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Stamps.com Profit Plunges After Ending Postal Service Partnership

L.A. Business Journal

In its first quarterly earnings report since terminating the agreement, Stamps.com posted a net income of $14 million, down 69% from $45.5 million this time last year.

.Net 187
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Napster Going To Rhapsody, Says Report

socalTECH

A report today says that Napster , the online music service now owned by Best Buy, is being sold to Rhapsody. Los Angeles-based Napster was acquired by Best Buy in September of 2008 in a deal which was worth net value of approximately $54M. READ MORE>>.

Report 203
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Startups Should Focus On Their Net Profit Score Not Potential Promoters

InfoChachkie

As crazy as this scenario sounds, it is very similar to the “scoring process” companies engage in when they track Net Promoter Scores. A company''s Net Promoter Score (NPS) is a beloved metric slavishly tracked and reported by product marketing and customer support executives of both established and nascent enterprises.

.Net 100
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Former CEO Of Startup Pleads Guilty To Defrauding Tech Bank

socalTECH

The former CEO of a Southern California communications services company has plead guilty to charges that he fraudulently obtained $5 million in bank loans from one of Southern California's big startup and technology banks. According to the U.S. Lewis was the CEO of Blue Wave Media. Lewis now faces up to 30 years in federal prison.

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j2 Global's Q1 Revenues Rise To $299.9M

socalTECH

Los Angeles-based J2 Global , the owner of such Internet publishing brands as IGN, Mashable, PCMag, Everyday Health, and also cloud services such as eFax, eVoice, KeepItSafe, and Livedrive, reported its quarterly results on Tuesday evening, saying that its quarterly revenues rose to a record of $299.9M. READ MORE>>.

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Report: Using E-scooters Not So Green, Especially If You'd Be Walking Instead

socalTECH

That said, according to those researchers, if an e-scooter is being used to replace a personal automobile--as opposed to transportation modes like walking or riding a bicycle--then there is a net reduction in environmental impact of using those devices. Image: Bird's scooters in Paris READ MORE>>.

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What Should You Do with Your Crappy Little Services Business?

Both Sides of the Table

There’s a line of thinking in Silicon Valley that you should build product businesses rather than services businesses. It’s nearly impossible to get a services company financed by VCs. Why Shouldn’t Most Services Businesses Raise VC? You’re a small fish. That is $12 million in profits over 3 years.

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