Public market buys ChangYou’s virtual goods model, stock up after IPO
In a public market vote of confidence on the business of virtual goods, Chinese game-maker ChangYou (CYOU) has gone public on NASDAQ today and its stock is currently up around 25 percent on heavy trading. Why? The company is seeing $202 million in annual revenue, more than half of which is profit, according to The Economist. Initial shares were priced between $14 and $16 but now it’s leveling out around $20.
ChangYou makes money from selling… Continue Reading
Roundup: Xbox defects rise, Windows Live Messenger comes to websites, and more
Here’s the latest action:
Joystiq reports rising Xbox 360 defects — Errors with the E74 code have been rising since the New Xbox Experience update on Xbox Live, according to a survey.
Windows Live Messenger adds chat to websites – In the words of TechCrunch’s Erick Schonfeld, “AIM, the ball is in your court.”
MySpace brings in Fotoflexer to allow photo customization — Up until this point, those features have only been available through third-party photo-editing tools.
Sohu files for an… Continue Reading
Roundup: Google stealing? Goog-411, Sansa Connect and more
Here’s the latest action:
Sam Zell, soon one of the largest U.S. newspaper publishers, says Google “steals” — The magnate, who recently agreed to acquire the Tribune Co., told a gathering at Stanford University Thursday: “If all the newspapers in America did not allow Google to steal their content for nothing, what would Google do, and how profitable would Google be?” This is remarkable, and could foreshadow a legal showdown, especially when Zell begins to realize how… Continue Reading