “market correction." The general consensus is that September 2015 will mark the end of the Fed’s Quantitative Easing program, and the beginning of interest rate hikes (also known as the Federal Funds Rate). In response, investors are hesitant to invest capital in the stock market.
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Goldberg's SurveyMonkey Legacy
SurveyMonkey CEO Dave Goldberg unexpectedly passed away late Friday night due to head trauma from an exercise accident in Mexico. Goldberg was not just one of the most popular CEOs in the Silicon Valley, but he was also one of the most successful. Goldberg was married to Facebook (FB) COO Sheryl Sandberg and was just 47 years old at his time of passing.
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Offensive Advertising Pays Dividends
A new marketing campaign by supplement retailer Protein World has people fuming over the company’s decision to use scantily clad fitness models to advertise weight loss products. Many people claim the main goal of the advertisements is to make people feel guilty about their bodies because they are not, as Protein World states, “beach body ready.” In response to Protein World’s promotion, over 70,000 people have signed a petition calling for an end to the offensive advertising campaign.
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