Posts Tagged ‘investors’

Aviary Photo Editor Raises $6M Towards Further Improvement and Growth

When Picnik bit the dust several months back, it handed the web-editor baton, in large part, over the the Aviary photo editor. Since then Aviary has been running on all cylinders making consistent improvements and otherwise trying to get you to forget about that one Pic-something editor — and it doesn’t look like the company will be stopping any time soon. Having launched full-blown Android and iOS apps less than two weeks ago, Aviary has now secured $6-million in capital from several different investors, including Amazon’s Jeff Bezos. Read more…

Kodak Stock Dives to 38-Year Low After the Company Borrows $160 Million

Yesterday Kodak’s stock fell 64 cents, or 26.9%, to close at $1.74 — the lowest the stock price has been in 38 years. Investors were reacting to news that the company (which hasn’t netted a profit since 2007) had taken out a new $160 million loan. The plummeting value of the company is bad news for the photography pioneer but good news for companies that might be interested in buying it — a list that is rumored to include Google and Microsoft.

Kodak shares hit 38-year low on borrowing concerns [Reuters]


Update: Reader Christian Rudman points out that the reason for the loan wasn’t because Kodak’s cash reserves had run out. They last reported having nearly $1 billion on hand on June 30th.