Starbucks apps account for 26M mobile payments and $110M in card reloads | VentureBeat

The Starbucks brand may be synonymous with pricey lattes, but the coffee conglomerate has pushed a number of mobile initiatives in 2011 to make its name also stand for digital innovation. New numbers released Monday suggest that the strategy is working.

Starbucks has now processed more than 26 million mobile payments since January, Adam Brotman, vice president and general manager of digital ventures at Starbucks, told VentureBeat.

Add to that the fact that more than 6 million of those mobile transactions occurred during the past nine weeks — which is more than double the 3 million transactions the company saw in the first nine weeks post release — and the data shows a growing number of consumers are going wallet-free and opting instead to pay for their daily coffee runs with the Starbucks mobile app.

via Starbucks apps account for 26M mobile payments and $110M in card reloads | VentureBeat.

HomeStreet files for IPO, eyes $165M raise – CBS News

(AP)  LOS ANGELES — Financial services company HomeStreet Inc. is expected to launch an initial public offering as early as this week as it looks to raise capital to meet regulatory requirements.

The Seattle-based company operates community lender HomeStreet Bank and mortgage servicer HomeStreet Capital Corp. It has been operating under an order from federal banking regulators to bolster its balance sheet and reduce troubled assets.

HomeStreet’s IPO had initially been scheduled for August, but the company put it off due to the volatility that gripped the market at the time.

The company plans to offer around 7.2 million shares at between $22 and $24 a share, according to documents filed with the Securities and Exchange Commission on Nov. 3.

Based on the midpoint of that price range, $23 a share, the IPO is expected to raise $165 million. However, HomeStreet said it anticipates that it will receive $149.9 million in net proceeds from the offering after deducting discounts and commissions, assuming underwriters do not exercise their option to sell up to 1.08 million additional shares.

via HomeStreet files for IPO, eyes $165M raise – CBS News.

Meet Nexon, The Company That Invented Zynga’s Business Model And Is Much More Profitable

Nexon, a Korean online games company, just priced its IPO on the Tokoy stock exchange at a valuation around $7.2 billion, making it the biggest IPO of the year.

But that’s not even what’s most interesting about it.

What’s even more interesting is that it basically invented the business model that made Zynga a huge company. (Read our explainer on Zynga’s business here.)

Nexon was the first company to do online, free-to-play games and monetize them using “virtual goods.”

The companies are similar in many ways: similar business model; similar size in terms of revenues and valuation; similarly-timed IPO. And yet, in some key ways, they couldn’t be more different:

Nexon is wildly profitable, with a whopping $260 million in profits on $853 million in revenues for the nine months ended September 30, 2011. Zynga is currently not actually profitable, although it has accounting profits because of weird accounting stuff you can read all about here.

Nexon is older, founded in 1994 and pioneering the virtual goods business model in 1999; it was a slow ramp-up to today. Zynga was founded in 2008 and burst into the scene like a rocketship.

The games are also different, though that is changing: Nexon’s games are much more aimed at hardcore gamers, with lots of depth and complexity. Zynga is the King of casual gaming.

The companies serve different geographies. Nexon does 69% of its business in Asia, though it does an increasing amount in the US. Zynga is dominant in the US and big in Europe, but has its eyes set on Asia.

Given their similar business models and dissimilar profitability, here’s some of the things we can say about both companies and the space:

The main reason that Nexon is profitable and Zynga isn’t appears to be that Zynga is completely dependent on Facebook for distribution and has to give Facebook 30% of its revenue. When Zynga users buy virtual goods on the Facebook platform, they have to pay for them using Facebook credits. Facebook keeps 30% of this spending.

via Meet Nexon, The Company That Invented Zynga’s Business Model And Is Much More Profitable.

Michael Kors IPO Valued At $3.6 Billion

2011 was a red letter year for Michael Kors. The designer celebrated the 30th birthday of his namesake brand (with a giant party, natch), was given the Hollywood treatment with a “20/20” segment, received the amfAR Award of Courage at this year’s star-studded amfAR Inspiration Gala and tied the knot with his longtime partner, Lance Le Pere.

So to cap it all off, this weekend Michael Kors unveiled an initial public offering that values the brand at $3.63 billion.

The New York Times reports that the price range per share was set at $17-19 per share with the intention of selling 41.7 million shares, with the option of an additional 6.3 million shares.

That puts the Kors brand in line to raise at least $750.6 million, which according to Women’s Wear Daily would value the brand higher than luxury brands like Saks Inc. ($1.52 billion) and Salvatore Ferragamo ($2.55 billion) or more mainstream brands like Guess Inc. ($2.62 billion).

In other words, enough to make his doting mama proud.

WWD notes that Michael Kors would be the first IPO of a big American designer in several years, but it seems like there’s never been a better time for the designer from Long Island to make a splash.

via Michael Kors IPO Valued At $3.6 Billion.

Roundy’s files for IPO of up to $230 million | Reuters

(Reuters) – Private equity owned Roundy’s Parent Co Inc filed for a $230 million initial public offering with U.S. regulators on Monday, taking advantage of the thaw in the U.S. IPO market.

Stock market volatility in the wake of the Euro zone debt crisis and fears of a U.S. recession has slowed down IPO activity, but the successful debut of group discount site Groupon (GRPN.O) is luring companies back into the market.

Roundy’s, which operates about 158 grocery stores under the Pick ‘n Save, Rainbow, Copps, Metro Market and Mariano’s Fresh Market retail banners, said it plans to use the proceeds from the offering to pare down debts of over $800 million.

via Roundy’s files for IPO of up to $230 million | Reuters.

Bonanza Creek sees IPO pricing $20-$22 a share – MarketWatch

Bonanza Creek Energy Inc. expects its initial public offering of 14.3 million common shares to price between $20 and $22 each.

The independent oil and gas company registered for an estimated $200 million IPO in June, seeking proceeds to repay debt and to fund exploration and development.

Bonanza Creek’s assets are concentrated in southern Arkansas and Colorado’s Denver Julesburg and North Park Basins. It also owns oil-producing assets in California’s San Joaquin Basin. Oil sales account for the bulk of its top line.

via Bonanza Creek sees IPO pricing $20-$22 a share – MarketWatch.

Hong Kong IPO Market Sees Year-End Resurgence –


HONG KONG—A relief rally in stock markets and the success of three large initial public offerings has sparked a last-minute surge in re-launched deals, with a Chinese sportswear maker and a clean-energy company tapping markets with the sale of new shares.

Asia Today: Finishing the year with a surprising rebound, Hong Kong’s IPO market is back on form. Over in Europe, some in the market see signs of progress as a host of meetings take place this week. WSJ’s Jake Lee and Ken Brown discuss.

Guodian Technology & Environment Group Co., a Chinese clean-energy company, began taking orders Monday for an IPO targeted to raise as much as US$646 million Hong Kong IPO, according to a term sheet.

Companies are flooding to tap funds since Chow Tai Fook Jewellery Group Ltd., controlled by Hong Kong businessman Cheng Yu-tung, decided in late November to kick off a US$2.8 billion deal before the IPO market shuts down for the holidays mid-December

via Hong Kong IPO Market Sees Year-End Resurgence –

Zynga Comp? Biggest IPO In Japan This Year. Nexon Sets Premarket Price for IPO –


TOKYO—Online game developer Nexon Co. said Monday it has set a premarket price of ¥1,300, or $16.68, per share for its initial public offering.

Shares in the company, which was founded in South Korea, will begin trading on the First Section of the Tokyo Stock Exchange on Dec. 14.

The price gives the IPO a total value of ¥97.96 billion, or $1.26 billion, making it the biggest in Japan this year.

Nexon said it will use the raised funds mainly to expand its operations by investing in its server equipment and developing new games, while it will also use the money to pay royalties for the use of content suppliers’ intellectual property.

Nexon offers free online games that make money through the sale of items such as uniforms and weapons that let players customize their game avatars.

via Nexon Sets Premarket Price for IPO –

Green Bay Packers stock sale starts Tuesday –

Owning an NFL team is a pretty difficult thing to pull off. In fact, only the Green Bay Packers represent a chance for members of the public to invest some of their hard-earned money into an NFL team, and even they only have a limited number of shares.

But here’s some good news — starting on Tuesday, the Packers will kick off their fifth-ever stock offering and make 250,000 shares available to the public at the low cost of $250 a share.

“We appreciate the interest that fans have expressed in our fifth stock offering,” Packers President and CEO Mark Murphy said in a statement released by the team. “We are not yet in a position to fully discuss the offering, however, this information will answer some of the initial questions that we’ve received.”

The details Murphy and the Packers did offer include: only US citizens can purchase shares (with the exception of people who live in New Hampshire, who may not); up to 200 shares may be purchased by each individual or spousal pairing; shares can be purchased online with credit and debit cards, or via mail; the 200-share limit includes any shares purchased during the last offering in 1997-98.

Additionally, you can’t transfer the stock, you shouldn’t buy the stock hoping that the Packers win another Lombardi Trophy and you make a profit, and each piece of stock isn’t worth $250 if you want to sell it back to the Packers.

Also, be aware that there are currently 4,750,397 shares owned by 112,158 shareholders, so you probably won’t have much say in whether James Starks gets more carries than Ryan Grant the rest of the year.

via Green Bay Packers stock sale starts Tuesday –

SAP acquires SuccessFactors for $3.4 billion | VentureBeat

SAP has announced plans to acquire cloud-based business software provider SuccessFactors for $40 per share, a 52 percent premium over the company’s closing price of $26.25 on December 2. The deal is worth $3.4 billion.

SuccessFactors provides online tools for managing employee performance, including performance management, setting goals and managing to them, setting compensation accordingly, and training. Its stated mission is to make each customers “a more meritocratic place to work, where promotion and pay is based on performance and not politics.”

By acquiring SuccessFactors, SAP — a giant in legacy enterprise software — is making a big move to establish a presence in cloud services. It will have major challenges integrating SuccessFactors into its complex array of enterprise offerings, however.

via SAP acquires SuccessFactors for $3.4 billion | VentureBeat.