Techquity: Google beats Apple to punch, takes on Facebook
Wednesday, May 15, 2013 - 02:28
May 15 - Google comes out with music streaming service before Apple and its own version of Home to challenge the offering from Facebook.
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Radio without rules that's Google selling its new music streaming service called Google playing music all access. The company unveiling offering its developers conference in San Francisco. It's available now in the US and cost 909 a month. But if you joined by June 30 it's only 719. The move puts Google into competition with the likes of pandora and Spotify and get to the streaming is how apple which is reportedly developing its own service. Google's shares topping 900 for the first time ever there up another 2% today. Pandora shares down fractionally -- they had a high earlier in this fashion. Google also going after FaceBook showing off its version of home. The mobile phone app that sits on a Smartphone users home screen the Google version will be available for download through Google play. Face but down about 1% today. Google's entry into music streaming isn't helping apple today. -- the moves by some hedge funds to sell reduce their stakes as disclosed in the thirteen app filings with the SEC -- as of the end of march. Julian Robertson's tiger management dumping its stake while apple is it cut its investment by several 100000 shares. Neither though is in the top 100 -- shareholders of apple. Among the stocks benefiting Groupon and Zynga -- activist hedge fund Jana partners disclosed stakes of 3% in each. Checking the shares of apple down 4% while Groupon is up roughly 2% Zynga up about 3%. And earlier we talked about Spotify in music streaming service. The New York Post reports that's one of the tech startups that venture capital fund a great investment hasn't invested. The fund was co founded by Ashton Kutcher put the paper says was trying to get of 100 million dollar valuation placed on. But actually called a little -- forum. The TV star owns 20% of eighth grade and his soon to be ex wife Demi Moore claims -- under California law she's entitled to half his share which would be about ten million. Other companies the fund is invested and Caribbean -- she is Sam and clipboard to name if you. That's tech would be this Wednesday and remember you can follow us on Twitter at -- are asked equity. I'm Sharon writes and that is Reuters.
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