News Corp taps Andreesen’s Loudcloud for internet plans

News Corporation has appointed Loudcloud, the internet start-up launched by Netscape co-founder Marc Andreesen, to develop the infrastructure for its planned international online news operations.

LONDON (Brand Republic) - News Corporation has appointed Loudcloud, the internet start-up launched by Netscape co-founder Marc Andreesen, to develop the infrastructure for its planned international online news operations.

The decision comes just weeks after News Corp shut down its internet division and integrated its websites into their related TV networks.

An official announcement is expected next week, as Loudcloud gets its investor roadshow for its planned IPO under way.

Loudcloud will be the first pure technology IPO since the end of last year, following hesitancy in the market about the hi-tech sector.

Andreesen established Loudcloud in 1999 with the aim of providing a one-stop shop for internet infrastructure.

Loudcloud aims to raise $110m (£75.6m) by selling 10m shares valued at between $10 (£6.87) and $12 (£8.24) a share. This values the company at more than $1bn (£686.8m), despite losses of $50m (£34.3m) in the first half of 2000.



Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
The top 10 brands favoured by Remainers and Brexiters
Shares0
Share

1 The top 10 brands favoured by Remainers and Brexiters

Marketers can learn about our divided nation by examining the brands that appeal across the voting referendum voting split, says Emily James, chief strategy officer at Rainey Kelly Campbell Roalfe/Y&R.

Just published