Monthly Archives: January 2011

LinkedIn into IPO

The flotation, expected to value founder Reid Hoffman’s $21.4% stake at up to $642m, is thought likely to happen within the next few months and will involve the sale of at least $175m of new shares as well as the disposal of some existing stock by LinkedIn’s current investor

LinkedIn is growing at breakneck speed, almost doubling its membership to more than 90 million users last year in 200 countries. Speaking about the relative merits of LinkedIn and Facebook at an Internet conference in San Francisco in November, chief executive Jeff Weiner said the secret to LinkedIn’s long-term success would be that people like to keep their professional and private lives separate. “While many of us in college probably were at parties having a good time, I don’t know that many of us would look forward to having a prospective employer have access to pictures of those events,” Weiner said.

LinkedIn inched into profit in the first nine months of 2010, recording a $10m surplus, as revenues more than doubled to $161.4m. It offers a free service allowing members to create personal profiles emphasising their business qualifications, but makes its money through a premium subscription service, costing up to £63 a month, which gives members a greater level of contact with potential business contacts and employers and offers up its database to help users locate the people they need.


Egypt cuts off internet access

Egypt appears to have cut off almost all access to the internet from inside and outside the country from late on Thursday night, in a move that has concerned observers of the protests that have been building in strength through the week. “According to our analysis, 88% of the ‘Egyptian internet’ has fallen off the internet,” said Andree Toonk at BGPmon, a monitoring site that checks connectivity of countries and networks.

The cutoff appears to have happened around 10.30pm GMT on Thursday night. Only one internet service provider appears to still have a working connection to the outside world: the Noor Group, for which all 83 routes are working, and inbound traffic from its connection provider, Telecom Italia.

Help this poor child, sorry content is in malayalam

Mattel make Fortune magazine’s 100 Best Companies to Work For

Mattel Inc., the El Segundo-based toy giant, was ranked 69th on Fortune magazine’s list of 100 Best Companies to Work For.

This was the annual list’s 14th year.

It was also the fourth time Mattel has made the list. The company moved up nine spots from No. 78 last year.

The list is based in part on survey answers from randomly selected company employees. Questions include attitudes about management’s credibility, job satisfaction and camaraderie.

The employee survey is two-thirds of the score given to each company. The other third is based on pay and benefit programs, hiring practices, internal communications, training, recognition programs and diversity efforts.


Reliance Retail to open 20 Hamleys toy stores in India

Reliance Retail plans to open 20 toy stores of the UK-based Hamleys in India over the next seven years at an investment of Rs 120 crore.

With strong growth for the toy market in India, Reliance retail today inaugurated the second Hamleys toy store at Express Avenue.

UK-based toy store Hamleys holds an exclusive tie-up with Reliance Retail for merchandising its famous toys for children.

“Our first store in Mumbai which is spread across 21,000 square foot has got a very good response. It was a pilot store. Now this is a large store.With this we have plan to open 18 stores in India over the next seven years”, Reliance Retail President and Chief Executive Officer Bijou Kurien told reporters.

The Indian toy market was valued to be at Rs 1,500 crore and growing at a rate of 10-15 per cent every year.

As part of expanding its footprint, he said, “We will open 18 more stores under the ‘Pilot Store-Large store’ strategy.

The investments required would be around Rs 120 crore for opening these 18 stores which would be spread across 11,000 square foot and 21,000 square foot, he said.

Hamleys Global CEO Gudjon Reynisson said they always hold a “local partnership” for merchandising their toys in any country.

“Currently our toys are available in the United Kingdom, Ireland, Denmark.. Wherever we operate we have a local partner…Our association with Reliance Retail is that they have good knowledge about the market and also konw the cultural diversities of a vast country like India…,” he said.

The new Hamleys store has a display of toys for girls and boys.It also hosts exclusive Hamleys merchandise. The store is designed by Hamleys United Kingdom team and the staff inducted were trained at Hamleys Academy .

Twitter is Blocked In Egypt

Inspired by the recent Tunisian demonstrations against corruption, protesters are filling the streets of Cairo. And like the protests in Tunisia, the Egyptian ones were partly organized on Facebook and Twitter. And now Twitter appears to be blocked in Egypt.


Permanent Mission of ENGLAND to the United Nations
351 East 52nd Street, New York, NY 10022
Our Ref: UN/TH/066147/2011
Attention Beneficiary,
How are you today? Hope all is well with you and family? You may not understand why this mail came to you. We have been having a meeting for the past 3 months which ended yesterday with the secretary to the UNITED NATIONS. This email is to all the people that have been scammed in any part of the world, the UNITED NATIONS has agreed to compensate them with the sum of US$750.000.00 each and you have to indicate how much you lost in the hands of scammers.
This includes every foreign contractors, Inheritance,Dating and Lottery payment that have not received their Lottery/Inheritance payment, and people that have had an unfinished transaction or international Lottery payment that failed due to Government problems etc. We found your name in our list and that is why we are contacting you, this have been agreed upon and have been signed.
You are advised to contact Mr Billy Foster who is in charge of your payment through our paying center in Europe as he is our representative in England, contact him immediately for more information on how to get your compensation of US$750.000.00 payment from the United Nations.
Therefore, you should send him your full Name,telephone number and your correct home address, Contact Mr Billy Foster immediately for your compensation payments.
Person to Contact: Mr Billy Foster
Thanks and God bless you and your family. Hoping to hear from you as soon as you receive your compensation funds don’t neglect this I advice you.
United Nations, Making the world a better place.
Ban Ki-Moon

One-Month Bonus Pay To Expats, Urges Tabtabaei

Jan 19: Islamist MP Waleed Al-Tabtabaei requested private sector companies on Wednesday to grant all non-Kuwaitis under their employment a bonus  amounting to one month’s salary on the occasion of the national and liberation day anniversaries.

The bonus should  coincide with His Highness the Amir’s grant of KD 1,000 to all Kuwaiti nationals, Al-Tabtabaei said, adding  that the Kuwaiti people, especially merchants and businessmen, are known for their kindness and charity locally and abroad.

Larry Page To Replace Eric Schmidt As CEO of GOOGLE On April 4

The bigger story is that Google has just announced that co-founder Larry Page will be replacing Eric Schmidt as CEO of the company. This transition will take place on April 4, Google says.

Schmidt will take the role of “Executive Chairman” and will focus on “deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership,” the company says. He will also continue to act as an advisor to Page and fellow co-founder Sergey Brin.

Speaking of Brin, he’ll be working on “strategic projects, in particular working on new products,” the company says. His title will remain “co-founder”. So it sounds like no big change there.

Of the change at the top, Schmidt writes:

We’ve been talking about how best to simplify our management structure and speed up decision making for a long time. By clarifying our individual roles we’ll create clearer responsibility and accountability at the top of the company. In my clear opinion, Larry is ready to lead and I’m excited about working with both him and Sergey for a long time to come.


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