This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Yahoo!'s Spinoff; Impending Myspace Sale

Stocks in this article: NWSA YHOO

NEW YORK ( TheStreet) -- Yahoo! (YHOO) on Tuesday said it is creating a separate company called Hortonworks to provide support and service for users of its open source Hadoop software. Yahoo! is working with venture firm Benchmark Capital on the spinoff. Hadoop is technology that allows organizations more efficiently store and process big amounts of data and is used by companies like Facebook and eBay (EBAY).

Shares of Yahoo! rose 0.7% in pre-market trading on Wednesday.

News Corp (NWSA) is nearing a deal with ad targeting firm Specific Media to buy struggling social network Myspace, according to the Wall Street Journal. The deal may be valued at around $30 million to $40 million, with News Corp keeping a small stake in the company.

Social gaming company Zynga is expected to file an initial public offering as soon as Wednesday, according to reports. Zynga may be valued at as much as $20 billion, the biggest offering yet from a social media company. The name behind popular games like FarmVille and Words With Friends, Zynga generates most of its revenue through the sale of virtual goods.

RockMelt, a social media browser, said Tuesday it has raised $30 million in venture funding from Accel Partners and Kholsa Ventures. Accel's Jim Breyer, who helped make one of the first investments in Facebook, will join the RockMelt board as an observer. RockMelt, which integrates social networking services like Facebook and Twitter within its browser, has raised a total of $40 million in funding.

Mobile payments company Square, which allows small businesses without credit card readers to accept payments using only a mobile phone, closed a $100 million venture round valuing the company at $1 billion. Former tech analyst Mary Meeker, now a venture partner at Kleiner Perkins Caufield & Byers, will join the company's board. Square, only eight months old, was founded by Twitter creator Jack Dorsey.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs