THE NEWS WRAP: Swell deal might see Apple ready to shell out $30 million
Apple is close to buying talk radio app Swell, sources have told Re/code.
According to the report, the deal is said to be worth around $30 million.
Swell had raised $7.2 million from investors including DFJ, Google Ventures and InterWest Partners.
Its iOS app compiled various podcasts and shows and stitched them into personalized streams.
As part of the deal, the Swell app will be shut down this week.
Microsoft offices in China under investigation
Chinese business authorities are investigating Microsoft, reportedly focusing on antitrust behaviour, according to the South China Morning Post.
Investigators from the State Administration for Industry and Commerce made unannounced visits to Microsoft’s offices in Beijing, Shanghai, Guangzhou and Chengdu.
Microsoft spokesperson Joan Li confirmed to the South China Morning Post that the company was being investigated and says it will “actively cooperate” with the government, though she did not specify what the investigation was about.
Zillow to buy Trulia
After competing in the online real estate listings market for the past nine years, Zillow and Trulia are set to combine forces.
Zillow has agreed to buy Trulia for about $3.5 billion in stock, The New York Times reports.
The takeover bid is worth $70.53 per Trulia share, a premium of roughly 25%.
Together the two sites dominate traffic for online home listings in the US, last month combining to account for 61% of total internet users for the category.
The Dow Jones Industrial Average is up 22.02 to 16,982.59. The Australian dollar is currently trading at US94 cents.