The company also reported its slowest revenue growth in 18 quarters in the three months ended June 30, and said Chairman Max Levchin would step down "to pursue other interests." There has been no decision on a replacement, Yelp said. Yelp, whose shares fell more than 16 percent in extended trading, said it expected to report net revenue of $139 million-$142 million in the third quarter - well below the $152.6 million average analyst estimate. Yelp's subscriber growth has been slowing in a crowded market.
"This is unacceptable and we're not happy about it," Jack Dorsey, who stepped in as interim chief executive on July 1, said on a call with analysts. Twitter said it had 304 million core users in the second quarter, up from 302 million in the prior quarter. Twitter's struggles to increase its audience worries investors, who are focused on the company's growth potential, and the latest figures did little to reassure them.
(Reuters) - Media mogul Barry Diller's IAC/InterActiveCorp reported a better-than-expected quarterly profit as more users signed up for its dating services and the paid version of its mobile app Tinder outperformed the company's expectations. Shares of IAC, whose portfolio also includes dating website Match.com as well as Investopedia and Dictionary.com, rose nearly 2 percent in trading after the bell on Tuesday. The company's search business is its largest, but the dating business Match Group is seen as the crown jewel of the conglomerate and has been driving strong results for the past few quarters.
Investors in social media shares have zeroed-in on Facebook Inc , piling into stock options to add bullish bets on the company in the days ahead of its Wednesday earnings. Facebook escaped a rout in social media stocks after last quarter's results and its shares are up about 20 percent this year. “Facebook is definitely the standout leader in the group,” said Adam Sarhan, chief executive of Sarhan Capital.
(Reuters) - Baidu Inc's quarterly profit missed analysts' estimates as China's biggest Internet search company spent heavily to diversify away from its core search advertising business, which is becoming less profitable and more competitive.
By Lisa Richwine ANAHEIM, California (Reuters) - For the first time, cable TV network Nickelodeon staged a casting call at VidCon, a convention that draws stars of YouTube and social media like Vine, Instagram and Snapchat and their passionate followers. The Viacom-owned channel's talent search is one way traditional TV networks are recruiting Internet personalities to build audiences. YouTube stars include comedians, beauty gurus, product reviewers, gamers, musicians and fitness buffs who post videos of themselves, often looking directly into the camera.
Hillary Clinton's presidential campaign said on Saturday the former secretary of state will testify on Oct. 22 before a House committee investigating the 2012 Benghazi, Libya, attacks, but a spokesman for the panel said no date had been set. Republican Representative Trey Gowdy, chairman of the Benghazi investigation committee, had sought to hear from Clinton on the attacks, in which four Americans were killed, and her use of a private email account while she was America's top diplomat. A spokesman for Clinton, the front-runner in polls for the Democratic nomination in next year's presidential election, said she had accepted an offer from the committee to testify on Oct. 22.
By Tom Miles GENEVA (Reuters) - The World Trade Organization finalised a list of 201 information technology products to be freed from import tariffs in a $1.3 trillion deal on Friday, but said it was still short of the critical mass of countries needed to put it into force. “Today's agreement is a landmark,” WTO Director-General Roberto Azevedo said in a statement, adding that the value of trade involved was worth 7 percent of the global total, more than world trade in cars. The product list includes new-generation semi-conductors, GPS navigation systems, medical products which include magnetic resonance imaging machines, printed circuits and satellites, the WTO said.
Uber Technologies Inc responded by offering free rides to customers to help alleviate transport issues on what it called a "difficult day for getting around." The company has come under fire in countries around the world, with local taxi drivers complaining that Uber drivers are not properly regulated and have fewer overhead costs, which makes them unfairly competitive. Lawmakers in Sao Paulo, Brazil's biggest city, and capital city Brasilia have already voted to ban Uber after protests by local taxi drivers. In Rio, cabbies parked their yellow taxis in a chain stretching for 5 kilometers (3 miles) along one of the city's main thoroughfares that connects the affluent south zone with the central business district.
"We'd like to make it clear that Armslist does not sell guns," Jonathan Gibbon, owner of the website, said in the video. The statement appeared on the website a day after the FBI said it knew where the suspect, Mohammod Youssuf Abdulazeez, obtained his guns but would withhold the information for now. Two friends of Abdulazeez told Reuters on Saturday that he had purchased three guns on armslist.com after returning from a 2014 trip to Jordan.
The San Francisco-based company, one of Silicon Valley's most successful start-ups since it was founded five years ago by a trio of graduates, has so far snubbed an initial public offering in favor of ever-larger private fundraising rounds. Tosi's appointment, however, would better position the company to go public. The 47-year-old executive joined Blackstone in 2008, one year after the private equity firm went public.
By Alastair Sharp TORONTO (Reuters) - Toronto taxi drivers are launching a class-action lawsuit against ride-sharing company Uber Technologies Inc [UBER.UL], seeking more than C$400 million ($307.27 million) in damages and an injunction to stop it operating in the Canadian province of Ontario. Law firm Sutts, Strosberg LLP, which is representing the taxi drivers, said in a statement on Thursday that the named plaintiff, cab driver Dominik Konjevic, alleges that "Uber X and Uber XL have created an enormous marketplace for illegal transportation in Toronto".
By Euan Rocha TORONTO (Reuters) - BlackBerry Ltd said on Wednesday it is buying privately-held AtHoc, a provider of secure, networked crisis communications, as it moves to broaden its software offering and generate revenue from its BBM messaging service. San Mateo, California-based AtHoc's services are used by a number of top clients including the U.S. Department of Defense, Homeland Security and a host of blue-chip companies, to provide software that seamlessly allows them to reach staff via their smartphones, or via digital displays, radios, and even sirens, in times of crisis. "AtHoc is an alerts system, but it also needs richer content and that can be provided by BlackBerry Messenger (BBM), which offers not just text, but voice, picture and video sharing, so we can provide a much richer experience to their clients," said BlackBerry Chief Executive John Chen in an interview.
The petition for "discovery before suit" seeks to identify the person against whom a lawsuit can be filed. Herbalife said it wants Twitter to provide information such as IP addresses and account details of the user who vilified the company and its management as "thieves, pill pushing frauds and bullies". "The twitter feed of @AfueraHerbaLIES contains not only defamatory, disparaging, and deceptive posts about Herbalife and its products, but also contains numerous insulting and offensive statements about Herbalife's management team, its members, and even federal regulators," the company said in the petition filed on Monday in Illinois.
Darktrace, a cyber-security firm backed by former Autonomy boss Mike Lynch, said it had raised $22.5 million from U.S.-based venture capital company Summit Partners in a funding round that valued the company at more than $100 million. The company was one of Lynch's first investments after he left Hewlett-Packard Co in 2012 in an acrimonious split over the $11 billion acquisition of Autonomy. HP is suing Lynch and a former colleague for more than $5 billion over their management of Autonomy.
Microsoft Corp reported a $3.2 billion quarterly net loss as it wrote down its Nokia phone business and demand fell for its Windows operating system. The company took a charge of $7.5 billion in the fourth quarter related to the restructuring of its Nokia handset business, which it acquired last year. Microsoft's shares fell 3 percent to $45.80 in extended trading on Tuesday.