This morning, a Wall Street Journal story by
It’s no secret that emerging markets are producing an increasing number of millionaires each year.
The Financialist, Credit Suisse’s digital magazine about business and economies, recently released a Global Wealth Report which looked at personal wealth around the globe. The report found that in the next five years more and more millionaires will come from countries in the developing world, such as Brazil and China.
By 2017, China, which currently has 964,000 millionaires, will have 1,901,000 millionaires—a growth of 97 percent, according to The Financialist. And Brazil, which currently has 227,000 millionaires, will have 497,000 millionaires by 2017—a growth of 119 percent. Russia and Malaysia will also see their numbers of millionaires grow over the next five years with a growth of 109 percent and 108 percent respectively.
See the full infographic below.
Groupon’s stock was up 23% today.
Two years ago, Google wanted to buy Groupon for $6 billion, but was rejected. Today, the company is worth $3 billion. While growth has slowed, its core business is bigger. Google might think that it could buy Groupon, shutter the underperforming businesses and fix the flaws.
Or, this could just be chatter. Bloomberg doesn’t really source where the speculation is coming from.
Groupon is on tear today for some reason.
The stock was up as much as 24%, and we’re not sure why.
The only thing we can think of is that there’s new news about CEO Andrew Mason, but we haven’t heard anything.
Developing…refresh this post for the latest.
Mobile continues to drive Pandora’s ad business.
Mobile ad revenues for its fiscal third quarter were $66 million, up from an estimated $53 million a quarter prior. Mobile accounted for 62 percent of total ad revenues, compared to 59 percent in the second quarter.
Overall mobile revenues, including subscriptions, increased $15 million in the quarter to $74 million.
Pandora is a prime example of how mobile is transforming what were once Web-based companies. With 77 percent of usage now coming from mobile— not to mention a majority of revenues— Pandora is essentially a mobile company.
VIENNA (Reuters) – An Austrian student group plans to go to court in a bid to make Facebook Inc, the world’s biggest social network, do more to protect the privacy of its hundreds of millions of members.
Privacy campaign group europe-v-facebook, which has been lobbying for better data protection by Facebook for over a year, said on Tuesday it planned to go to court to appeal against decisions by the data protection regulator in Ireland, where Facebook has its international headquarters.
The move is one of a number of campaigns against the giants of the internet, which are under pressure from investors to generate more revenue from their huge user bases but which also face criticism for storing and sharing personal information.
Europe-v-facebook has won some concessions from Facebook, notably pushing it to switch off its facial recognition feature in Europe.
But the group said on Tuesday the changes did not go far enough and it was disappointed with the response of the Irish Data Protection Commissioner, which had carried out an audit after the campaign group filed numerous complaints.
“The Irish obviously have no great political interest in going up against these companies because they’re so dependent on the jobs they c! reate,” europe-v-facebook founder Max Schrems told Reuters.
Gary Davies, Ireland’s deputy data protection commissioner, denied Facebook’s investment in Ireland had influenced regulation of the company.
“We have handled this in a highly professional and focused way and we have brought about huge changes in the way Facebook handles personal data,” he told Reuters.
Schrems, who has filed 22 complaints with the Irish regulator, said more than 40,000 Facebook users who had requested a copy of the data Facebook was holding on them had not received anything several months after making a request.
The law student also questioned why Facebook had only switched off facial recognition for users in the European Union, even though Ireland is the headquarters for all of Facebook’s users outside the United States and Canada.
Facebook is under pressure to reverse a trend of slowing revenue growth by selling more valuable advertising, which requires better profiling of its users.
Investors are losing patience with the social network, whose shares have dropped 40 percent in value since the company’s record-breaking $104 billion initial public offering in May.
Last month, Facebook proposed to combine its user data with that of its recently acquired photo-sharing service Instagram, loosen restrictions on emails between its members and share data with other businesses and affiliates that it owns.
Facebook is also facing a class-action lawsuit in the United States, where it is charged with violating privacy rights by publicizing users’ “likes” without giving them a way to opt out.
A U.S. judge late on Monday gave his preliminary approval to a second attem! pt to se ttle the case by paying users up to $10 each out of a settlement fund of $20 million.
Ireland also hosts the European headquarters of other high-tech firms including Microsoft and Google thanks to generous tax breaks.
Europe-v-facebook said it believed its Irish lawsuit had the potential to become a test case for data protection law and had a good chance of landing up in the European Court of Justice.
Schrems said the case could cost the group around 100,000 euros ($130,000), which it hoped to raise via crowd-funding – money provided by a collection of individuals – on the Internet.
(Additional reporting by Conor Humphries in Dublin; Editing by Mark Potter)
(This story was corrected to fix the headline, lead and the first paragraph to show that the campaign group plans to sue Irish regulator, not Facebook, in the first instance)
Copyright (2012) Thomson Reuters. Click for restrictions
Another great chart from Horace Dediu at Asymco. He looks at the advertising budget of Apple, Samsung, HP, Dell, Microsoft, and Coke. Why include Coke? Because it’s a huge advertiser, and its “primary cost of sales is advertising.”
As you can see, Samsung is blowing all the companies away in advertising and marketing.
Not a bad price to pay, if it means you get to become the world’s biggest smartphone company. Certainly HTC wishes it had Samsung’s marketing budget.
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
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