Tech Business Review: Zillow RIVAL Files For IPO, Nokia & Zynga PARTNER Up
International Business Machines Corp. (NYSE:IBM) Vice President Bob Cancilla says that his company intends to keep its five-year long acquisitions spree of storage firms going, even after its purchase of Texas Memory Systems, by snapping up additional firms in the storage industry, according to Bloomberg.
The Zillow (NASDAQ:Z) rival real-estate website Trulia is filing for an initial public offering, and is currently expecting to raise as much as $75 million in the act. Trulia’s first half 2012 revenue was posted as $29 million, which was up 78 percent year-over-year, but still suffered a loss of $7.6 million. The company has applied to list on the New York Stock Exchange under the ticker TRLA, according to its S-1.
Nokia Corporation (NYSE:NOK) and Zynga (NASDAQ:ZNGA) have formed a partnership, through which Zynga Poker and Draw Something will be now pre-installed on Nokia’s well-selling Asha feature phones. Zynga’s approximately $210 million purchase of OMGPOP brought the firm Draw Something, but the game has been experiencing slumping user activity, but in June, Zynga pleged to develop games for Windows Phone hardware like Nokia’s Lumia line.
Bankrupt Eastman Kodak (EKDKQ.PK) might not divest its patent portfolio after all, as the initial bids were far under expectations. The historic camera giant says currently that it “may retain all or parts of it as a source of creditor recoveries” while on Monday, extending the deadline for patent offers.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.