Tumblr’s 26-Year-Old Founder Celebrates $1.1 Billion Deal

Karp, who will remain CEO at Tumblr, is getting $253 million in cash from the transaction, according to PrivCo, a New York-based research firm specializing in closely held companies.

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Tumblr Inc. Chief Executive Officer David Karp, a 26-year-old who started the company in 2007, signed a note announcing Yahoo! Inc. (YHOO)’s $1.1 billion acquisition with the closing, “F--- yeah.”

Beyond just expressing elation, Karp was making a statement that the New York-based company will retain its distinctive and irreverent character under a new owner. The phrase is common parlance at the social-media upstart, used in the titles of some of its most popular blogs. In its own statement on the deal, Yahoo echoed the idea of giving Karp and Tumblr a wide berth, saying it “promises not to screw it up.”

“Our headquarters isn’t moving. Our team isn’t changing. Our road map isn’t changing,” Karp said. “Our mission -- to empower creators to make their best work and get it in front of the audience they deserve -- certainly isn’t changing.”

Karp, who will remain CEO at Tumblr, is getting $253 million in cash from the transaction, according to PrivCo, a New York-based research firm specializing in closely held companies.

For Yahoo CEO Marissa Mayer, the purchase adds a service with more than 13 billion monthly page views and brings more young entrepreneurs into the fold. Yahoo bought Summly, the developer of a news-reading application, for $30 million in March, a person familiar with the transaction said at the time. That deal made 17-year-old founder Nick D’Aloisio a millionaire.

Ad Strategy

Karp received his payday after taking pains not to emphasize revenue at Tumblr, a network of more than 108 million blogs. The company, popular among teens and 20-somethings, only started accepting advertising last year. Karp told the Los Angeles Times in 2010 that he was opposed to Web advertising, saying “it really turns our stomachs.”

Tumblr ultimately adopted an approach to advertising that lets users pay money to make their posts more prominent on the site. The company expanded the program to the mobile version of its service, a bid to get closer to profitability. The company had about $13 million in 2012 revenue, according to PrivCo.

For now, the company hasn’t been able to break even. That made the Yahoo deal more compelling, even though Tumblr didn’t expect to sell out so soon, Karp said in an interview.

‘Our Providence’

“We are not cash-flow positive yet, which means we are always running out of money,” he said. “There was no expectation we were selling the company -- certainly not this year. This was our providence.”

Karp has emphasized user experience, more than gaining market share, money or press coverage, said Bijan Sabet, a general partner at Spark Capital who sits on Tumblr’s board. The founder is meticulous with anything that affects users -- including personally editing the company’s terms of service so readers aren’t forced to decipher legal jargon, Sabet said.

Tumblr’s backers include Union Square Ventures and Spark Capital, which led the startup’s first two financings -- a $775,000 round in 2007 and a $4.5 million round the next year. Sequoia Capital joined as an investor in late 2010 as part of a $30 million funding round. Tumblr then raised $85 million the following year, with firms including Greylock Partners, Insight Venture Partners, and Draper Fisher Jurvetson’s Growth Fund joining the existing investors.

UrbanBaby Money

Karp founded the company using money and experience he had acquired as a software consultant for the website UrbanBaby. The CEO grew up on Manhattan’s Upper West Side and dropped out of Bronx High School of Science before moving by himself to Tokyo when he was 17. He founded Tumblr after returning to New York and learning computer programming. He still hasn’t earned his high school diploma.

Karp updates his own Tumblr with quotations, photos, animated GIFs and snippets of conversations with girlfriend Rachel Eakley. He lives a minimalist existence in an apartment in Williamsburg, Brooklyn, Sabet said.

“It’s this beautiful one-bedroom loft, beautifully designed, but it’s not this megamansion thing,” Sabet said.

The company, which provides the building blocks for popular blogs like Reasons My Son is Crying and Food on My Dog, has been expanding to new floors of its headquarters in New York’s startup-friendly Flatiron District. The offices are adorned with eclectic artwork, with beer on tap.

Users’ Ire

In accepting a takeover from Yahoo -- a company that thrived in the initial dot-com boom only to lose ground to Facebook Inc. and Google Inc. in the social-media era -- Karp risks alienating some users. After reports of the deal broke over the weekend, the number of Tumblr posts switching to WordPress, another platform, surged to 72,000 per hour on Sunday night. That compared with the usual 400 to 600 an hour, founder Matt Mullenweg said in a post. Still, he doesn’t expect an exodus from Tumblr.

One user responded to the situation by creating a Tumblr spotlighting outrage about the Yahoo deal. The blog, “Meltdowns About Yahoo Buying Tumblr,” includes reactions such as, “This is like going out to see a movie, and when I come back my entire family has been sold into the slave industry.”

In his negotiations with Yahoo, Karp said he asked for as much stock as the company would give him. He sees that as a sign he’ll stay with Tumblr for years to come.

“This is something I’ve been building for the last seven years and hope employs me 30 years from now,” he said.

To contact the reporters on this story: Sarah Frier in New York at sfrier1@bloomberg.net; Douglas MacMillan in San Francisco at dmacmillan3@bloomberg.net

Yahoo buying Tumblr for $1.1 billion, vows not to screw it up

SAN FRANCISCO/NEW YORK (Reuters) - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand.

The deal, announced on Monday, is a bold bet by Yahoo Chief Executive Marissa Mayer to revitalize the company by co-opting a Web property with strong visitor traffic but little revenue.

The combination of Yahoo and Tumblr creates an online powerhouse with roughly one billion users, which will draw in more advertisers and help Yahoo keep visitors on its properties for longer periods of time, Mayer told Reuters in an interview.

"Tumblr in terms of users and traffic is an immediate growth story for us," she said.

Analysts say Yahoo appeared to be overpaying for a business that has never posted a profit, makes a fraction of Yahoo's sales, and may not contribute significantly to revenue for years. But the company, rebuffed by the French government when it tried to pay $1 billion for video site Dailymotion earlier this year, had to do something to plug a hole in its social media efforts.

Yahoo made clear it was sensitive to concerns that it might damage Tumblr by making it less irreverent or more corporate.

"Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business," Yahoo said in a statement.

The deal will make Tumblr founder and CEO David Karp, 26, a multimillionaire.

Tumblr is one of the Web's most popular hubs of so-called user-generated content, drawing young people who use the platform to post pictures and text. It has more than 100 million blogs in its network, ranging from "White Men Wearing Google Glass" - a collection of photos poking fun at the early adopters of the wearable computing devices - to housing-focused "The Worst Room."

Though Yahoo remains one of the Web's most popular destinations, it has seen its revenue shrink in recent years as consumers and advertisers favor rivals such as Google Inc and Facebook Inc. The deal is expected to increase Yahoo's audience by 50 percent.

The acquisition, which will use up about a fifth of Yahoo's $5.4 billion in cash and marketable securities, is the largest by far since Mayer took the reins in July with the goal of reversing a long decline in Yahoo's business and Web traffic.

RBC Capital Markets analyst Mark Mahaney called it a "long-shot/long-term investment" but one that fits into Mayer's turnaround strategy.

"(Yahoo's) fundamentals have been subpar for numerous years, in part because of the company's missing presence in Social and Mobile. Tumblr may help (Yahoo) develop that presence," Mahaney said in a note.

RICH PREMIUM

While Tumblr is certainly popular - it has tens of millions of monthly unique visitors in the U.S. - analysts questioned what kind of contribution it will make to Yahoo revenue, since advertising on the site is in its nascent stages.

Media reports have pegged Tumblr's 2012 revenue at $13 million. The privately held company, based in Manhattan, does not disclose its financial results.

Yahoo expects that Tumblr will help boost revenue by 2014, Ken Goldman, Yahoo's chief financial officer, said on a call with analysts. He did not provide specific numbers.

"Even if revenue was $100 million, it means Yahoo paid 10 times revenue," said BGC Financial analyst Colin Gillis. "Ten times is what you pay to date the belle of the ball. It's on the outer bands of M&A."

Yahoo could quickly boost Tumblr's revenue by combining the website with its own sales force, said Pivotal Research Group analyst Brian Wieser. But loading Tumblr up with banner ads risks alienating its users and probably wouldn't provide a significant lift to Yahoo's overall revenue, he said.

"It's not clear that this deal will be favorable from a return-on-capital perspective," Wieser said. "One billion (dollars) for one company is a big bet."

Gillis and Wieser were contacted on Sunday after the deal was reported by the online publication All Things D.

Mayer, on the conference call, described the Tumblr deal as an exception and said Yahoo was not necessarily planning lots of similarly sized deals.

Yahoo is one of several companies that have coughed up considerable money for buzz-worthy start-ups that hold promise. Facebook bought the popular social media photo site Instagram for $1 billion last year. In 2006, Google paid $1.6 billion for YouTube.

Yahoo's track record in acquisitions is patchy. Its $3 billion-plus purchase of Geocities - a free service that hosted personal home pages for consumers and once ranked among the most-trafficked websites - stands among the most glaring of its failed deals. Yahoo shut down the service in 2009.

"It's not lost on me that there were some large acquisitions done in Yahoo's history that did not go well," Mayer said in the interview with Reuters. She said Yahoo now has a completely different management team, committed to making the Tumblr deal work.

The Tumblr team will remain in New York, Mayer noted, partly because she believes the most successful deals in the Internet industry, such as Google's YouTube acquisition, have thrived by letting the acquired company operate somewhat independently.

Shares of Yahoo were up 27 cents, or 1 percent, at $26.78 in afternoon trading. Through Friday's close, the shares had risen 70 percent since Mayer became CEO.

IMAGE ISSUES

One question Yahoo may have to address is Tumblr's reputation as a home for pornographic blogs. At one point in 2009, about 80 percent of Tumblr's top sites had something to do with adult content. Today that number is closer to 5 percent, according to Quantcast data, but the old image lingers.

Mayer, on the conference call, brushed off concerns that Tumblr has content that might not appeal to advertisers, saying the ability to reach more people is "really exciting." She said Yahoo's targeting tools would allow advertisers to zero in on specific demographics and content.

One area where Yahoo plans to ramp up advertising: Tumblr's dashboard, the main landing point, akin to a newsfeed.

Dealing with that and other issues may fall to Karp, who founded Tumblr in 2007 and will remain CEO.

Karp, a self-taught programmer who left high school in favor of home schooling, did not take part in Mayer's conference call. Media reports have suggested his take in the sale of Tumblr would top $200 million.

In a 2012 interview with The Guardian, Karp seemed to be less interested in money than in Tumblr's prominence.

"There are a lot of rich people in the world. There are very few people who have the privilege of getting to invent things that billions of people use," he said.

(Reporting by Jennifer Saba in New York and Alexei Oreskovic in San Francisco; Writing by Ben Berkowitz and Edwin Chan, editing by John Wallace)

Obama to tour Senegal, South Africa and Tanzania in June

US President Barack Obama will visit Senegal, South Africa and Tanzania in June, the White House has said.

Mr. Obama is expected to meet lawmakers as well as business and civil society leaders and youth on his trip.

The 26 June - 3 July visit will be Mr Obama's second to sub-Saharan Africa as president. He spent less than a day in Ghana in 2009.

Former Presidents Bill Clinton and George W Bush both visited Africa during their second terms in office.

Mr Clinton visited six countries while Mr Bush went to five.

"The president will reinforce the importance that the United States places on our deep and growing ties with countries in sub-Saharan Africa, including through expanding economic growth, investment, and trade; strengthening democratic institutions; and investing in the next generation of African leaders," the White House said in a statement.

"The trip will underscore the president's commitment to broadening and deepening cooperation between the United States and the people of sub-Saharan Africa to advance regional and global peace and prosperity."

Analysts say such trips are common for US presidents after they are relieved of the pressure of domestic campaigning.

Meanwhile, a developing threat of Islamist militants in the west African country of Mali has raised the region's profile in Washington.

First Lady Michelle Obama is due to accompany Mr Obama on his trip.

Boko Haram offensive: Military deploy more troops in Adamawa

In its efforts towards ensuring that the onslaught against the Boko Haram insurgency is sustained, the Military had on Monday deployed 200 troops to Yola, Adamawa State.

The state and two other North-eastern states – Borno and Yobe were slammed with of a state of emergency by President Goodluck Jonathan on May 14.

Addressing the troops at the headquarters of the 23 Armoured Brigade in Yola, the Brigade

Commander, Brigadier General Fatai Alli, urged the soldiers to adhere to all necessary rules of engagement in their assignment.

Alli said necessary areas for deployment in the state had been identified for action and that more troops were on their way to join those on ground.

He appealed to members of the public to accord maximum support and corporation to the troops to facilitate the successful execution of their assignment.

The commander further commended the support and corporation shown by the public in the state since the emergency rule took effect, urging them to sustain the relationship.

Police identify four bodies in SCOAN stampede

The Police have identified the bodies of four members of Nigerian Prophet T.B Joshua’s Synagogue Church of All Nations (SCOAN) on the Spintex road who died in a stampede during last Sunday’s service. 

The tragic incident occurred after a stampede ensued at the church, Sunday, when reports emerged there will be free distribution of ‘holy water’. Thirty others were injured in the mayhem.

Accra Police Public Relations Officer DSP Freeman Tettey told Joy News family members should contact the Airport Police to claim the bodies of their relatives. 

“This is a special appeal to the families and the general public”, DSP Freeman Tettey said

Bill Gates Retakes World’s Richest Title From Carlos Slim

Bill Gates became the world's richest person today, the first time he has held the title since 2007. His fortune was valued at $72.7 billion at 4 p.m. in New York, according to the Bloomberg Billionaires Index.

Gates, 57, was more than $550 million ahead of Carlos Slim, who has a $72.1 billion net worth. The co-founder of Redmond, Washington-based Microsoft Corp. (MSFT) has seen his fortune climb about $10 billion this year. The software maker's shares hit a five-year high today, and have advanced 28 percent year-to-date.

Slim's fortune has dropped more than $2 billion this year as Mexico's Congress passed a bill to quash the market dominance of the 73-year-old billionaire's America Movil SAB. 


“When they’re talking about reform in a country that’s generally poor, and the guy shows up No. 1 on the list -- not a good thing,” said Greg Lesko, managing director at New York-based Deltec Asset Management LLC, which oversees $750 million and has an “underweight” position in Slim’s flagship company. “He’s had a pretty good monopoly situation in Mexico, and the Mexican cellphone user has been paying more than he should. We applaud it for the country.”

Earlier this month, a group of kazoo-playing protesters confronted Slim when he appeared at an event at the New York Public Library, denouncing him for overcharging consumers to enrich him. He denies the accusation.

Cascade Investment

The bill passed by Mexico’s Congress last month, which is backed by President Enrique Pena Nieto and is now before state legislatures, would allow regulators to break up phone companies with more than 50 percent of the market or force them to share their networks. America Movil (AMXL) has 70 percent of Mexico’s mobile-phone subscribers and 80 percent of the country’s landlines.

Gates’s fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co. and waste-collection company Republic Services Inc (RSG).

Most of Gates’s fortune is held through Cascade Investment LLC, a holding entity through which he owns stakes in more than a dozen publicly traded companies and several closely held operations, including Four Seasons hotels and Corbis Corp. Less than a quarter of Gates’s fortune is held in Microsoft. He’s donated $28 billion to the Bill & Melinda Gates Foundation.

Bridgitt Arnold, a spokeswoman for Gates, didn’t immediately return a phone call seeking comment. Arturo Elias, Slim’s spokesman, didn’t immediately return phone and e-mail messages.

To contact the reporters on this story: Alex Cuadros in Sao Paulo at acuadros@bloomberg.net; Crayton Harrison in New York at tharrison5@bloomberg.net

To contact the editor responsible for this story: Matthew G. Miller at mmiller144@bloomberg.net

Your Basic Guide to Internet (II)

The last time I started a discussion on internet familiarization. Don’t get me wrong…I never said you don’t know, or never heard about those things, only that I just felt you might want to brush your idea about these things, or you might need to quickly be reminded of them and this would just be right there for you. But more importantly, for those internet users who only hears internet terminologies but has never got time to really know the meaning. No knowledge is a waste, so they say.

Buddies, let's ride on….

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E-MAIL

Electronic mail, or e-mail, allows computer users locally and worldwide to exchange messages. Each user of e-mail has a mailbox address to which messages are sent. Messages sent through e-mail can arrive within a matter of seconds.

A powerful aspect of e-mail is the option to send electronic files to a person's e-mail address. Non-ASCII files, known as binary files, may be attached to e-mail messages. These files are referred to as MIME attachments. MIME stands for Multimedia Internet Mail Extension, and was developed to help e-mail software handle a variety of file types. For example, a document created in Microsoft Word can be attached to an e-mail message and retrieved by the recipient with the appropriate e-mail program. Many e-mail programs, including Eudora, Netscape Messenger, and Microsoft Outlook, offer the ability to read files written in HTML, which is itself a MIME type.

TELNET

Telnet is a program that allows you to log into computers on the Internet and use online databases, library catalogs, chat services, and more. There are no graphics in Telnet sessions, just text. To Telnet to a computer, you must know its address. This can consist of words (locis.loc.gov) or numbers (140.147.254.3). Some services require you to connect to a specific port on the remote computer. In this case, type the port number after the Internet address. Example: telnet nri.reston.va.us 185.

Telnet is available on the World Wide Web. Probably the most common Web-based resources available through Telnet have been library catalogs, though most catalogs have since migrated to the Web. A link to a Telnet resource may look like any other link, but it will launch a Telnet session to make the connection. A Telnet program must be installed on your local computer and configured to your Web browser in order to work.

With the increasing popularity of the Web, Telnet has become less frequently used as a means of access to information on the Internet.

FTP

FTP stands for File Transfer Protocol. This is both a program and the method used to transfer files between computers. Anonymous FTP is an option that allows users to transfer files from thousands of host computers on the Internet to their personal computer account. FTP sites contain books, articles, software, games, images, sounds, multimedia, course work, data sets, and more.

If your computer is directly connected to the Internet via an Ethernet cable, you can use one of several PC software programs, such as WS_FTP for Windows, to conduct a file transfer.

FTP transfers can be performed on the World Wide Web without the need for special software. In this case, the Web browser will suffice. Whenever you download software from a Web site to your local machine, you are using FTP. You can also retrieve FTP files via search engines such as FtpFind, located at /http://www.ftpfind.com/. This option is easiest because you do not need to know FTP program commands.

E-MAIL DISCUSSION GROUPS

One of the benefits of the Internet is the opportunity it offers to people worldwide to communicate via e-mail. The Internet is home to a large community of individuals who carry out active discussions organized around topic-oriented forums distributed by e-mail. These are administered by software programs. Probably the most common program is the listserv.

A great variety of topics are covered by listservs, many of them academic in nature. When you subscribe to a listserv, messages from other subscribers are automatically sent to your electronic mailbox. You subscribe to a listserv by sending an e-mail message to a computer program called a listserver. Listservers are located on computer networks throughout the world. This program handles subscription information and distributes messages to and from subscribers. You must have a e-mail account to participate in a listserv discussion group. Visit Tile.net at /http://tile.net/ to see an example of a site that offers a searchablecollection of e-mail discussion groups.

Majordomo and Listproc are two other programs that administer e-mail discussion groups. The commands for subscribing to and managing your list memberships are similar to those of listserv.

USENET NEWS

Usenet News is a global electronic bulletin board system in which millions of computer users exchange information on a vast range of topics. The major difference between Usenet News and e-mail discussion groups is the fact that Usenet messages are stored on central computers, and users must connect to these computers to read or download the messages posted to these groups. This is distinct from e-mail distribution, in which messages arrive in the electronic mailboxes of each list member.

Usenet itself is a set of machines that exchanges messages, or articles, from Usenet discussion forums, called newsgroups. Usenet administrators control their own sites, and decide which (if any) newsgroups to sponsor and which remote newsgroups to allow into the system.

There are thousands of Usenet newsgroups in existence. While many are academic in nature, numerous newsgroups are organized around recreational topics. Much serious computer-related work takes place in Usenet discussions. A small number of e-mail discussion groups also exist as Usenet newsgroups.

The Usenet newsfeed can be read by a variety of newsreader software programs. For example, the Netscape suite comes with a newsreader program called Messenger. Newsreaders are also available as standalone products.

FAQ, RFC, FYI

FAQ stands for Frequently Asked Questions. These are periodic postings to Usenet newsgroups that contain a wealth of information related to the topic of the newsgroup. Many FAQs are quite extensive. FAQs are available by subscribing to individual Usenet newsgroups. A Web-based collection of FAQ resources has been collected by The Internet FAQ Consortium and is available at /http://www.faqs.org/.

RFC stands for Request for Comments. These are documents created by and distributed to the Internet community to help define the nuts and bolts of the Internet. They contain both technical specifications and general information.

FYI stands for For Your Information. These notes are a subset of RFCs and contain information of interest to new Internet users.

Links to indexes of all three of these information resources are available on the University Libraries Web site at /http://library.albany.edu/reference/faqs.html.

CHAT & INSTANT MESSENGING

Chat programs allow users on the Internet to communicate with each other by typing in real time. They are sometimes included as a feature of a Web site, where users can log into the "chat room" to exchange comments and information about the topics addressed on the site. Chat may take other, more wide-ranging forms. For example, America Online is well known for sponsoring a number of topical chat rooms.

Internet Relay Chat (IRC) is a service through which participants can communicate to each other on hundreds of 2channels. These channels are usually based on specific topics. While many topics are frivolous, substantive conversations are also taking place. To access IRC, you must use an IRC software program.

A variation of chat is the phenomenon of instant messenging  With instant messaging, a user on the Web can contact another user currently logged in and type a conversation. Most famous is America Online’s Instant Messenger. ICQ, MSN and Yahoo are other commonly-used chat programs.

That's it!

PHOTOS: Yvonne Nelson Hot and Sexy Bikini Body

Yvonne Nelson just shared these pictures on her Instagram page today. Nice body there.

Your Basic Guide to Internet

The Internet is a computer network made up of thousands of networks worldwide. No one knows exactly how many computers are connected to the Internet. It is certain, however, that these number in the millions.

No one is in charge of the Internet. There are organizations which develop technical aspects of this network and set standards for creating applications on it, but no governing body is in control. The Internet backbone, through which Internet traffic flows, is owned by private companies.

All computers on the Internet communicate with one another using the Transmission

Control Protocol/Internet Protocol suite, abbreviated to TCP/IP. Computers on the Internet use client/server architecture. This means that the remote server machine provides files and services to the user's local client machine. Software can be installed on a client computer to take advantage of the latest access technology.

An Internet user has access to a wide variety of services: electronic mail, file transfer, vast information resources, interest group membership, interactive collaboration, multimedia displays, real-time broadcasting, shopping opportunities, breaking news, and much more.

The Internet consists primarily of a variety of access protocols. Many of these protocols feature programs that allow users to search for and retrieve material made available by the protocol.

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COMPONENTS OF THE INTERNET

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WORLD WIDE WEB

The World Wide Web (abbreviated as the Web or WWW) is a system of Internet servers that supports hypertext to access several Internet protocols on a single interface. Almost every protocol type available on the Internet is accessible on the Web. This includes e-mail, FTP, Telnet, and Usenet News. In addition to these, the World Wide Web has its own protocol: HyperText Transfer Protocol, or HTTP. These protocols will be explained later in this document.

The World Wide Web provides a single interface for accessing all these protocols. This creates a convenient and user-friendly environment. It is no longer necessary to be conversant in these protocols within separate, command-level environments. The Web gathers together these protocols into a single system. Because of this feature, and because of the Web's ability to work with multimedia and advanced programming languages, the Web is the fastest-growing component of the Internet.

The operation of the Web relies primarily on hypertext as its means of information retrieval. HyperText is a document containing words that connect to other documents. These words are called links and are selectable by the user. A single hypertext document can contain links to many documents. In the context of the Web, words or graphics may serve as links to other documents, images, video, and sound. Links may or may not follow a logical path, as each connection is programmed by the creator of the source document. Overall, the Web contains a complex virtual web of connections among a vast number of documents, graphics, videos, and sounds.

Producing hypertext for the Web is accomplished by creating documents with a language called Hypertext Markup Language, or HTML. With HTML, tags are placed within the text to accomplish document formatting, visual features such as font size, italics and bold, and the creation of hypertext links. Graphics and multimedia may also be incorporated into an HTML document. HTML is an evolving language, with new tags being added as each upgrade of the language is developed and released. The World Wide Web Consortium (W3C), led by Web founder Tim Berners-Lee, coordinates the efforts of standardizing HTML. The W3C now calls the language XHTML and considers it to be an application of the XML language standard.

The World Wide Web consists of files, called pages or home pages, containing links to documents and resources throughout the Internet.

The Web provides a vast array of experiences including multimedia presentations, real-time collaboration, interactive pages, radio and television broadcasts, and the automatic "push" of information to a client computer.

Programming languages such as Java, JavaScript, Visual Basic, Cold Fusion and XML are extending the capabilities of the Web. A growing amount of information on the Web is served dynamically from content stored in databases. The Web is therefore not a fixed entity, but one that is in a constant state of development and flux.

More still coming your way: Email, Telnet, FTP, ….

Nokia ad hints at another new Lumina phone with aluminum body, super duper camera

Fresh off the unveiling of the Lumina 928, it looks like Nokia may have one more surprise waiting. This past Sunday, Nokia ran this spot on British TV in anticipation of the Lumina event to be held in London on May 14.

While providing scant details, the mysterious ad shows a metal-encased Nokia Lumina phone that will deliver “more than your eyes can see.” Nokia has already released images and specs of the 928, and it’s not a metal encased phone. So, this is something different.

The short ad spot seems to show a bump on the back of the phone, similar to that of the Nokia 808 PureView and its camelback super camera. The 808 boasts a 41 megapixel (!) sensor with a 7728 x 4354 pixel resolution, which far out-specs the still respectable Lumina 928’s 8.7 megapixel camera with a 3624 x 2448 camera resolution.

SHOCKING: Imo police find dead body of 78-year-old woman in son’s wardrobe TEN YEARS after she went missing

The Police in Imo announced today that they found the embalmed body of a 78-year-old woman in her son’s wardrobe.

The woman had been declared missing since 2003.

Details later.

162! Suspected cultists arrested in Lagos Island following raid

The Police in Imo announced today that they found the embalmed body of a 78-year-old woman in her son’s wardrobe. The woman had been declared missing since 2003.

Details later.

 Security agents have arrested 162 people in Lagos Island  during a joint aimed at curbing activities of cultists  and hoodlums in the area.

policemen from divisions under the Area ‘A’ command, Lion Building, those from the Special Anti-Robbery Squad, Ikeja, Police Mobile Squad 20, Directorate of State Security, DSS,  the Military and members of Neighbourhood Watch raided surrounded the area on Sunday between 9 p.m., and 10.30 p.m.

According to reports, two females were among those taken into custody and are being interrogated.

A police source reportedly to journalists that: “We acted on tip off. And that is why we had to engage the services of members of the neighborhood watch in the raid. From the raided hideouts, it was evident that some of them could be members of confraternity groups.  But that will be determined at the end of investigation.”

Areas raided included LUTA, Bamgboshe, Masey, Oja-Oba and Adeniji Adele under bridge.

Keynes In the long run, we'll live to 300 and work

JOHN MAYNARD KEYNES'S contention that "in the long-run, we're all dead", is hard to dispute. Niall Ferguson, a professor of history at Harvard, raised hackles recently by suggesting that Keynes's seeming indifference to the welfare of future generations had something to do with the fact that he was childless and gay. As it happens, Keynes wasn't at all unconcerned withthe long run and was actually making a point about the danger of economic theorems that encouraged governments to believe that short-run economic interventions, such as goosing the money supply during a downturn, are futile. Keynes's keen interest in futurity is on full display in his famous essay, "Economic Possibilities for our Grandchildren", in which the economic conditions of the long run is probed with great insight.

As Ezra Klein points out, Keynes was impressively prescient about the extent of future economic growth, but less so when considering how we would respond to plenitude. Keynes saw the possibility that we would simply consume more, but he speculated hopefully that we would use our wealth to enjoy meaningful leisure, and that

the love of money as a possession — as distinguished from the love of money as a means to the enjoyments and realities of life — will be recognised for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease.

That is to say, in the long run, before they're dead, our grandchildren will be gentlepersons of leisure disgusted by the work of getting and spending. Alas, we are not.

Keynes's mistake, according to Mr Klein, is that he failed to see that

Humanity’s true nature evolved around the economic problem and, with the economic problem solved, it has simply applied itself to a simulacrum of the economic problem.

In the United States, the economic problem that organizes many of our lives is not that we don’t have enough. It’s that we don’t have quite as much as those who have more. That’s an economic problem that, almost by definition, can never be solved.

Another way to put this is that scarcity is a relative notion, and thus can never be overcome. It's a good point, though I have different complaints with Keynes's forecast.

First, Keynes is too myopic about the definition of "the long run". That the living ever dwell at the frontier of time seems to encourage a fallacious sense that the hour is getting late. That the end is nigh is deep in the DNA of Christian Western culture. Friedrich Hegel and Francis Fukuyama spotted the end of history just ahead of them. "Latter Day Saints" hoard potable water and canned goods in their cellars. Environmentalists tout a sort-of pagan eschatology. Yet, for all we know, this is the morning of humanity, and the modern era of economic growth was but a light breakfast. Suppose that in 50 years a great breakthrough extends the average lifespan by hundreds of years. Our grandchildren will look upon the present age of so-called abundance as the end of the original human era, during which a terrible and absolute scarcity of time prevailed. It's really not at all clear that even the richest of us is that much less poor than our hunter-gatherer forebears. If the hour is early, it may be that we are poorly prepared to understand what it would even mean to solve "the economic problem", the problem of scarcity.

My second complaint is that Keynes's assumption about the superiority of leisured pursuits is dogmatic rather than reasoned. Though Keynes saw quite clearly that the English aristocratic class seldom made the best use of its leisure, it's hard not to see his bias against commerce and consumption as a vestige of aristocratic ideology about the inherent degradation of market activity. The idealisation of bohemian artistic and intellectual life, and the dogma of its superiority over the bourgeois commercial life, that prevailed among Keynes' Bloomsbury friends, and prevails still among artists and intellectuals, is a remarkably sturdy remnant of our feudal legacy. No doubt the persistence of economic striving has more than a little to do with humanity's deep-seated anxieties about relative position, as Mr Klein suggests. Perhaps if we felt no need to keep up with the Joneses and Mendozas and Patels, it would not be the case that so many of us sincerely like working,like earning, like buying, and find a great deal of meaning in it. Perhaps if we had no positional impulse, we'd find luxurious stretches of leisure time less intolerably enervating. Perhaps. It seems simpler and less question-begging to say that we keep on working long hours and buying lots of stuff because, whatever the ultimate cause, we take less satisfaction in the occupations of non-commercial leisure.

Culled from The Econimist

How to Check Your Jamb Result

JOINT ADMISSIONS & MATRICULATION BOARD (JAMB) recently released results of the exam done on April 28, 2013. Checking your result is as easy as ABC. Just go to Jamb site and enter your Registration Number/PIN/Serial No and in one click your result would be revealed. The challenge you might have is either the server is so jammed because of so many checker like you who want to know their result and logging on the site
simultaneously  The solution: be patient. But I've head someone suggest using a Techno Phone ( china phone web browser, not opera mini) as a easy means to bye pass the traffic and checking it. Either way, you'll surely check your result. Good luck!

MOBILE NUMBER PORTABILITY: FAQ

MOBILE NUMBER PORTABILITY : Frequently Asked Questions

1  What is “Mobile Number Portability”? 

Mobile Number Portability is a service that enables you to keep your  mobile  phone  number  when  changing  from  one  mobile service  provider  to  another.  So,  if  you  switch  between  service providers, you do not have to go through the trouble of informing all your friends, family, colleagues and other contacts because your number stays the same.   

2  Who can use the system? 

Mobile Number Portability is available to both “Pre‐Paid” (Pay As You Go) and “Post‐Paid” mobile customers in Nigeria.

3  Who can provide this service? 

Mobile  Number  Portability  will  initially  be  available  among  the GSM mobile operators: MTN, GLOBACOM, ETISALAT, and AIRTEL. 

4  When will porting become available on the CDMA and Fixed line Networks? 

NCC  has  adopted  a  phased  approach  to  the  launch  of  Mobile Number  Portability  service  in  Nigeria.  The  process  to  port  to CDMA networks will begin as soon as the GSM porting process is completed and launched. 

5  What type of phone number can be ported? 

Any  mobile  number  on  the  GSM  network  can  be  ported irrespective of the type of service it is been used for (e.g. voice, data, GPS tracking etc). 

6  Where do I have to go to port my number? 

Customers should go to the customer care office, retail shop or outlet of their chosen new service provider and meet with the authorized sales person to request to port their number. (Porting  can  only  be  undertaken  by  visiting  the  customer  care office, retail shop or authorised dealer of your chosen new service provider  and  is  not  available  by  telephone,  online  or  other 

electronic means). Please do not terminate your service with your existing  service  provider  before  initiating  porting  with  the  new service provider. 

7 What time of day will the porting service be available by the operator? 

The  porting  service  will  be  available  when  your  new  service operator's store/ outlet/ sales point is open to customers 

8  What do I have to do to port? 

You will be required to complete a Port Request Form.   You will also be asked to send a text message with the word “PORT” to a short code “3232”. Assistance will be made available if required.  

9  How do I confirm that it is my number? 

To move your number to a new mobile operator, you need to bring the following into the new operator's stores.  Proof  of  identity  –  Either  an  identity  card,  passport  or  driving 

licence or an officially validated photographic identity document;  The working mobile number you wish to port. 

10  What if I do not have an ID card? 

If you are unable to present any ID card, a webcam will be used to take your photograph. 

 11  How much will it cost me to port my number?  

There are no charges for you to port your number.  

12  Can I change my mind during the porting process? 

You  can  change  your  mind  anytime  before  you  send  the 

confirmation SMS. Once the confirmation SMS has been sent, you 

can no longer cancel your port request and the porting process 

must progress to completion. 

13 How will I be advised of the status/ progress of my porting 

request? 

You will be informed of the progress of your porting request by 

text messages 

14  What happens if my porting request is rejected or fails to complete? 

You  should  contact  your  new  service  provider  to  resolve  the 

problem 

15    I'm a pre‐paid customer and I have some credit left ‐ can I take this with me?   

“Pre‐paid” customers won't be able to take outstanding credit with them, and should use it up before they switch service providers.  

16  What happens to SMS that I send or receive whilst porting?   

Messages which have been sent to the customer prior to porting, but not delivered, may be lost 

17  Will I be able to take my voicemails, SMS and service settings 

to my new operator?  

You will lose your old voicemail, SMS, MMS and ancillary services, and will need to set these up again with your new service provider. 

18    Will the cost of my calls to my friends and family change after I have ported? 

After porting, you may be charged differently when calling friends and family that are not on the same network as you. Also, your friends and family may be charged differently (if they remain on 

the old network or if the tariff arrangement with the new operator is different from that of the donor) when calling the customer after porting.   

19  When can I port to another operator?  

You can port at any time. However, you will be restricted from porting your number to a third operator or back to your original operator within 90 days of a previous port. 

20   Do I have a limit to the number of porting that I can do with one number in a particular year? 

No.  You can port your number as many times as you like in a given year.  However, there is a 90 days restriction before your next port. 

21  If I port to a new network, and get a new SIM Card, after 90 days,  will  I  follow  same  procedure  to  return  to  my  previous 

provider? 

Yes.  Any time you wish to port your number, you will have to go to 

the customer care office, retail shop or authorised dealer of your 

chosen new service provider to request to port your number.  You 

will also need to be issued a new SIM Card. 

27   How long does porting take?  

Your port will be completed within 48 hours.  

28   I'm a post‐paid customer ‐ can I port if my initial contract has not expired or I haven't paid my bills? 

Yes.  “Post‐paid”  customers  will  be  able  to  port  their  numbers. However, once the porting process is complete, post‐paid customers are required to settle their outstanding bills to their previous service provider  including  any  early  termination  fees.  The  old  service provider  is  permitted  to  use  any  legal  measures  to  recover  any outstanding charges from you. 

29  Will my old operator stop billing me when I port?  

“Post‐paid” customers will receive a final bill for usage up to the time their number is ported to the new operator.  

22  Will I use my previous SIM Card or will I be required to get 

another SIM Card from my previous operator thereby rendering my earlier SIM from this operator useless this time? You will need to be issued a new SIM card every time you wish to port your number to a new service provider as your previous SIM card will not work with your new service provider. 

23  Would I be required to pay for the New SIM Card? 

You will be issued a new SIM card by your new service provider, which may be free or charged, depending on the service provider. 24  Can I approach the new operator and decide to register my 

SIM Card with them for the purpose of porting? Your  SIM  Card  must  be  registered  with  your  current  operator before visiting your new service provider.  

25  Can my current operator try to persuade me to stay whilst I am porting?  

No. Your current operator is not allowed to contact you during the porting process to try and persuade you to stay with them. Any such contact by your current operator must be reported to your new service provider or the NCC. 

26  If my previous operator calls or disturbs me as a  way of inviting me back to its network within a period of 90 days of porting, to whom should I report? 

You can report this to your new service provider or to the NCC. 30  How can MNP be said to be free when a network operator may decide to charge for the new SIM card? The service of porting from one network operator to another is free. However,  since  a  new  SIM  card  is  required  to  port,  network operators may choose to either sell the new SIM card or issue it for free to the subscriber.   

  

31   Do I need to preserve my old SIM card in case I want to return to my previous network operator after 90 days? 

Your old SIM card will be rendered unusable as soon as porting to the new network operator is ompleted.  If you wish to port back to your old network operator, a new SIM card will be issued to you. 

32  If I initiate the porting process that cannot be reversed at the point of sending the text, when do I lose service from my previous network operator? 

As soon as porting is completed, you will be notified by SMS that porting is completed, and you will be requested to change your old SIM  card  with  the  new  one  given  to  you  by  your  new  network operator.  You  may  lose  service  from  your  old  service  network operator within an hour from being notified by SMS of completion of your port request.  It is therefore advisable that you insert your new SIM as soon as you are notified of port completion. 

33  In the event that I lose my previous service from the point of porting, would I be unable to make or receive calls until the porting is accomplished in 48 hours? 

You will have service from your old network operator until you are notified that porting is completed. You will be required to put in your new SIM to continue to make or receive calls.  If for any reason the SMS message was undelivered and you lose service, you should insert your new SIM card from your new service network operator as you may already be active on the new network operator. 

Source: NCC

Computer Acronyms

ADSL - Asymmetric Digital Subscriber Line
AGP - Accelerated Graphics Port
ALI - Acer Labs, Incorporated
ALU - Arithmetic Logic Unit
AMD - Advanced Micro Devices
APC - American Power Conversion
ASCII - American Standard Code for Information Interchange
ASIC - Application Specific Integrated Circuit
ASPI - Advanced SCSI Programming Interface

AT - Advanced Technology
ATI - ATI Technologies Inc.
ATX - Advanced Technology Extended

--- B ---
BFG - BFG Technologies
BIOS - Basic Input Output System

BNC - Barrel Nut Connector

--- C ---
CAS - Column Address Signal
CD - Compact Disk
CDR - Compact Disk Recorder
CDRW - Compact Disk Re-Writer
CD-ROM - Compact Disk - Read Only Memory
CFM - Cubic Feet per Minute (ft�/min)
CMOS - Complementary Metal Oxide Semiconductor
CPU - Central Processing Unit
CTX - CTX Technology Corporation (Commited to Excellence)

--- D ---

DDR - Double Data Rate
DDR-SDRAM - Double Data Rate - Synchronous Dynamic Random Access Memory
DFI - DFI Inc. (Design for Innovation)
DIMM - Dual Inline Memory Module
DRAM - Dynamic Random Access Memory
DPI - Dots Per Inch
DSL - See ASDL
DVD - Digital Versatile Disc
DVD-RAM - Digital Versatile Disk - Random Access Memory

--- E ---
ECC - Error Correction Code
ECS - Elitegroup Computer Systems
EDO - Extended Data Out
EEPROM - Electrically Erasable Programmable Read-Only Memory
EPROM - Erasable Programmable Read-Only Memory
EVGA - EVGA Corporation

--- F ---
FC-PGA - Flip Chip Pin Grid Array
FDC - Floppy Disk Controller
FDD - Floppy Disk Drive
FPS - Frame Per Second
FPU - Floating Point Unit
FSAA - Full Screen Anti-Aliasing
FS - For Sale
FSB - Front Side Bus

--- G ---
GB - Gigabytes
GBps - Gigabytes per second or Gigabits per second
GDI - Graphical Device Interface
GHz - GigaHertz

--- H ---
HDD - Hard Disk Drive
HIS - Hightech Information System Limited
HP - Hewlett-Packard Development Company
HSF - Heatsink-Fan

--- I ---
IBM - International Business Machines Corporation
IC - Integrated Circuit
IDE - Integrated Drive Electronics
IFS- Item for Sale
IRQ - Interrupt Request
ISA - Industry Standard Architecture
ISO - International Standards Organization

--- J ---
JBL - JBL (Jame B. Lansing) Speakers
JVC - JVC Company of America

- K ---
Kbps - Kilobits Per Second
KBps - KiloBytes per second

Note: KBps = 8Kbps

--- L ---
LG - LG Electronics
LAN - Local Area Network
LCD - Liquid Crystal Display
LDT - Lightning Data Transport
LED - Light Emitting Diode

--- M ---
MAC - Media Access Control
MB � MotherBoard or Megabyte
MBps - Megabytes Per Second
Mbps - Megabits Per Second or Megabits Per Second
MHz - MegaHertz
MIPS - Million Instructions Per Second
MMX - Multi-Media Extensions
MSI - Micro Star International

--- N ---
NAS - Network Attached Storage
NAT - Network Address Translation
NEC - NEC Corporation
NIC - Network Interface Card

--- O ---
OC - Overclock (Over Clock)
OCZ - OCZ Technology
OEM - Original Equipment Manufacturer

--- P ---
PC - Personal Computer
PCB - Printed Circuit Board
PCI - Peripheral Component Interconnect
PDA - Personal Digital Assistant
PCMCIA - Peripheral Component Microchannel Interconnect Architecture
PGA - Professional Graphics Array
PLD - Programmable Logic Device
PM - Private Message / Private Messaging
PnP - Plug 'n Play
PNY - PNY Technology
POST - Power On Self Test
PPPoA - Point-to-Point Protocol over ATM
PPPoE - Point-to-Point Protocol over Ethernet
PQI - PQI Corporation
PSU - Power Supply Unit

--- R ---
RAID - Redundant Array of Inexpensive Disks
RAM - Random Access Memory
RAMDAC - Random Access Memory Digital Analog Convertor
RDRAM - Rambus Dynamic Random Access Memory
ROM - Read Only Memory
RPM - Revolutions Per Minute

--- S ---
SASID - Self-scanned Amorphous Silicon Integrated Display
SCA - SCSI Configured Automatically
SCSI - Small Computer System Interface
SDRAM - Synchronous Dynamic Random Access Memory
SECC - Single Edge Contact Connector
SODIMM - Small Outline Dual Inline Memory Module
SPARC - Scalable Processor ArChitecture
SOHO - Small Office Home Office
SRAM - Static Random Access Memory
SSE - Streaming SIMD Extensions
SVGA - Super Video Graphics Array
S/PDIF - Sony/Philips Digital Interface

--- T ---
TB - Terabytes
TBps - Terabytes per second
Tbps - Terabits per second
TDK - TDK Electronics
TEC - Thermoelectric Cooler
TPC - TipidPC
TWAIN - Technology Without An Important Name

--- U ---
UART - Universal Asynchronous Receiver/Transmitter
USB - Universal Serial Bus
UTP - Unshieled Twisted Pair

--- V ---
VCD - Video CD
VPN - Virtual Private Network

--- W ---
WAN - Wide Area Network
WTB - Want to Buy
WYSIWYG - What You See Is What You Get

--- X ---
XGA - Extended Graphics Array
XFX - XFX Graphics, a Division of Pine
XMS - Extended Memory Specification
XT - Extended Technology