Badoo

Digital Media Week in Review: Feds Drop Rate; Yahoo Undervalued? Still Bullish on Apple?

Authored by Ned Sherman on January 27, 2008 - 4:54pm.

DMW’s CEO & Publisher provides a wrap-up of the top stories of the week. Who’s hot, who’s not and what’s the industry buzz?

There was no shortage of news for the week of Jan. 21-25. The biggest story: The Federal Reserve lowered the benchmark federal funds rate by three-quarters of a percentage point to 3.5%, its lowest level since September 2005, but the Fed’s actions couldn’t stop an already shaky stock market from continuing its downward spiral. After a sharp mid-week increase on news of the rate cut, the DMW100 ended slightly lower on the week.

Social Network Badoo Gets $30 Million, Debuts in U.S.

Authored by Mark Hefflinger on January 22, 2008 - 1:27pm.

Los Angeles - International online social network Badoo, which claims 12.7 million users, on Tuesday announced the launch of a U.S. version of its service. TechCrunch reports that the company this week also raised $30 million in funding, from Russian investor Finam.