Palo Alto,
Calif. - News Corp. (NYSE:NWS) is firing
MySpace CEO and co-founder Chris DeWolfe, with the core MySpace executive team
to depart the company as well, TechCrunch reported on Wednesday, citing
anonymous sources. The report states that "a new CEO has already been
recruited and is in the final stages of contract negotiations." Read the rest of this entry »
Facebook, MySpace, LinkedIn, Yahoo and now Google. What does these have in common? If you’re reading this blog, you probably have a profile on all of them. And those are just the obvious ones, you probably have a bunch of other profiles on a series of other networks too. The situation has become untenable.
Last week I sat down with Digg founder Kevin Rose to get the Digg “State of the Union.” The company, now more than four years old, has continued to grow incredibly since launching in late 2004 and regularly innovates with new products. They are rumored to be approaching profitability after making headcount cuts earlier this year. But much of the hype around Digg is now in the past. From 2006 onwards there were regular rumors of Digg being acquired. So many, in fact, that we called on CEO Jay Adelson to “Just sell Digg already” in late 2007.
Kadoink, a text messaging marketing startup based in San Francisco, has been seized by creditor Hercules Technology Growth Capital after failing to maintain the financial requirements of a $2.5 million line of credit. CEO Scott Cahill says that there is still a “substantial amount of cash remaining” that is being returned to Hercules, and that they are looking for a strategic buyer to keep the service alive.
