There are a million funding stories in the tech industry every week. And most of them aren't particularly newsworthy. But the news that ecommerce startup ShopRunner raised $75 million from Chinese Internet company Alibaba has a pretty delicious backstory. Alibaba is a huge, powerful ecommerce company doing tons of business in China.
by Dan Loeb:Third Point LLC, owners of 5.8% of Yahoo! (YHOO) shares, sent the following letter today to the Yahoo! Board of Directors:May 3, 2012Board of Directors Yahoo! Inc. 701 First Avenue Sunnyvale, CA 94089Dear Board of Directors:
(Reuters) - Yahoo Inc Chief Executive Scott Thompson is stepping down after a controversy over a fake computer science college degree on his biography, a source familiar with the situation said on Sunday. Thompson's interim replacement, effective immediately, will be Yahoo's global media head Ross Levinson. Yahoo was not immediately available for comment Yahoo has said that Thompson, the former president of eBay Inc division PayPal, did not have a computer science degree, despite what was stated in his official company biography and in regulatory filings with the U.S. ...
Thompson, who stepped down as Yahoo CEO Sunday in a shake-up triggered by inaccurate information in his official biography, will keep a US$1.5-million bonus and restricted stock valued at US$5.5-million that Yahoo paid him when he joined the company
Struggling Internet pioneer Yahoo! has admitted to making an "inadvertent error" after an activist shareholder pointed out that its CEO's online bio wrongly said he had a degree in computer science.Until late Thursday, the company's website had said Chief Executive Officer Scott Thompson had received a bachelor's degree in accounting and computer science from Stonehill College, the Wall Street Journal reported.