Kevin Kelleher
Kevin Kelleher

Finally, the big dogs are coming to the public stock market

High valuations + big losses = uncertainty over how investors will react.

October has brought an autumn of discontent for tech

With two days to go in the month, the Nasdaq Composite has fallen 13%. Apple is down 7%, Facebook down 12%, Alphabet down 15%, Amazon down 23%, and Netflix down 25%.

Will 2018 be the rebound in tech IPOs that has been promised for years?

Thanks in good part to successful listings of digital household names such as Spotify as well as IPOs like Dropbox, Sonos, and Xiaomi, the IPO pipeline is now primed as liquidly as it's been in recent memory.

Facebook is closer to being another Yahoo than another Amazon

Something big is happening in social media, and investors in social-media companies can't make up their minds what it is.

Sonos' IPO: A first day pop, but can it fight off Apple, Amazon et al and win for the long term?

Sonos' strength lies in the managers guiding it -- but don't discount the possibility it could become the next TiVo.

Xiaomi's IPO takes a humbling blow, and that's not good for Chinese IPOs

What happens to Xiaomi's stock performance in coming weeks could end up influencing the reception that Didi, Ant and others get should they push forward with their own IPOs.

Netflix broke the old TV model, and now all hell is breaking loose

"The greatest rearranging of the media industry chessboard in history."

Four years after its IPO, Alibaba may be finally approaching its potential

Of all the tech companies to go public in the past five years, none has had as much potential as Alibaba.

A bunch of cloud companies you've never heard of are reviving the tech IPO market

You may or may not have heard of Zuora, but it's emerging as the poster child for the 2018 tech IPO market.

Tesla shareholders are waging a culture war of their own

If the stock market has a correlate of the culture wars that have divided political discourse into two irreconcilable camps, it's Tesla.

Facebook is now two companies. One is having a good week

Any large company is going to be seen as sometimes good, sometimes bad, but rarely has that tension played out so dramatically – and so weirdly – as it is right now with Facebook.

Netflix, born an underdog, now eats underdogs

There remains, as ever, many reasons to doubt Netflix. There is now, more than ever, ample evidence of why it doesn't pay to doubt Netflix.

Momentum is shifting from ad revenue to subscription revenue, and that's not good for Facebook

If there is one beneficiary emerging from the crisis of conscience engulfing Facebook right now, it's the subscription-based business model.

Softbank's Vision Fund: A 300-year vision with a case of myopia

Softbank's legacy may not be so much in 300-year returns, but in the short-term turbulence it's inflicting on Silicon Valley finance.

Spotify's direct offering is cheaper and simpler than an IPO, but brings new risks for investors

Could leave the stock volatile – often Wall Street-speak for “falling” - right out the gate.

Dropbox's prospectus offers encouragement to a weary IPO market

Dropbox is not only the largest IPO since Snap, it's the company likely to have the biggest influence on this year's IPO market.

Who had Twitter as the safe haven of choice during a tech selloff?

Lost in the Twitter stock rally is that the company's core market is weak to deteriorating.

Turns out no dancing hot dogs were necessary. All that Snap needed was to act like a grown-up

The narrative on the company has gone from discouragingly dark to blindingly bright in the space of less than a day.

Facebook, having reached a crossroad, is determined to travel down both paths

2018 may be the year when we find out what kind of company Facebook, at its very heart, truly is.

Netflix grows faster, spends more: A case study of tech optimism and unease

From a financial perspective, the prospects for big tech look as bright as ever. And yet, there is this nagging undercurrent that something, sometime has got to give.

Will Dropbox reset investor demand for tech IPOs?

Dropbox and its reception into the public market will have a huge influence on other private tech companies mulling an IPO.

It's time to replace the unicorn as a symbol of billion dollar startups. I have a suggestion...

Spotify is the king of an industry that's growing, but still starving.

How Stitch Fix built an IPO-worthy ecommerce company in an Amazon world

After several seasons of drought, the IPO market for consumer tech may be finally seeing signs of life.

There's so much that can go wrong for Snap before everything it's planning goes right.

Snap earnings: A service outage, followed by a financial outage.

In earnings call, Zuckerberg promises to target adversaries: Does he mean Russian trolls or US legislators?

If you're really serious about putting security over securities, maybe you can step outside of a manicured press release and defend yourself before the very institution you helped to weaken over the past year.

Alphabet, Amazon, Apple, Microsoft: With great scale comes great destructive powers

“Some people lose their sense of proportion; I've lost my sense of scale.”

Twitter earnings: Continually lower expectations for a company still awash in embalming fluid

Assessing Twitter's financial health has always been a good-news, bad-news affair.

It's a golden age of streaming. But what happens when the gold starts to run out?

Attracting all that online attention, and winning all those Emmys, costs an obscene amount of money.

Maybe unicorns weren't made to endure in this world after all

No big flame-outs, just the sad, slow deflation of a blow-up swimming pool.

Apple Earnings: Tim Cook has saved Christmas after all

The iPhone company would like you to know it's about more than just the iPhone.

Twitter: Driving with the parking brake on

Twitter seems to have resumed its campaign to become the Yahoo of the post-Yahoo era.

Are we now in a bear tech market?

For tech stocks it's the best of times, the worst of times.

2017: Year of the IPO as last resort

Last week was meant to mark a return to health for the tech IPO market, but instead it came down with a nasty summer cold.

Amazon-Whole Foods might not live happily ever after

Once upon a time, the bears used to talk about how Amazon the e-retailer was just another retailer in dot-com clothing.

Elon Musk's funny not funny shareholder meeting

He's here all week. Tip your waitress.

It's your turn, Blue Apron

The tech IPO market turns its weary eyes to you.

The AI-first era can't come quick enough for Google

If you're a gigantic tech incumbent, how you continue a revolution in 2017?

Snap's unhappy honeymoon

The first thing I thought when Snap unveiled its magic eraser this week was that a company losing as much money as Snap is should think twice about using that name.

Facebook: Entering middle age like a durable baseball player

Losing a little power while steadily expanding in girth.

Twitter's user engagement up as Dorsey admits it treats newsworthy trolls differently from other trolls

Dorsey, the half-time CEO, is taking a short cut that may appease shareholders in the short term but will haunt him in any historical legacy.

Andreessen was right: Hardware is hard

Software may be eating the world, but hardware is slowly eating itself.

Post IPO, Snap's appeal may prove as ephemeral as... well... you know

Snap's IPO filing is finally here, along with a reminder to be careful what you wish for.

Alibaba: We're a data company (But don't compare us to Amazon!)

Retail is for suckers. A data-driven platform that caters to those same suckers is where you really want to be.

2017 offers almost no hope, unless you're itching for an IPO

Then you have reason to hope. Or, more accurately, you have little other option than to hope.

GoPro has become the Twitter of hardware

2016 has been the year of Karma.

Amazon was always going to kill Black Friday. Now it's happening

Black Friday is finally suffering the long, slow death it deserves.

Mark Zuckerberg's first unwinnable fight

It turns out everyone is entitled to their own facts.

The incumbents are winning

The fickle attention of technology investors has taken an interesting turn this year – and when you think about it, a not entirely unexpected one.

Waiting For Yahoo's Turnaround: A four-year one act Beckett play

It's like Yahoo is trying to swallow itself into a vortex of its own happy jargon.

IPOs: Investors are being conditioned like puppies

There is something about the stock market that can take a bunch of maverick investors and turn them into a pliant herd.

BlackBerry: A door that is endlessly closing

The go-to hot take on BlackBerry's end of an era is strictly speaking not true.

The Samwers and Elon Musk: Last week wasn't great for Rockets

Rocket Internet said its first-half loss widened to €617 million ($688 million) in the first half of its fiscal year from €45.9 million a year earlier.

Facebook's earnings: Old hat, tailored for a bigger head

In the mixed up world of 2016, it's a little reassuring, if not terribly exciting, to have earnings as usual.

Twitter's news for investors is exactly what they didn't want to hear

“...less overall advertiser demand than expected.”

Post LinkedIn, is there a wave of tech M&A deals coming?

There's a new willingness – if not a growing restlessness – among VCs to explore buyouts of their portfolio companies.

The best hope for reviving tech IPOs is... Twilio?

Twilio isn't the blockbuster IPO Wall Street may have been hoping for, but it's a start.

Amazon is coming to eat your brand

When Amazon goes for blood, it doesn't binge. It laps like a killer kitten.

Year-on-year earnings declined for the fourth straight quarter: Worst since the Great Recession

investors have a sudden interest in steady profit growth -- and the sudden loss of appetite for companies that cannot deliver.

Amazon is one volatile puppy

Amazon had a strong first quarter, but probably not for the reasons you've been reading about in breathless tweets and giddy commentary....

Twitter earnings: The future will not be televised, but it will live video

During its earnings call, executives used “video” 58 times and “live” 46 times.

If this week's earnings are any indication, the IPO window is staying closed

To get an idea of how investors in the public stock market are feeling about private companies planning an IPO, just take a look at how they are treating tech stocks already in the market.

Yahoo's earnings call: A eulogy, or perhaps a job interview

It came and went, Marissa Mayer's last chance to prove she's turning things around at Yahoo before a big showdown at the company's shareholder meeting this June.

We may finally be seeing the year's first tech IPO

SecureWorks is a promising enough IPO candidate, but hardly a slam dunk.

Why is Verizon so eager to buy Yahoo?

The clock is ticking, and the number of suitors who have kicked the tired old tires on Yahoo is dwindling down.

Streaming music is having a terrible week. Unless you're Apple.

Investing in streaming music has always been like investing in subsistence farming.

The boardroom kabuki of Yahoo

The last act is so predictable it might as well be a foregone conclusion.

The switch to subscription has meant huge growth for Adobe

Adobe's stock has risen 174 percent in the past four years and 27 percent in the past year alone.

Is the worst over?

And if so, is there still life to be found in the market for tech IPOs?

Square is no Twitter

Finally, some good news for Jack Dorsey.

What is Microsoft becoming?

Twenty years of asphalt is behind us since Bill Gates wrote The Road Ahead.

Is Groupon entering a turnaround?

And will it finally deliver on its early promise?

Twitter needs a silver bullet, but Jack Dorsey only has shotgun pellets

Also: What jargon factory came up with the phrase “resurrected users”?

The tech industry's faith is starting to look a lot like denial

Say this for Silicon Valley: The blithe resilience built up after decades of booms and busts is as strong as ever.

Yahoo writes down the costs of being Yahoo

Under Mayer's tenure, Yahoo's history could be seen not as so much as a tale of an innovator finding its footing in a mobile economy as much as a hedge fund doing its damnedest to avoid paying taxes.

Amazon still delights in confounding its investors

A company named after a rainforest is now pleading to be understood as if it were an ocean.

If any tech company is living a charmed life in 2016, it's Facebook

The company gives investors a break in an otherwise turbulent earnings season.

Activists says Yahoo Japan is helping encourage the slaughter of elephants

Just when things were going so well for Marissa Mayer.

The only thing more riveting than watching Netflix is watching its stock price

"Up" for Netflix never involves anything resembling a straight line, but rather a line drawn by a hyperactive, sugar-fed child given a piece of chalk.

The tech twilight zone, where Yahoo aimlessly spins

There is a dimension of tech beyond that which is cherished by investors. It is the middle ground between failure and success, between innovation and stagnation, and it lies between the pit of man's fears and the summit of man's knowledge. It is an area which we call the twilight zone.

Behold Square, the first Eunuchorn

The judicious metaphor for the Square IPO turned out to be hidden inside its prospectus all along: the glass faucet.

Until recently, you had to be a failure to be in trouble. Now, it's enough for you to be weak

To get a sense of what the tech landscape may look like if, as expected, the capital markets dry up next year, consider Angie's List.

Facebook and Google: Zero sum game over

The two ad giants are not only cleaning up in the Internet advertising market, they are doing so at the expense of smaller companies.

Fitbit delivers strong earnings, stock tumbles

This must be what it feels like to score a personal best on a run only to have someone throw ice water over your head.

Paypal and eBay: A tale of two companies forced apart by Carl Icahn

PayPal, along with every company in its market, still has a big opportunity ahead of it. That's the good news.

That didn't take long. Investors are already impatient with Dorsey

The work-in-progress status shouldn't come as a surprise to anybody who has been watching the company over the past year.

Google, uh, Alphabet shows further signs of growing up

Alphabet's first earnings call reveals a startup that increasingly talks like an adult. And Wall Street is totes loving it.

IAC's dating property spin-off will bundle Tinder with 44 other dating properties (and... uh... The Princeton Review)

Anyone keen to get in on the future of online dating is going to have to invest in the past of online dating as well.

Remember when everyone was scared of Google?

A decade ago, Google seemed unstoppable. Today it's less and less on the offensive and more and more on the defensive.

Square's IPO prospectus shows just how much the company needs a full-time CEO

The company faces a long and arduous uphill battle to achieve its goals. That can't be won part-time.

GrubHub is caught in a tug-o-war between bulls and bears

Meanwhile, the rest of the on-demand delivery space waits to read its entrails.

Fitbit offers private companies some IPO encouragement. For now, at least...

Fitbit's brand and technology are both strong enough to set it apart, but the bearish view is that these advantages will weaken over time.

Finally, Yahoo has some good news for shareholders: Things could be worse

No, really, that was the message between the lines of legalese in an SEC filing Yahoo made this week. Hang in there, things could be worse!

After years of decline, BlackBerry has finally hit bottom. It hopes.

Imagine if the Hershey Company's future depended in good part on the success of the Reece's Peanut Butter Cup and you have a pretty good idea why BlackBerry is hoping you'll like its new Priv smartphone.

The US IPO markets are so dismal that Deezer looks interesting

Just when you start to adjust to the new reality, things get even drier.

One grueling year post-IPO, Alibaba needs transparency more than ever

Saturday marked the one-year anniversary of Alibaba's IPO, and if you didn't hear a lot of cheering it's probably because there hasn't been too much to celebrate lately.

Apple's “Special Event” was underwhelming, but that's a good thing

Apple has learned not only to live with the disposability of digital architecture, but to profit from it.

The more we Tinder, the more things stay the same

Is Tinder really resonating in a way that no dating site or app ever has? Is it to those same precursors what Facebook was to Friendster? I went on to find out.

Flash Sales finally meet their sad end… in the arms of QVC

Cursed by an inflated IPO valuation, Zulily ends up where no startup wants to be.

Disruption or human lives? Amazon story shows we'll soon have to pick a side

This isn't just a question about Amazon. It's a question about where we want the tech industry to navigate in coming years.

Facebook gives engineers gazillions of stock options, hoping they'll find the next big thing

Investors to Facebook: No, but what have you done for me this exact second?

Jack Dorsey's blunt talk cost Twitter investors $5 billion. And he said nothing new

Twitter's earnings call was going so well, until the new CEO opened his mouth.

As Amazon turns 20, investors grudgingly admit Bezos was right all along

If Prime Day was about how brilliant Amazon's past has been, its earnings report offered a glimpse into how bright the company's future looks.

If Twitter's for sale (which, like it or not, it is), here's why Google should buy

If anything seems certain about the future of Twitter, it's that an acquisition by a larger company is looking like the most probable endgame.

Netflix is one of the most successful companies in the tech sector, and the most absurdly valued

Netflix shows us that even the most successful companies can be dangerously overvalued.

Happy Google investors may not be good for the company's long-term vision

Google's 300-year plan is losing more and more ground to the three-month forecast.

Ahead of its IPO, PayPal is the king of online payments. So why does it still control less than 1% of its market?

In 2002, eBay gobbled up PayPal. To show you how much the playing field has changed its since then, this Friday PayPal will be spitting out eBay.

Airbnb wants you to know it's helping middle-class families (but not that it's hurting them)

Airbnb's latest report is more notable for what it leaves out than for what it celebrates.