Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:
Google's Gone Wiki [Motley Fool]
Summary: Continuing along its steady acquisition trail, Google announced yesterday that it had acquired JotSpot, a company which provides tools through which people can create wikis for collaborative work online (think Wikipedia). According to JotSpot CEO Joe Kraus, "It was pretty apparent that Google shared our vision for how groups of people can create, manage and share information online." JotSpot already has a formidable customer base consisting largely of business customers as well as individual and family users (a good way to coordinate an evolving menu for your family reunion?). And in opposition to some of Google's other acquisitions (YouTube comes to mind), JotSpot is already close to being profitable -- it provides not only free services but for-pay products as well. Financial details of the deal were not available.
Related links: Google Apps: A Long-Term Threat to Microsoft's Packaged Software Business • Google Apps: Free, User Friendly and Ready to Kick Your Butt • Google + YouTube = Natural Monopoly • Paul Kedrosky's Takeaways From the GooTube Acquisition • Sell-Side Reaction to the Google-YouTube Deal • Google Building New 'Features' - Not Products • Google Acquires Web Applications Pioneer JotSpot • Google Buys JotSpot to Expand Online Document-Sharing Service [ WSJ]
Potentially impacted stocks and ETFs: Yahoo (YHOO), Amazon.com (NASDAQ:AMZN) • First Tr DJ Internet Index (NYSEARCA:FDN)
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