THE NEWS WRAP: GoDaddy raises $US460 million in IPO

Domain registration and website hosting company GoDaddy raised $US460 million ($A605m) today as it listed on the New York Stock Exchange.

 

The company’s stock is currently 30% above the opening price of $US26.15 – resulting in a market cap of $US6.3 billion, according to TechCrunch.

 

GoDaddy is planning to issue 23 million shares at $US20 each. The company has more than 12 million customers worldwide.

America introduces new sanctions on overseas hackers

President Barack Obama has signed an executive order launching new sanctions on perpetrators of cyber-attacks outside of the US, labelling cybercrime a “national emergency”.

 

The sanctions will allow the US government to freeze the assets of individuals or groups launching cyber-attacks on organisations or businesses on American soil, according to Fairfax.

 

The new measures follow the hacking of Sony Pictures Entertainment late last year.

 

Cybercrime is estimated to cost the global economy more than $US400 billion a year.

Twitter is bringing promoted tweets to user profiles

Twitter is bringing advertisements to user profiles as a way to boost revenue.

 

“We’re experimenting with this feature, as we do with all our ad features, in order to create great experiences for our users, advertisers and partners,” a spokesperson told Re/Code.

 

Promoted tweets currently appear in a user’s timeline. Startups and small businesses in Australia have been able to use Twitter’s advertising service since October 2014.

Overnight

The Dow Jones Industrial Average is down 77.94 points, falling 0.44% to 17,698.18. The Aussie dollar is currently trading at around 76 US cents.

 

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