Digits
November 10 2015 - 2:02AM
Dow Jones News
(FROM THE WALL STREET JOURNAL 11/10/15)
Facebook to Appeal
Brussels Court Ruling
Facebook Inc. said Monday it would appeal a privacy decision by
a Brussels court to stop tracking its users in Belgium without
their consent.
Local media reported Monday evening that a Brussels commercial
court had ruled that Facebook must stop within 48 hours the
collection of data on users' Internet browsing when they aren't
logged in. If they didn't stop, then Facebook would face a daily
fine of 250,000 euros ($269,000), the reports said.
Facebook has acknowledged that it collects data on users'
Internet browsing even when they aren't logged in, through a
snippet of computer code called a cookie that it places within an
individual's Web browser if they have visited the Facebook.com
website.
"We've used the data cookie for more than five years to keep
Facebook secure for 1.5 billion people around the world. We will
appeal this decision and are working to minimize any disruption to
people's access to Facebook in Belgium," a Facebook spokeswoman
said.
Facebook didn't give further details of the verdict.
-- Natalia Drozdiak and Laurence Norman
Atlassian Files for IPO
Software-tools maker Atlassian Pty Ltd., which has been valued
privately at more than $3.3 billion, made its filing for an initial
public offering public Monday after filing confidentially earlier
this year.
The company will likely be watched intently by other closely
held, highly valued companies that will need at some point to
return money to their investors.
Atlassian, however, in several ways isn't typical of its peers.
Founded in Australia in 2002, the company was bootstrapped to
profitability by its founders and didn't raise venture capital
until 2010. It has since raised two rounds of funding totaling $210
million so its employees could sell shares.
Revenue for the fiscal year ended June 30 was $319.5 million, up
nearly 50% from $215.1 million in 2014. Net income fell by about
two-thirds to $6.8 million, down from $19 million the year
before.
But the company's growth continues. For the quarter ended Sept.
30, revenue increased to $101.8 million from $67.9 million. Net
income rose to $5.1 million from $3.6 million.
Principal shareholders include Accel Partners, which was the
sole venture-capital investor in 2010 when Atlassian raised $60
million and holds 12.5% of shares, according to the filing. Accel
General Partner Rich Wong is on the board.
-- Deborah Gage
Rackspace Hosting's
Results Top Views
Cloud-computing company Rackspace Hosting Inc. posted higher
profit and revenue in the third quarter.
Shares, down 42% this year, rose 8.9% to $29.49 in after-hours
trading as results topped Wall Street projections.
Rackspace, which last year called off a possible sale, saying it
failed to attract a high enough offer, has struggled to increase
business since it changed its business model to focus on the
so-called managed cloud market, selling bundled computing and
support.
The San Antonio company is one of the pioneers in
cloud-computing services, which free companies from having to
build, maintain and staff data centers. It has reached partnerships
with Amazon.com Inc., Microsoft Corp. and Intel Corp.
Overall, Rackspace reported profit of $36.5 million, or 26 cents
a share, compared with $25.7 million, or 18 cents a share, a year
earlier.
Revenue rose 11% to $508.9 million.
Analysts surveyed by Thomson Reuters projected 20 cents a share
on $503.1 million in revenue.
-- Maria Armental
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(END) Dow Jones Newswires
November 10, 2015 02:47 ET (07:47 GMT)
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