Kleiner Perkins said it would invest up to $20 million in social messaging app Snapchat, valuing the company at nearly $10 billion, Dow Jones reported Tuesday, citing sources. According to the report, Snapchat said it now has 100 million monthly active users, nearly half that of Twitter. Snapchat, a smartphone app that allows users to share self-destructing images, has become popular among teenagers in the U.S. and its currently one of Apple iTunes’ top 10 free apps. [CNBC]
Jonathan Bush is not in the business processing outsourcing business, or the enterprise software business, or the software-as-a-service business. (He’s in the software-enabled services business, whatever that means.) And the Athenahealth CEO is certainly not in the stock-valuation business.
Still, the nephew and cousin of presidents is pretty sure that David Einhorn meant to say that Athena stock—already trading at a frothy 100-times earnings—“could easily soar 800% or more” when he actually said “could easily fall 80% or more.” Well, maybe not that sure, but all the same. Read more »
Daivd Einhorn: Maybe It’s Time To Asking Questions Like, “Why The F*ck Did A Startup Texting Service Sell For $19 Billion?”By Bess Levin
Or something along those lines. Read more »