Mashable bought by publisher Ziff Davis

NEW YORK - Struggling online news site Mashable is set to be bought by Ziff Davis, a subsidiary of tech company j2 Global, a spokesman said Tuesday.

The once-vaunted outlet, which was valued at $250 million less than 2 years ago, will be sold for less than $50 million according to Recode, which first reported the acquisition.

Mashable has been in trouble for several months after failing to live up to huge growth rates it had promised investors.

Much of the decline is attributable to Google and Facebook's growing chokehold on the online advertising market.

The existence of talks between the 2 parties was reported by the Wall Street Journal last month.

Recode reported that Ziff Davis plans to ax around 50 positions and refocus Mashable on technology, which was its niche before it branched out to other areas including politics and pop culture.

Ziff Davis is known for managing several highly specialized sites including AskMen, PCMag and IGN in its 4 core areas of technology, gaming, healthcare, and shopping.

Mashable's founder Pete Cashmore, who started the site as a blog in 2005 when he was 19, will remain at the company.

source: news.abs-cbn.com

Microsoft shares Apple stage in tech world twist

SAN FRANCISCO -- Loyal Apple fans likely shuddered on Wednesday as longtime nemesis Microsoft was welcomed at a high-profile media event to show off software tailored for a new iPad.

The US software titan had been mocked at previous Apple events as not just an entrenched adversary but as a copycat waiting to duplicate the company's innovations.

Yet Apple chief executive Tim Cook offered the surprise introduction by saying, "Who knows more about productivity than Microsoft?"

Building on the surprise, an Adobe demonstration came in the wake of a presentation by Microsoft executive Kirk Koenigsbauer at the San Francisco event which featured a new iPad Pro and other devices.

"Now Adobe, it's like a parade of conquered rivals paying homage," well-known technology journalist Walt Mossberg of Re/code wrote as he covered the event.

Technology news website Mashable marked the moment with the headline "Hell freezes over: Microsoft makes surprise appearance at Apple event."

The Mashable writer went on to put the Microsoft appearance on par with a Steve Job's nightmare.

Late Apple co-founder Jobs unabashedly fired barbs at Microsoft, which was portrayed as an evil empire overlord while the iconic California was a rebel force.

Microsoft and Apple fans have clashed in San Francisco coffee houses with the kind of intensity though more common for lovers of rival sports teams.

Microsoft's unprecedented appearance on an Apple event stage left those fans to now argue whether it was a sign of Microsoft's defeat in the long-running war or whether Apple needed them as an ally to push iPads deeper into the business world.

"We are focused on reinventing productivity," Koenigsbauer said. "Today, more than ever we are supporting productivity on Apple devices."

He showed off Office work software tailored for a new, larger-screen iPad Pro.

Adobe, whose Flash program was banned from iOS by Jobs in 2010, meanwhile showed off a new application designed for the iPad Pro, dubbed Photoshop Fix.

source: www.abs-cbnnews.com

Myspace sold for just $35M to ad network

Myspace, the once-dominant social network that has since been overshadowed by Facebook, has been sold to an advertising network for P35 million —a far cry from the $580M it was valued at in 2005.

Buyer Specific Media said News Corp., the Internet property's former owner, will have a minority equity stake in Specific Media.

"Today, we are announcing that Myspace will be acquired by Specific Media, one of the world’s leading online media and advertising platforms. Over the next few days you will be hearing from the team at Specific, including their CEO, Tim Vanderhook, regarding their exciting plans for Myspace and how it fits in with the overall vision of their company," outgoing Myspace CEO Mike Jones said in a June 29 memo to employees.

In his memo —the text of which was posted on All Things Digital— Jones said they will conduct a series of "restructuring initiatives," including a "significant reduction in our workforce."

He thanked the employees for their work, adding his time at Myspace represents "the most engaging and chalenging time of my professional career."

"While I regret we won’t be working together at Myspace any longer, I am very proud of the work we have done here and believe we have performed with excellence — even under extremely difficult circumstances," he said.

For his part, Vanderhook said Myspace is a "recognized leader that has pioneered the social media space."

Specific Media, founded in 1999 by brothers Tim, Chris and Russell Vanderhook, is currently headquartered in Irvine, California.

“There are many synergies between our companies as we are both focused on enhancing digital media experiences by fueling connections with relevance and interest. We look forward to combining our platforms to drive the next generation of digital innovation," Vanderhook said.

Specific Media is an innovative global interactive media company that enables advertisers to connect with consumers in meaningful, impactful and relevant ways. Founded in 1999 by brothers Tim, Chris and Russell Vanderhook, Specific Media is currently headquartered in Irvine, CA and operates offices around the world.

Tech site Mashable cited sources who said nearly 50 percent of the site's staff may be cut after the sale.

Mashable added it is likely that Myspace may focus on music.

All Things Digital noted Myspace had been bought for as high as $580 million in 2005.

An entry in the New York Times noted the buying price is well below the $100 million that News Corp. had been hoping for.

The New York Times also said Specific Media had brought on board artist Justin Timberlake as a part owner and an active player in MySpace’s future. — TJD, GMA News


Source: gmanews.tv