Despite posting record quarterly profits on Thursday, Amazon saw its stock get hammered in after-hours trading. “The online retailer’s shares plunged as much as 15% … erasing more than $30 billion in market value despite a profit that more than doubled to $482 million in the holiday period,” The Wall Street Journal reports. “The failure to meet outsize expectations underscores the pressure Amazon now faces.”
Yahoo reportedly plans to reconsider a sale of its core assets after releasing quarterly earnings on February 2. “Yahoo wants to gauge shareholder reaction after presenting its strategic vision during the earnings conference call,” Reuters reports, citing a source. “Yahoo this month rebuffed several potential buyers for its core Internet assets, including private equity firms.”
Alphabet, Apple, and other tech giants are sponsoring the Super Bowl Host Committee -- or what The Wall Street Journal calls “the liaison between the National Football League and the local community.” Meanwhile, “The host committee also finances the Super Bowl, and has raised all its money -- about $50 million.”
AOL is considering a massive image makeover, chief marketing officer Allie Kline tells Business Insider. “The issue … is that there's a disconnect between the parent company and all the brands that are part of it,” BI writes. “For Kline, one of AOL’s biggest priorities for the new year is figuring out its brand and investing in it, even if that means saying goodbye to the name ‘AOL.’”
Looker just raised $48 million in a Series C funding round led by Kleiner Perkins Caufield & Byers, along with Redpoint Ventures, Meritech and Sapphire Ventures. “Looker claims to be the only analytics tool that enables a data analyst to curate and centralize massive amounts of data -- creating a crucial single source of truth,” eWeek reports.
Amazon reportedly plans to assume full ownership of French package-delivery company Colis Privé. “The acquisition will be the biggest step yet that the online retail giant has taken to move into the business of delivering packages for others, as well as itself,” The Seattle Times reports. As such, “Amazon.com will begin competing directly with longtime partners United Parcel Service, FedEx and DHL.”
Hudson’s Bay, the owner of Saks Fifth Avenue, has agreed to buy Gilt Groupe for $250 million in cash. “Financially, the deal marks a disappointing outcome for Gilt, which has raised some $280 million in venture capital and at one time was valued by investors at more than $1 billion,” Re/code writes.