Kordestani Will Be Paid A Base Salary Of $50k As Twitter Chairman, With Up To 1.2M Shares On Top

omid kordestani Twitter today released the details of how its new executive chairman Omid Kordestani will be compensated. The social media company says that Kordestani, who was poached from Google and was apparently the company’s highest paid employee in 2014, will be paid a base annual salary of $50,000, and will have the option of getting up to 1.2 million shares on top of that. The shares are… Read More

Red Hat Is Buying IT Automation Startup Ansible, Reportedly For Around $100M

redhat_hat Open source giant Red Hat is making another acquisition to build out its enterprise IT portfolio: today the company announced that it would buy Ansible, an IT automation solutions specialist that helps companies build and manage hybrid IT deployments across the cloud and on-premise solutions. The acquisition had been rumored to be in the works for a price of over $100 million. Officially,… Read More

Venture capitalists invest in Bambeco, RedOwl, Tessemae’s

Eco-friendly online retailer Bambeco and cybersecurity firm RedOwl Analytics were among the Baltimore-area firms that netted millions in new venture capital between July and September, according to a report released Friday. In all, venture capitalists invested $144 million in 24 deals with Maryland firms in the third quarter of this year, according to the report by PricewaterhouseCoopers and the National Venture Capital Association, which uses data from Thomson Reuters.

Venture capitalists invest in Bambeco, RedOwl, Tessemae’s

Eco-friendly online retailer Bambeco and cybersecurity firm RedOwl Analytics were among the Baltimore-area firms that netted millions in new venture capital between July and September, according to a report released Friday. In all, venture capitalists invested $144 million in 24 deals with Maryland firms in the third quarter of this year, according to the report by PricewaterhouseCoopers and the National Venture Capital Association, which uses data from Thomson Reuters.

Alibaba submits offer to buy Chinese video streaming giant Youku Tudou

youku

In a massive bet on Internet video, China’s Alibaba announced today it has made a $4.2 billion bid to acquire Youku Tudou.

The move is not entirely shocking. Last year, Alibaba invested $1.22 billion in the company, which offers a YouTube-like service in China.

That gave Alibaba and its investment partner Yunfeng Capital each an 18.5 percent stake in Youku Tudou.

Now, facing own concerns about slowing growth, Alibaba is grabbing the rest of the company.

“We believe that the proposed transaction, with tighter integration of our resources, will help Youku achieve exciting growth in the years ahead,” said Alibaba chief executive Daniel Zhang in a statement.

The deal must still be approved by Youku Tudou’s shareholders, though it has the support of the company’s founders.

It will be interesting to see if that approval comes easily or not. While the price tag seems hefty at $4.2 billion, it is only a modest premium over the company’s $3.8 billion market capitalization.

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British court rules that Uber is legal in setback for London taxi industry

2015-08-21T062019Z_1_LYNXNPEB7K08N_RTROPTP_3_SPAIN-UBER

The U.K. High Court ruled today that Uber’s app does not violate the nation’s taxi regulation handing the ride-hailing service an important regulatory victory.

Earlier this week, London’s transport authority asked the High Court for its opinion on Uber’s legal status. Specifically, the agency wanted to know if the court believed the smartphone app met the legal definition of a “taximeter.”

Taximeters is the device the let’s taxis adjust their fare throughout the day based on things like traffic conditions. While it’s legal for taxis to use them, they’re not permitted for “private hire vehicles.”

Uber is considered a PHV in the UK, and thus a negative ruling could like have placed serious limitations on the service, if not an outright ban.

But the court ruled the Uber app is not a taximeter, according to a tweet from the Wall Street Journal.

 

Like many other regions, London’s taxi industry has been fighting legal and public relations battles against Uber. Those efforts are likely facing even steeper odds after today’s ruling.

 

 

 










Commercial drone approvals have exploded following FAA rule changes

A DJI drone taking off.

For all the buzz around drones being used for business, getting the necessary approval from the Federal Aviation Administration could be a chore.

But no more.

Following a change in policy earlier this year, there has been a sharp spike in the number of drones that have received the necessary exemption to be used for commercial purposes, according to the latest data from Silk.co, a San Francisco-based data visualization company.

Between September 2014 and March 2015, the FAA approved 60 commercial exemptions for commercial drones.

Then, in March, the FAA announced it would adopt a more flexible approach to reviewing commercial drone applications.

The result: Between April and August, 1,307 exemptions were granted by the FAA for commercial drones.


Data from faa-drone-exemptions.silk.co

Silk notes that half of all drones approved in the history of the program came in the two most recent months. “A sign of how the agency is quickly speeding up the process,” the report says.

The number one industry is naturally photos and films, followed by commercial real estate.


Data from faa-drone-exemptions.silk.co