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Facebook opens its books for historic IPO

Facebook filed papers for its initial public offering and in the process provided us with the secrets to its success--as well as what it sees as its greatest threats.

The company filed an S-1 form with the Securities and Exchange Commission, officially declaring its intention to raise $5 billion through the IPO. The last major tech IPO was Google's, which raised $1.9 billion.

Last year, it saw revenue double to $3.7 billion, while its profit grew 65 percent to $1 billion. Over the past two years, its revenue rose nearly fivefold, while its profit more than quadrupled. … Read more

Bail denied again for MegaUpload's Kim DotCom

Kim DotCom, the colorful and controversial founder of cyberlocker service MegaUpload, must remain in police custody for at least three more weeks, a New Zealand court decided today.

DotCom, 38, and a half dozen of MegaUpload's managers are accused in the United States of criminal copyright violations, money laundering, and racketeering. According to the indictment filed against them in Virginia, the government alleges that MegaUpload was a criminal enterprise that banked more than $175 million by helping the masses pirate films, music, software, and videogames.

At the request of the FBI, DotCom and three other MegaUpload employees were arrested … Read more

MegaUpload founder: Police punched and kicked me

Kim DotCom, the flamboyant founder of cyberlocker service MegaUpload, said in a New Zealand court today that he had been the victim of police brutality, according to published reports.

DotCom was arrested on January 19 at his home near Auckland, New Zealand, by more than 70 police officers who swooped in by helicopter and began pounding on the door. DotCom is allegedly the mastermind behind a criminal piracy operation that caused more than $500 million in damages to copyright owners. They assert that MegaUpload's managers pocketed more than $175 million by enabling people across the globe to store and … Read more

Nobody wanted MegaUpload busted more than MPAA

Contrary to recent media reports, the FBI did not arrest MegaUpload founder Kim DotCom after being pressured by managers at the four major record companies, who supposedly feared DotCom would launch an unlicensed music service, sources close to the investigation told CNET.

Numerous film and music industry sources have discussed some of the events that preceded the January 19 raid in New Zealand on DotCom's home. What becomes clear is that two years ago, when the FBI began investigating the cyberlocker service, the film studios were far more intent on taking down MegaUpload than their counterparts at the music … Read more

MegaUpload ripped off YouTube, tried smearing rivals, U.S. says

Kim DotCom and MegaUpload helped fill out the cyberlocker's video library in 2006 by snatching videos from the then-fledgling YouTube, the U.S. government alleges.

The U.S. Justice Department is trying to extradite DotCom and three other MegaUpload managers from New Zealand and have accused them of piracy, money laundering, and racketeering.

Buried in the January 5 indictment against MegaUpload, DotCom, and six other employees of the cyberlocker service, are e-mail communications between two managers, Mathias Ortmann and Bram van der Kolk, from April 2006.

"Do we have a server available to continue downloading of the Youtube'… Read more

Feds: We obtained MegaUpload conversations with search warrant

One of the most curious aspects of the U.S. government's case against MegaUpload is the large number of the company's internal communications acquired by the FBI.

In one exchange, MegaUpload managers fretted via Skype IM chat in 2007 that founder Kim Dotcom wasn't "safe with his money" and "the current situation is a bit risky," according to documents U.S. authorities filed with a New Zealand court this month as part of their criminal pursuit of the embattled cyberlocker service.

While it's still not clear how federal investigators gained access to … Read more

Reprieve: MegaUpload's data safe for two more weeks

MegaUpload users can rest easy about the fate of the digital files they stored at the cyberlocker service.

With MegaUpload disabled by the feds and accused of widespread piracy, and many of its top managers in jail or out on bail, there has been no way for the company to pay Carpathia Hosting and Cogent Communications, the services that host its data. For a while, it looked like those companies would begin deleting user data as early as Thursday.

But managers at both firms have agreed to preserve the material a minimum of two weeks, according to Ira Rothken, MegaUpload'… Read more

MegaUpload data could be erased Thursday, says report

Data from MegaUpload could be erased as early as this Thursday, a report says--a disturbing prospect for those who might have used the recently shut-down cyberlocker for legitimate purposes such as backing up business files.

The Associated Press reports that in a letter filed last Friday in the MegaUpload piracy case, the U.S. Attorney's Office for the Eastern District of Virginia said Carpathia Hosting and Cogent Communications Group--companies MegaUpload hired to store data--may begin deleting that data come Thursday.

MegaUpload's assets have been seized by the government, and its bank accounts have been frozen, Hence, MegaUpload can … Read more

Apple's bittersweet week

Apple's celebration of record earnings was tempered this week by a grim report about working conditions at one of its component suppliers.

Obliterating its own earnings estimates, Apple reported quarterly revenue of $46.33 billion and profits of $13.06 billion.

"We're thrilled with our outstanding results and record-breaking sales of iPhones, iPads, and Macs," Tim Cook, Apple's CEO, said in a statement. "Apple's momentum is incredibly strong, and we have some amazing new products in the pipeline." •  Apple shares soar following historic earnings announcement •  Apple's biggest quarter by the numbersRead more

Did someone park a tank on Kim DotCom's lawn?

Days after police in New Zealand arrested Kim DotCom, the founder of cyberlocker service MegaUpload and accused pirate, journalists were chasing reports that a tank was parked on the front lawn of his Auckland home.

"National Radio (New Zealand) called me about a half hour ago because someone texted to say that there's an army tank on Kim's lawn that is aimed at the front gate," France Komoroske, an attorney and DotCom neighbor, wrote CNET. "They asked me to go take a look."

Now, before we go on, put yourself in the position of … Read more