Roundup: Stock market drops, Microsoft retreats, and more

Roundup: Stock market drops, Microsoft retreats, and more

Here’s the latest action:

Tech stocks lead market to new lows — The thing about a downturn is it can always get worse. The Dow and S&P both hit 11-year lows on Monday, with the tech-driven NASDAQ’s 3.7 percent decline outpacing 3.4 percent drops in the blue chip averages.

Microsoft retreats on severance repayment demands — The software giant had initially asked laid off workers to return money that was in excess of planned severance payments, but backed off… Continue Reading

Fabrik raises $24.9M more for file storage and sharing

Fabrik raises $24.9M more for file storage and sharing

Fabrik, a company that offer online storage and easy sharing of big files, has just closed a $24.9 million deal and added Ross Levinsohn, former President of Fox Interactive Media, to the board.

Its financing came primarily from 3i, with a small chunk from ComVentures.

As noted before, Fabrik competes in an increasingly crowded market, though their website reveals an effort to create a youthful brand (compare their site, for example, to YouSendIt, Box.net, and Omnidrive). Fabrik… Continue Reading