By one rarely cited measure, Google is now worth more than Apple. Apple still has a market cap of $378 billion compared to Google’s $286 billion, The Wall Street Journal’s Money Beat blog reports. Yet, “Strip out Apple’s $145 billion of net cash as of March, and Google’s $45 billion … This leaves an enterprise value of $233 billion for Apple, but $241 billion for Google, reflecting the underlying value of the companies’ actual operations.”
Mobile app development platform Kony announced raising $18.3 million in a Series D round of funding led by Telstra Ventures. The Orlando, Fla.-based company said it will use the financing to further expand into the Asia Pacific market and accelerate growth in the U.S. through increased investment in product development, marketing and sales, and operations.
Free and cheap messaging apps from WhatsApp to Skype have exploded globally, but how do they make money? Voxer, maker of a free walkie-talkie app, has taken the novel approach of creating a paid version, according to AllThingsD. Voxer Pro, a $2.99 upgrade, will provide “extreme notifications” that escalate if someone doesn’t pick up, and a $4.95 option for companies that includes and admin panel.
Microsoft will offer its console and PC games on the iPhone and Android devices later this years, reports CNet. The company is working on a licensing deal with Japanese game maker Klab to bring its games to other smartphone platforms besides Windows Phone. Microsoft confirmed only that its “Age of Empires” franchise would be launched on iOS and Android.
Aiming to stem losses in its Nook business, Barnes & Noble said Tuesday it will turn to a yet-to-be-named third party to manufacture a co-branded version of the company’s tablets, while continuing to develop e-reading devices in-house, paidContent reports. For its fiscal fourth quarter, the bookseller reported a loss of net loss of $118.6 million, or $2.11 per share, on revenue of $1.3 billion, down 7.4% from a year ago.
David Berkowitz is leaving 360i to join Publicis Groupe's MRY as chief marketing officer. “The move comes on the heels of Publicis's decision to merge MRY with LBi's North American operations earlier this year,” Ad Age points out. With the Dentsu-owned agency for seven years, Berkowitz most recently VP of emerging media at 360i.
Prior to its official launch, The Next Web got a chance to test out AOL’s Reader service. “Pitching with the slogan ‘all your favorite websites, in one place,’ AOL’s Reader came as a surprise to us at first, but when you consider AOL’s history, much of it involved surfacing, creating and managing content,” TNW writes. That said, “The design of AOL Reader won’t sweep you off your feet.”
With the eventual sale of Hulu, The New York Times suggesting that the Web will become a little less (or more) democratic. “Depending on the buyer, Hulu could be used to foster the further growth of online streaming as an alternative to the cable TV bundle,” NYT writes. “Or the site could be kept under lock and key, exclusively for the use of cable subscribers.” Potential buyers include Time Warner Cable, DirecTV, the Chernin Group, two private equity firms, and perhaps Yahoo.
Long rumored, Microsoft will reportedly unveil broad restructuring plans by July 1. “That prospect has many top managers at the company worried, since [CEO Steve] Ballmer has been making these significant plans with limited consultation with the wider leadership group at the software giant,” AllThingsD reports.
Facebook has reportedly been developing a service that displays content from users and publishers in a new mobile-friendly visual format. “The project … is designed to showcase news content in particular,” The Wall Street Journal reports, citing sources. Reader, as the service is being calls, looks a lot like Flipboard, WSJ notes.