Today in Tech: R.I.P. Flip cam, Flock and Download Squad
A curated selection of the day’s most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you everyday.
- It’s official: The Flip digital cam is dead. (Long live, Flip.) Cisco, which bought the startup behind the product line for $590 million back in 2009, will close down the business and lay off all 550 staffers as part of a restructuring of its consumer electronics division. The move comes despite the fact that the Flip remained the leading consumer video camera company. (All Things Digital)
- But things didn’t end there… Flock, which made a splash back in 2005 with a web browser that aggregated social networks and media, also got the boot. The team behind it was actually acquired by Zynga back in January, though the casual game maker was not involved in the product’s quiet death. (TechCrunch)
- And last but not least, software-focused blog Download Squad and general tech site Switched became the latest digital brands to get shuttered by AOL post-Huffington Post acquisition. (Download Squad and Switched)
- TechCrunch supposedly got its hands on the MySpace pitch book News Corp. is floating around to potential buyers of the social network-turned-entertainment hub. According to the tech blog, MySpace’s revenues for fiscal year 2011 will be just $109 million, while expenses will come in around $274 million, resulting in a $165 million loss. Moving forward, the company expects sales to decrease further to $84 million (albeit with $15 million in earnings) in 2012, then climb back up to $101 million in 2013 and $119 million in 2014. For all that to happen, however, TechCrunch says layoffs are likely. (TechCrunch)
- Apple products manufacturer Foxconn Technology Group may invest $12 billion in Brazil towards expanding its operations outside of the southern Chinese city of Shenzhen. (Reuters)
- Will location-based check-ins, one of the latest tech trends pioneered by services like Foursquare, Gowalla, and Loopt, die off this year? One user over at ReadWriteWeb seems to think so. Hear him (or her) out. (ReadWriteWeb)
- T-Mobile is offering an unlimited voice, text and data plan starting at $59.99, but the deal comes with a catch: use more than 2 GB of data, and the wireless carrier will slow down the connection speed until the next billing cycle. (Silicon Alley Insider)
- Online social game maker Tiny Speck, headed by Flickr co-founder Stewart Butterfield, just raised $10.7 million from Andreesen Horowitz and Accel Partners. (VentureBeat)
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