Lundin family sells its stake in Avito
The Swedish-Canadian finance family Lundin sold its 31.1 percent stake in Vostok Nafta, one of the founders of the leading Russian classified site Avito, to the New York-based investor Luxor Capital Group. After the transaction Luxor controls 33.69 percent of Vostok Nafta, which in turn owns 13.8 per cent of Avito. (This stake went down from 23.8 percent to 13.8 percent, when South...
Read MorePinterest introduces added info for pins, many more mobile features
Social photo site Pinterest has rolled out a number of features that are designed to “make pins more useful,” according to its blog. Pinterest went out to other websites to add info to popular pins and boards. Here are some organizational changes: -Product pins for things like clothes and furniture with pricing, availability, and where to buy (updated every day!) -Recipe pins from...
Read MoreAOL’s Patch lays off about 40 news staff; more money for ad sales / classifieds?
In an AOL staff memo last week, CEO Tim Armstrong announced news staff layoffs at Patch.com. He also promoted president and COO of Patch Media to its CEO, replacing Jon Brod, according to All Things Digital. There was no mention of any advertising sales layoffs. In fact, Patch may be freeing up news funding for ad sales hires and training, as we discussed earlier this month. AOL told...
Read MoreChairish adds search, local pickup, “make me an offer”
We just got this email from high-end home furnishings marketplace Chairish, about its latest features: Search, local pickup and Make me an Offer option. Smart...
Read MoreYahoo wins big drop in lawsuit judgment owed Mexico’s World Wide Directories
While it still must pay Mexico’s World Wide Directories, Yahoo’s successful court appeal has reduced the original judgment for breach of contract from $2.6 million to $172,500. Of course, plaintiffs may now appeal this decision. May 16, 2013 Yahoo Granted Favorable Ruling in Mexico City Superior Court of Justice SUNNYVALE, Calif.–(BUSINESS WIRE)– Yahoo!...
Read MoreAuctionZip announces timed auction beta
AuctionZip, one of the largest online auction platforms, includes automotive and several real estate categories for its 25,000 auctioneers and more than 13 million buyers . It has just added a Timed Auctions beta to its long-time live auction platform. Here’s the announcement: AuctionZip Launches Beta of Its New “Timed Auction” Service AuctionZip’s “Timed Auctions” Offer...
Read More