Here’s the latest action:
Amazon profits climb in the first quarter — The growth was driven by increased business, not cost-cutting. The online retailer’s sales grew 46 percent.
Is Google developing an iPhone app for free turn-by-turn directions? — Google says no.
Google Ventures invests in OpenCandy — The startup, which recommends software to its users, raised a $5 million second round, bringing its total funding to $8.5 million.
Senate may fix anti-angel legislation — We’ve covered complaints that provisions in the finance reform bill being considered by the Senate create unnecessary obstacles for angel investors and aim to “destroy Silicon Valley.” Now the Angel Capital Association says it “understands” that Senator Chris Dodd will introduce amendments that address these concerns.
ARM quashes Apple rumors — Warren East, the head of chip maker ARM, told the Guardian that he’s happy that speculation about an Apple acquisition has pushed up ARM stock prices. But he said:”Our standard business model is an excellent way for technology companies to gain access to our technology. Nobody has to buy the company.”
Ad exchange The Trade Desk gets a new investor – Wider Wake Networks contributed half a million dollars to The Trade Desk’s recent $2.5 million seed round.
Companies: amazon, Apple, Arm, Google, OpenCandy, The Trade Desk
People: Chris Dodd