News Corporation has sold its social networking website Myspace for a disappointing $35 million. Advertising company Specific Media, together with pop singer Justin Timberlake, are the buyers. The sum they paid is extremely low compared to the price Rupert Murdoch's News Corp paid six years ago to purchase Myspace, but the website has been operating at a loss. News Corporation paid $580 million for Myspace in 2005, when it was one of the... [read news]
Online payment service PayPal and its owner eBay filed a suit against Google on Thursday, accusing the Internet company of having obtained trade secrets from two former PayPal executives and used them to build their new Google Wallet service, which was announced earlier that day.PayPal also started legal action against Osama Bedier and Stephanie Tilenius, two Google executives who had previously worked for the eBay subsidiary. The online payment... [read news]
PayPal is the most trusted service for mobile payments, according to a recent consumer survey.Consumers from nine countries have chosen PayPal as the brand they would most trust to handle their financial data.The survey was conducted by market research company GfK. A total of 8,603 people participated. The research took place in nine countries that are considered important markets for mobile payment systems.The countries in question are the... [read news]
Chad Hurley and Steve Chen, the founders of popular video-sharing website YouTube, have acquired the Delicious social bookmarking service. Yahoo announced on Wednesday that they had sold the once popular social bookmarking website to the former YouTube owners, as it didn't fit anymore with the company's new strategy. Delicious is a site that allows users to bookmark and tag their favourite links, as well as share them with other users and... [read news]
Last week, digital music service Spotify announced changes to the way their users get to stream free music. The European-based service is about to set limits to free music streaming on their website. The changes, presented in detail on the Spotify blog, will come into effect on May 1st. The main difference from the current service is that users with a free account will only be able to listen to 10 hours of music every month, which is only... [read news]
