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Monaco made good on Indie Fund $100K before launch, what it means
Since 2010, Indie Fund has helped launch high-profile games such as Dear Esther, QUBE and Antichamber, each one recouping investment within days or even hours. The first game in which Indie Fund ever put its faith (and money), Monaco, launched last week and made back its $100,000 investment in negative time, before the game went live on April 24.Developer Andy Schatz opened Monaco pre-orders via the Humble Store in December, and Steam pre-orders went live on April 17. By April 20, Monaco had grossed $120,000, Schatz said, exceeding its Indie Fund investment a full four days before the game launched."For me the most significant thing about the early success with regards to Indie Fund is that it shows that there are many ways of approaching funding, from crowdfunding to investment models like Indie Fund, to personal loans – I know a number of devs that have taken loans from other devs – to the traditional publisher model," Schatz told Joystiq. "More options means the studios can customize their relationships to fit their personalities and their projects."Schatz used the Indie Fund investment partially to pay contractors and then to sustain himself and company expenses, including trips to PAX. Regardless of the cold, hard numbers, we thought Indie Fund's investment paid off particularly well with Monaco.
Google forms the Glass Collective to invest in eye technology entrepreneurs
Google believes that it's naive to build a wearable technology like Google Glass and expect successful businesses to simply materialize from thin air; those firms will need a financial nudge, too. Accordingly, Google is forming the Glass Collective to invest in projects centering on its eyewear. The partnership will see Google Ventures, Andreessen Horowitz and Kleiner Perkins Caufield & Byers unite on seed funding for those US-based startups which show promise in areas like communication and navigation. The group hasn't named any targets for its cash, but it's obviously very early days for both Glass and the Collective -- Google needs more developers in the field before it can shower companies with support. Update: According to TechCrunch, Google mentioned during the event that it hopes to get Glass hardware into developers hands "in the next month." Since it started preregistering folks at last year's I/O event, we'd also hope they will arrive in time for this year's Google I/O and inevitable skydive-to-stage live stream.
Sharp may be close to receiving a $110 million boost from Samsung (update: deal final)
Japan's Sharp has been struggling very publicly for some time now, and many reports indicate it's been looking outward for interested investors. While it already secured just such an arrangement with Qualcomm in December, rumors indicate attempts to reach a deal with Foxconn are in trouble and now Samsung is tabbed as a potential investor. Reuters and Japan's Nikkei cite sources indicating an official announcement could come sometime today regarding a 10 billion yen ($110 million) investment that would net the Korean electronics giant a three percent piece of Sharp. This deal would be mutually beneficial as Sharp gains a place to sell more of the LCDs it's capable of manufacturing, and Samsung cheaply expands its supply of panels, with a possibility of expanding their arrangement beyond LCDs in the future. We'll wait and see exactly what happens, but those IGZO screens Sharp is working on could be popping up in some unexpected places by the time it's all said and done. Update: Sharp has just confirmed that Samsung is now indeed a 3.08 percent owner thanks to an investment of 10.4 billion yen ($112 million). It said the deal would "further strengthen the alliance (with Samsung Electronics) and continuously provide a long-term, stable and timely output of LCD panels for large-size TVs and small- and medium-size LCD panels for mobile devices such as notebook computers." For more info, see the PR after the break.
Warren Buffett speaks out on Apple's cash pile
Warren Buffet was on CNBC yesterday, and the famous investor had some opinions about Apple, its stock price and the enormous pile of cash it's sitting on lately. His basic thoughts, not surprisingly, were just for Apple to keep making money. "The best thing you can do with a business is run it well," said Buffett, "and the shares will respond." Apple recently had a big investor try and sue them to get dividends from the company's cash back to the shareholders, but that lawsuit failed, and Buffett says he wouldn't have worried about it. "I would ignore him," Buffett said of the investor David Einhorn. "I would run the business in such a manner as to create the most value over the next five to 10 years." Which makes sense -- while stockholders might not be happy about not getting paid cash right now, no one will argue with an extremely valuable business that grows even more valuable in the future. Buffett also shared a story of Steve Jobs calling him when Apple made a little extra cash, and Buffett advised him to get some of the stock back. "When Steve called me, I said, 'Is your stock cheap?' He said, 'Yes.' I said, 'Do you have more cash than you need?' He said, 'A little.' [laughs] I said, 'Then buy back your stock.' He didn't," Buffett remembers. And Buffett finished his story with a wise bit of advice for Tim Cook, Apple and really any investor out there: "If you could buy dollar bills for 80 cents, it's a very good thing to do." Obviously, Apple is working hard on R&D spending, and the company could go through its vast cash reserves very quickly if that's indeed what it wanted to do. But instead, the strategy should probably be to keep making the company even more valuable, because both Apple and its shareholders will benefit if that happens.
European Commission invests €50 million into 5G research with a 2020 target
You're still waiting to get 4G? That's old hat: the European Commission is already thinking about 5G. It's investing €50 million ($65.3 million) into research with the hope that the next-next-generation cellular technology will be a practical reality by 2020. About €16 million ($20.9 million) of that is headed toward METIS, an Ericsson-led alliance hoping to develop wireless with 10 to 100 times the capacity, a similar increase in speed and just a fifth of the lag. Like a UK parallel, though, there's only so much technology talk the Commission can offer at this stage. The funding is as much for regional pride as progress -- officials want 5G to be a Europe-led affair after Asia and North America took center stage on 4G.
Samsung buys five percent stake in stylus-maker Wacom, strikes manufacturing deal
You don't have to look much further than the millions of Galaxy Notes sold to realize that Samsung is serious about the stylus, but the company's now made that commitment clearer than ever by buying a piece of Wacom. It's not the biggest of investments for a company of Samsung's size, but the $58.9 million it's laid out will give it a five percent voting stake in the company, and a further in with what is one of the world's leading stylus makers. According to Wacom, its share of the global pen tablet market stands at a whopping 85 percent, and its sales of its components for use in smartphones and tablets have nearly doubled from 2011 to 2012. As for where the new cash infusion will be put to use, Wacom says that by March of 2014 the entire net amount raised from the sale of shares will be invested in "product development and manufacturing and supply system enhancements for products to be supplied to Samsung Electronics," adding that it aims to "expand its relationship" with Samsung even further.
J.P. Morgan reduces Zynga ownership to less than one percent
Multinational banking conglom-o J.P. Morgan has reduced the amount of Zynga stock in its possession from 6.7 million shares to 2.6 million, All Things D reports. This represents a shift in its ownership of the developer/publisher from 6.7 percent to less than half of one percent, with the whole of its Zynga stock currently worth $6.73 million, based on Friday's closing value of $2.59 per share.When J.P. Morgan actually sold 4.1 million of its shares is unclear, as the last official announcement regarding the scope of its investment in Zynga was released in January of last year. By extension, the price that J.P. Morgan received per share is also unknown.In just the last few months, Zynga has shut down 11 games and closed studios in Japan and Boston, among other various events that haven't boded especially well for the value of its stock. J.P. Morgan's reduced ownership isn't a particularly strong vote of confidence either, though trading was up last week due to Zynga's hawkish acquisition of online gambling patents.
Sharp and Qualcomm to team up for energy-efficient IGZO display venture
We already knew that Sharp's been asking around for some much-needed help recently, and now we can all breathe a sigh of relief, as Nikkei is reporting that said manufacturer has finally found a new friend to help co-develop its energy-efficient IGZO LCD panels. Set to announce as soon as Tuesday (presumably Japan time), the deal will involve Qualcomm initially throwing in five billion yen ($61 million) by the end of the year, with a double-down of another five billion yen after "sufficient progress has been made." There's no timeline yet on when (or if) a full investment would be secured, but if all goes to plan, Qualcomm will eventually hold nearly five percent of Sharp's stock, whereas Sharp will more or less get back the 10 billion yen it lost to Sony following the termination of their joint venture earlier this year. Additionally, Sharp will also share some of the IGZO magic with Qualcomm to help improve the latter's Pixtronix MEMS display technology. Not a bad way for the two companies to wrap up 2012, eh? Richard Lai contributed to this report.
AT&T to spend $14 billion over the next three years on broadband, wireless infrastructure
AT&T has announced that it will be dropping a cool $14 billion over the next three years to beef up its wireless and wireline broadband networks. Project Velocity IP (VIP) will see the company attempt to boost its 4G LTE network to support 300 million users by year-end 2014 and expand its wired IP broadband base to 75 percent of customer locations by late 2015. In addition, the operator intends to have fiber deployed to a million business locations and plans to expand U-verse (internet, TV and phone combos) by 8.5 million to 33 million customer locations. When it's all said and done, AT&T predicts that 99 percent of customers will get broadband services one way or other, with $8 billion in investment heading toward wireless projects and $6 billion goosing up wired broadband -- so, nobody can say the telecom giant is hoarding all those profits. Check the PR after the jump for a full breakdown.
Sony makes Olympus rescue pact official with $645 million investment
After months of speculation about who would step in to save the scandal-ridden Olympus' rocky fortunes, Sony has finally opened up its checkbook. The two companies are entering into a "business and capital alliance," with Sony pumping in $650 million to its former rival. In exchange, it's gaining a seat on the company's board and a 51 percent stake in a new joint venture based on Olympus's coveted medical imaging tech -- something Kaz Hirai outlined in his "One Sony" strategy. The deal also includes a component-sharing agreement in the photography space, with Olympus mirror cells and camera lenses being given to Sony, while image sensors (where Sony is very strong) will go the other way.
Apple, Qualcomm tried to purchase exclusive access to TSMC chip production
Bloomberg is reporting that both Apple and Qualcomm were turned down by Taiwan Semiconductor Manufacturing Company (TSMC) in attempts by the two companies to invest cash and gain exclusive access to smartphone chips. Each company proposed investing more than US$1 billion in order to have TSMC set aside chip production capacity exclusively for them. Qualcomm and Apple are both trying to secure the chipmaking capacity to satisfy demand for smartphones, and either one of the deals would provide Apple with an alternative to Samsung -- which currently builds the primary silicon for both the iPhone and iPad. For Qualcomm, it's a necessary deal as well. The company's earnings are being limited by shortages of mobile phone chips it designs, and it no longer operates its own factories. TSMC is willing to devote a couple of factories to a single customer, but wants to retain control of its plants and doesn't need cash for investments, according to TSMC executives. The company is wary of dedicating a facility to one customer or product, since if the product or technology changes, they're stuck with a plant that requires a significant investment in order to repurpose it. For the present time, negotiations are apparently continuing although TSMC, Apple, and Qualcomm are not commenting.
Best Buy founder ever closer to finalizing company buyout bid
Best Buy founder Richard Schulze may have stepped down as chairman of the board, but he's certainly not out. His plan to buy the turbulent company has reached the next step -- an agreement which pre-empts the formal offer. Schulze now has access to all the private numbers he'll need to put together an investor group within the 60-day timeframe. And, if this round is unsuccessful, it'll be next January before another bid can go to the Board of Directors, followed by direct shareholder offers if the second attempt fails. Given that Schulze owns 20 percent of Best Buy, he gets two seats-worth of voting power as long as he sticks to the agreed process. So, with a new CEO taking the reigns in September and the acquisition machinery in top gear, is there fresh hope for the big box retailer?
Acronym-loving Samsung joins Intel and TSMC, buys stake in ASML
Samsung's round of cash-flashing continues with a $629 million purchase of a three-percent stake in ASML. It's joining Intel and TSMC in pumping money into the Dutch business, developing tooling for chip-making machines with Extra Ultraviolet Lithography (EUV) designed to "extend Moore's Law." It'll also help reduce the cost of future silicon, since it'll enable the companies to use wider silicon wafers along the manufacturing line. Given that Samsung's investment caps of a project to raise nearly $5 billion in cash and that ASML's home is just five miles west of PSV Eindhoven's stadium, we just hope they threw in a few home tickets for their trouble.
British Telecom says it's 'highly likely' to write off OnLive stake
British Telecom has reported that it is "highly likely" to simply write off the 2.6 percent stake it invested in the recently rebooted cloud computing service, OnLive. The issue isn't yet settled, but a BT spokesperson told TechRadar that "the 2.6 percent shareholding in OnLive does not represent a significant investment for BT as a whole. We consider it highly likely that we'll have to write off our investment."HTC also made a $40 million investment in OnLive, and it has already reported to the Taiwanese Stock Exchange that it considers the money written off. With all of OnLive's assets being transferred to form a new company, getting compensated for their investments may be more trouble than it's worth for both HTC and BT.But the book isn't closed just yet – BT says it will "keep a close eye on developments" with OnLive, and that current customers who are able to access the service can continue to do so for the time being.
BT planning to write off 2.6 percent stake in troubled OnLive
BT thinks that it's "highly likely" it'll let its 2.6 percent stake in OnLive go to the wall. It told TechRadar that it was keeping a "close eye" on the gaming venture which is restructuring in the face of spiraling debt costs. The telecoms provider has promised that its customers will be able to access the service (for as long as it exists, we guess) and that the investment is a small enough figure that it won't be worrying too much about its balance sheet.
Discovery Bay Games raises $15M for iOS "Appcessories"
Seattle-based Discovery Bay Games, a board game company turned iOS accessory maker, announced today it has raised $15 million in Series B funding, according to a report in TechCrunch. Big name investors include accessory maker Logitech and Trilogy Equity Partners, an investment firm led by Clearwire board chairman John Stanton. The company will use this money to further its line of iPhone, iPad and iPod touch accessories. Discovery Bay Games has been making iPad accessories since December 2010 and is most well-known for its Duo iPad game controller. The company also recently announced a partnership with Gameloft which will bring Gameloft's games to the Duo line of accessories.
Samsung spending $4 billion to renovate Austin chip factory
Premiership footballers will be weeping in envy at the way Samsung's been spending its cash this month. After splashing $822 million on a Korean R&D center, it's now chucking $4 billion to renovate its semiconductor factory in Austin, Texas. The cash will be used to increase production on system-on-chip products used in a wide variety of smartphones and tablets, presumably to cope with future demand. It's not clear if this investment is in addition to the $1 billion it was raising in January to add a new SOC and OLED line to the same facility, but it's certainly a good time to be living in Texas, right now.
HTC to lose its $40 million investment from OnLive's financial restructuring
As cloud-based gaming service OnLive struggles to reform itself and cope with its pricey infrastructure, HTC's $40 million investment made last year will disappear completely, according to a recent filing to the Taiwan Stock exchange. OnLive began streaming its gaming selection to Android smartphones and tablets at the end of the same year but we never saw any exclusive features for HTC hardware. Following some tough financial results, it packed up its Korean office and recently returned half its stake in Beats, although its involvement with OnLive had never resulted in the same degree of publicity.
Foxconn investment in Sharp looking less likely due to LCD manufacturer's shrinking stock value
Foxconn's parent, Hon Hai Precision Industry, partnered up with Sharp earlier this year, taking a stake in Sharp's Sakai LCD manufacturing plant and investing another $850 million in the company. Unfortunately, that latter investment deal is in danger of dissolving due to Sharp's financial troubles. The Wall Street Journal reports that Sharp's shares have fallen enough in the months since the aforementioned agreement was consummated in March -- due to flagging sales and excess inventory -- that Sharp's given Hon Hai the option to back out of the deal. However, Hon Hai's still interested in buying ten percent of the Japanese company, and has expressed an interest in renegotiating the terms of the investment. So, it seems we'll have to wait and see if Sharp accepts Hon Hai's continued advances, but you can read more about the company's financial woes right now at the source below.
NYT: Apple is (or was) considering a stake in Twitter
The New York Times is reporting that Apple might invest some of its considerable cash reserves in Twitter. After the unrewarded experiment that was Ping, Apple put a few hundred million dollars in Twitter in return for tighter cooperation between the companies and sharing Twitter's insight into the social media world. The conversations over the past few months have been private, the NYT reports, and the two companies are not in active negotiations right now. If there were to be an investment, however, it could raise Twitter's value to more than $10 billion. (Philip Elmer-Dewitt points out that both the NYT and the followup WSJ story implied that the conversations between the two companies had ended without any deal.) Tim Cook acknowledged at D10 that the company needed to be more social and that it could consider killing off Ping at some point. "We tried Ping, and I think the customer voted and said 'This isn't something I want to put a lot of energy into,'" he said during the conference. He pointed out that Apple doesn't have to own a social network to be more social and used the added integration of Twitter into OS X Mountain Lion as an example of that. But will this go through? It's hard to say. Remember, at one point there was speculation that Apple would buy Facebook. Apple has a solid relationship with Twitter though, with its deep integration into iOS and now OS X. The NYT reports that the integration of Twitter into iOS 5 has resulted in more than 10 billion tweets since last fall. It would make sense for them to invest financially in Twitter than to keep pumping resources into Ping. But what could Apple get from such an investment that it doesn't already have in its current relationship with Twitter? If Twitter goes public, Apple would most likely be a significant stockholder. It would keep Apple on the leading edge of social media instead of playing the catch-up game that it was doing with iOS 5 and Mountain Lion. Apple has used its cache of cash to buy companies that give it a strategic advantage, as seen with today's purchase of AuthenTec. Apple isn't willing to risk its relationship in Twitter going sour and might well invest in it financially to keep the relationship on an even keel.
