July was slowest for IPOs in five years — A measly 56 companies went public last month, raising $5.6 billion. Pretty depressing, compared to last year’s figure of 190 companies and $31.7 billion. This month is expected to be similarly slow, with a pickup coming late in the year or early next.
From free to 3 cents for music in China — Chinese startup Wawawa has a great idea: Actually charging for music in China, where the notion of paying for pleasant sounds hasn’t quite taken root yet. At 3 cents per song, it might even get some takers. As a hook to draw in users, the site will offer music from less well-known artists.Dean: Strong consumer electronics results and demand in emerging markets continued to boost semiconductor sales, with June figures up 8% from a year ago.
New Facebook competition kicks off — The fbFund Developer Competition for Facebook applications has begun, giving 25 top developers and entrepreneurs a chance to win $25,000, with a $250,000 grand prize.
EA’s payout for Rupture half the reported amount — Shawn Fanning, the founder of Napster, finally hit paydirt when Electronic Arts recently acquired ThreeSF, a company he started that was the parent of social gaming network Rupture. But where initial reports suggested that the acquisition price was $30 million, it was actually only $15 million, according to an EA 10-Q dug up by Silicon Alley Insider.
Where Google’s IPO went wrong — Most will have by now forgotten the parade of mistakes that attended Google initial public offering, but Lisa Buyer, who managed the debut, peels off the scabs to show what went wrong in an interview with peHUB. “We came across as exceptionally arrogant,” she says, “and I understand why.”
All the things a VC needs — What kind of return does it take to satisfy a venture fund, and more importantly, its investors? At least three times the initial investment, according to Fred Wilson, but if you want more details you can read the rest here.
Tesla brings on former Ford exec as CFO — California’s Tesla Motors has been filling its ranks with transplants from the traditional automobile industry. Following the recent appointment of Mazda North American concept car developer Franz von Holzhausen as design director at the company, it has now hired Deepak Ahuja, most recently controller for Ford’s fuel-efficient vehicle program, as chief financial officer.
Loopt signs up with MetroPCS — Having already launched on most of the major cell carriers in the United States, location-based social networking app Loopt has added MetroPCS to its roster.
Judge should dismiss MySpace case, says EFF — A case brought against the mother who allegedly drove a teenage girl to suicide in Missouri should not be pursued, says the Electronic Frontier Foundation, which fears that a precedent would be set for prosecution of many more Internet users.
