IAC breakup gives Diller leverage with Malone 31 Oct 2007 The two media moguls are fighting over how to unwind their partnership in IAC. Malone owns a $2bn stake and wants IAC s cable shopping channel, HSN. Diller may want Malone off his back. But shareholders would only be served if Malone pays a premium for HSN. Spinning it off makes this more likely.
Chinese internet groups don’t need Nasdaq any more 29 Oct 2007 Many Chinese internet companies have chosen to list in New York over Hong Kong or Shanghai. Nasdaq simply attracted a deeper pool of capital. The stunning $1.5bn float of internet auction firm Alibaba has turned this equation on its head.
Why didn’t Facebook just go public? 26 Oct 2007 The social networking site raised $240m from Microsoft and may pull in $500m more. That s an unusually large VC round. The reason lies in its hugely successful cultivation of thirdparty software developers. That makes the site sticky, but creates huge risks. Until these are under control, Facebook shouldn t go public.
Ebay admits buyer’s remorse over Skype 1 Oct 2007 It s a delicious bit of irony that the auction company got carried away and paid $1.4bn too much for the internet telecom group. Ebay might be better off selling, but it will have to live with its tchotchke a bit longer. It will pay $195m in handling costs if it sells before April 2008.