Alibaba, China’s largest and fastest growing e-commerce company, filed for a $1 billion IPO, which could make it one of the most valuable tech companies in the world. The company made $6.5 billion and saw a 57 percent increase in revenue in the last nine months of 2013. Alibaba handles more business than any other e-commerce company, with transactions on its three online sites — Taobao, Tmall and Alibaba.com — totaling $248 billion, which is more than eBay and Amazon combined. Continue reading Chinese E-Commerce Company Alibaba Files IPO in the U.S.

Sprint is reportedly meeting with five different banks, including JP Morgan, Goldman Sachs and Deutsche Bank, to expedite its bid for rival T-Mobile. Insiders say that Sprint, which is owned by Japan’s SoftBank, hopes to finance much of T-Mobile’s estimated $50 billion price with corporate bonds. The remaining amount would likely be covered by syndicated loans and convertible bonds. Sprint, which is also working to ease regulatory concerns regarding the deal, is expected to make a formal offer by June or July. Continue reading Sprint in Talks with Banks to Fund Acquisition of T-Mobile

Similar to how business networking site LinkedIn services the needs of recruiters, professionals and job seekers, Technicolor has launched a social network called Creative District that is geared toward media producers and creatives. The platform is designed to help film and media creators collaborate and share resources, and find work and funding. Creative District operates as a startup, while Technicolor serves as the network’s sole investor. Continue reading Creative District: Technicolor Launches Pro Networking Site

Great Britain struck a major deal with Germany at the CeBIT 2014 trade fair to co-develop a 5G Internet service fast enough to download a movie in less than a second. German and British universities will work together on the project. Speaking at the tech summit in Hannover, Germany, British Prime Minister David Cameron said that his country risks being left behind if it does not develop ultra-fast broadband. He also announced a major investment in a grant fund and research and development for the Internet of Things. Continue reading CeBIT 2014: Germany and Britain Plan to Develop 5G Broadband

According to Kickstarter, the crowd-funding site officially passed $1 billion in pledges yesterday. Of the one billion pledged by 5.7 million individuals from 224 countries and territories to help fund creative projects, more than half was pledged in the last 12 months. More than $663 million was pledged by nearly 3.76 million backers in the U.S. alone. Other top countries include the U.K., Canada, Australia, Germany and France. Interestingly, nearly 16,000 people have backed more than 50 projects. Continue reading New Milestone: Kickstarter Passes the $1 Billion Pledge Mark

The world’s most powerful smartwatch will soon be released, and it wasn’t created by Apple or Google, but a 19-year-old college dropout. The Kickstarter-funded product, named Neptune Pine, will be able to ship as soon as it has FCC approval and the Kickstarter funds are delivered for mass production. The project’s video depicts a working prototype with a 2.6-inch frame, front- and rear-facing cameras, and Web browsing, among countless other features. Continue reading Neptune Pine Smartwatch is Just as Capable as a Smartphone