Perhaps you've heard that Facebook is going public this week in a massive IPO that values the company at over $100 billion. There's an apocalyptic air about the frenzy to be the first to invest in Facebook, as if this is the last chance we'll ever have to throw our money into an overhyped tech company stock. And here…
Never underestimate the power of hype. When Groupon's clattering clown car went public today, its stock soared 40% to $28 a share from its IPO price of $20. Groupon CEO Andrew Mason—that Andrew Mason—is now worth $1.3 billion. Happy Friday!
Because it loses tons of money, Groupon is promoting its IPO using an inflated income number that excludes marketing and customer acquisition costs. Why would you do that? Well, that's exactly what the SEC is now asking.
Goldman Sachs and Russian investment firm Digital Sky Technologies have invested $500 million into Facebook in a deal that values the social network at $50 billion—more than eBay, Yahoo! and Time Warner. What's cool now, Justin Timberlake?
Suddenly profitable GM has filed for an initial public offering of $10 to $20 billion.
FriendFinder Networks, the publisher of Penthouse and operator of adult-classifieds websites, is facing a sexy legal scandal. A former top executive who went public with her grievances has now filed a lawsuit.
Internet porn has devastated old-fashioned smut rags. We now hear a top executive at FriendFinder Networks, the publisher of Penthouse, wants to close the money-losing magazine down. But his boss denies it.
A porn star draping boobs over an employee's head. Lapdances on the company dime. $50 million in back taxes. These are just some of the charges Penthouse publisher FriendFinder Networks is facing from an ex-employee.
Andrew Conru, a geeky mechanical engineer turned porn baron who founded one of the Web's raciest personals site, made out well when Penthouse bought Adult FriendFinder. He even unloaded a $125,000 car on the operation.
Jason Calacanis, the mop-haired founder of Mahalo, an overfunded Web directory, is musing on Twitter about "tickers and rallies past" — a Proustian substitution of stock markets for madeleines. But what, exactly, does he have to be nostalgic for?
Here's a worthy contrarian to pop the bubble in Facebook bears. In 2003, former Wall Street analyst Lise Buyer wrote Google CEO Eric Schmidt and founders Larry Page and Sergey Brin a note reading: “I don’t know if you’ll ever want to go public but I bet that, having been on the other side of the table, I could be…
