A new Google search tool to allow people to search easily for air travel and book travel plans is now on the runway. Google said Thursday that it had agreed to acquire ITA Software, a 14-year-old company that makes software that organizes flight and pricing information, for $700 million in cash.
Given that about half of airline tickets are sold online these days, it’s perhaps no surprise that Google has just snapped up ITA Software in a deal worth some $700m. The search behemoth says it is getting its hands on ITA, which gathers and processes flight information such as seat pricing and availability, to make it easier for people to find quickly the flights they want at the very best prices [Source].
GE has a whole lot faith in its ecomagination initiative. So much faith, in fact, that the company is pumping $10 billion into the project’s R&D over the next 5 years–effectively doubling its investment from the past 5 years.
The reason is simple: ecomagination is a cash cow, generating $70 billion in revenue since its inception in 2005. GE believes it will generate $25 billion in 2010, up from $18 billion in 2009. Over the next 5 years, GE hopes that ecomagination revenue will grow at twice the rate of the company’s total revenue.
Ecomagination encompasses a broad set of projects. So far, ecomagination has spawned everything from low-energy digital mammography machines and aircraft engines to gas turbines and nuclear plants. There’s plenty more on the way, including a massive battery plant in New York, a $2 billion wind project in Oregon, and a series of high-end energy-efficient front-load washers and dryers set to be manufactured in Kentucky. And we can’t forget GE’s ambitious plan into integrate appliances (i.e. hot water heaters, microwaves, and oven ranges) with smart grid technology.
VCs are on the hunt, and it doesn’t matter if a company is in Boston, Beijing, or Menlo Park, they’re looking to fund great ideas anywhere in the world. Some are even opening offices overseas in an effort to find the next big international thing.
For decades, the success of Silicon Valley has been undeniable. Venture capitalists’ investments have spawned some of the world’s most recognizable brands. Apple, Google, Intel, Cisco, Yahoo, eBay, and dozens of other household names were born and nurtured here. However, the model is changing. Venture capitalists and the companies they fund are looking beyond the Valley more often and with an eye to replicating the success of the Valley in other parts of the world ready for entrepreneurialism, risk, and reward. Find the complete article here.
The centre of the venture capital universe happens to revolve near Stanford University in California: Sand Hill Road to be precise. Explore the firms that drive the industry by clicking here for an interactive video.
As national governments fail to cut carbon, cities are starting to take the initiative with programs aimed at reining in emissions. The efforts could have a profound impact: Cities are home to more than half the world’s population and pump out more than two-thirds of global carbon dioxide.
From the motorways of Los Angeles to the canals of Amsterdam, cities are taking the lead in the fight to reduce carbon output. As world leaders squabble over how to cut greenhouse gases, city hall is becoming the best hope for climate action. Given their smaller jurisdictions, local officials can green-light eco-projects faster than nationwide schemes can be implemented.
In Amsterdam, city elders are in the midst of a five-year, $1 billion program to improve creaking infrastructure. Amsterdam’s 2,400 houseboats have been fitted to use electricity instead of diesel, and cargo barges are now being converted as well. New York, meanwhile, has laid out a program called “PlaNYC.” The scheme includes tax breaks for solar panels, legal changes that spur property owners to make buildings more energy-efficient, and power plants that use food waste and wood chips. Find the complete special report on Green Energy here.
The World Competitiveness Yearbook 2010 from Swiss business school IMD finds the U.S. and Europe losing their edge to fast-growing Asian economies.
A lot can change in 12 months. At this time last year, Western nations dominated the annual ranking of the world’s most competitive countries prepared by the IMD business school in Lausanne, Switzerland.
Now, in the most recent ranking released May 19, five of the top 10 are from the Asia-Pacific region. Emerging-power China, ranked No. 18, has gained ground, even as No. 3-ranked U.S. and No. 22-ranked Britain slipped in the global pecking order. Check out the top 10 here.
Microsoft bids to keep its grip on corporate computing against Google’s challenge.
In a significant move, Microsoft announced new, web-based versions of popular applications such as Word and Excel as part of the “Office 2010” release, and unveiled changes designed to make it easier for workers to collaborate using its software. These initiatives come at a critical time in the evolution of corporate computing. After dominating the office desktop for so long, Microsoft now faces a growing challenge from a variety of companies that are betting they can leverage the cloud to erode its share of the market.
Among other things, the new, web-based version of Office will make it much easier for workers to use documents and spreadsheets on a host of different devices, including smart phones. Microsoft has also tweaked its software to make it easier for people to, say, embed videos in PowerPoint presentations and to integrate data from their social networks into online calendars and e-mail services. And the company plans to offer a free, stripped down version of its web apps that will compete directly with Google’s mass-market offering [Source].
A sharp brand certainly helps. Portfolio.com ranked the top 25 brands for small- to mid-sized businesses in the USA. Find here the results.
Furthermore, you can find Portfolio’s special report on branding here. Insightful article are how Singapore branded itself and how Nike is branding itself beyond the swoosh.
Apple is accelerating the rate of acquisitions as the company vies with Google for mobile technologies and talent. Since returning to Apple as CEO in 1997, Jobs has made 13 acquisitions, according to Bloomberg data. Of those, five happened in the past seven months alone.
“The pace has really picked up, there seems to be a strategic shift,” said Charlie Wolf, an analyst with Needham & Co. in New York. “It looks like there’s an acquisition frenzy going on between Google and Apple in the sense that there’s an increasing urgency on Apple’s part to stay even if not ahead of Google in the phone space and apps space.”
Patent filings may provide clues to potential targets. Apple recently sought patent protection for mobile purchasing and touch-screen technology. Even with the new attention to M&A, Apple will maintain its strategy of focusing on smaller companies rather than taking on the risks of integrating large ones into Apple’s culture.
With more than $23.1 billion in cash, Apple has plenty of money to keep purchasing small startups. Counting long-term investments that the company can “liquidate in a day,” Apple had $41.7 billion in cash at the end of the last quarter, Broadpoint’s Marshall said, In comparison, Google had about $26.5 billion, he said [Source 1] [Source 2].
Powerful trends are at work — all around the world — forcing changes in how health care will be conceived and delivered in the decades ahead. The editors of Harvard Business Review have compiled a list of 12 megatrends that will dramatically change how we must think about the issue and some of the largely unrecognised consequences.
Megatrend 1: Innovation and demand soar in emerging economies
Megatrend 2: Personalised medicine and technological advances
Megatrend 3: Aging populations overwhelm the system
Megatrend 4: Rising costs
Megatrend 5: Global pandemics
Megatrend 6: Environmental challenges
Megatrend 7: Evidence-based medicine
Megatrend 8: Non-MDs providing care
Megatrend 9: Payers’ influence over treatment decisions
Megatrend 10: The growing role of philanthropy
Megatrend 11: Prevention is the next big business opportunity
Megatrend 12: Medical tourism
A new Google search tool to allow people to search easily for air travel and book travel plans is now on the runway. Google said Thursday that it had agreed to acquire ITA Software, a 14-year-old company that makes software that organizes flight and pricing information, for $700 million in cash.
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