Everyone knows there are plenty of Europeans already in Silicon Valley, but Web 2.0 Expo San Francicisco provides a reasonable opportunity for those of us on the other side of the pond to invade en masse. Which is why TechCrunch Europe is organising a couple of meetups as part of our particular invasion. How about that - a TechCrunch invasion from a different continent.
Mountain View,
Calif. - Needing to thin out its
sales and marketing organization in the wake of the recession, Google (NASD:GOOG) said that
it has cut nearly 200 jobs globally. "We did look at a number of different
options but ultimately concluded that we had to restructure our organizations
in order to improve our effectiveness and efficiency as a business," wrote
Omid Kordestani, the company’s senior vice president of global sales and
business development, in a blog post. Read the rest of this entry »
Online streaming music startups are in one very sorry place. On demand streaming rates range from .4 cents to 1 cent per stream - this is what the startups pay to the labels every time they play a song for a user. Add bandwidth and storage costs on top of that, which aren’t trivial for services that want to stream music quickly on demand. The result is hundreds of millions of dollars flowing from venture funds to startups to labels. Little of it makes its way to artists, and advertising revenues only cover a tiny portion of the fees.
Palo Alto,
Calif. - Facebook is looking to
secure up to $100 million in new debt financing, to open credit lines to lease
additional servers to support its growing online social network, BusinessWeek
reported. "Facebook always
seeks to keep its costs of capital as low as possible, particularly in these
uncertain economic times," the company told BusinessWeek. "Along with
other Silicon Valley companies, we rely on a
range of tools to do so, including equipment lease lines to acquire
equipment." Read the rest of this entry »
Washington - The European
Commission has found that current U.S.
law is in violation of World Trade Organization rules, after an investigation
into the effects that U.S.
law had on European online gambling services when Congress banned online
gambling in 2006. The report concludes that, while WTO proceedings against the U.S. would be justified, the EU should first
take the issue up with the U.S.
government, "with a view to finding a negotiated solution." Read the rest of this entry »