Internet Privacy Legislation Is Overturned in Win for Telecoms

In a 215-to-205 vote that largely followed party lines, House Republicans successfully dismantled the new FCC Internet privacy protections for individuals, which was landmark legislation of the Obama administration. Overturning the legislation marks a victory for telecoms that are now free to collect and sell data on users’ online activities without permission, although some have expressed plans to honor voluntary privacy policies. The protections were originally slated to go into effect later this year. Continue reading Internet Privacy Legislation Is Overturned in Win for Telecoms

Pinterest, Targeting $500 in Revenue, Could Be Prepping IPO

Pinterest, now in its third full year earning selling ads, is targeting more than $500 million in revenue this year. The company earned $100 million in revenue in 2015 and $300 million last year. Some close to Pinterest say the company is gearing up for an eventual IPO. “The company hired its first CFO, Todd Morgenfeld, from Twitter back in October, and has Facebook’s former monetization director, Tim Kendall, overseeing all of Pinterest’s revenue efforts, among other things,” reports Recode. Those close to the company suggest that if Snap “can fetch a valuation north of $20 billion on the public markets, Pinterest is in good shape to do something similar.” Continue reading Pinterest, Targeting $500 in Revenue, Could Be Prepping IPO

U.S. Claims That Russian Hackers Were Behind Yahoo Attack

The Department of Justice officially charged four people yesterday in connection with Yahoo’s 2014 data breach that reportedly resulted in the theft of data from 500 million Yahoo accounts. According to the indictment, the Russian government used the data obtained by two intelligence officers (Dmitry Dokuchaev, Igor Sushchin) and two hackers (Alexsey Belan, Karim Baratov) to spy on White House and military officials, bank executives, cloud computing companies, a senior level airline official, a Nevada gaming regulator, as well as Russian journalists, business execs and government officials. Continue reading U.S. Claims That Russian Hackers Were Behind Yahoo Attack

IBM and Salesforce to Link AI Technologies for Data Analytics

Chief execs Marc Benioff of Salesforce.com and Ginni Rometty of IBM announced a new partnership yesterday that will combine the two companies’ artificial intelligence technologies to create new data analytics offerings for helping others target products and services. Available in the second half of 2017, the offerings will introduce “integrated AI services that weave the broad human-like conversation and learning capabilities of IBM’s Watson with Salesforce’s more sales-oriented Einstein,” reports The Wall Street Journal. In an “effort to reinvent itself for the cloud-computing era,” IBM has been tailoring Watson “for a variety of industries including health care, financial services and automobiles.” Continue reading IBM and Salesforce to Link AI Technologies for Data Analytics

Google Offers Up its Global Cloud-Based Database Technology

Google’s Spanner, developed a decade ago, created a way to store information across millions of machines in a multitude of data centers around the world. Despite its global reach, Spanner behaves as if it operates in a single location, meaning it can reliably replicate and change data without contradicting actions taken at a different location, and retrieve copies if one of the centers goes down. Since its creation, Spanner has become the foundation for 2,000 Google services including Gmail and AdWords. Now, Google plans to unveil Spanner to everyone as a cloud computing service. Continue reading Google Offers Up its Global Cloud-Based Database Technology

Amazon: Prime, Other Subscription Services Earn $6.4 Billion

For the first time, Amazon is revealing earnings from its Prime membership program as well as other subscription services, in a 77-page document. Up until now, the company has been tight-lipped on such numbers, leaving investors to wonder how these important services are faring. The last time Amazon revealed numbers, in April 2015, it detailed the profitability of its Amazon Web Services, resulting in analysts and investors bumping the company’s value upwards. Since then, shares in Amazon have more than doubled. Continue reading Amazon: Prime, Other Subscription Services Earn $6.4 Billion

Chinese Company Looks to Buy U.S. Money-Transfer Provider

Ant Financial Services Group, China’s largest online-payments company, has announced an $880 million deal to acquire Dallas-based money-transfer provider MoneyGram International. Ant Financial split off from Alibaba Group Holding Ltd. in 2011 and is controlled by Alibaba founder Jack Ma. “With the deal, Ant Financial would gain a large footprint and a brand name in the U.S. and expand its global money-transfer business, ultimately bringing it into closer competition with PayPal” and others, reports The Wall Street Journal. However, the deal could be scrutinized by the new presidential administration as global competition is being called into question, despite Donald Trump’s recent discussions with Ma to help create jobs. Continue reading Chinese Company Looks to Buy U.S. Money-Transfer Provider

Cisco Systems Plans $3.7 Billion Acquisition of AppDynamics

As part of its push to ramp up software offerings for enterprise customers, Cisco Systems is purchasing software maker AppDynamics Inc. for a premium $3.7 billion, just as the company was about to go public. AppDynamics software helps companies — including airlines, banks and retailers — monitor their applications’ performance and address any potential problems across cloud services offered by Google, IBM and others. The startup was founded by engineer Jyoti Bansal in 2008. Continue reading Cisco Systems Plans $3.7 Billion Acquisition of AppDynamics

Wall Street Adopts Blockchain Technology to Record Trades

The Depository Trust and Clearing Corporation (DTCC), the “back end” for much of Wall Street trading, is replacing a central database with Bitcoin-inspired software. The New York-based DTCC records and reports almost every stock, bond and valuable derivative trade in the U.S. IBM, already experienced in blockchain technology, is leading the DTCC software transition, which is slated to be functioning by early 2018. The shift marks Wall Street’s most serious effort thus far to adopt Bitcoin’s underlying technology. Continue reading Wall Street Adopts Blockchain Technology to Record Trades

CES Will Showcase Differential Privacy for Autonomous Living

At CES 2017, Honda’s theme will be a “cooperative mobility ecosystem,” a confluence of last year’s two showstoppers: autonomous driving and the rise of artificial intelligence. These arenas could foster mass adoption of differential privacy. Data aggregation is critical to the success of autonomous driving, and the AI-centric, newly coined notion of autonomous living, but this collection requires user buy-in. With nearly half of all Internet users expressing that privacy and security concerns are limiting their use of the Internet, new means of protecting user data will be a key theme throughout CES. Continue reading CES Will Showcase Differential Privacy for Autonomous Living

International Law Enforcement Takes Down Avalanche Botnet

An international team of law enforcement agencies and security firms just took down “Avalanche,” a botnet that has been engaged in phishing attacks and at least 17 different malware families since at least late 2009. The team took offline more than 221 servers and more than 800,000 domain names used by Avalanche, and conducted searches and arrests in five countries, according to a statement released by the FBI and U.S. Department of Justice. Avalanche malware impacted victims in over 180 countries. Continue reading International Law Enforcement Takes Down Avalanche Botnet

Fitbit Close to Acquiring Struggling Smartwatch Maker Pebble

According to a report from The Information, fitness band market leader Fitbit is close to finalizing a deal to purchase smartwatch maker (and Kickstarter success story) Pebble. The startup was said to be facing financial challenges and looking to sell. Fitbit is reportedly looking to pick up Pebble’s intellectual property and software, and is expected to shutter the brand and its products over time. While a dollar amount for the deal has not been revealed, some place the purchase price in the $34-40 million range. “Watch maker Citizen was interested in purchasing Pebble for $740 million in 2015,” reports TechCrunch. “This deal failed and before the launch of the Pebble 2 Intel made an offer for $70 million.” Continue reading Fitbit Close to Acquiring Struggling Smartwatch Maker Pebble

Daily Fantasy Sports: FanDuel and DraftKings Agree to Merge

Former rivals DraftKings and FanDuel announced they plan to merge their daily fantasy sports operations into one company, to be run by DraftKings CEO Jason Robins. FanDuel chief exec Nigel Eccles will become chairman. The board will include three directors each from DraftKings and FanDuel, plus an independent director, while headquarters will be divided between New York and Boston offices. The deal, which aims to increase innovation by freeing up money, is expected to close during the second half of next year. Continue reading Daily Fantasy Sports: FanDuel and DraftKings Agree to Merge

Symantec Agrees to Purchase LifeLock for $2.3 Billion in Cash

Computer security company Symantec Corp. will acquire LifeLock Inc. for $2.3 billion in a deal that will broaden Symantic’s offerings beyond its antivirus software. LifeLock, which sells identity-theft protection services, currently has more than 4.4 million subscribers. “Symantec hopes to integrate LifeLock with its Norton antivirus businesses into a single product line after the acquisition closes, expected early next year,” reports The Wall Street Journal. In June, Symantec acquired Blue Coat Systems for $4.65 billion to add cyberdefense technologies to its portfolio. Earlier this year, the company “sold its Veritas data-storage unit to Carlyle Group for $7.4 billion.” Continue reading Symantec Agrees to Purchase LifeLock for $2.3 Billion in Cash

AOL Layoffs Reflect New Emphasis on Mobile, Video and Data

AOL is planning to release 5 percent of its staff today, affecting about 500 employees. “CEO Tim Armstrong said that most of the cuts will come in its corporate units, while resources will be shifted more at mobile, video and data offerings going forward,” reports Recode. AOL, which was purchased last year by Verizon, recently added 1,500 employees from its ad deal with Microsoft and acquisition of Millennial Media. AOL’s current structure features its media unit (with properties such as Huffington Post and TechCrunch) and its platforms groups, which includes its advertising tech. “Armstrong said the layoffs are not related to current discussions AOL execs are having with Yahoo counterparts about integration between the two companies,” notes Recode. Continue reading AOL Layoffs Reflect New Emphasis on Mobile, Video and Data

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