There are media speculations that Blackstone Group and Bain Capital are mulling the option to buy Yahoo Inc for about $25 billion. However, there is no confirmation yet from any of the sides. It has also been said that the duo would be approaching Asian partners, including China’s Alibaba Group and Japan’s Softbank Corp, to make a bid for the same.
For long, the share of the company had been stable at $20 per share, and if this figures is quoted, then the worth of the deal is somewhat closer to $25 billion.
It has been known that Chinese e-commerce giant Alibaba has long been trying to buy back a 40% stake gained by Yahoo, but will it go for this bid is yet not known. The company which has been battling tough competition from Google Inc. and Facebook in growing Internet ad market has been going through rough patch off lately.
“Alibaba Group has not made a decision to be part of a whole company bid for Yahoo”, said Alibaba Group spokesman, John Spelich, when asked about the media reports.
It has been known that the company had been mooting on this option since the time the Internet Company booted out its CEO Carol Bartz. So far, none of the directors have come out to confirm on any such option, Tim Morse, Yahoo’s chief financial officer, has been handling the responsibilities of the CEO. There are possibilities that new CEO is roped in for the same position.
There are others like Silver Lake Partners, Providence Equity Partners and Kohlberg Kravis Roberts & Co who are trying to get hand on the stake of the company. While the news has certainly raised hopes of the investors, shares of the company moved up by 6% $16.72 in extended trading.
Blaming Facebook for its alleged role in carrying out “unfair and deceptive” practices, the Federal Government declared a broad agreement that needs Facebook to maintain high reverence for the privacy requirements and hopes of its users. As a result, the company will be subjected it regular privacy audits for the next two decades.
The order, which was declared on Tuesday in Washington by the Federal Trade Commission, is apparently influenced by modifications made by Facebook in the manner in which it governs the personal information of its users. The changes were made by Facebook earlier in December 2009. The commission argued that Facebook, without offering its users any sort of notification or soliciting their consent in this regard, enforced public information that the Facebook users wished to remain private on their personal pages.
The order also claimed that the social networking giant, having in excess of 800 million users all over the world, in majority of circumstances permitted its advertisers to garner personally identifiable data when users clicked on any of the advertisements displayed at their Facebook pages. Since long, the company claimed that it is not sharing any sort of personal information of its users with the advertisers whose ads are displayed on the personal webpage of a user on Facebook.
The order further claimed that Facebook had in fact, contracting to its policies as mentioned to its users while they sign up on the website, shared user data with advertisers and also with outside, third-party, application developers.
Making the allegations even stricter, the FTC committed deemed that even after a user deletes his or her account on Facebook, the company is still permitting an access to videos and photos.
While expressing his opinion in a long blog post, Facebook Chief Executive Mark Zuckerberg admitted that the company had committed “a bunch of mistakes”, but he claimed that it had already solved various issues highlighted by the FTC
INQ, the social networking handset maker of UK has said that it has tied up with Aircel.
The UK firm has officially arrived in India and is going to start its operations soon.
INQ provides the most popular Facebook phone which has become the latest trend with the “Gen-X”.
Facebook has become the most widely used social networking site all over the world. Users from all age group and segments are using the applications of the site enthusiastically. Moreover, India has become the next target for these social sites as Facebook is becoming more and more popular amongst Indian users along with Orkut and Twitter.
Hence, INQ has decided to enter into this market with its heavily loaded Mini 3G and Chat 3G handsets.
Besides, INQ is also eyeing India’s enormous low-cost handset market. As per the company officials, Indian market is vast and has tremendous potential. After entering to this huge market, INQ may further plan to introduce some of the low-cost phones in the country according to the demands of the consumers.