Oracle hits all-time high after blowout earnings report

Oracle has been pushing hard in public cloud, aiming to compete with market leader Amazon Web Services (AWS). However, the second-generation cloud infrastructure that Oracle announced in September is “currently a bare-bones ‘minimum viable product,'” IT research group Gartner said in a major industry report last week. In the fourth quarter, Oracle produced $208 million in cloud infrastructure as a service (IaaS) revenue, up 23 percent from the prior year. (Last quarter, CEO Safra Catz predicted


Oracle has been pushing hard in public cloud, aiming to compete with market leader Amazon Web Services (AWS). However, the second-generation cloud infrastructure that Oracle announced in September is “currently a bare-bones ‘minimum viable product,'” IT research group Gartner said in a major industry report last week. In the fourth quarter, Oracle produced $208 million in cloud infrastructure as a service (IaaS) revenue, up 23 percent from the prior year. (Last quarter, CEO Safra Catz predicted
Oracle hits all-time high after blowout earnings report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: angelica lavito, adam jeffery, kiyoshi ota, bloomberg, getty images
Keywords: news, games, cnbc, companies, earnings, oracle, growth, guidance, hits, iaas, alltime, high, blowout, quarter, report, infrastructure, share, revenue, cloud


Oracle hits all-time high after blowout earnings report

Revenue for the quarter rose 3 percent. Subscription software reached more than $1 billion for the first time.

Oracle has been pushing hard in public cloud, aiming to compete with market leader Amazon Web Services (AWS). In May, Oracle said AT&T would move thousands of databases to its cloud.

However, the second-generation cloud infrastructure that Oracle announced in September is “currently a bare-bones ‘minimum viable product,'” IT research group Gartner said in a major industry report last week. This marked the first year Oracle was included in the report.

In the fourth quarter, Oracle produced $208 million in cloud infrastructure as a service (IaaS) revenue, up 23 percent from the prior year. (Last quarter, CEO Safra Catz predicted IaaS revenue would increase by 25 percent to 29 percent.)

Revenue at AWS jumped 42 percent to $3.7 billion in revenue in the first quarter.

With respect to guidance, Oracle is predicting that it will deliver 59 to 61 cents in non-GAAP earnings per share and 4 percent to 6 percent revenue growth in the first quarter of its 2018 fiscal year. Analysts expected an average of 59 cents in earnings per share and 3.9 percent revenue growth for guidance, according to Thomson Reuters.

CNBC’s Jordan Novet contributed to this story.

This is a breaking news story. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: angelica lavito, adam jeffery, kiyoshi ota, bloomberg, getty images
Keywords: news, games, cnbc, companies, earnings, oracle, growth, guidance, hits, iaas, alltime, high, blowout, quarter, report, infrastructure, share, revenue, cloud


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Ousted founders: Uber’s Travis Kalanick, Steve Jobs and Jack Dorsey

“I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me.” Jobs didn’t know what to do for a few months. “I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. It freed me to enter one of the most creative periods of my life,” Jobs said. “I’m pretty sure none of this would have happened if I hadn’t been fired from Apple.


“I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me.” Jobs didn’t know what to do for a few months. “I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. It freed me to enter one of the most creative periods of my life,” Jobs said. “I’m pretty sure none of this would have happened if I hadn’t been fired from Apple.
Ousted founders: Uber’s Travis Kalanick, Steve Jobs and Jack Dorsey Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: catherine clifford, getty images, justin sullivan, david orrell, henry dombey, vox media, source, robert galbraith, -steve jobs, co-founder of apple
Keywords: news, games, cnbc, companies, life, happened, kalanick, ousted, thing, jobs, getting, travis, apple, founders, fired, ubers, didnt, steve, dorsey, turned, sure, jack


Ousted founders: Uber's Travis Kalanick, Steve Jobs and Jack Dorsey

“I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me.”

Jobs didn’t know what to do for a few months. “I felt that I had let the previous generation of entrepreneurs down — that I had dropped the baton as it was being passed to me. … I was a very public failure, and I even thought about running away from the valley.

“But something slowly began to dawn on me,” explained Jobs. “I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.”

Jobs went on to launch NeXT and Pixar. Apple bought NeXT and then Jobs returned to run Apple in 1997.

“I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life,” Jobs said.

“I’m pretty sure none of this would have happened if I hadn’t been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick.”


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: catherine clifford, getty images, justin sullivan, david orrell, henry dombey, vox media, source, robert galbraith, -steve jobs, co-founder of apple
Keywords: news, games, cnbc, companies, life, happened, kalanick, ousted, thing, jobs, getting, travis, apple, founders, fired, ubers, didnt, steve, dorsey, turned, sure, jack


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Bitcoin wallet start-up Blockchain raises $40 million from Google

Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday. The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year. Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out tr


Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday. The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year. Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out tr
Bitcoin wallet start-up Blockchain raises $40 million from Google Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: arjun kharpal, paulo duarte, bloomberg, getty images
Keywords: news, games, cnbc, companies, million, blockchain, raises, bitcoin, google, expand, yearblockchain, startup, 40, wallet, venture, used, investment, usersthe


Bitcoin wallet start-up Blockchain raises $40 million from Google

Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.

The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year.

Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.

The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday. In addition, the start-up is looking to open new offices in different countries to expand.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: arjun kharpal, paulo duarte, bloomberg, getty images
Keywords: news, games, cnbc, companies, million, blockchain, raises, bitcoin, google, expand, yearblockchain, startup, 40, wallet, venture, used, investment, usersthe


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Oracle CEO Mark Hurd: ‘We’re different than Amazon’

On CNBC’s Squawk Alley, CEO Mark Hurd distinguished the company from it’s competitors. Amazon offers infrastructure, and they started in infrastructure. “I would guess a quarter of the world’s infrastructure has a piece of Oracle IP running on top,” said Hurd. “For us it really is the bigger picture not just the competition in one segment,” said Hurd. “Historically in our industry, we used to extract data from an application, send it somewhere, let people do magic with it … and then send it ba


On CNBC’s Squawk Alley, CEO Mark Hurd distinguished the company from it’s competitors. Amazon offers infrastructure, and they started in infrastructure. “I would guess a quarter of the world’s infrastructure has a piece of Oracle IP running on top,” said Hurd. “For us it really is the bigger picture not just the competition in one segment,” said Hurd. “Historically in our industry, we used to extract data from an application, send it somewhere, let people do magic with it … and then send it ba
Oracle CEO Mark Hurd: ‘We’re different than Amazon’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: chantel mcgee, mark neuling
Keywords: news, games, cnbc, companies, different, oracle, company, send, applications, integrated, application, intelligence, mark, amazon, quarter, hurd, infrastructure, ceo, really


Oracle CEO Mark Hurd: 'We're different than Amazon'

Oracle shares opened at $51.62 Thursday — an all time high for the company — putting the stock on pace for it’s best day in 3 years, after better than expected fourth quarter earnings and revenue.

On CNBC’s Squawk Alley, CEO Mark Hurd distinguished the company from it’s competitors.

“We’re different than Amazon. Amazon offers infrastructure, and they started in infrastructure. We’re a differentiated intellectual property company. We make applications. We make platforms, databases, Java, business intelligence, analytics, machine-to-machine capability embedded in those applications,” he said.

“I would guess a quarter of the world’s infrastructure has a piece of Oracle IP running on top,” said Hurd.

“We have more application offerings than anybody else. We’re competing in more categories, franky the biggest categories…,” Hurd, told CNBC. “For us it really is the bigger picture not just the competition in one segment,” said Hurd.

The next direction for the company is investment in artificial intelligence. “We believe the application of AI, pattern matching, whatever word you want to use for the technology … is really getting it integrated and embedded into the applications,” said Hurd.

“Historically in our industry, we used to extract data from an application, send it somewhere, let people do magic with it … and then send it back.”

AI will not be a separate solution. It will be a feature integrated directly into applications, he said.

“And that’s what we’re delivering as we speak,” he said.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: chantel mcgee, mark neuling
Keywords: news, games, cnbc, companies, different, oracle, company, send, applications, integrated, application, intelligence, mark, amazon, quarter, hurd, infrastructure, ceo, really


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Instagram is looking to boost ties with Hollywood celebrities

Facebook is looking to bolster ties between its Instagram unit and Hollywood celebrities as part of a broader effort to keep pace with YouTube video content and crush rival Snap with new features. Facebook and Instagram did not respond to a request for comment. Facebook also been adding Snapchat-like features to Instagram, which now has 700 million users. Instagram began letting celebrities post 60-second videos on its site in March, 2016, before rolling out the feature more broadly. On Wednesda


Facebook is looking to bolster ties between its Instagram unit and Hollywood celebrities as part of a broader effort to keep pace with YouTube video content and crush rival Snap with new features. Facebook and Instagram did not respond to a request for comment. Facebook also been adding Snapchat-like features to Instagram, which now has 700 million users. Instagram began letting celebrities post 60-second videos on its site in March, 2016, before rolling out the feature more broadly. On Wednesda
Instagram is looking to boost ties with Hollywood celebrities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: john shinal, vivien killilea
Keywords: news, games, cnbc, companies, hollywood, youtube, facebook, boost, instagram, unit, site, video, celebrities, users, ties, post, feature, videos, looking


Instagram is looking to boost ties with Hollywood celebrities

Facebook is looking to bolster ties between its Instagram unit and Hollywood celebrities as part of a broader effort to keep pace with YouTube video content and crush rival Snap with new features.

Instagram is hiring a new executive in L.A. to help “outreach efforts with entertainment industry influencers,” based on a job listing for the position on the recruiting site LinkedIn.

Part of the person’s duties will be to “drive high impact and authentic use of Instagram for public figures,” according to the listing for a “Strategic Partner Development – Entertainment, Instagram,” which was posted online Monday.

A nearly identical job posting with the same title was put online six days ago under Facebook’s own brand.

It’s not clear whether the positions are the same or the company is hiring multiple individuals. Facebook and Instagram did not respond to a request for comment.

Facebook has been adding Hollywood-type jobs — like a film producer — as it looks to generate more of its own video content it can use to sell ads.

The company is reportedly readying a slate of shows, following in the footsteps of YouTube, a unit of larger rival Google, as well as Amazon.

All are looking to cash in on an explosion of spending on digital video advertising.

Facebook also been adding Snapchat-like features to Instagram, which now has 700 million users.

A Facebook executive told CNBC Tuesday that 250 million people on Instagram are using its Stories feature, or more than the total number of users on Snapchat, which pioneered letting users post short, disappearing videos.

Instagram began letting celebrities post 60-second videos on its site in March, 2016, before rolling out the feature more broadly.

On Wednesday, Instagram also said in a blog post that users can share a replay of their live videos via its Stories feature.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: john shinal, vivien killilea
Keywords: news, games, cnbc, companies, hollywood, youtube, facebook, boost, instagram, unit, site, video, celebrities, users, ties, post, feature, videos, looking


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Cable giant Altice USA pops more than 5% in $1.9 billion IPO

CEO Dexter Goei told CNBC on Thursday that the company is keeping an eye out for deals and acquisitions, as well as providing better products, prices and customer service. “We always said we had a lot of things we wanted to do over the next couple of years: Investment in the network, a lot of the improvements in the technology,” Goei told “Squawk on the Street.” Altice’s planned 10-gigabit per second connection far outpaces Google Fiber’s current 1-gigabit per second connection, as well as Veriz


CEO Dexter Goei told CNBC on Thursday that the company is keeping an eye out for deals and acquisitions, as well as providing better products, prices and customer service. “We always said we had a lot of things we wanted to do over the next couple of years: Investment in the network, a lot of the improvements in the technology,” Goei told “Squawk on the Street.” Altice’s planned 10-gigabit per second connection far outpaces Google Fiber’s current 1-gigabit per second connection, as well as Veriz
Cable giant Altice USA pops more than 5% in $1.9 billion IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: anita balakrishnan, richard drew
Keywords: news, games, cnbc, companies, company, verizon, google, wireless, fiber, usa, second, 19, usas, pops, ipo, billion, goei, cable, altice, internet, giant, told


Cable giant Altice USA pops more than 5% in $1.9 billion IPO

CEO Dexter Goei told CNBC on Thursday that the company is keeping an eye out for deals and acquisitions, as well as providing better products, prices and customer service.

“We always said we had a lot of things we wanted to do over the next couple of years: Investment in the network, a lot of the improvements in the technology,” Goei told “Squawk on the Street.” “If we have the opportunity over the next three, four years to buy other stuff, we would absolutely look at that.”

The cable company behind Optimum, Lightpath and Suddenlink announced an ambitious plan last year to take on Google Fiber and Verizon Fios, by bringing a network of high-speed fiber optic internet to 20 states over the next five years.

Altice’s planned 10-gigabit per second connection far outpaces Google Fiber’s current 1-gigabit per second connection, as well as Verizon Fios. Altice’s “future-proof” plan comes as Google has scaled back its own expansion plans for the ultra-fast internet cables.

It comes as faster mobile internet standards, 5G, are also coming soon. Although more consumers are considering moving their video consumption online and mobile, Goei said that buying a wireless provider isn’t an immediate focus. Altice USA is, however, “overinvesting” in content, Goei said.

“At the end of the day, if you’ve got spectrum, you still need fiber,” Goei said. “We look forward to working with the wireless providers and developing 5G with them.”

Altice USA’s parent company will hold 70.3 percent of Altice USA’s shares and 98.3 percent of the voting rights in the company.

Disclosure: CNBC’s parent company, Comcast, is a cable and internet service provider. Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: anita balakrishnan, richard drew
Keywords: news, games, cnbc, companies, company, verizon, google, wireless, fiber, usa, second, 19, usas, pops, ipo, billion, goei, cable, altice, internet, giant, told


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Op-Ed: Why Uber’s top job is the most desirable in tech right now

Uber needs a new CEO after its founder CEO, Travis Kalanick, was removed yesterday at the request of a number of Uber’s shareholders. However, I’d argue the opposite: Uber’s open CEO position is the most attractive CEO job available in tech. Nevertheless, there will be a long line of candidates — men and women — who will be fighting tooth and nail to get the Uber CEO job. Here’s why:There just aren’t that many good tech jobs open today. Uber is the top open CEO job in tech right now.


Uber needs a new CEO after its founder CEO, Travis Kalanick, was removed yesterday at the request of a number of Uber’s shareholders. However, I’d argue the opposite: Uber’s open CEO position is the most attractive CEO job available in tech. Nevertheless, there will be a long line of candidates — men and women — who will be fighting tooth and nail to get the Uber CEO job. Here’s why:There just aren’t that many good tech jobs open today. Uber is the top open CEO job in tech right now.
Op-Ed: Why Uber’s top job is the most desirable in tech right now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: eric jackson, mike coppola, getty images
Keywords: news, games, cnbc, companies, issues, company, open, ceo, uber, jobs, desirable, travis, working, job, oped, ubers, right, tech


Op-Ed: Why Uber’s top job is the most desirable in tech right now

Uber needs a new CEO after its founder CEO, Travis Kalanick, was removed yesterday at the request of a number of Uber’s shareholders.

They also need two new independent directors and a large number of open executive positions filled.

The near daily turmoil facing the company has made some wonder why anyone would want to take the top job.

However, I’d argue the opposite: Uber’s open CEO position is the most attractive CEO job available in tech.

Here’s a summary of why critics say you wouldn’t want the job:

Kalanick and another founder — Garrett Camp — still own control of the company. Yes, Kalanick has willingly agreed to step down from the CEO job now, in service of helping the company reach IPO (and therefore its investors reach liquidity) faster. But what if he later (or sooner) has a change of heart and does a Steve Jobs? The new CEO will look like a John Sculley-style placeholder in the annals of business history.

Even if Travis doesn’t push the new person out, what if he undermines him or her on the board at every step? What if Travis calls in favors from those still loyal to him working at the company?

Massive cultural problems still exist over the nonstop accusations of misogyny and sexism. It will take more than hiring a new head of HR or a rousing all-hands meeting to fix that.

Legal overhang. Alphabet’s Waymo still has a suit winding its way through federal court accusing Kalanick of knowing about improperly shared Google data.

Regulatory questions. It remains to be seen whether Uber, like Zenefits, will face regulatory issues arising from the raft of questions facing Uber over these past few months. Working through those issues took well over a year for Zenefits.

Competitive threats. While it’s not yet clear, you would have to expect that Lyft will enjoy a large benefit from all these internal distractions in the North American market over the past few months. But Uber was also facing an onslaught of competition overseas before Susan Fowler’s blog post exploded this current crisis four months ago. Those threats are all still there.

Business issues. Uber lost nearly $3 billion in 2016, according to results it released in April. And that’s not including some discontinued operating results. Some think its cash burn is much higher.

Longevity of the business model. Although its ride-sharing supremacy seemed once unassailable, this current crisis, its competitive threats and its longer-term ability to compete with the likes of Google, Apple, Tesla and others in the autonomous vehicle space brings into question its long-term viability as a business.

Valuation drop. Although Uber last raised money at a $70 billion valuation, there have been numerous reports that private shares in the company have traded hands since then at around the $50 billion level. Can a new CEO turn that around?

So a new CEO must face all these issues head-on. What a headache! Why take the job at all?

Nevertheless, there will be a long line of candidates — men and women — who will be fighting tooth and nail to get the Uber CEO job. If a company were perfect, the CEO job wouldn’t be available. I’d say Uber’s is the most attractive one open in tech today.

Here’s why:

There just aren’t that many good tech jobs open today. If you’re a candidate like Sheryl Sandberg or Adam Bain or Marissa Mayer biding your time waiting for a plum CEO opportunity to open up and make your move, would you rather be the CEO of Uber, Evernote or Jawbone today? Because those are the kinds of CEO jobs which are available (although the latter two are not officially).

Uber still has gold-plated investors behind it who will support getting this company from the current valuation to several multiples of that. It’s no guarantee, but do you want Benchmark, First Round, and Lowercase rowing with you in the same direction? It sure helps.

No other big and successful public tech company top jobs are free. Waiting to take over as CEO of Google, Facebook, Amazon, Netflix or Apple? Keep waiting.

None of the other big unicorn (i.e., private) tech companies are looking for a CEO. Palantir? SpaceX? AirBnB? Nope. Maybe some — like Pinterest or Dropbox, for example — might want to add a big name CEO prior to an IPO. I would argue that while the risks are great, the potential upside for an Uber is greater than any smaller unicorn which might want to consider hiring you as CEO.

For new outside CEOs: Heads you win, tails you win. Let’s face it: Any outsider who takes a top CEO job will have a phalanx of compensation negotiators on his or her side working out a massive comp package that ensures he or she will be paid handsomely whether or not a turnaround sticks, or whether or not Travis returns from the dead at a later date with demands to take back his throne.

Most employees, investors, customers, and media will be cheering for this new CEO. After such a run of self-inflicted disasters hitting Uber, the new CEO will get the benefit of the doubt and enjoy a long honeymoon period. And then, whether or not he or she is successful, there will be big-time compensation.

So don’t let the negative headlines fool you. Uber is the top open CEO job in tech right now. And there will be a fight among a short list of candidates to get that job.

To sign up for Eric’s monthly Tech & Media Email, go here. And to hear his podcasts on these topics, go here. You can follow Eric on Twitter @ericjackson.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: eric jackson, mike coppola, getty images
Keywords: news, games, cnbc, companies, issues, company, open, ceo, uber, jobs, desirable, travis, working, job, oped, ubers, right, tech


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The Amazon of China invested $400 million into one of the most valuable fashion startups

JD.com, Alibaba’s largest rival in the Chinese e-commerce market, has invested nearly $400 million into Farfetch, a fast-growing online marketplace for luxury fashion boutiques. Alongside the $397 million investment, JD.com founder and CEO Richard Liu is joining Farfetch’s board. For Western apparel and fashion brands, the rise of the Chinese luxury shopper has made China an increasingly crucial market. Both companies dominate the e-commerce landscape in China, where Amazon has long struggled. C


JD.com, Alibaba’s largest rival in the Chinese e-commerce market, has invested nearly $400 million into Farfetch, a fast-growing online marketplace for luxury fashion boutiques. Alongside the $397 million investment, JD.com founder and CEO Richard Liu is joining Farfetch’s board. For Western apparel and fashion brands, the rise of the Chinese luxury shopper has made China an increasingly crucial market. Both companies dominate the e-commerce landscape in China, where Amazon has long struggled. C
The Amazon of China invested $400 million into one of the most valuable fashion startups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: jason del rey, billy hc kwok, bloomberg, getty images
Keywords: news, games, cnbc, companies, million, china, startups, brands, invested, jdcom, fashion, western, market, parent, farfetch, valuable, amazon, farfetchs, ecommerce, 400, companies


The Amazon of China invested $400 million into one of the most valuable fashion startups

JD.com, Alibaba’s largest rival in the Chinese e-commerce market, has invested nearly $400 million into Farfetch, a fast-growing online marketplace for luxury fashion boutiques.

Alongside the $397 million investment, JD.com founder and CEO Richard Liu is joining Farfetch’s board. Exact terms of the deal could not be learned, but a source said Farfetch’s new valuation is a significant step up from its earlier $1.5 billion figure.

For Western apparel and fashion brands, the rise of the Chinese luxury shopper has made China an increasingly crucial market. London-based Farfetch already has operations in the country, but the deal is meant to expand them. JD.com will drive web traffic to the Farfetch site and offer logistics help to its brands and boutiques, among other services.

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The move comes as both JD.com, with a market cap of $57 billion, and Alibaba are making a big push to court Western fashion brands to their own sites. Some of Farfetch’s merchants already sell on JD.com and the two sides will continue to compete in many ways, the companies said.

JD’s model is similar to Amazon’s as it serves as both the country’s largest retailer that sells directly to consumers as well as a marketplace on which other merchants can hawk their wares. All of Alibaba’s websites, on the other hand, operate exclusively as marketplaces. Both companies dominate the e-commerce landscape in China, where Amazon has long struggled.

Walmart owns around 11 percent of JD.com.

JD.com also owns a small stake in Wish, the San Francisco e-commerce company that makes one of the world’s most popular shopping apps.

—By Jason Del Rey, Recode.net.

CNBC’s parent NBCUniversal is an investor in Recode’s parent Vox, and the companies have a content-sharing arrangement.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: jason del rey, billy hc kwok, bloomberg, getty images
Keywords: news, games, cnbc, companies, million, china, startups, brands, invested, jdcom, fashion, western, market, parent, farfetch, valuable, amazon, farfetchs, ecommerce, 400, companies


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Watch Cramer as a real-time A.I. cartoon, and talks on Adobe stock

Jim Cramer like you’ve never seen him before… 6 Hours Ago | 00:48Adobe Systems’ new Character Animator product, which uses artificial intelligence, will make the company’s stock soar, CNBC’s Jim Cramer said Thursday. Cramer spoke the morning after his interview with Adobe chief Shantanu Narayen on CNBC’s “Mad Money.” During the interview, Adobe transformed Cramer into a real-time animation using its program. “Adobe’s stock is going to go so much higher. Cramer’s the fourth person or character


Jim Cramer like you’ve never seen him before… 6 Hours Ago | 00:48Adobe Systems’ new Character Animator product, which uses artificial intelligence, will make the company’s stock soar, CNBC’s Jim Cramer said Thursday. Cramer spoke the morning after his interview with Adobe chief Shantanu Narayen on CNBC’s “Mad Money.” During the interview, Adobe transformed Cramer into a real-time animation using its program. “Adobe’s stock is going to go so much higher. Cramer’s the fourth person or character
Watch Cramer as a real-time A.I. cartoon, and talks on Adobe stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: berkeley lovelace jr
Keywords: news, games, cnbc, companies, adobes, using, adobe, spoke, animation, stock, narayen, cartoon, companys, realtime, talks, jim, watch, cramer, ai


Watch Cramer as a real-time A.I. cartoon, and talks on Adobe stock

Jim Cramer like you’ve never seen him before… 6 Hours Ago | 00:48

Adobe Systems’ new Character Animator product, which uses artificial intelligence, will make the company’s stock soar, CNBC’s Jim Cramer said Thursday.

Cramer spoke the morning after his interview with Adobe chief Shantanu Narayen on CNBC’s “Mad Money.” During the interview, Adobe transformed Cramer into a real-time animation using its program.

“This is what the world is going to come to,” Cramer said Thursday on “Squawk on the Street.” “Adobe’s stock is going to go so much higher. Shantanu Narayen is a genius, he’s understated.”

The program creates 2-D characters in Adobe’s software, according to the company’s website, and the animation will act out the person’s movements and voice using a webcam and microphone.

Cramer’s the fourth person or character to use Adobe’s Cartoon Animation tech after Homer Simpson, Hillary Clinton and Donald Trump.

AI has become a centerpiece of Adobe’s business as the design software company incorporates machine learning into products.

On “Mad Money,” Narayen also spoke on his company’s partnership with Microsoft and sentiments about President Donald Trump at Monday’s technology council meeting at the White House.

Read Adobe CEO: Microsoft partnership will automate sales, marketing with AI

—CNBC’s Elizabeth Gurdus contributed to this report.

**Disclosure: Jim Cramer’s charitable trust owns shares of Adobe.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: berkeley lovelace jr
Keywords: news, games, cnbc, companies, adobes, using, adobe, spoke, animation, stock, narayen, cartoon, companys, realtime, talks, jim, watch, cramer, ai


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Fixing a toxic culture like Uber’s requires more than just a new CEO

In times of organizational crisis, some companies are able to right the ship, while others sink under the pressure. Recently, Uber has been under fire for a bad corporate culture, which promoted, among other things, sexism and other forms of toxic behavior. This led to a four-month investigation and pressure from the board for founder and CEO Travis Kalanick to take an indefinite leave of absence. He suddenly resigned as CEO on June 20 after several major investors demanded he step down. Unfortu


In times of organizational crisis, some companies are able to right the ship, while others sink under the pressure. Recently, Uber has been under fire for a bad corporate culture, which promoted, among other things, sexism and other forms of toxic behavior. This led to a four-month investigation and pressure from the board for founder and CEO Travis Kalanick to take an indefinite leave of absence. He suddenly resigned as CEO on June 20 after several major investors demanded he step down. Unfortu
Fixing a toxic culture like Uber’s requires more than just a new CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: katina sawyer, christian thoroughgood, anthony wallace, getty images, krisztian bocsi, bloomberg, drew angerer
Keywords: news, games, cnbc, companies, requires, fixing, led, uber, founder, fox, culture, step, leaders, cultures, ubers, ceo, toxic, companies


Fixing a toxic culture like Uber’s requires more than just a new CEO

In times of organizational crisis, some companies are able to right the ship, while others sink under the pressure.

Recently, Uber has been under fire for a bad corporate culture, which promoted, among other things, sexism and other forms of toxic behavior. This led to a four-month investigation and pressure from the board for founder and CEO Travis Kalanick to take an indefinite leave of absence. He suddenly resigned as CEO on June 20 after several major investors demanded he step down.

Unfortunately, Uber is not the only company to come under public scrutiny in recent months for its toxic culture. Fox News and Sterling Jewelers have also been accused of widespread sexual harassment. And other companies, such as Volkswagen, Wells Fargo and Chik-Fil-A, have been in the media spotlight for unethical behavior.

More from The Conversation:

How Uber crashed in China

Why leadership looks weak and wobbly at Uber, Snap and Twitter

Scandals at Uber and Fox show dangers of letting macho cultures run wild

Many have focused on the role of leaders in allowing toxic cultures to fester, which is what led to the ousting of Fox founder Roger Ailes and Kalanick’s departure. While this is certainly a necessary step, it’s not enough.

Our research shows that companies need also to root out a bad leader’s followers among the rank and file and make other important internal changes. Otherwise, a moral meltdown like Uber’s is likely to happen again.


Company: cnbc, Activity: cnbc, Date: 2017-06-22  Authors: katina sawyer, christian thoroughgood, anthony wallace, getty images, krisztian bocsi, bloomberg, drew angerer
Keywords: news, games, cnbc, companies, requires, fixing, led, uber, founder, fox, culture, step, leaders, cultures, ubers, ceo, toxic, companies


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