FRANKFURT (Reuters) - Germany's Rocket Internet went to investors with a capital hike just four months after its stock flotation, asking for fresh funds following a 1 billion euro spending spree that targets online food takeaway businesses as the next big thing.
The Berlin-based company, Europe's biggest Internet player thanks to its stakes in more than 100 start-ups ranging from fashion to finance, raised 1.4 billion euros ($1.6 billion) in its October IPO. It added a further 588 million euros on Friday that it said would allow it to continue to look around.
BEIJING/BENGALURU (Reuters) - Baidu Inc's shift to smartphones has come at a cost: the Chinese internet firm forecast lower-than-expected revenue growth for the first quarter as its share from less profitable mobile browsing grows at the expense of PC searches.
Baidu shares fell more than 9 percent in after-hours trading in New York after it also posted a lower-than-expected 47.5 percent rise in fourth quarter revenues. Its revenue forecast of 12.65-13.07 billion yuan ($2-$2.1 billion) for the current quarter came below analysts' average expectations of 13.62 billion yuan.
SAN FRANCISCO (Reuters) - Xiaomi [XTC.UL], China's largest smartphone company, will begin selling headphones, smart wristbands and other accessories online in the United States in coming months, taking its first tentative step onto Apple Inc's home turf without its signature Mi mobile devices.
The company also said it is close to securing a manufacturing partner in Brazil, which will help it skirt punishing tariffs on imported electronics when it begins sales in Latin America's largest economy in the first half of this year.
(Reuters) - Akamai Technologies Inc's quarterly profit and revenue beat market estimates as demand jumped both for its security products and mainstay content delivery businesses.
Akamai shares shot up 5 percent in extended trading on Tuesday before shedding some gains after it issued a cautious forecast for the current quarter.
Revenue in Akamai's security business soared 24.7 percent to $239.7 million in the fourth quarter ended Dec. 31.
High-profile hacking incidents have dogged companies including Sony Corp, Target Corp and health insurer Anthem Inc in recent years.
SINGAPORE, (Reuters) - Data traffic on Chinese mobile devices jumped almost 50 percent last year but overall usage was modest by global standards, reflecting low consumption in rural areas that hasn't gone unnoticed by telecoms firms.
SAN FRANCISCO (Reuters) - With its surprise endorsement of a stricter U.S. regulatory regime for Internet service providers, Sprint Corp wanted to show that tougher rules would not stop rival telecom players from investing, Chief Technology Officer Stephen Bye said in an interview.
"It's one of those topics that is highly charged, highly politicized and we took a step back and said it works in the interest of our customers, our consumers and the industry and we frankly found some of the arguments (of our competitors) to be less than compelling," Bye told Reuters this week.
(Reuters) - Network equipment maker Cisco Systems Inc reported stronger-than-expected quarterly revenue and profit as demand for switching equipment and routers helped make up for weak spending by the company's traditional telecom customers.
Cisco, which saw its shares rise 5.6 percent in extended trading on Wednesday, has been trying to make a transition toward a new cycle of high-end switches and routers.
""We executed very well in a tough environment, and I'd say our strategy is playing out like we expected," Chief Financial Officer Kelly Kramer told Reuters.
LONDON (Reuters) - British data center provider Telecity Group Plc has agreed a non-binding $2.2 billion all-share deal to buy New York-listed Interxion Holding NV, looking to tap growing demand for "cloud" technology.
Shares in Telecity, which like its new partner operates some of the huge computer centers which process traffic on the Internet, rose more than 16 percent to their highest in some 19 months.
WASHINGTON (Reuters) - Calling the destructive cyberattack on Sony Pictures "a game changer," a top White House official on Tuesday announced a new intelligence unit to coordinate analysis of cyberthreats, modeled on similar U.S. government efforts to fight terrorism.
Lisa Monaco, President Barack Obama's homeland security and counterterrorism adviser, said the new agency will rapidly pool and disseminate data on cyberbreaches, which she said are ballooning in size and sophistication, to U.S. agencies.
CAIRO (Reuters) - Vodafone Egypt plans to spend around 9.5 billion Egyptian pounds ($1.25 billion) on upgrading its network over the next three years to keep pace with demand for data services, its CEO said.
Vodafone Egypt, majority owned by British mobile operator Vodafone, is the leading communications player by customer numbers in the country of 90 million.
"Annual investments will represent more than 30 percent of annual revenues," Chief Executive Officer Ahmed Essam told Reuters in an interview.