DailyDose, your everyday technology brief is here. In today’s edition: LinkedIn beats expectations & Softbank’s new $250 mn Asia expansion fund for startups, Zynga cuts cost and posts profit and David Einhorn threatens to sue Apple for hoarding cash.
LinkedIn beats expectations, revenue up 81 % and profits up 66 % to $11.5 million: With over 200 million users, LinkedIn has become a bit of a Wall Street darling. LinkedIn posted $303.6 million in revenues in the fourth quarter. More here.
Apple is looking at issuing preferred stock to return $45 billion to shareholders. Activist shareholder David Einhorn’s hedge fund which has 1.3 million shares of Apple threatened to sue Apple for hoarding cash and not giving it back to shareholders. More here.
Softbank announced $250 million growth fund to help startups expand to Asia. Venture Capital arm of Softbank Corp announced a $250 million fund called “the PrinceVille fund.” More here.
Zynga Tops Profit, Sales Estimates as It Cuts Costs. Sales totaled $311.2 million and profits at 1 cent a share. Zynga cut costs by two thirds, dropping to $273.6 million in the fourth quarter from $797.8 million a year ago. More here.
Microsoft’s ‘Blue’ wave is coming to more than just Windows, reports Zdnet. Blue isn’t just the codename of the next version of Windows. It also is the codename for updates to Windows Phone, Windows Server and Windows Services. More here.