Posted by Sheila Shayon on September 30, 2014 11:01 AM
Call it a "Conscious Uncoupling." Or more accurately, an "Icahn-scious Uncoupling." After months of lobbying by activist investor Carl Icahn, PayPal is splitting from parent eBay and will become a separate, publicly traded company next year.
In its announcement today, eBay said the board made the decision as the best path for growth and shareholder value creation for each business going forward—and already, eBay shares jumped more than 11 percent in pre-market trading.
In tandem with the news, Dan Schulman was named the new president of PayPal, joining the company from president of the enterprise growth group at American Express and previous roles at AT&T, Priceline and Virgin Mobile. eBay veteran Devin Wenig becomes CEO of the new eBay, replacing current president and CEO John Donahoe.
While the companies already operate fairly independently, the move will free each entity to grow and thrive—assuming all goes to plan—even though eBay stands to lose half its revenue as a result of the separation.Continue reading...
Posted by Dale Buss on September 30, 2014 09:23 AM
EBay will spin off PayPal in 2015, and names new president in Dan Schulman.
Ford cuts forecast as Russian woes mount and Europe remains a drag but sets high 2020 sales goal, and brings new aluminum F-150 to dealers and consumers for test drives.
Pfizer targets Viagra advertising at women for the first time.
Supervalu and Albertsons disclose US customer-data breach.
Microsoft will unveil next version of Windows today, and readies NYC flagship store.Continue reading...
Posted by Dale Buss on September 24, 2014 09:21 AM
Coca-Cola, PepsiCo and other soda makers vow to cut calorie consumption by 20 percent in ten years.
Home Depot sees fraudulent transactions surface in wake of data breach.
Walmart begins offering low-cost checking in bid to take on banks.
Clorox, subject of takeover chatter, doesn't plan to mimic P&G, as Colgate-Palmolive sparks takeover speculation and Pfizer held takeover talks seeking tax inversion.
Apple pitches "privacy" of new iPhones as users report bending issue and iOS 8 app crashing, as company acquires Prss digital magazine startup.
MORE BRAND NEWS
Air France quits low-cost Transavia unit.
Amazon tops customer-experience study and launches #AmazonWishList on Twitter while keeping unions at bay in Germany.
Beer?! joins the one-word app brigade.
Benjamin Moore partners with the CFDA to promote fashion designers.Continue reading...
by the numbers
Posted by Abe Sauer on September 17, 2014 05:53 PM
Most media coverage of the hotly anticipated Alibaba Group IPO (NYSE ticker: BABA) has focused on the company's eponymous story, riffing on how its stock valuation speaks to thievery and treasure. But the story of Ali Baba was, at its heart, one of double-crosses and massive bloodshed—after all, all 40 thieves are killed and Ali Baba's brother is quartered and stitched back together to cover up the ruse. Find meaning in that.
As a former longtime China expat, I know firsthand that Alibaba.com and Taobao (tmall.com) are both extremely useful. They are the perfect match, with the former helping funnel money to manufacturing workers nationwide and the latter helping them spend it. But a valuation of nearly $22 billion on its first day? What the heck does Alibaba do anyway? And more important, is it replaceable?Continue reading...
Posted by Sheila Shayon on September 17, 2014 04:12 PM
With the first reviews of Apple's new iPhone 6 and 6 Plus making their rounds, the discussions around what many have deemed the most lack-luster announcement—Apple Pay—are only getting louder.
While PayPal, Amazon and Google are all making hay of Apple's payment platform, other mobile wallet brands aren't sitting on their hands. Softcard, formerly known as Isis and backed by Verizon, T-Mobile and AT&T in the US, just struck a major deal with Subway restaurants to launch NFC payments across the US. Consumers at any of Subway's 26,000 US locations can now tap their phone to pay for their order.
That won't be the case for consumers using Apple Pay, though, as Apple is restricting its NFC-enabled chip to only be compatible with the iPhone 6 iterations and Apple Watch. The company has also closed off access to its NFC technology to app developers, unlike Samsung's range of NFC-enabled devices that can make use of several NFC apps.
But while Apple Pay may be a bit restrictive, the upcoming platform is making competitors nervous about a potential Apple domination of the mobile wallet space.Continue reading...
Posted by Dale Buss on September 12, 2014 09:36 AM
NFL faces advertiser questions as pressures mount over Ray Rice scandal and CBS pulls performance by domestic-violence victim Rihanna from beginning of Thursday Night Football telecast as Verizon backs Goodell and pledges to help league build domestic violence awareness program.
Darden Restaurant Group sees activist fund trying to take over Olive Garden's kitchen.
Alibaba may lift price for IPO.
GM issues "stop delivery" order to fix 2015 Chevrolet Corvettes.
Apple miffs iTunes users with U2 giveaway as iPhone pre-orders crash Apple's site.
MORE BRAND NEWS
Burger King is urged by senators to ditch move to Canada in Tim Hortons acquisition.
Dove celebrates 50th anniversary in Canada by refreshing real beauty campaign (above).
eBay changes mind and creates in-app mobile ads.
Esquire promotes male mentorship.
Fiat Chrysler sticks to optimistic view as its Ferrari brand plans to boost output and Jeep nears launch of Italian-made subcompact Renegade.
General Mills creates Chief Creative Officer role as cereal sales keep declining.Continue reading...
Posted by Sheila Shayon on August 29, 2014 01:06 PM
Three Chinese billionaires are partnering to take on Alibaba as it prepares for what may be the largest IPO ever.
Wanda Group, China’s largest commercial land developer, Tencent Holdings and Baidu, will create a 5 billion yuan ($813 million) joint venture e-commerce company, "Wanda E-Commerce Company" that Wanda will control 70 percent of. The venture marries Tencent’s WeChat social messaging network, Baidu’s search engine prowess and Wanda’s 40 hotels, 49 commercial holdings and 40 department stores in a Chinese market that is already home to the world's biggest e-commerce operations, which are projected to hit $395 billion by 2015
“It’s a very interesting battle to watch—three top rich people join hands to challenge another bigger billionaire,” Cao Lei, director of the China E-Commerce Research Center, told Bloomberg. “The new venture will not be an immediate challenge to Alibaba. Rome can’t be built in a day.”
Indeed, Alibaba is a lot to reckon with. In the last quarter, the company's income rose to $1.1 billion, 42 percent higher than Amazon and eBay combined for the same period. Jack Ma, Alibaba’s founder, is China’s richest person with $21.8 billion, according to the Bloomberg Billionaires Index.Continue reading...
Posted by Mark J. Miller on August 21, 2014 04:47 PM
In an instant-gratification world filled with consumers who, like Veruca Salt before them, want everything right this very second, major brands have engaged in a battle to be the fastest and most-efficient at bringing them whatever they desire.
But while Amazon, Google and Walmart have been duking it out for a while, smaller, and perhaps more nimble brands are set to disrupt the same-day delivery fray. The latest master of delivery (of both people and things) is Uber, which is currently testing a delivery service in Washington D.C.
The car-service app is testing a new service called Corner Store that "lets users request more than 100 common items like allergy medicine, diapers, toothpaste right through the app,” according to PC Magazine. In addition, to boost business, it has now allowed other apps, such as Starbucks, Hyatt, and United Airlines to add in an Uber button to their apps.Continue reading...