TechTaffy

tech:

taffy

Renren Working On $100M Share Repurchase Program

By TechTaffy Desk

Renren

Chinese social networking Internet platform Renren has authorized a $100 million share repurchase program.

The company plans to repurchase up to $100 million of its own outstanding American Depositary Shares (ADSs) within one year from June 28, 2013. This program replaces the previous $150 million program that was announced on September 29, 2011 and is close to be completed.

The repurchases may be made on the open market at prevailing market prices pursuant to Rule 10b5-1 and/or Rule 10b-18 plans, in privately negotiated transactions, or in block trades.

[Image courtesy: Renren]

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.