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REUTERS/Mike BlakeViacomCBS Inc (VIAC.O) and Comcast Corp (CMCSA.O) can succeed without acquiring other businesses, IAC (IAC.O) Chairman Barry Diller said during a Reuters Newsmaker event Thursday. The media and Internet mogul, who helped found Fox Broadcasting Company, described competing with Netflix (NFLX.O), which would require significant investment, a "fool's errand" at this point. He described Comcast as being in a “fantastic position” with a cable and broadband business that hedges against NBCUniversal. “I don’t think they have to do anything,” he said of whether Comcast needs to spin off a business or get bigger. The Internet and media mogul brushed off concerns about Netflix’s debt burden.
Persons: Barry Diller, Mike Blake ViacomCBS, Diller, , ” Diller Organizations: IAC, Inc, Wall Street Journal, REUTERS, Mike Blake ViacomCBS Inc, Comcast Corp, Reuters, Fox Broadcasting Company, Netflix, Discovery Inc, Discovery, Warner Brothers Discovery, MGM, MGM Resorts International, Comcast, NBCUniversal, Thomson Locations: Laguna Beach , California, U.S
But there would've been another high school, out of sight, that was different: Pegasus California School. A copy of the Pegasus California School diploma shows that it was issued by the Val Verde Unified School District. Val Verde Unified School District via records request; Samantha Lee/InsiderThe Val Verde Unified School District declined to comment for this story. Pegasus California School in Qingdao, China Yan Cong for InsiderAccording to Long, Pegasus rented its current campus from the Chinese government. The companies had names like Qingdao Pegasus Education LLC, Beijing Pegasus Education Consulting LLC, Shenzhen Pegasus Information Consulting LLC, and Pegasus Education Hong Kong Limited, among others.
Persons: Val, Val Verde's, might've, Steven Ma, , Pegasus, Ma, Christopher Vu, It's, Tony, Thurmond, general's, Samantha Lee, Brennan Burnett, Tom Torlakson, Allen Riedel, Burnett, Ffiona Rees, Rees, Gary Clark, Clark, Torlakson, Riedel, unreceptive, David Long, " Riedel, Long, provosts, Clark marveled, ThinkTank, Ma basked, Ma's, Damien Maloney, Lori Loughlin, Mossimo, Felicity Huffman —, Rick, Steven, it's, Steven Ma's, Dave, Val Verde, Angelica, I'm, I've, Joanne, Arnold Schwarzenegger, California's, Pegasus —, Dave Long's, Dave Long, Perris , California Christopher Vu, Michael McCormick, McCormick, Suzanne Stotlar, Shelly Yarbrough, Stotlar, Yarbrough, Delaine Eastin, China —, John, Chin Tsai, John Ma, Tsai, Tim Mosenfelder, Tom, Cancan Chu, didn't, weren't, Jun Wang, let's, Fred Van Leuven, Evera Spears, Spears, Todd Robbins, Robbins, Daniel Aldrich, San Diego —, Aldrich, Edgar Dormitorio, Bryan Jue, Aldrich he'd, Dan Aldrich, that's, Riverside Christopher Vu, Davis, memorializing, Cynthia Larive, Mandy Loh, Emily Engelschall, Engelschall, Cathy Wang, Dr, Jihong Xie, Xie, That's, wouldn't, Robert Taylor, Taylor, JiaJing Liu Organizations: Verde Unified School District, Los, Pegasus California, Pegasus, University of California, UC Riverside, Val, UC, UC Irvine, Verde Unified School, California Department of Education, Commission, California, Political, Val Verde Unified School District, Government, UCLA, NBC News, Benz, Bloomberg, San Francisco Bay Area, Blues, University of Southern, Institute of International Education, Daxue Consulting, , Pegasus California School, China Yan Cong, Embassy, ThinkTank, Qingdao, Pegasus Culture Training, LinkedIn, Qingdao Pegasus Education, Beijing Pegasus Education Consulting, Shenzhen Pegasus Information Consulting, Pegasus Education Hong Kong Limited, Hong, Pegasus Education, Qingdao Jimo Pegasus Culture Training, Norco Unified School District, Republican, Riverside County, of Education, Dave Long & Associates, Val Verde Board of Education, Pegasus California High School, Val Verde, Southland, Los Angeles Unified School District, Excellence, Think, Inc, Former, of Fame, Contra Costa Board of Supervisors, Senate, Assembly, Val Verde School District, Beer, Tsingtao Beer Group, Tsingtao Brewery, Qingdao Beer, Insider . University of California, High School, of California, Ivy League, UCI, UCI would've, Western Association of Schools, Colleges, University of California's, College Board School, UC Santa Barbara, District, UC system's Office, UC Office, Irvine, of California's, Val Verde Unified, US News, UC Santa Cruz, UC Merced, UCR, University, UC Riverside ., PCS, Riverside, " University of California, UC Davis, Pacific Academy, UC Berkeley Locations: Southern, Los Angeles, Verde, Val Verde, Riverside County, California, Irvine, American, Qingdao, China, Calif, ., Val, Torlakson, Instagram, Taiwan, Northern California, New York, Seattle, Dallas, Austin, Bay, Pleasanton, San Francisco Bay, University of Southern California, Yale, Georgetown, Stanford, — Berkeley, China —, Riverside, China Yan, Steven Ma's Chinese, Hong Kong, Delaware, Beijing, Shenzhen, Marshall, Laguna Beach , California, It's, Perris , California, Pegasus, Yan, United States of America, Ma, Former California, Sacramento, Tsingtao, Perris , CA, America, Val Verde's, ingratiate, Santa Barbara, — Irvine, San, UC Santa, Berkeley, San Diego, UC Riverside . Long, Shandong Province, Pegasus China, United States, England, Canada, Australia, McCormick
A copy of the Pegasus California School diploma shows that it was issued by the Val Verde Unified School District. Val Verde Unified School District via records request; Samantha Lee/InsiderThe Val Verde Unified School District declined to comment for this story. Pegasus California School in Qingdao, China Yan Cong for InsiderAccording to Long, Pegasus rented its current campus from the Chinese government. The companies had names like Qingdao Pegasus Education LLC, Beijing Pegasus Education Consulting LLC, Shenzhen Pegasus Information Consulting LLC, and Pegasus Education Hong Kong Limited, among others. Pegasus California School; Samantha Lee/InsiderDespite the recent adjustments, Pegasus has continued to try to operate its distinctly Californian brand in mainland China.
Persons: Val, Val Verde's, might've, Steven Ma, , Pegasus, Ma, Christopher Vu, It's, Tony, Thurmond, general's, Samantha Lee, Brennan Burnett, Tom Torlakson, Allen Riedel, Burnett, Ffiona Rees, Rees, Gary Clark, Clark, Torlakson, Riedel, unreceptive, David Long, " Riedel, Long, provosts, Clark marveled, ThinkTank, Ma basked, Ma's, Damien Maloney, Lori Loughlin, Mossimo, Felicity Huffman —, Rick, Steven, it's, Steven Ma's, Dave, Val Verde, Angelica, I'm, I've, Joanne, Arnold Schwarzenegger, California's, Pegasus —, Dave Long's, Dave Long, Perris , California Christopher Vu, Michael McCormick, McCormick, Suzanne Stotlar, Shelly Yarbrough, Stotlar, Yarbrough, Delaine Eastin, China —, John, Chin Tsai, John Ma, Tsai, Tim Mosenfelder, Tom, Cancan Chu, didn't, weren't, Jun Wang, let's, Fred Van Leuven, Evera Spears, Spears, Todd Robbins, Robbins, Daniel Aldrich, San Diego —, Aldrich, Edgar Dormitorio, Bryan Jue, Aldrich he'd, Dan Aldrich, that's, Riverside Christopher Vu, Davis, memorializing, Cynthia Larive, Mandy Loh, Emily Engelschall, Engelschall, Cathy Wang, Dr, Jihong Xie, Xie, That's, wouldn't, Robert Taylor, Taylor, JiaJing Liu Organizations: Verde Unified School District, Los, Pegasus California, Pegasus, University of California, UC Riverside, Val, UC, UC Irvine, Verde Unified School, California Department of Education, Commission, California, Political, Val Verde Unified School District, Government, UCLA, NBC News, Benz, Bloomberg, San Francisco Bay Area, Blues, University of Southern, Institute of International Education, Daxue Consulting, , Pegasus California School, China Yan Cong, Embassy, ThinkTank, Qingdao, Pegasus Culture Training, LinkedIn, Qingdao Pegasus Education, Beijing Pegasus Education Consulting, Shenzhen Pegasus Information Consulting, Pegasus Education Hong Kong Limited, Hong, Pegasus Education, Qingdao Jimo Pegasus Culture Training, Norco Unified School District, Republican, Riverside County, of Education, Dave Long & Associates, Val Verde Board of Education, Pegasus California High School, Val Verde, Southland, Los Angeles Unified School District, Excellence, Think, Inc, Former, of Fame, Contra Costa Board of Supervisors, Senate, Assembly, Val Verde School District, Beer, Tsingtao Beer Group, Tsingtao Brewery, Qingdao Beer, Insider . University of California, High School, of California, Ivy League, UCI, UCI would've, Western Association of Schools, Colleges, University of California's, College Board School, UC Santa Barbara, District, UC system's Office, UC Office, Irvine, of California's, Val Verde Unified, US News, UC Santa Cruz, UC Merced, UCR, University, UC Riverside ., PCS, Riverside, " University of California, UC Davis, Pacific Academy, UC Berkeley Locations: Southern, Los Angeles, Verde, Val Verde, Riverside County, California, Irvine, American, Qingdao, China, Calif, ., Val, Torlakson, Instagram, Taiwan, Northern California, New York, Seattle, Dallas, Austin, Bay, Pleasanton, San Francisco Bay, University of Southern California, Yale, Georgetown, Stanford, — Berkeley, China —, Riverside, China Yan, Steven Ma's Chinese, Hong Kong, Delaware, Beijing, Shenzhen, Marshall, Laguna Beach , California, It's, Perris , California, Pegasus, Yan, United States of America, Ma, Former California, Sacramento, Tsingtao, Perris , CA, America, Val Verde's, ingratiate, Santa Barbara, — Irvine, San, UC Santa, Berkeley, San Diego, UC Riverside . Long, Shandong Province, Pegasus China, United States, England, Canada, Australia, McCormick
Mogul Diller says ViacomCBS, Comcast don’t need deals to succeed
  + stars: | 2021-06-10 | by ( Helen Coster | ) www.reuters.com + 0.95   time to read: +2 min
Barry Diller, Chairman and Senior Executive of IAC/InterActiveCorp and Expedia, Inc., speaks at the Wall Street Journal Digital conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike BlakeViacomCBS Inc (VIAC.O) and Comcast Corp (CMCSA.O) can succeed without acquiring other businesses, IAC (IAC.O) Chairman Barry Diller said during a Reuters Newsmaker event Thursday. The media and Internet mogul, who helped found Fox Broadcasting Company, described competing with Netflix (NFLX.O), which would require significant investment, a "fool's errand" at this point. He described Comcast as being in a “fantastic position” with a cable and broadband business that hedges against NBCUniversal. The Internet and media mogul brushed off concerns about Netflix’s debt burden.
Persons: Barry Diller, Mike Blake ViacomCBS, Diller, , ” Diller Organizations: IAC, Inc, Wall Street Journal, REUTERS, Mike Blake ViacomCBS Inc, Comcast Corp, Reuters, Fox Broadcasting Company, Netflix, Discovery Inc, Discovery, Warner Brothers Discovery, MGM, MGM Resorts International, Comcast, NBCUniversal, Thomson Locations: Laguna Beach , California, U.S
Activist investor Ackman says Pershing Square owns 6% of Domino's - WSJ
  + stars: | 2021-05-12 | by ( ) www.reuters.com + 0.58   time to read: +1 min
Bill Ackman, CEO of Pershing Square Capital, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake/File PhotoBill Ackman's Pershing Square Capital Management owns about 6% of Domino's Pizza Inc (DPZ.N), the billionaire investor told the Wall Street Journal on Wednesday. Ackman, whose bets on companies are closely watched, also said he swapped Starbucks Corp(SBUX.O) for the pizza chain, the WSJ added. Domino's shares rose as much as 5.9% to a record $447.10 on the news, while Starbucks fell 1.4%. Pershing Square declined to comment, while Starbucks and Domino's did not immediately respond to Reuters' requests for comment.
Persons: Bill Ackman, Mike Blake, Bill Ackman's, Ackman, Domino's Organizations: Pershing, Capital, Wall Street Journal Digital, REUTERS, Bill Ackman's Pershing, Capital Management, Wall, Starbucks Corp, Starbucks, Thomson Locations: Laguna Beach , California, U.S
Ackman's Pershing Square swaps Starbucks for a slice of Domino's
  + stars: | 2021-05-12 | by ( ) www.reuters.com + 0.99   time to read: +1 min
Bill Ackman, CEO of Pershing Square Capital, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake/File PhotoBillionaire investor Bill Ackman's Pershing Square Capital Management has taken a stake in Domino's Pizza Inc (DPZ.N), the pizza chain said on Wednesday. Ackman, whose bets on companies are closely watched, told the Wall Street Journal in an interview earlier that he had swapped his shares in Starbucks Corp (SBUX.O) for a little under 6% stake in Domino's. Domino's, whose shares rose 5.9% to a record high of $447.1, said in an emailed statement that it welcomed Ackman's investment in the company. Pershing Square declined to comment.
Persons: Bill Ackman, Mike Blake, Bill Ackman's, Ackman Organizations: Pershing, Capital, Wall Street Journal Digital, REUTERS, Bill Ackman's Pershing, Capital Management, Wall Street, Starbucks Corp, Thomson Locations: Laguna Beach , California, U.S, Domino's
Lucy Nicholson | ReutersThis was the supposed to be the Summer of Digital Media. Amidst a boom of special purpose acquisition companies (SPACs), companies including Buzzfeed, Vice, Vox, Bustle and others targeted this summer as a likely timeline for going public. Earlier this year, with so many SPACs entering the market, digital media companies seemed assured of finding a shell company with associated additional equity. That run to quality has tamped down expectations among digital media companies hoping to ride the SPAC wave to give liquidity to long-term shareholders. Buzzfeed may be the only significant digital media company to go public this year, said three of the people.
Persons: Jonah Peretti, Buzzfeed, Lucy Nicholson, Rowe Price, Ben Lerer, spenders, Bryan Goldberg Organizations: Wall Street Journal Digital, Reuters, Digital Media, Securities and Exchange Commission, 7GC, Co Holdings, Fidelity, CNBC, Partners Inc, Bloomberg Locations: Laguna Beach , California, U.S, Buzzfeed, Blackrock
Palantir's Alex Karp gets $1 billion payday in 2020
  + stars: | 2021-04-29 | by ( ) www.reuters.com sentiment -0.98   time to read: +1 min
Alex Karp co-founder and CEO of Palantir Technologies speaks at the WSJD Live conference in Laguna Beach, California, U.S., October 26, 2016. REUTERS/Mike BlakeData analytics firm Palantir Technologies Inc's (PLTR.N) chief earned a billion dollars last year after taking the company he co-founded public, a regulatory filing showed on Thursday. CEO Alexander Karp received a compensation of $1.10 billion that included $797.9 million earned in options and $296.4 million in stock awards. Co-founder and President Steven Cohen was paid $192 million, compared with $16.1 million in 2019. It has also been partnering with big private-sector names including Rio Tinto and IBM for data analytics.
Persons: Alex Karp, Mike Blake, Alexander Karp, Palantir, Steven Cohen Organizations: Palantir Technologies, REUTERS, Technologies, Central Intelligence Agency, Rio Tinto, IBM, Thomson Locations: Laguna Beach , California, U.S, Rio
But for Michael Johnston, it was the perfect time to finally take a gamble on one — and relocate to Las Vegas. Just 19 million people visited Las Vegas in 2020, down 55% from 2019, according to the Las Vegas Convention and Visitors Authority. "And now, for the same price, I live in a newly built three-bedroom townhouse in a stylish middle-class community just south of downtown Las Vegas. "On the contrary, the Las Vegas real-estate market, especially the luxury sector, is in the midst of a boom. Routh Silberman said she expected demand for Las Vegas homes to hold steady through 2021 and into 2022.
Persons: Michael Johnston, Johnston, Angela, untethered Johnson, Angela ., we'd, Ethan Miller, CoreLogic's, Frank Nothaft, Joe Biden, Knight, It's, Kristen Routh Silberman, , Nora Aguirre, Routh Silberman, Aguirre, Sean Tyler, Tyler, Sin City, wailed, didn't, MacDonald Organizations: Vegas, Las Vegas, Las Vegas Convention, Visitors Authority, Casinos, Fox, Consumer Electronics, CES, Relief, Economic Security, Conference of, Bank Supervisors, University of Nevada, Las, Sin, Vegans, MacDonald Highlands Locations: Vegas, Sin City, Las Vegas, Laguna Beach , California, Orange County, MacDonald Highlands, Henderson , Nevada, Park City , Utah, Alabama, Vegas Valley, New York, San Francisco, Seattle, Austin , Texas, Las, University of Nevada Las Vegas, California, East Coast, Washington, Florida, Nevada, America, Los Angeles, Summerlin
Salesforce has said before that Black lives matter, but a message posted to the software company's LinkedIn account last Friday expressed the sentiment about racial equality more vigorously than usual. The spokesperson didn't comment on the content of the LinkedIn post but did point to a February blog post showing the status of diversity efforts. After Salesforce's LinkedIn account published the message on Friday, hundreds reacted with emojis such as the thumbs up and heart, and some users left comments. You're part of ours," the Salesforce account wrote in reply. (In 2018, Bloomberg reported that some Salesforce employees had expressed that the company had misappropriated Hawaiian words and culture.)
Persons: Marc Benioff, Salesforce, CPAC, Cynthia Perry, Vivianne Castillo, Castillo, George Floyd, Google's Howard, SALESFORCE, Salvador Rodriguez Organizations: Salesforce.com Inc, Global Technology, Conservative Political, CNBC, U.S ., Census, American Community Survey, LinkedIn, Bloomberg Locations: Laguna Beach , California, U.S, Florida, Salesforce, Google's
DoorDash reported Q4 2020 earnings after the bell on Thursday. It beat analyst revenue estimates but included a large net loss in its first release as a public company. The company reported a net GAAP, or generally accepted accounting principles, loss of $312 million, which it said was mostly due to IPO-related costs and stock-based compensation. Still, while DoorDash reported 227% growth in marketplace gross order value in Q4, the midpoint of its guidance puts marketplace GOV at 27.7% growth for 2021. In 2019, DoorDash had a net loss of $533 million on revenue of $587 million during those same nine months.
Persons: Tony Xu, DoorDash, Prabir Adarkar, Adarkar Organizations: DoorDash Inc, Street, Tech, CNBC, GOV, New York Stock Exchange, YouTube Locations: Laguna Beach , California, U.S, Covid, California
Over more than three years at the helm of the Justice Department's Antitrust Division, Makan Delrahim has ventured to define antitrust enforcement as much by what it is not as by what it is. During his time at the DOJ, antitrust enforcement became an unusually fashionable topic outside of tight-knit academic circles as progressives and conservatives alike called for the break-up of Big Tech companies including Apple, Amazon, Facebook and Google. The bipartisan push for vigorous antitrust enforcement put pressure on federal agencies to take on the tech companies. Still, Delrahim rejects notions even from his own party that certain issues with the tech platforms can be dealt with through antitrust enforcement. "There are some people who think any enforcement of the antitrust laws is interfering with the marketplace, and they claim to be conservatives.
Persons: Makan Delrahim, It's, they're, Delrahim, Parler, Trump, Robert Bork Organizations: Street, Tech, Justice Department's Antitrust, Antitrust, Google, Time Warner, Visa, Plaid, Federal Trade Commission, DOJ, Big Tech, Apple, Facebook, Amazon, Twitter, CNBC, Mobile, Sprint, Democratic Locations: U.S, Laguna Beach , California, Parler
Breakingviews - Elliott’s HK exit reflects Asia activist reality
  + stars: | 2021-01-20 | by ( Jennifer Hughes | ) www.reuters.com sentiment -0.95   time to read: +2 min
REUTERS/Mike BlakeHONG KONG (Reuters Breakingviews) - Hedge funds are prized for a cold-hearted ability to follow the money. Yet an activist wave across Asia in recent years has largely passed by China and its offshore fundraising hub. In Hong Kong Elliott is best known for a six-year-long ongoing campaign to shake up $6 billion Bank of East Asia, a family-controlled lender whose shares have halved in that time. There were just 17 public campaigns in all of China and Hong Kong combined. China’s concentrated shareholdings and corporate culture that shuns criticism doesn’t suit the usually public efforts of Elliott and other activists.
Persons: Paul Singer, Mike Blake HONG KONG, Elliott, James Smith, Hong Kong Elliott, China’s, Hong Organizations: Elliott Management Corporation, REUTERS, Reuters, of East Locations: Laguna Beach , California, U.S, Hong Kong, Asia, China, Tokyo, London, Hong, of East Asia, Japan
Walmart head of U.S. e-commerce to retire
  + stars: | 2021-01-15 | by ( Reuters Staff | ) www.reuters.com + 0.96   time to read: +1 min
FILE PHOTO: Marc Lore, president and CEO of Walmart eCommerce U.S. and former founder and CEO of Jet.com, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake(Reuters) - Walmart Inc Chief Executive Officer of U.S. e-commerce Marc Lore will be stepping down from his role at the end of the month, a regulatory filing showed on Friday. Lore was the co-founder of Jet.com, which Walmart acquired in 2016 to bolster its e-commerce ambitions and was later absorbed into the retail giant’s own online business. The company said it has unified its store and e-commerce teams, and the combined U.S. omni-channel business will report to Walmart U.S CEO John Furner from Feb. 1. Lore will serve in a consulting role with Walmart through September.
Persons: Marc Lore, Mike Blake, Lore, John Furner Organizations: Walmart, Jet.com, Wall Street Journal Digital, REUTERS, Walmart Inc, omni Locations: Walmart eCommerce, Laguna Beach , California, U.S
Walmart head of U.S. online business to step down
  + stars: | 2021-01-15 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: Marc Lore, president and CEO of Walmart eCommerce U.S. and former founder and CEO of Jet.com, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake(Reuters) - Walmart Inc said on Friday its chief executive for e-commerce operations in the United States, Marc Lore, will step down at the end of the month. Lore joined Walmart in 2016 when it bought Jet.com, an online retailer that he co-founded, to bolster its e-commerce push. Lore will serve in a consulting role with Walmart through September, the company said. Walmart, which combined its store and e-commerce teams last year, said the U.S. omni-channel business will report to U.S CEO John Furner from the start of the next month.
Persons: Marc Lore, Mike Blake, Lore, John Furner Organizations: Walmart, Jet.com, Wall Street Journal Digital, REUTERS, Walmart Inc, Amazon, omni Locations: Walmart eCommerce, Laguna Beach , California, U.S, United States, Jet.com
Signal to ramp up hiring after WhatsApp controversy drives download surge
  + stars: | 2021-01-13 | by ( Munsif Vengattil | Eva | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: Brian Acton, co-founder of WhatsApp, speaks at the WSJD Live conference in Laguna Beach, California October 25, 2016. “We’ve seen unprecedented growth this past week,” Acton said in an email to Reuters. Signal was downloaded by 17.8 million users over the past seven days, a 62-fold rise from the prior week, according to data from Sensor Tower. WhatsApp was downloaded by 10.6 million users during the same period, a 17% decline. “Millions of people value privacy enough to sustain it, and we’re trying to demonstrate that there is an alternative to the ad-based business models that exploit user privacy,” Acton said, adding donations were “pouring in”.
Persons: Brian Acton, Mike Blake, “ We’ve, ” Acton, WhatsApp, Elon Musk, Acton Organizations: Reuters, WhatsApp, REUTERS, Facebook, Signal Foundation, Microsoft, Foundation, Acton, Tesla Inc Locations: Laguna Beach , California, Silicon Valley,
Signal sees "unprecedented" growth after WhatsApp controversy
  + stars: | 2021-01-13 | by ( Munsif Vengattil | Eva | ) www.reuters.com + 0.00   time to read: +2 min
FILE PHOTO: Brian Acton, co-founder of WhatsApp, speaks at the WSJD Live conference in Laguna Beach, California October 25, 2016. Brian Acton, who co-founded WhatsApp before selling it to Facebook and then co-founding the Signal Foundation, declined to give equivalent data for Signal but said that the expansion in recent days had been “vertical”. “We’ve seen unprecedented growth this past week,” Acton said in an email to Reuters. Signal was downloaded by 17.8 million users over the past seven days, a 62-fold rise from the prior week, according to data from Sensor Tower. WhatsApp was downloaded by 10.6 million users during the same period, a 17% decline.
Persons: Brian Acton, Mike Blake, “ We’ve, ” Acton, WhatsApp, Elon Musk, Acton Organizations: Reuters, WhatsApp, REUTERS, Facebook, Signal Foundation, Microsoft, Foundation, Acton, Tesla Inc Locations: Laguna Beach , California, Instagram, Silicon Valley,
Luxury hotels are partnering with professional educators and tutoring companies to offer remote learning support for their ultra-wealthy guests as part of a larger effort to boost sales. Many resorts, like Montage Hotel & Resorts and Auberge Resorts Collection, have launched resort-based programs, pivoted their staff to childcare, and transformed ballrooms into COVID-19-safe classrooms. To survive the COVID-19 pandemic, some luxury hotels catering to ultra-wealthy jetsetters are offering a new amenity: remote learning. The luxury properties offer guests who stay a minimum of seven nights structured education days through the Learn with Auberge program. The resort also offers dedicated Study Suites with WiFi, technical support, and, of course, sparkling ocean views.
Persons: cabanas, Chrissy Bruchey, they've, Chrissy Bruchey Read, Sanjiv Hulugalle, Lani, Hulugalle, Alexia Asomoza, , Ximena, Fernando Flores Organizations: Resorts, Auberge Resorts, AAA, Academy, Montage Academy, Princeton, Montage Resorts, Auberge, Mauna, Waldorf Astoria, TakeLessons, Business Locations: COVID, Mita, Mexico, Deer Valley , Utah, Cabos, Laguna Beach , California, Palmetto Bluff , South Carolina, Los Cabos, Aspen , Colorado, Napa Valley, Mauna Lani, Hawaii, US, Lani, cabanas, Mexican
The billionaire investor Bill Gross has been embroiled in a contentious months-long legal battle with his neighbors in Laguna Beach, California. The billionaire bond investor Bill Gross and his tech-entrepreneur neighbor are embroiled in a legal battle over the "Gilligan's Island's" theme song and a $1 million sculpture. Towfiq presented recordings at a court hearing in Santa Ana on Monday where the "Gilligan's Island" theme song can be heard playing in the background. When presented with the recordings in court, Schwartz admitted to loving the theme song but denied ever playing it loudly. "'Gilligan's Island,' I love that song," Schwartz said.
Persons: Bill Gross, Gross, Amy Schwartz, Mark Towfiq, Towfiq, Schwartz, Laurence Darmiento, Dale Chihuly, Carol Nakahara, PATRICK T, FALLON, Sue Gross Organizations: Los Angeles Times, Times, Bloomberg, Gross, Times . Locations: Laguna Beach , California, Santa Ana, Laguna Beach, Santa Ana , California, Pimco
Cloud companies have performed well this year, as the Covid pandemic has forced companies, schools and governments to tap new options to keep operations going while people stay home. The next two companies in the index that come closest to Zoom's performance are not nearly as well known: Cloudflare and Fastly. Cloudflare stock is up about 380% for the year, and Fastly shares are up 373%. By way of comparison, Cloudflare's revenue rose about 48% on an annualized basis in the second quarter, and the growth accelerated to 54% in the third quarter. Fastly, for its part, delivered 62% growth in the third quarter, and it slowed to 42% in the third quarter.
Persons: Matthew Prince, Akamai, it's Organizations: Cloudflare Inc, Street, Tech, Nasdaq Locations: Laguna Beach , California, U.S, Fastly
Former Zappos CEO Tony Hsieh dies at 46
  + stars: | 2020-11-28 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: Tony Hsieh, CEO of Zappos, speaks during the Wall Street Journal Digital Live (WSJDLive) conference at the Montage hotel in Laguna Beach, California October 20, 2015. REUTERS/Mike Blake(Reuters) - Tony Hsieh, former chief executive officer and founder of online shoe and clothing retailer Zappos, died on Friday, the company said in a statement. In tribute to Hsieh, Governor of Nevada Steve Sisolak said in a post on Twitter, “Tony Hsieh played a pivotal role in helping transform Downtown Las Vegas.”Hsieh retired this past summer after spending 20 years with the company, Zappos CEO Kedar Deshpande said in statement. Amazon.com Inc, which bought Zappos for $1.2 billion in 2009, said “We are deeply saddened to hear of Tony Hsieh’s untimely passing, and our thoughts are with his family and friends. Tony was a visionary leader and innovator who will be greatly missed.”
Persons: Tony Hsieh, Mike Blake, Hsieh, Nevada Steve Sisolak, “ Tony Hsieh, ” Hsieh, Kedar Deshpande, ” Deshpande, Tony Hsieh’s, Tony, Organizations: Zappos, Street, REUTERS, Twitter, Downtown, Amazon.com Inc Locations: Laguna Beach , California, Las Vegas , Nevada, Connecticut, Nevada, Downtown Las Vegas
Breakingviews - Elliott’s Swiss cookie raid merits activist slap
  + stars: | 2020-11-24 | by ( Karen Kwok | ) www.reuters.com + 0.00   time to read: +2 min
The U.S. hedge fund, led by billionaire Paul Singer, is planning a 793 million Swiss franc (733 million euros) bid for debt-laden baker Aryzta, maker of Otis Spunkmeyer biscuits. Yet with the pandemic easing, the Swiss group’s shareholders, which also include some activists, have good reason to hold out. Yet years of mismanagement have seen revenue shrink from 3.8 billion euros in 2015 to just 2.9 billion euros in 2020, and the operating margin has collapsed. Using UBS estimates, it could be worth 788 million euros. Give Jordi another year to turn around the remaining business, and it could generate EBITDA of 219 million euros in 2022, UBS analysts reckon.
Persons: Paul Singer, Otis Spunkmeyer, Aryzta, Elliott, Urs Jordi, Jordi Organizations: Elliott Management Corporation, LONDON, Reuters, Elliott Advisors, Swiss, North America, UBS, Cobas Asset Management Locations: Laguna Beach , California, U.S, IAWS, North
DoorDash, Airbnb, Affirm, Roblox and Wish all unveiled their prospectuses in the past eight days, with plans to go public before year-end. DoorDash revenue more than tripled in the third quarter as many restaurants turned to delivery as their primary source of business. Top line: Revenue jumped to $879 million in the third quarter from $239 million a year earlier, spurred by order growth of 237%. Bottom line: Airbnb reported a net income of $219 million in the third quarter, a slight drop from a year earlier. When business came to a halt late in the first quarter, Airbnb had to turn to the debt markets, raising $2 billion in high-interest loans, and cut its valuation.
Persons: Andrew Harrer, that's, Palantir, Airbnb, it's, Tony Xu, Martina Albertazzi, DoorDash, we're, Max Levchin, Roblox Organizations: Bloomberg, Getty Images Tech, DoorDash Inc, Street, Tech, Getty, Revenue, PayPal, Shopify Locations: Washington ,, Snowflake, China, Laguna Beach , California, U.S, Elm
DoorDash makes U.S. IPO filing public, reveals rapid revenue growth
  + stars: | 2020-11-13 | by ( Reuters Staff | ) www.reuters.com sentiment -0.88   time to read: +1 min
FILE PHOTO: Tony Xu, co-founder and CEO of DoorDash speaks at the WSJTECH live conference in Laguna Beach, California, U.S. October 22, 2019. In its IPO filing, DoorDash reported revenue of $1.92 billion for the first nine months of 2020, up more than three times from the same period a year earlier. DoorDash filed for an IPO of $100 million, although that is a placeholder amount and is expected to change. The startup had confidentially filed for an IPO in February, following the likes of ride-hailing companies Uber Technologies Inc UBER.N and Lyft Inc LYFT.O, which went public last year. Goldman Sachs and J.P. Morgan are the lead underwriters for DoorDash’s IPO.
Persons: Tony Xu, DoorDash, Mike Blake, Max Levchin’s, Goldman Sachs, J.P, Morgan Organizations: REUTERS, Inc, SoftBank Group, New York Stock Exchange, PayPal, Uber Technologies, DoorDash’s Locations: Laguna Beach , California, U.S
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