Musk, Twitter Board Sued in Wake of $7 Billion Commitment

Elon Musk revealed on Thursday he has brought in investors willing to supply $7 billion toward his Twitter buyout. On Friday, he and Twitter were sued by a Florida pension fund seeking to prevent the Tesla CEO’s proposed $44 billion takeover. Prince Alwaleed bin Talal of Saudi Arabia has reportedly agreed to roll his existing $1.9 billion stake into a Musk-controlled Twitter. The fresh endorsement reverses the Saudi’s stance last month, when he tweeted “I don’t believe that the proposed offer by @ElonMusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.” Continue reading Musk, Twitter Board Sued in Wake of $7 Billion Commitment

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

Wall Street Firms Gather to Discuss Blockchain, Digital Dollars

In a private meeting with no media in attendance, more than 100 executives from some of the world’s largest financial institutions met at NASDAQ’s New York City office. They gathered to delve deeper into the promise of blockchain, the technology behind Bitcoin, which became active in 2009. These financial institutions have been wary of Bitcoin, because users are anonymous and can engage in money-laundering and other banking violations. What they looked at was digital U.S. dollars, a “fiat currency” that avoids those risks. Continue reading Wall Street Firms Gather to Discuss Blockchain, Digital Dollars

Google Invests in SpaceX to Push Worldwide Internet Access

SpaceX recently landed a $1 billion investment from Google and investment firm Fidelity. Google’s commitment to SpaceX is part of the company’s ambitious plan to facilitate Internet connectivity on a global scale in order to serve more areas of the world, reach consumers more directly, and ultimately get its products into more hands. In addition, Google has plans to offer a wireless service through deals with Sprint and T-Mobile, which could lead to rivals lowering their prices and improving connectivity speeds. Continue reading Google Invests in SpaceX to Push Worldwide Internet Access

USC Planning to Offer Journalism Course Using Google Glass

While developers consider a number of industries for which Google Glass may have useful applications, some are considering the headset’s potential use in the news business. Professor Robert Hernandez of USC’s Annenberg School for Communication and Journalism is offering a course this fall on Glass Journalism. “The class will consist of teams (Journalist, Designer, Developer) working together to research and develop different types of news apps designed specifically for the Glass platform,” reads a Tumblr post about the course. Continue reading USC Planning to Offer Journalism Course Using Google Glass

SXSW: Neil Young Launches Kickstarter Campaign for PonoMusic

Legendary musician Neil Young, the featured speaker on the eve of South by Southwest Music, introduced PonoMusic, his new high resolution audio ecosystem, to a capacity crowd in Austin, Texas. Only four hours earlier, he launched a Kickstarter crowdfunding campaign, which raised more than 50 percent of its fundraising goal before he appeared onstage. The mission of PonoMusic is to bring the highest-quality music to discerning consumers who want to experience music the way the artists intended. Continue reading SXSW: Neil Young Launches Kickstarter Campaign for PonoMusic