NEW YORK (AP) — Thomas Sohmers, 17, of Hudson, Mass., has been working at a research lab at the Massachusetts Institute of Technology since he was 13, developing projects ranging from augmented reality eyewear to laser communications systems. This spring, his mom, Penny Mills, let him drop out of 11th grade. She says she "could see how much of the work he was doing at school wasn't relevant to what he wanted to learn."
SAN FRANCISCO (AP) — After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr in a risky acquisition that revolves around the vision and instincts of a 26-year-old entrepreneur who dropped out of high school to pursue his dream of bringing more beauty and creativity to the Internet.
Yahoo Inc. lured Marissa Mayer from Google in July to become its fifth CEO in as many years. Her task: Help the Internet pioneer regain its stature after years in a financial funk. In her 10 months leading the company, she has overseen a redesign of Yahoo services and orchestrated several acquisitions, including a deal to buy online blogging forum Tumblr for $1.1 billion.
NEW YORK (AP) — As a teenager, Tumblr CEO David Karp would canvass the streets of New York City's Upper West Side, offering to build websites for local businesses. After his freshman year of high school, the precocious, computer-savvy kid decided to drop out altogether to devote more time to his passion for technology.
WASHINGTON (AP) — Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found.
NEW YORK (AP) — Fresh on the heels of its $1.1 billion acquisition of Tumblr, Yahoo says it is rebooting its languishing photo-sharing site Flickr with plans to make it "awesome" again.
BOISE, Idaho (AP) — An Internet entrepreneur and former Wall Street derivatives analyst contends central Idaho's Sun Valley resort and the Twitter Inc. social media site heisted his handle.
FREMONT, Calif. (AP) — In a busy factory, machinists move sheets of aluminum roll in the back door to be molded, stamped, twisted and notched into high-tech electric cars that sell for more than $60,000 each.
NEW YORK (AP) — Rival online takeout services Seamless North America and GrubHub on Monday announced plans to combine and create a new company covering more than 20,000 restaurants in 500 cities across the U.S.
Private equity firm Blackstone Group LP, along with Pactera's CEO and other managers, have offered to take Pactera private in a deal that values the Chinese technology consulting and outsourcing firm at $680.4 million.