Today in Tech: Despite strong earnings, Pandora CEO steps down

March 8, 2013: 3:30 AM ET

Also: Facebook announces a radical new look to the News Feed; Is Brit Morin the Millennial's Martha Stewart?

Pandora CEO Joe Kennedy is stepping down.

Pandora CEO Joe Kennedy is stepping down.

Amid strong Q4 results, Pandora CEO Joe Kennedy steps down as board searches for replacement [THE NEXT WEB]

The Internet radio company reported revenue of $125 million, and a non-GAAP loss per share of $0.04 for the fourth quarter of 2012, besting analyst expectations of $123 million and a $0.05 loss. Mobile in particular was a positive for Pandora, as mobile revenue was up 111% year-over-year to $80.3 million and mobile listening hours increase 70% during the period. Though the company still posted a loss, investors were encouraged by the results, pushing shares of the company up over 19% in after-hours trading.

Meet Facebook's new news feed [FORTUNE]

Facebook CEO Mark Zuckerberg was clear during the company's press announcement that the other purpose for the change is to provide users with a more personalized experience on the social media site. "What we are trying to give everyone is a copy of the best personalized newspaper in the world," he said at the company's Menlo Park, California headquarters. This new design also more prominently features photos, which already make up roughly 50% of all News Feed content. Articles posted will include a larger image and a longer summary. When users list 'Places' alongside a status update or post, that information will also receive more prominence, including a larger map that spans the width of News Feed.

Next Intel CEO to guide new business, maybe Apple deal [REUTERS]

Such a move may also offer a backdoor of sorts into large-scale production of chips for mobile devices, where Intel has made little headway after underestimating the impact of the iPhone and iPad and falling behind more nimble rivals.

Intel said last week it will open up its prized manufacturing technology to make chips designed by fellow chipmaker Altera -- snagging its first sizeable customer in a contract manufacturing, or "foundry", business expected to grow.

Brit Morin -- DIY for the tech generation [SAN FRANCISCO CHRONICLE]

A decade later, Morin has positioned herself as the Millennial generation's Martha Stewart, having launched an eponymous lifestyle brand, Brit + Co., which produces video tutorials, alongside a wedding planning app, and subscription DIY kits. Crafting tutorials have been popular for years, but Morin's earnest approach and serious tech cred - she worked at Apple and Google - give her an endearing and authoritative edge when it comes to dispensing iPhone battery-extending tips and microwave-only brunch recipes.

Loose lips: Yahoo M&A head told employees company looking at two 'significant' and a half-dozen small buys [ALL THINGS D]

But when Reses — who also wears another corporate hat as head of M&A at Yahoo — spoke she mentioned to the crowd that Yahoo was working on two "significant" acquisitions and about six smaller talent "acqhires."

"It was kind of odd to telegraph it in such a big forum," said one employee of Reses's comments at the meeting in late February.

The revelation was unusual, to be sure, but perhaps not a surprise, given the recent run-up in Yahoo stock, its healthy cash position and, most of all, its need to add meaningful growth to the current efforts at turnaround.

Don't miss the latest tech news. Sign up now to get Today in Tech emailed every morning.

Join the Conversation
About This Author
JP Mangalindan
JP Mangalindan
Writer, Fortune

JP Mangalindan is a San Francisco-based writer at Fortune, covering Silicon Valley. Since joining in 2010, he has written on a wide array of topics, from the turnaround of eBay to the evolution of net neutrality. A graduate of Fordham University, Mangalindan has also written for GQ, Popular Science, and Entertainment Weekly.

Email JP
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.