Technology Report: Apple, Conde Nast reach "New Yorker" iPad deal

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	05/9/2011
Good afternoon Bit LinkedIn, the social site for business professionals which attracts professionals and job seekers with 100 million worldwide members, is hoping to cash in with a public debut valuing the company at more than $3 billion. Last week's trading debut of Renren, one of the biggest social networking companies in China, is another indicator of investor interest in social media companies. Renren's stock surged 28.6 percent in its May 4 debut. The tantalizing prospect of finding the next Facebook, Groupon or Twitter is driving the biggest rush of venture capital since dot-com mania first boomed and then fizzled more than a decade ago, writes Jenny Harris and Jennifer Rogers. But characteristics of the current boom do set it apart. Online advertising and e-commerce are accepted as reliable revenue sources and there are more profitable young companies today, Harris and Rogers argue. Apple overtook Google as the world's most valuable brand, ending a four-year reign by the Internet search leader, according to a new study by global brands agency Millward Brown. Apple's brand is now worth $153 billion, almost half Apple's market capitalization, says the annual BrandZ study of the world's top 100 brands. "Apple is breaking the rules in terms of its pricing model," Millward Brown's Peter Walshe told Reuters. "It's doing what luxury brands do, where the higher price the brand is, the more it seems to underpin and reinforce the desire." YouTube added more than 3,000 movies for its users to rent starting on Monday, offering a mix of older Hollywood blockbusters, independent and foreign movies for 99 cents up to $3.99 each. Most of the movies on the site are priced around $2.99. The goal for YouTube is to drive more views of its videos which, in a fast-evolving Web content sector, need to offer better production values to compete against paid professional offerings. Top online group buying site Groupon tied up with Live Nation to launch a new online ticketing deals website that will allow customers to buy tickets to concerts, theaters and other live events at discounted prices. The new site, GrouponLive, timed to launch with the summer concert season, will act as a local resource for Live Nation events and clients of its ticketing business, Ticketmaster, the companies said in a statement. LATEST NEWS Apple, Conde Nast reach "New Yorker" iPad deal May 09, 2011 01:53 PM ET NEW YORK (Reuters) - Apple Inc and magazine publisher Conde Nast reached a deal to offer the New Yorker on the iPad device in the latest sign that relationships are improving between the technology company and content owners. | Full Article Activision Blizzard's quarterly profit, sales rise May 09, 2011 04:30 PM ET NEW YORK (Reuters)- Activision Blizzard posted higher profit and revenue in the fourth quarter, driven by sales of online content that users downloaded to accompany its "Call of Duty: Black Ops" video game. | Full Article Zynga buys iPhone game engine development team May 09, 2011 04:29 PM ET NEW YORK (Reuters) - Zynga Inc is hiring two key developers of cocos2d, a popular game engine that powers top grossing iPhone apps such as "Tap Pet Hotel" and "Tap Zoo" in a move that will help the social games company boost its presence on smartphone and tablets. | Full Article Twitter outings undermine "super injunctions" May 09, 2011 07:48 AM ET LONDON (Reuters) - Twitter revelations of alleged attempts by British celebrities to cover up sexual indiscretions show that "super injunctions" to gag the press are unsustainable, lawyers said Monday. | Full Article Apple, Google to face lawmakers in privacy tussle May 09, 2011 10:04 AM ET WASHINGTON (Reuters) - Tech companies such as Apple and Google are hoping the tracks of millions of mobile device users will lead to billions of dollars in revenue. | Full Article BUSINESS NEWS Commodity rally gives respite, masks deeper worries May 09, 2011 04:49 PM ET NEW YORK (Reuters) - Stocks rose on Monday as commodity-related shares rebounded from last week's collapse, masking deeper doubts about what will sustain the market's long-term strength. | Full Article Citigroup shares face struggle post-reverse split May 09, 2011 04:35 PM ET NEW YORK (Reuters) - Citigroup discovered on Monday that reverse splits can be a somewhat painful exercise. | Full Article LinkedIn IPO price values company at over $3 billion May 09, 2011 01:45 PM ET NEW YORK/BANGALORE (Reuters) - LinkedIn Corp, the social site for business professionals, is hoping to cash in with investors eager to gobble up shares in sites such as Facebook, with a public debut valuing the company at more than $3 billion. | Full Article Ratings agencies hammer Greece in EU chaos May 09, 2011 02:03 PM ET ATHENS/BRUSSELS (Reuters) - Credit ratings agencies hammered Greece on Monday after senior euro zone policymakers acknowledged that Athens will need a second bailout package soon to avert a disorderly overhaul of its debt obligations. | Full Article Bair to step down as FDIC chairman in July May 09, 2011 04:03 PM ET WASHINGTON (Reuters) - Sheila Bair, one of the most visible regulators who navigated the recent financial crisis, will leave the Federal Deposit Insurance Corp on July 8, the agency announced on Monday. | Full Article U.S. TOP NEWS Pakistan PM rejects accusations over bin Laden Japan to shut nuclear plant on quake fears Biden, Clinton bluntly press China on rights Attorney General vows to close Guantanamo Hamas's Meshaal: U.S. had no right to kill bin Laden RELATED VIDEO Dead flies and mice could power future robots Apple tops brand study over Google New video game takes aim at Bin Laden A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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