Subscribe to:

Subscribe to :: TheGuruReview.net ::

nVidia NVLINK 2.0 Going In IBM Servers

August 26, 2016 by  
Filed under Computing

0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-nLinkOn Monday, PCWorld reported that the first servers expected to use Nvidia’s second-generation NVLINK 2.0 technology will be arriving sometime next year using IBM’s upcoming Power9 chip family.

IBM launched its Power8 lineup of superscalar symmetric multiprocessors back in August 2013 at the Hot Chips conference, and the first systems became available in August 2014. The announcement was significant because it signaled the beginning of a continuing partnership between IBM and Nvidia to develop GPU-accelerated IBM server systems, beginning with the Tesla K40 GPU.

The result was an HPC “tag-team” where IBM’s Power8 architecture, a 12-core chip with 96MB of embedded memory, would eventually go on to power Nvidia’s next-generation Pascal architecture which debuted in April 2016 at the company’s GPU Technology Conference.

NVLINK, first announced in March 2014, uses a proprietary High-Speed Signaling interconnect (NVHS) developed by Nvidia. The company says NVHS transmits data over a differential pair running at up to 20Gbps, so eight of these differential 20Gbps connections will form a 160Gbps “Sub-Link” that sends data in one direction. Two sub-links—one for each direction—will form a 320Gbps, or 40GB/s bi-directional “Link” that connects processors together in a mesh framework (GPU-to-GPU or GPU-to-CPU).

NVLINK lanes upgrade from 20Gbps to 25Gbps

IBM is projecting its Power9 servers to be available beginning in the middle of 2017, with PCWorld reporting that the new processor lineup will include support for NVLINK 2.0 technology. Each NVLINK lane will communicate at 25Gbps, up from 20Gbps in the first iteration. With eight differential lanes, this translates to a 400Gbps (50GB/s) bi-directional link between CPUs and GPUs, or about 25 percent more performance if the information is correct.

NVLINK 2.0 capable servers arriving next year

Meanwhile, Nvidia has yet to release any NVLINK 2.0-capable GPUs, but a company presentation slide in Korean language suggests that the technology will first appear in Volta GPUs which are also scheduled for release sometime next year. We were originally under the impression that the new GPU architecture would release in 2018, as per Nvidia’s roadmap. But a source hinted last month that Volta would be getting 16nm FinFET treatment and may show up in roughly the same timeframe as AMD’s HBM 2.0-powered Vega sometime in 2017. After all, it is easier for Nvidia to launch sooner if the new architecture is built on the same node as the Pascal lineup.

Still ahead of PCI-Express 4.0

Nvidia claims that PCI-Express 3.0 (32GB/s with x16 bandwidth) significantly limits a GPU’s ability to access a CPU’s memory system and is about “four to five times slower” than its proprietary standard. Even PCI-Express 4.0, releasing later in 2017, is limited to 64GB/s on a slot with x16 bandwidth.

To put this in perspective, Nvidia’s Tesla P100 Accelerator uses four 40GB/s NVLINK ports to connect clusters of GPUs and CPUs, for a total of 160GB/s of bandwidth.

With a generational NVLINK upgrade from 40GB/s to 50GB/s bi-directional links, the company could release a future Volta-based GPU with four 50GB/s NVLINK ports totaling of 200GB/s of bandwidth, well above and beyond the specifications of the new PCI-Express standard.

Courtesy-Fud

Samsung’s Galaxy Note 7 Sales Exceed Supply Chain’s Expectations

August 25, 2016 by  
Filed under Mobile

Galaxy-Note-7-150x150Better-than-expected demand for Samsung Electronics Co Ltd’s new Galaxy Note 7 is creating supply problems worldwide, the South Korean tech giant said, suggesting strong initial sales for the new premium smartphone.

While robust demand could help deliver another solid quarter of earnings, Samsung also risks missing out on potential sales if it cannot boost supply quickly. Rivals such as Apple Inc are poised to launch new phones which could pull customers away from Samsung if a shortage persists.

“As pre-order results for the Galaxy Note 7 have far exceeded our estimates, its release date in some markets has been adjusted,” Samsung told Reuters in a statement without commenting on where launch delays could occur.

Production problems for the curved displays for the Galaxy S6 edge phone resulted in disappointing sales last year, and some investors fear a repeat if the world’s top smartphone maker does not move quickly to meet Note 7 demand.

Samsung said it was trying to boost production at the secret locations where the Notes are made, and aimed to meet demand “as early as possible”. It gave no further details.

A person familiar with the matter told Reuters there was no production issue for the curved screens used on the Galaxy Note 7 and that the shortage would not be a long-term problem.

“The party got more visitors than Samsung expected, so they just need to put more food out,” said Nomura analyst C.W. Chung, who said the supply situation was not a major risk given that Samsung made key parts such as displays and chips in-house.

Samsung could sell as many as 15 million Galaxy Note 7 phones this year, Chung said, compared with an estimated 9 million Galaxy Note 5 phones sold last year.

The phone went on sale on Aug. 19 in countries including the United States and South Korea, where it retails for 988,900 won ($882).

 

U.S. Water Technology Company Xylem To Acquire Sensus

August 16, 2016 by  
Filed under Around The Net

U.S. water technology company Xylem Inc announced that it will acquire Sensus USA Inc, a provider of advanced metering technologies to utilities, for around $1.7 billion in cash.

The acquisition would make Xylem a major player in the market for smart meters, at a time when regulatory requirements and a drive for savings are pushing both companies and consumers to control their water and energy consumption more tightly.

Xylem will finance the deal with about $400 million of its non-U.S. cash, new and existing credit facilities, and a combination of short- and long-term debt, the company said in a statement.

Xylem, which manufactures equipment used in water and wastewater applications, reaffirmed its 2016 earnings forecast and said it expects the deal to add to its adjusted earnings in 2017.

Reuters exclusively reported earlier on Monday that the companies were nearing a deal.

Sensus, based in Raleigh, North Carolina, is a supplier of smart metering and related communications systems to the water, gas, heat and electric utility sectors. Its revenue was $837 in the year ended March 2016.

Xylem said the purchase price was 10.7 times Sensus’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in fiscal 2016. Rye Brook, New York-based Xylem had revenue of $3.7 billion last year.

Sensus is one of the longest held investments in the history of private equity. Buyout firm Jordan Company, in partnership with Goldman Sachs Group Inc’s private equity arm, acquired the company for $650 million in 2003.

Goldman’s private equity business still owns 34 percent of Sensus, with Jordan Company owning the remainder.

Sensus’s financial metrics have steadily improved since bottoming three years ago, driven by stronger end-market demand and comprehensive cost-cutting initiatives, ratings agency Moody’s Investors Service Inc said earlier this year.

New product launches, combined with Sensus’s restructuring efforts, should benefit operating results over the medium term, Moody’s added.

 

 

 

Is Blackberry Turning Into A Patent Troll?

August 11, 2016 by  
Filed under Mobile

Troubled mobile phone maker BlackBerry has decided to make a bit more money by suing those it thinks stole its ideas.

A patent lawsuit has been launched against internet telephony outfit Avaya. However in making its case that Avaya should pay royalties, BlackBerry appears to be looking at what it has done rather than what it is doing. The firm argues that it should be paid for its history of innovation going back nearly 20 years.

The court papers say:

“BlackBerry revolutionised the mobile industry. BlackBerry… has invented a broad array of new technologies that cover everything from enhanced security and cryptographic techniques, to mobile device user interfaces, to communication servers, and many other areas.”

BlackBerry claims Avaya infringes eight US Patents:

Nos. 9,143,801 and 8,964,849, relating to “significance maps” for coding video data;

No. 8,116,739, describing methods of displaying messages;

No. 8,886,212, describing tracking location of mobile devices;

No. 8,688,439, relating to speech decoding and compression;

No. 7,440,561, describing integrating wireless phones into a PBX network;

No. 8,554,218, describing call routing methods; and

No. 7,372,961, a method of generating a cryptographic public key.

The oldest is 1998 and the most recent is 2011..

Products targeted by Blackberry include Avaya’s video conferencing systems, Avaya Communicator for iPad, a product that connects mobile users to IP Office systems, and various IP desk phones. .

The BlackBerry complaint states that the company notified Avaya of its alleged infringement of those specific patents in a letter dated December 17, 2015, which must have come as a bit of a surprise. It has been filed in the Northern District of Texas, which is less because the region is more patent friendly (like East Texas) but because it is where Avaya does business and maintains a two-story office.

BlackBerry has hired top patent lawyer Quinn Emanuel. The firm defended Samsung in the high-profile Apple v. Samsung case and has taken on various cases for Google.

Last year Cisco paid a “license fee” to Blackberry. Details were few and far between but it seems to have been to make Blackberry lawyers go away. In May, BlackBerry CEO John Chen told investors on an earnings call that he was in “patent licensing mode,” eager to monetize his company’s 38,000 patents.

Courtesy-Fud

 

Twitter Still Struggling To Add New User, Grow Revenue

July 28, 2016 by  
Filed under Around The Net

Twitter Inc reported its slowest revenue growth since its IPO in 2013 and set a rather grim forecast, fanning concerns that faster growing social media services will make it a niche product.

The microblogging service operator’s shares fell 11 percent in extended trading to $16.40. While Twitter struggles to find a way to boost user growth and win over advertisers, social media services such as Instagram and Snapchat are expanding their footprints.

Co-founder Jack Dorsey returned to the company as chief executive a year ago, but his plan for reviving Twitter is at best seen as unfinished.

The company’s second quarter revenue missed Wall Street estimates and the revenue forecast for the current quarter of $590 million to $610 million was well below the average analyst estimate of $678.18 million.

Twitter’s user base increased about 1 percent to 313 million average monthly active users in the second quarter from 310 million in the first quarter.

“Clearly, the turnaround is still a work in progress and the question of whether being a platform for a mass audience versus a niche audience needs to be answered,” said James Cakmak, analyst at Monness, Crespi, Hardt & Co.

Earlier this year, Twitter laid out a long-term strategy to turn around its business, focusing on five areas: its core service, live-streaming video, the site’s “creators and influencers,” safety and developers.

In live video, the company has signed deals with Major League Baseball and the National Basketball Association to revive user growth and attract more advertising dollars. Executives also said Twitter was investing more in user safety as the company continues to grapple with high-profile instances of abuse and harassment.

Struggling with flat user growth and lower spending by advertisers, Twitter has doubled down on attracting more people and encouraging existing advertisers to spend more as it tries to shape its stagnating business.

“We are a year into Dorsey coming back and there is really no end in sight of when it is going to start picking up to where investors are going to be happy,” said Patrick Moorhead, analyst at Moor Insights & Strategy.

Twitter is also working to better define its role in the social media landscape. This week it rolled out a video ad that showed it as the place to go for live news, updates and discussion about current events, which executives also emphasized on a call with analysts.

 

Is Samsungs Galaxy S7 Active Really Waterproof?

July 13, 2016 by  
Filed under Mobile

If you look at adverts for Samsung’s new Galaxy you would be forgiven for thinking that the smartphone is waterproof. Unfortunately according to US consumer reports, it isn’t.

The Samsung advert shown in Italy ends with the dramatic placing of a Galaxy into a glass of water. Which looks impressive.

Consumer Reports performs an immersion test when a manufacturer claims that its product is water-resistant and the Galaxy S7 Active failed.

While the phone performed extremely well in other tests. Consumer Reports is refusing to recommend it because the water resistant claim is incorrect.

Samsung says its phone follows an engineering standard called IP68 that covers both dust- and water-resistance, and that the phone is designed to survive immersion in five feet of water for 30 minutes.

Consumer Reports placed a Galaxy S7 Active in a water tank pressurised to 2.12 pounds-per-square-inch, the equivalent of just under five feet of water, and set a timer for 30 minutes. When it removed the phone, the screen was obscured by green lines, and tiny bubbles were visible in the lenses of the front- and rear-facing cameras. The touchscreen was borked.

A second Galaxy S7 Active also failed the same test and neither phone worked properly again.

Samsung says it has received “very few complaints” about this problem, and that in all cases, the phones were covered under warranty. A spokes Samsung sang:

“The Samsung Galaxy S7 active device is one of the most rugged phones to date and is highly resistant to scratches and IP68 certified. There may be an off-chance that a defective device is not as watertight as it should be.”

The company says it is investigating the matter.

Courtesy-Fud

 

Can Licensing Save Blackberry?

June 29, 2016 by  
Filed under Mobile

Blackberry is hoping to pull its nadgers out of the fire by licencing its mobile software to other outfits.

However BlackBerry CEO John Chen had to admit that there has been zero revenue from the endeavour, which he started off last month.

Chen said he’s been in discussions with some phone manufacturers and set-top box operators who have expressed interest and “anything was possible.”

He added he’s not opposed to licensing BlackBerry’s security software either if the right deal comes along. He expects BlackBerry to break even or record a slight profit in its new mobility solutions segment, which includes device and software licensing sales, during the third quarter that in November.

Making the segment profitable this fiscal year is one of the company’s top goals, Chen said.

It’s too soon to project how much revenue the software-licensing venture can garner, Chen said, so to achieve the goal by the end of November, BlackBerry will have to ensure its devices are on track for profitability as well.

The company’s newest phone, the Android-powered Priv, has moved slower than hoped. In fact it moved slower than a student who had been up all night playing counterstrike.

During BlackBerry’s first quarter — the second full quarter to include Priv sales — the smartphone segment generated US$152 million of revenue and had a US$21-million operating loss. Chen promised that loss would be significantly smaller in the next quarter.

The company sold roughly 500,000 devices at an average price of $290 each, he said, which is about 100,000 smartphones fewer than the previous quarter and about 200,000 fewer than two quarters earlier. BlackBerry previously said the company needs to sell about three million phones at an average of $300 each to break even, though Chen indicated that may change as the software licensing business starts to contribute to revenue.

Chen said the Priv has proved unaffordable to most people, except for top-level executives.

The company plans to release two mid-range, Android-powered phones before its current fiscal year ends Feb. 28, 2017, he said. More information on the devices is expected next month, but Chen said one will only have a touch screen rather than BlackBerry’s traditional keyboard.

The company is trying to reach the market in more innovative ways. It’s currently hosting a pop-up shop in New York City, and Chen said he’d consider more of them around the world if the trial is successful.

“I really, really believe that we could make money … out of our device business,” he said during a conference call with analysts Thursday morning.

Chen previously indicated the company will stop making smartphones if the device business remains unprofitable. While he said he doesn’t believe that will be necessary, the software licensing plan could help make the transition smoother if the time comes.

BlackBerry  reported a $670 million net loss in the first quarter of its 2017 financial year, but said its recovery plan for the year remains on track.

Revenue was below analyst estimates at $400 million under generally accepted accounting principles, or US$424 million with certain adjustments.

Courtesy-Fud

 

Google Fiber Acquires Webpass, Increases Urban Coverage

June 24, 2016 by  
Filed under Around The Net

Google Fiber has agreed to purchase Internet service provider Webpass to quickly increase its urban coverage and offer customers a combination of fiber and wireless delivery of high-speed Internet.

For Google Fiber, which has typically worked with cities in planning and building a fiber network from scratch, the acquisition will give the Alphabet business a headstart in many markets, particularly in dense urban areas.

Financial terms of the acquisition were not disclosed. Google did not immediately comment on the acquisition.

Webpass in San Francisco owns and operates its Ethernet network, thus removing its dependence on phone and cable companies. It has operations in San Francisco, Oakland, Emeryville, Berkeley, San Diego, Miami, Miami Beach, Coral Gables, Chicago and Boston. The company offers business connections from 10 to 1,000 Mbps and to residential customers service from 100 Mbps to 1Gbps.

Google is already working in San Francisco, where Webpass also operates, and is negotiating with property owners and managers in buildings near existing fiber infrastructure to explore connecting their residents to gigabit Internet.

Webpass will help to further expand that coverage as it will remain focused on the rapid deployment of high-speed Internet connections for residential and commercial buildings, mainly using point-to-point wireless, Webpass President Charles Barr said in a blog post Wednesday that announced the proposed acquisition.

“Google Fiber’s resources will enable Webpass to grow faster and reach many more customers than we could as a standalone company,” Barr wrote.

 

 

 

BlackBerry Says Device Business Is Top Priority

June 24, 2016 by  
Filed under Mobile

BlackBerry Ltd’s top priority this year is to make its devices business turn a profit, its chief executive said, even as it weighs the future of its hardware operation.

“The device business must be profitable, because we don’t want to run a business that drags onto the bottom line,” Chief Executive John Chen told investors at the company’s annual meeting. “We’ve got to get there this year.”

Chen has previously said a decision would be made by September on the future of the unit, which has suffered a sustained drop in sales in recent quarters.

But at the meeting, attended by around 100 people, he said he sees better opportunity in providing services that enable increasingly commoditized hardware to do more.

“I don’t personally believe handsets will be the future of any company,” he said.

BlackBerry, once the smartphone market leader before being displaced by Apple Inc and competitors run on Alphabet Inc’s Android platform, has worked to reposition itself as a software and service provider focused on device management for large organizations.

In its presentation to investors, the company said it expects the broader market for types of software it is producing to expand to $17.6 billion by 2019, from $525 million in 2012 and below $4 billion in 2015, powered by growth in medical, legal, financial and automotive industries.

But some of those in attendance were skeptical about BlackBerry’s ability to deliver on its strategic pivot.

“The first word that comes to mind is lackluster,” said one shareholder at the meeting who declined to give his name. “Time is running out.”

Chen reiterated that BlackBerry wants to grow its software revenue by 30 percent in this fiscal year, which he estimated would be double overall market growth, and to notch positive free cash flow.

BlackBerry is due to report first quarter results on Thursday.

Chen took up the CEO role in 2013 with a reputation as a turnaround artist. But the company’s stock has only risen modestly since then, with many investors waiting for signs the now-smaller company will be able to carve out new opportunities.

“I appreciate the strategy,” said Ken Tota, an investor in BlackBerry’s biggest shareholder, Fairfax Financial Holdings Ltd. He said he was optimistic a renewed focus on security could help reinvigorate BlackBerry over the next five years.

“It’s a niche, but it’s a worldwide niche,” he said.

 

 

Spotify Says ‘No’ To Sales Rumor

June 10, 2016 by  
Filed under Around The Net

Daniel Ek, co-founder of Swedish music streaming service Spotify which boasts the largest paid subscriber base in the world, said on Thursday he had no intention of selling the company.

While investors believe privately owned Spotify is probably heading for a public listing, some industry analysts see the loss-making company as a takeover target for a larger tech giant with deeper pockets.

“My selfish ambition with Spotify is just trying to show … that we can create one of those super companies here in Europe,” he told journalists at the symposium Brilliant Minds, which aims to bring artists and musicians together with the tech community.

Asked if that meant he was not up for selling the firm, Ek said: “I’m not going to sell, no.”

Spotify, founded in 2006, pays more than 80 percent of its revenue to record labels and artists and has not yet shown a profit as it spends to grow internationally. It competes in a business crowded with formidable rivals such as Apple Music, Google Music and YouTube.

Many other European tech start-ups have been swallowed up by bigger Silicon Valley competitors.

Ek said Silicon Valley got an earlier start in building up its tech giants but that Europe finally has the right conditions to support its own entrepreneurs.

“For the first time now there’s an ecosystem around it with capital and experience that can actually help guide entrepreneurs,” he said.

“The number one advice I tell everyone is ‘don’t sell’, because that’s the biggest problem we have. All these things could grow gigantic if you just kept the course and kept doing what you’re doing,” he added.

Last year Spotify made an operating loss of 184.5 million euros ($205 million), widening from 165.1 million in 2014.

Spotify, whose investors include Northzone, DST Global and Accel, does not disclose details about its ownership but the co-founders no longer own a majority, having sold off stakes.

 

Yahoo Hires Advisors To Help Sale Trove Of Patents

June 9, 2016 by  
Filed under Around The Net

Yahoo Inc  has hired boutique investment bank Black Stone IP LLC to aid in the selling of nearly 3,000 of the internet company’s patents, the Wall Street Journal reported, citing people familiar with the matter.

The company has sent letters to a number of potential buyers for the patents, which date back to when the company was founded in 1996 and also include its original search technology, the report said.

The deadline for bids for the patents has been set for mid-June by Yahoo, according to the Wall Street Journal.

In March, Yahoo said it would explore the sale of $1 billion to $3 billion of patents, property and “non-core assets”.

Yahoo and Black Stone IP were not immediately available for comment.

 

Verizon Reportedly To Submit $3B Bid For Yahoo

June 8, 2016 by  
Filed under Around The Net

Verizon Communications Inc is gearing up to submit a second-round bid of around $3 billion for Yahoo Inc’s core internet business, the Wall Street Journal reported, citing people familiar with the matter.

Private-equity firm TPG was also expected to submit a second round bid for the assets, the newspaper reported.

Reuters reported last month that Verizon had added Bank of America to its roster of investment banks, as it looked to gain an edge over other bidders for Yahoo’s core assets.

Yahoo is expected to hold at least one more round of bidding, and the offers could change by the final round, the paper reported.

Yahoo did not comment on the report, while Verizon declined to comment.

 

In-Home Tech Support Companies HelloTech, Geekatoo Merging

May 24, 2016 by  
Filed under Mobile

Los Angeles-based startup HelloTech and rival in-home tech support company Geekatoo announced that they have merged, in a sign of consolidation in the hotly competitive on-demand sector.

HelloTech will combine its network of about 150 college students who provide on-demand tech repair to Southern California consumers with Geekatoo’s U.S. network of about 5,000 technicians, the companies said in a joint statement.

The merger connects HelloTech with Geekatoo’s national market and provides Geekatoo with more access to venture capital funding, HelloTech co-founder Richard Wolpert said in an interview.

HelloTech, which launched about a year ago, has raised $17 million from investors, while 5-year-old Geekatoo has raised close to $3 million.

“You could either use capital to expand really quickly or you could merge with a company like Geekatoo that had already spent money doing this,” said Mark Suster, managing partner at Upfront Ventures, which backed HelloTech.

The new company keeps the HelloTech name and will be led by Wolpert. He said the deal was a stock transaction, rather than a cash payment, but declined to provide further details.

Both companies dispatch in-home tech support within hours of a request to fix a wonky printer, install a new TV or troubleshoot WiFi problems, among other services.

HelloTech hit a few bumps last year after launching, with some negative customer feedback that its workforce of predominantly college students was unprofessional.

Wolpert said the company has worked out the glitches. HelloTech has a five-star rating on customer review site Yelp.

Geekatoo Executive Chairman Christian Shelton saw demand for tech services rising as more people add internet-connected devices – such as the smart thermostat Nest or WiFi camera Dropcam – to their homes.

The U.S. tech support industry makes about $30 billion in annual revenue, according to research by Parks Associates, a consulting firm.

“The opportunity is massive,” Wolpert said.

The company’s main competition is Geek Squad, a tech support service founded in 1994 and owned by big-box retailer Best Buy.

HelloTech targets baby boomers with disposable income to spend on new gadgets and someone to help get them up and running.

“There is enormous wealth in the baby boomer generation,” Suster said, and their “digital lives are becoming increasingly complicated.”

 

 

Apple Goes Further With Intel

May 20, 2016 by  
Filed under Mobile

Intel has scored a more significant chunk of the upcoming iPhone 7 which is due to be released this year.

Digitimes deep throats claim that Intel will  supply half the modem chips for use in the new iPhones slated for launch in September 2016.

Intel will itself package the modem chips for the upcoming new iPhones, but have contracted Taiwan Semiconductor Manufacturing Company (TSMC) and tester King Yuan Electronics (KYEC) to manufacture the chips, the sources said.

Qualcomm is currently the supplier of LTE modem chips for the iPhone, but Apple has been keep to avoid focusing on one supplier. Still, the figure of half the iPhone 7’s is much more than many expected. It is a pity for Intel that the iPhone 7 is not expected to be a big seller – mostly because there is little new under the bonnet and it looks the same as the iPhone 6S.

Courtesy-Fud

 

Is There A ‘For Sale’ Sign In Pandora Music’s Future?

May 18, 2016 by  
Filed under Consumer Electronics

Corvex Management LP disclosed that it owns 9.9 percent of Pandora Media Inc and urged the internet music streaming company to consider being sold instead of pursuing a “costly and uncertain business plan.”

Corvex, a hedge fund run by Keith Meister, a protégé of billionaire activist investor Carl Icahn, said it had met with the company’s management and had withdrawn a plan to replace some of its board members. However, it now believes Pandora should hire an investment bank to help the company explore its strategic options including a sale.

“We believe there is likely to be significant strategic interest in the company at a substantial premium to the company’s recent stock price,” Corvex said, adding that large internet companies, handset makers and media companies could be potential buyers.

Pandora’s shares are down more than 25 percent in 2016 and more than 45 percent year-over-year. Corvex owns about 22.7 million shares in the company, making the hedge fund Pandora’s largest shareholder.

Pandora said in response that it is in constant dialogue with shareholders and committed to achieving long-term value for them.

“Pandora has a profitable core business, combined with a strong balance sheet. We are confidently investing to fully capture the massive opportunity ahead of us,” the company said in a statement.

Oakland, California-based Pandora has faced tough competition from music-streaming rivals such as Spotify, Apple Inc , Alphabet Inc’s Google and Amazon.com and has failed to turn an annual profit as a public company.

Analysts have said Pandora, which had a market capitalization of $2.29 billion on Monday, could be an acquisition target for larger media or internet companies looking to beef up their online music offerings.

Pandora co-founder Tim Westergren, a former musician who spearheaded Pandora’s music algorithm technology, returned to the company March 28 to become CEO, squashing some investors’ hopes the company could be sold.

Westergren told Reuters on April 15, “If you want to sell a company, you don’t do that by spending half a billion on acquisitions and hiring a new CEO.”

 

 

Next Page »