Also: Google's stock takes the plunge; Gilt puts Jetsetter up for sale.
The company missed analysts' estimates on both sales and profit. Google shares slumped on the news before being halted for about 3 hours. The stock resumed about 40 minutes before the end of the trading day and closed down 8%.
Nokia CEO Stephen Elop has previously said he has "no indications" that Microsoft might be planning to launch its own Surface phone, but in an investor call today he appeared to welcome it. "It's certainly a stimulant to the ecosystem," says Elop, in response to questions on whether a potential Surface phone would be welcomed or seen as a competitor.
The Internet-based fashion company has been pitching Jetsetter to other online travel companies, private equity firms and other players in the past several weeks, people familiar with the matter said. Gilt had been seeking around $100 million for the unit, but so far there hasn't been much interest, some of the people said.
Gilt's move to sell the unit underscores how the New York based company has struggled at times to expand beyond its core business of holding time-limited online "flash sales" of women's fashions. It is under pressure to increase its revenue and expand into new markets, having raised another $138 million last year from a group of venture capitalists, a deal that valued the small retailer at $1 billion.
Sources said that the Color engineering team is likely to work on cloud technology at Apple. They're obviously not going to be working on live video apps for Android. As for Nguyen, it's not clear what's next.
Instead the co-defendants plan to introduce a much-anticipated new technology later this year that will allow users to once again upload, store, and share large data files, albeit by different rules. They revealed details of the new service exclusively to Wired.
They call it Mega and describe it as a unique tool that will solve the liability problems faced by cloud storage services, enhance the privacy rights of internet users, and provide themselves with a simple new business. Meanwhile, critics fear that Mega is simply a revamped version of Megaupload, cleverly designed to skirt the old business's legal issues without addressing the concerns of Internet piracy.
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As the Web grows more social and more mobile, women - entrepreneurs and users - are heeding the call.
By Jennifer Alsever, contributor
FORTUNE -- It's a woman's World Wide Web. Today's online experience is increasingly about connecting with people and sharing information -- and female users have responded enthusiastically. Some 56% of Twitterers are women; they are more than half of Facebook subscribers; and they make up 70% of Pinterest's MOREOct 1, 2012 5:00 AM ET
Fortune's curated selection of the weekend's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you every day.
"I still don't know if we have something. ... Whether we have something that will last for a really long time or is just a cool toy for people to play with now, we'll see. I think it's actually useful and not necessarily just a fad."" -- Mark MOREJP Mangalindan, Writer - Aug 15, 2011 3:30 AM ET
Media companies that define themselves by distribution channel instead of their content won't succeed.
FORTUNE -- Old media companies are falling behind because they're failing to adapt their business models to what consumers want. That was the consensus among those gathered for a panel on the future of publishing and broadcasting at Fortune's Brainstorm Tech conference on Thursday.
"There are these large institutions that feel like they have lost their way or MOREJessica Shambora, Writer-Reporter - Jul 22, 2011 11:29 AM ET
Fortune's curated selection of the day's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you every day.
"In a year, we've gone from very small to ... very small." -- Steve Ballmer, Microsoft CEO, on Windows Phone 7's market share (PC World)
* Cisco could cut as many as 10,000 jobs, or roughly 14% of its overall workforce, to keep profits up: 7,000 jobs would MOREJP Mangalindan, Writer - Jul 12, 2011 9:22 AM ET
A curated selection of the long weekend's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to your inbox every morning.Major executive shakedown over at Chinese business-to-business service Alibaba.com. CEO David Wei and COO Elvis Lee took responsibility and resigned over fraudulent company activity that they were reportedly not involved in. An internal probe found that 2,000-plus vendors on the e-commerce site submitted fake business MORE JP Mangalindan, Writer - Feb 22, 2011 5:00 AM ET
The home décor site has a strong pedigree (backing from Kleiner Perkins and a founder named Pincus). Can it become the Groupon of throw pillows and footstools?
Online retail is hot again, thanks to the growing popularity of "deal-a-day" and private sale sites. The latest obsession of tech investors? Home décor site One Kings Lane, which will announce today that it has raised a $23 million second round of funding from MOREJessica Shambora, Writer-Reporter - Feb 11, 2011 9:00 AM ET
This is one in a series of articles leading up to Fortune Brainstorm Tech, which takes place July 22-24 in Aspen, Colo. The articles will look back at the progress of companies that presented at Brainstorm in 2009 as well as look forward to those that will present this year.
By Mary Jo A Pham, contributor
Shoppers who thrive on elbowing competitors out of the bargain bin to get a Gucci markdown MOREJun 25, 2010 8:43 AM ET
"Deal a day" websites are changing the way we shop -- and raising tons of venture capital. Discounter Groupon is leading the way.
A few years ago Andrew Mason was a public-policy graduate student who had gotten into a social rut. "There's so much to do in Chicago," he recalls, "but I found myself going to the same movie theaters and restaurants."
To make trying new places less risky, Mason, 29, started MOREJessi Hempel, writer - Mar 18, 2010 6:00 AM ET
Online sample-sale company tries to bring its model to luxury travel
At the Cotton House, one of only two hotels on the tiny Isle of Mustique, warm breezes drift in from the Caribbean, which is always in view. As you nibble on caviar and sip champagne at dusk, the only sounds are those of the waves gently breaking and a jazz singer crooning in the distance.
Daydreaming at work? Or maybe you MOREJessica Shambora, Writer-Reporter - Sep 30, 2009 8:00 AM ET
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