Monthly Archives: January 2011

Steve Jobs To Take ‘Medical Leave Of Absence’, Stays On As CEO

Tushar Agarwal January 18, 2011

Apple CEO Steve Jobs has just announced that he is taking a medical leave of absence according to a release issued by the company today. Here’s the email memo Jobs sent to Apple employees today.

Team,

At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company. I have asked Tim Cook to be responsible for all of Apple’s day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011. I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy.

Steve

While it’s unclear what the reason is for the medical leave, Jobs’ previous medical history includes Pancreatic cancer as well as a liver transplant. In 2004, Jobs contracted Pancreatic Cancer, which he beat. Then Jobs underwent a liver transplant in 2009, and also made a full recovery. During Jobs’ absence in 2009, COO Tim Cook took over Apple’s day-to-day activities, similar to this situation. We may hear more about Jobs health condition tomorrow, when Apple releases Q4 and 2010 earnings. Clearly Jobs is a survivor; and has fought hard against his medical battles. Hopefully he will conquer this challenge as well.

Details

Groupon Expands Into India, Israel, South Africa

Tushar Agarwal January 12, 2011

Groupon Inc. said Tuesday it has expanded to India, Israel and South Africa by acquiring fellow online-coupon discount sites in those countries.

Closely held Groupon has been rapidly expanding by persuading local businesses to spend money online to attract customers. Its model has caught on in part because merchants don’t pay for marketing until they get a customer in the door.

It entered the new markets by acquiring deal sites SoSasta, Grouper and Twangoo. It didn’t give terms of the deals. The expansion comes as investors of all stripes have sought access to emerging markets, which are seen as being poised for quicker growth than the developed world.

Tuesday’s announcement follows the company saying Monday it completed a $950 million round of funding from backers including Mail.ru Group and venture-capital firm Andreessen Horowitz. The funding came shortly after it reportedly walked away from an acquisition offer from Google Inc. worth as much as $6 billion.

Read more: http://online.wsj.com/article/SB10001424052748703791904576075471994766438.html#ixzz1An2l8UYl

Details