Internet

i-banking expansion makes sense for StanChart

29 Nov 2010

While many rivals are reducing their exposure to volatile ibanking, StanChart plans to boost the division with 1,800 hires. Its earlier push into high finance is already bearing fruit. With emerging market trading and dealmaking volumes growing quickly, the plan looks sound.

Mary Meeker well suited to the VC life

29 Nov 2010

The queen of the net courted controversy as Morgan Stanley's web guru and backed her share of doozies. But she also has a sterling track record for spotting new trends and huge successes like eBay, Amazon and Google. That makes her a good fit for new employer Kleiner Perkins.

Kayak floats, or sinks, behind U.S. antitrust boat

18 Nov 2010

The $50 mln IPO of the fastgrowing travel website looks promising. There s one big hitch Google s purchase of ITA Software means the giant wants to dominate online travel search. A bet on Kayak is a wager that Uncle Sam will halt Google s acquisition which isn t far fetched.

EMI will long for yesterday on iTunes

16 Nov 2010

Nearly 40 years after The Beatles broke up and seven years since Apple launched its digital music shop, the band s songs will finally be sold online. The trademark litigation that held up the move won t suppress the hype. But the Fab Four's label left money on the table.

Print is dead – long live old media

12 Nov 2010

The business model of print magazines and newspapers is no longer enviable. But old media s outsized impact and credibility still carry huge value. The Daily BeastNewsweek merger highlights the point. It s not just a case of old fogeys nostalgic for newsprint.

Amazon races to bottoms for retail domination

8 Nov 2010

Eager to keep feeding its huge distribution network, the online vendor is paying $545 million for Quidsi, the owner of Diapers.com and Soap.com. Though it will only add about 1 pct of sales, these humble staples should help Amazon get a firmer grip on consumer wallets.

Netflix clangs death knell for the lowly DVD

21 Oct 2010

The video rental service says its customers will watch more content through online streaming than from mailed DVDs by the end of the year. While the disk is dying rapidly, Netflix has made the tricky switch and is thriving. Now it just has to see off a whole new slew of rivals.

Yahoo chief’s grip is slipping

14 Oct 2010

Carol Bartz wants to fix the Internet group s US business. With few signs her plan is working, investors are increasingly focused on the company s valuable Asian holdings, which Bartz is loath to sell. A big value gap and growing impatience mean outsiders may do the job for her.

Google starts to benefit from mobile surge

14 Oct 2010

The Internet search giant s sales jumped 25 pct in the third quarter from a year earlier. The knock against the company is an overdependence on web advertising. But it is finding new growth. The market for ads on mobile devices is young, but it is already reinvigorating Google.

Facebook stake not the only charm of Mail.ru IPO

11 Oct 2010

The Russian internet group will raise $500 million in a London IPO that would give it a $3.3$5 billion valuation. At the right price, it could be a rare chance to tap into a booming market, with the added allure of the 2.4 percent Facebook stake owned by the listed entity.

Betfair: a fair bet, or priced for perfection?

7 Oct 2010

The UK's dominant online betting exchange is listing in London. It seems like an investor's dream: Betfair throws off cash, and has technology which is scalable and hard to replicate. But do these glittering prospects really make it worth 33 times last year's EBITDA?

Art imitates Wall Street in Dealbreaker.com sale

4 Oct 2010

The Internet site that thrives on skewering the financial set finds itself in an ironically Wall Streetstyle pickle. Its owner wants to sell, but its editor wants more of the spoils. It s like a big dumb bank buying a securities firm employees get the rewards or they walk.

AOL’s spending spree doesn’t speak to a strategy

28 Sep 2010

The Internet firm is redeploying cash from its fastfading dialup business into the acquisition of dotcom sites. Fair enough AOL needs to remake itself. But it s hard to see an investment thesis in buying a video syndication firm, a hyperlocal journalism site and tech blogs.

Zuckerberg gives it away at Internet speed

23 Sep 2010

Andrew Carnegie said a man who dies rich dies disgraced. Facebook s 26yearold founder is taking note early, giving $100 mln to a troubled U.S. city's schools. It s a generous move and a burnished reputation will probably help the social networking magnate s business, too.

Betfair should break UK tech IPO jinx

21 Sep 2010

Tech groups floating in London this year have tanked. Now Betfair is seeking a possible 1.3 bln stg valuation. But it generates cash, has no debt or private equity investor rushing for the exit, and its online betting exchange has transformed the industry. It should be different.

Web firm deal hints at private equity’s next phase

20 Sep 2010

Hellman & Friedman is buying website owner Internet Brands for $640 mln, a 47 pct premium. The leverage broadly available implies the firm could be stumping up half the equity. If so, it s emblematic of how the business model is changing for buyout barons.

Yahoo’s Asian sale resistance looks futile

16 Sep 2010

The Internet firm s stakes in Chinese and Japanese businesses are worth an estimated $15 bln, or about equal to its enterprise value. The ostensible barrier to exiting is taxrelated. But this may not be the problem it seems. Yahoo would be worth more carved up and refocused.

Apple takes preemptive antitrust strike

9 Sep 2010

Regulators have grown increasingly worried by Apple's monopolistic potential in the mobile market. The company's decision to publish rules governing its online store, greenlight Google to advertise within apps and allow developers to use Adobe may forestall government action.

At Apple the gadget, not content, is still king

1 Sep 2010

Nearly every day brings a new contestant in the fight for the American couch potato. Netflix, Amazon, Hulu and YouTube all want to serve up content. While Apple also rents out video, its new TV device allows users to stream rival services. It's still all about the hardware.

Demand Media’s cheap content yields pricey IPO

13 Aug 2010

Registering domain names and publishing gerbilgrooming tips hardly sounds like a $1.5 bln business. It would put the Web firm on a higher multiple than Apple. Even with the bluechip imprimaturs of Goldman Sachs and Lance Armstrong, Demand s prospectus isn t a convincing howto.