Shares of Twitter, Inc. (NYSE:TWTR) [Detail Analytic Report] dropped around 3% during Tuesday session after the live video-streaming application of Twitter, Periscope, has appointed an editor in chief, Evan Hansen, who says he aims to showcase best content and assisted develop the platform. Hansen himself revealed his appointment to Periscope, which lets users broadcast live video free of charge from smartphones running Android or Apple iOS software. The videos remain available for 24 hours before disappearing.
The editor in chief of technology news site Wired before he joined Medium, Hansen said he would began on May 16 at Periscope, which previous week boasted that over 200M broadcasts had been created on its platform since it was launched a year ago. In an interview with CNNMoney, Hansen said role would involve developing the site and “surfacing the most interesting content to people most probable to want to see it.” Periscope faces a challenge from Facebook’s Live video streaming feature, which was launched in mid-2015.
A Chinese government probing into Baidu, Inc.’s (NASDAQ:BIDU) [Detail Analytic Report] search business after death of a cancer-stricken college student threatens one of its leading sources of advertising revenue. Health and Internet regulators released a investigate into Chinese online giant’s practices following computer science major Wei Zexi sought out a controversial treatment advertised amid search results. However, procedure failed and 21-year-old penned online releases blaming Baidu before his death, triggering an online furore in a country that’s seen its share of health-related scandals over the years.
An analyst from New Street Research, Kirk Boodry stated that concerted scrutiny might prompt Baidu to pull back from health-care ads, one of its leading sources of income. On this an assistant Professor of Marketing from Cheung Kong Graduate School of Business, Li Yang stated htat this seriously damages brand and he don’t think Baidu is doing well in terms of PR protection because they didn’t respond in a fast and proper way. Even if people change topics in a few days, this negative image of Baidu’s brand will still persist in many people’s minds.
Shares of Yelp Inc. (NYSE:YELP) [Detail Analytic Report] surged on Tuesday following David Einhorn’s Greenlight Capital released a stake in company, according to USAToady. Einhorn, Hedge fund manager decaled in his Q1 letter to investors that he believed Yelp could double its revenue by 2019, as per reported by Reuters. Einhorn said in letter San Francisco-based business review site’s shares had been suffering in part from investor anxiety about an upcoming negative documentary.
That most probably refers to film “Billion Dollar Bully” by Michael Levine. The documentary asserts that businesses are bullied into buying ads on Yelp because of veiled threats that positive reviews about them won’t be posted if they don’t. Greenlight took a 380,000 share position in Yelp in February, according to its filings with the Securities and Exchange Commission.