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San Francisco voters reject anti-Airbnb measure
by Staff Writers
San Francisco (AFP) Nov 4, 2015


Groupon takes fresh hit as new CEO outlines strategy
San Francisco (AFP) Nov 4, 2015 - Take another discount on the stock price: Groupon fell hard on Wednesday as the company's new chief executive laid out his strategy in the face of a weakening sales.

In midday trade, the daily deals group Groupon traded down 27 percent at $2.93 -- after already tumbling some 75 percent over the past two years

Groupon on Tuesday named Rich Williams as its new CEO, replacing co-founder Eric Lefkofsky as the company reported a loss of $27.6 million in the past quarter and offered a weak outlook for the next three months.

Williams said Groupon "will renew our investment in customer acquisition to introduce more new customers to our marketplace and accelerate growth."

He also said the company would streamline international operations "to ensure we are operating as lean and efficiently as possible." And he said Groupon would shift to retail categories "with stronger margins."

Groupon went public in 2011 amid enthusiasm over its model of offering deals on a variety of products and services. But it has been struggling amid consumer fatigue in the "daily deals" category.

In its quarterly results, Groupon said its loss widened to $27.6 million from $21.2 million a year earlier, with revenues essentially flat at $714 million.

Significantly, its revenue outlook for the fourth quarter of between $815 million and $865 million was weaker than expected. Groupon said a factor was the strong dollar, which cuts into revenues earned overseas.

In September, Group said it was cutting some 1,100 jobs over the coming months and ending operations in several markets around the world including Morocco, Panama, the Philippines, Puerto Rico, Taiwan, Thailand and Uruguay.

Groupon is now in 36 countries compared with 45 at its peak. It claims 25.2 million active users.

Williams said Groupon may be further reorganizing its international operations.

"There are primary markets like the UK, France, Germany, Italy, Australia, and others that could benefit from additional investment in marketing because their core marketplaces are healthy enough and our market position is strong enough that we believe we can win long term," he said.

"There are other markets like China, South Korea, India, Taiwan, and others where we have concluded that we either can't win long term or that the investment required to win outsizes the potential return. In those markets, we made the decision to either sell part of the business or exit the country altogether."

San Francisco voters on Tuesday rejected a measure that would have limited short-term housing rentals in their city in what was seen as a referendum on surging startup Airbnb.

Voters rejected "Proposition F" 55 percent against 45 percent, according to results posted by the San Francisco Department of Elections.

The measure would have placed a 75-day limit per year for rentals under 30 days, regardless of whether the property is "hosted" or not -- a significant change in the current law which allows 90 days if the resident is absent, and places no limits on renting a "hosted" spare room.

Airbnb, a San Francisco-based online service allowing property dwellers and owners to rent out a room or entire home for short periods, would have been heavily affected if the law passed.

Housing prices have been surging in recent years in the region around San Francisco and nearby Silicon Valley due to investment in tech startups.

Some former low-income San Francisco neighborhoods have been transformed by the arrival of highly paid tech workers.

According to the real estate website Zillow, the average San Francisco rent in September was $4,390 per month, compared with less than $3,000 five years ago and an average nationwide of $1,386.

Airbnb critics claim that the service unfairly competes with hotels, which face stricter regulations and taxes.

Airbnb has been a major contributor to the "no" campaign, which raised $8 million compared with just $800,000 for the backers, according figures released by the San Francisco Ethics Commission.

Airbnb, launched in 2008, operates in some 34,000 cities around the world and has some 40 million users worldwide.

Dutch firm KPN starts network for 'Internet of Things'
The Hague (AFP) Nov 4, 2015 - Dutch telecoms firm KPN announced Wednesday it had launched in two cities a new wireless technology known as LoRa to wirelessly connect objects, ahead of a country-wide rollout.

"The network is working in Rotterdam and The Hague from today and will come into effect across the rest of the country in stages in 2016," KPN said in a statement.

The network will "allow us to connect to the Internet in an efficient manner millions of devices which only use a small amount of current and data."

The LoRa network, developed to enable low data rate communications as part of the so-called "Internet of Things," is complementary to the 2G, 3G and 4G phone and Internet networks offered by KPN across the Netherlands.

The telecoms firm highlighted such applications as dustbins which can send a message when they need to be emptied, or farmers receiving messages about the health of their cattle.

In France, telecoms firms Bouygues has already launched a similar LoRa network, while its rival Orange plans to do so.


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