Formerly known as Buy360, JD.com is an online retailer that can be compared with Amazon.com, Inc. (AMZN). The company has over 45 million active customer accounts, and warehouses and delivery stations that span the length and breadth of China. The company holds inventory and directly delivers products to consumers, managing the entire process from start to finish.
Over the last year, Facebook CEO Mark Zuckerberg has repeatedly emphasized his company’s social mission, “to make the world more open and connected.” It turns out that he’s interested in building a lucrative business as well. After Facebook’s surprisingly strong earning report, highlighted by impressive performance generating mobile revenue, the company’s shares skyrocketed by 20% on Wednesday, in the largest one-day gain since the company went public back in May.
Fred Wilson, founder of Union Square Ventures and a Silicon Valley investor who has backed Twitter, Tumblr, Foursquare, and Kickstarter, says in a blog post today that the IPO market for tech companies with multi-billion-dollar valuations may be "disappearing."
Nasdaq is taking steps toward compensating investor losses due to computer glitches that fouled trading on the first day of Facebook's $16 billion IPO, the Wall Street Journal said Tuesday.Nasdaq OMX Group, which operates the Nasdaq exchange, has told brokers that it expects to submit plans on the issue to the Securities and Exchange Commission on how it might make up losses tied to its systems problems, the Journal reported.
By Simon Johnson
Two diametrically opposed views of Wall Street and the dangers posed by global megabanks came more clearly into focus last week. On the one hand, William B. Harrison, Jr. – former chairman of JP Morgan Chase – argued in the New York Times that today’s massive banks are an essential part of a well-functioning market economy, and not at all helped by implicit government subsidies.