Are investors hungry for another initial public offering from a consumer internet company? Restaurant take-out website GrubHub Inc., slated to price its IPO this evening, is about to find out.
So far, the offering appears to be on track. In a sign investors were salivating over the deal, GrubHub raised it pricing expectations for the offering on Tuesday.
Bloomberg NewsThe company and existing investors expect to sell about 7 million shares for $23 to $25 apiece, raising up to $176 million, according to a regulatory filing.�That�� up from an earlier estimate of $20 to $22.
GrubHub charges restaurants a commission on orders booked through its take-out ordering service, which diners access through a Web browser or the company’s mobile application. Last year, it worked with 28,800 restaurants in 600 cities, according to the filing. It processed more than 135,000 revenue-generating orders a day across its platform (which the company calls ��aily Average Grubs���how�� that for an atypical financial metric).
Top European Companies To Invest In Right Now: Symantec Corporation(SYMC)
Symantec Corporation provides security, storage, and systems management solutions internationally. The company?s Consumer segment delivers Internet security, PC tune-up, and online backup solutions and services to individual users and home offices. Its Security and Compliance segment provides solutions for endpoint security and management, compliance, messaging management, data loss prevention, encryption, and authentication services to large, medium, and small-sized businesses, as well as offers solutions through its software-as-a-service (SaaS) security offerings. This segment?s products enable customers to secure, provision, and remotely manage their laptops, PCs, mobile devices, and servers. The company?s Storage and Server Management segment provides storage and server management, backup, archiving, and data protection solutions across heterogeneous storage and server platforms, as well as solutions delivered through its SaaS offerings to large, medium, and small-s ized businesses. Symantec?s Services segment offers implementation services and solutions, including consulting, business critical services, education, and managed security services. The company also provides various enterprise support offerings, such as annual maintenance support contracts, including content, upgrades, and technical support. It sells its products through its eCommerce platform, as well as through distributors, direct marketers, Internet-based resellers, system builders, ISPs, and retail locations worldwide. Symantec markets and sells its products through distributors, retailers, direct marketers, Internet-based resellers, original equipment manufacturers, system builders, and Internet service providers; and its e-commerce channels, as well as direct sales force, value-added and large account resellers, and system integrators. The company was founded in 1982 and is headquartered in Mountain View, California.
Advisors' Opinion:- [By Wallace Witkowski]
Symantec Corp. (SYMC) �shares dropped 7% to $19.44 on heavy volume, after a brief halted at the closing bell, as the security software company fired Chief Executive Steve Bennett.
- [By Reuters]
Peter Parks, AFP/Getty ImagesThe 12-story building in Shanghai's northern suburb of Gaoqiao where a Chinese military-led hacking group allegedly conducted a series of attacks on U.S. companies networks. BOSTON -- Cybersecurity company FireEye has acquired Mandiant, the computer forensics specialist best known for unveiling a secretive Chinese military unit believed to be behind a series of hacking attacks on U.S. companies. FirEye (FEYE) shares jumped more than 20 percent after Thursday's announcement of the $1.05 billion cash-and-stock deal, which FireEye said closed Monday. It unites two companies with relatively new technologies for thwarting cyber attacks, and brings together two of the most-respected executives in the security industry: FireEye CEO Dave DeWalt and Mandiant founder Kevin Mandia. While sales of older anti-virus products have been on the decline, security experts expect strong growth in both FireEye's cloud-based systems for detecting malicious software and Mandiant's software that analyzes cyber attacks. About a year ago the two companies entered into a technology development agreement that made it easier to deploy their products together. With the merger, FireEye will gain Mandiant's team of forensics investigators. "They have these very strong Navy 'cyber' Seals who respond to breaches and are very good at what they do," DeWalt said about Mandiant. He had previously served as chairman of Mandiant's board. "My aim is to create the strongest security company in the world," DeWalt said in an interview. FireEye, which has yet to post a profit, said the acquisition will be immediately accretive to earnings and expects the combined company's revenue to grow about 50 percent this year. In comparison, Symantec (SYMC), the biggest maker of anti-virus software, has said it expects fiscal 2014 revenue to drop 3 percent to 4 percent. Mandiant is best known for its forensics services. The company rose to prominence in February 2013 when it pu
- [By Amanda Alix]
Of course, banks can't know when an attack is merely disruptive, and when it may be covering for criminal activity. Security company Symantec (NASDAQ: SYMC ) has commented that these assaults have become a way for hackers to distract banks while funds are illegally withdrawn. Though most of the thefts have occurred in Europe, where attacks have progressed from website outages to actual bank heists, at least one U.S. bank, Citigroup, disclosed some losses due to cyber thievery earlier this year.
Hot Internet Stocks To Own Right Now: Google Inc.(GOOG)
Google Inc. maintains an index of Web sites and other online content for users, advertisers, and Google network members and other content providers. It offers AdWords, an auction-based advertising program; AdSense program, which enables Web sites that are part of the Google Network to deliver ads from its AdWords advertisers; Google Display, a display advertising network that comprises the videos, text, images, and other interactive ads; DoubleClick Ad Exchange, a real-time auction marketplace for the trading of display ad space; and YouTube that provides video, interactive, and other ad formats for advertisers. The company also provides Google Mobile that optimizes Google?s applications for mobile devices in browser and downloadable form; and enables advertisers to run search ad campaigns on mobile devices, as well as Google Local that provides local information on the Web; and Google Boost for small businesses to participate in the ads auction. In addition, it offers And roid, an open source mobile software platform; Google Chrome OS, an open source operating system; Google Chrome, a Web browser; Google TV, a platform for the consumers to use the television and the Internet on a single screen; and Google Books platform to discover, search, and consume content from printed books online. Further, the company provides Google Apps, a cloud computing suite of message and collaboration tools, which includes Gmail, Google Docs, Google Calendar, and Google Sites; Google Search Appliance that offers real-time search of business and intranet applications, and public Web sites; Google Site Search, a custom search engine; Google Commerce Search for online retail enterprises; Google Checkout to make online shopping and payments streamlined and secure; Google Maps Application Programming Interface; and Google Earth Enterprise, a firewall software solution for imagery and data visualization. Google Inc. was founded in 1998 and is headquartered in Mountain View, California.
Advisors' Opinion:- [By Tim Brugger]
Google's (NASDAQ: GOOG ) Android and Apple's iOS still rule the domestic smartphone OS marketplace of course, owning 51.7% and 41.4% through Q1 of this year, respectively. But interestingly, according to Kantar Worldpanel ComTech, iOS and Windows phone OS both grew faster than Android compared to the first quarter of 2012, with iOS leading the way up 2.3 percentage points, followed by Windows Phone's 1.8 percentage point gain.
- [By Jon C. Ogg]
While Apple’s Mac is a serious competitor to PC sales, the real threat is the move to iPhones and iPads from Apple, and the smartphones and new and upcoming tablets running on the Android system of Google Inc. (NASDAQ: GOOG). Unfortunately for Google shareholders, that did not exactly translate to additional stock gains after its earnings report in July. Google shares are down almost 8% from the pre-earnings highs.
- [By Alex Planes]
After the turn of the century, Motorola briefly revived the flip style with the enormously popular RAZR line, which sold an estimated 130 million units during its production run. This total can't compete with that of the simple-but-functional pre-smartphone Nokia 1110, a low-cost mini-brick released in 2005 that claims more than 250 million unit sales. In the end, a fast-changing industry left Motorola in the dust, and it was acquired by Google (NASDAQ: GOOG ) for little more than the sum of its patent parts in 2011.
Hot Internet Stocks To Own Right Now: Alibaba Group Holding Ltd (BABA)
Alibaba Group Holding Limited, incorporated on June 28, 1999, is an online and mobile commerce company. The Company operates its ecosystem as a platform for third parties. The Company operates Taobao Marketplace, China�� online shopping destination, Tmall, China�� third-party platform for brands and retailers and Juhuasuan, China�� group buying marketplace. In addition to its three China retail marketplaces, the Company operates Alibaba.com, China�� global online wholesale marketplace, 1688.com, its China wholesale marketplace, and AliExpress, its global consumer marketplace, as well as provides cloud computing services. As a platform, the Company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with consumers and businesses. Effective August 01, 2014, Alibaba Investment Ltd, a unit of Alibaba Group Holding Ltd, acquired a 10.193% interest n Singapore Post Ltd.
The buyers and sellers discover, select and transact with each other on the Company�� platform. Third-party service providers add value to its platform through service offerings that make it easier for buyers and sellers to do business. The third-party participants in its ecosystem include a payment services provider, logistics providers, retail operational partners, marketing affiliates, independent software vendors and various professional service providers. The Company has developed policies and procedures that maintain the health and sustainability of its marketplaces, including consumer protection programs, marketplace rules, qualification standards for merchants and buyer and seller rating systems. As its ecosystem expands, new jobs are created.
Taobao Affiliate Network is powered by Alimama, its online marketing technology platform. Through this platform, sellers place marketing displays on its marketing affiliates��websites and mobile apps, and sellers pay a performance-b! ased marketing fee primarily based on cost-per-click (CPC), and cost-per-sale (CPS), models. Through China Smart Logistics, the Company provides real-time information to its logistics partners, including key operating metrics, such as distribution center utilization rates, route planning data and order volume forecasts. Independent software vendors (ISVs) provide software tools, as well as systems integration services to sellers.
Tmall is an online platform featuring brands and retailers with each seller having an identifiable online storefront. Users may access Tmall anytime, anywhere through the Tmall Website and the mobile apps and mobile-optimized websites provided by Taobao Marketplace and Tmall. The physical product categories on Tmall include apparel and accessories, electronics and appliances, home furnishings, home appliances, maternity and baby products. Juhuasuan is an online group buying marketplace in China. Juhuasuan offers quality products at discounted prices by aggregating demand from numerous consumers. Juhuasuan mainly does this through flash sales, which make products available at discounted prices for a limited period of time. Juhuasuan offers group buying channels featuring branded and private label products, products made to custom specifications and local services.
AliExpress is a consumer marketplace enables consumers from around the world to buy directly from wholesalers and manufacturers in China. On AliExpress, consumers have access to a variety of products. In addition to the global English-language site, AliExpress operates two local language sites in Russia and Brazil. The product categories on AliExpress.com include apparel and accessories, phones and communications products, beauty and health, computer networking, jewelry and watches. Alibaba.com is an online commerce platform. Sellers on Alibaba.com may pay for an annual Gold Supplier membership to host a premium storefront with product listings on the marketplace.
The Company��! marketin! g technology platform, Alimama, offers sellers on its marketplaces marketing services for both personal computer and mobile devices, which include P4P marketing service and display marketing. Alimama also offers its sellers these marketing services through third parties through the Taobao Affiliate Network. The Taobao Ad Network and Exchange (TANX) automates the buying and selling of billions of advertising impressions on a daily basis by third parties. The Company also offer a data management platform (DMP), connected to TANX. Its DMP allows participants on TANX to evaluate and select online advertising inventory using both behavioral data they provide, as well as data from browsing behavior and shopping history. Its Cloud Computing supports its commerce ecosystem by providing a distributed computing infrastructure to handle the large volume of traffic and data generated on its online marketplaces. Its cloud computing platform offers service offerings, including elastic computing, database services and storage and large scale computing services.
The company offer search functions on all of its Web pages, mobile apps and many of its marketing affiliates��websites and apps to make it easy for buyers to find products and services within its marketplaces. The Company offers Aliwangwang, a personal computer-based instant messenger that supports text, audio and video communication. The Company developed Aliwangwang to facilitate open communication between buyers and sellers on Taobao Marketplace and Tmall. Buyers and sellers use it as a tool for a range of tasks, including negotiation of prices, customer services and delivery notification, in addition to the basic messaging functions. It offer Qianniu , an integrated platform for communication and productivity tools which allows sellers on Taobao Marketplace and Tmall to manage their operations more efficiently.
Alipay, the Company�� related company, provides payment and escrow services for transactions on Taobao Marketplace, Tm! all, 1688! .com and certain of its other sites, as well as to third parties in China. The Company�� small and medium enterprise (SME) loan business provides micro loans to sellers on its wholesale and retail marketplaces through lending vehicles licensed by the local government.
The company competes with Tencent and Baidu.
Advisors' Opinion:- [By WWW.DAILYFINANCE.COM]
ChinaFotoPress/Getty ImagesEmployees cheer at Alibaba headquartes in China as its stock debuts in New York. At $231 billion, Alibaba Group (BABA) closed Friday with more than twice the market cap of Facebook (FB), three times that of eBay (EBAY), and about 50 percent more than Amazon.com (AMZN). For founder Jack Ma, the run-up means he's now worth more than $20 billion, according to Forbes' estimates. Yahoo (YHOO), meanwhile, is now sitting on a stake that was worth more than $49 billion the day of the initial public offiering -- about $10 billion more than its current market cap.
- [By MONEYMORNING.COM]
More from Keith Fitz-Gerald: The Apple-istas aren't going to like this, but Apple - the once-proud brand with seemingly bulletproof profit margins - is in trouble. Here's why Alibaba stock (NYSE: BABA) is a better buy than Apple.
- [By Jayson Derrick]
Alibaba's (NYSE: BABA) CEO Jack Ma said he is willing to cooperate with Apple (NASDAQ: AAPL) on a mobile payment system. Shares of Alibaba hit new 52-week highs of $100.67 before closing the day at $99.68, while shares of Apple gained 1.51 percent, closing at $106.70.
- [By Ben Levisohn]
Trading volume was particularly heavy today, thanks to Alibaba’s (BABA) heavily-hyped IPO. More than 270 million shares of Alibaba changed hands today, making it the most heavily traded stock today, while Yahoo! (YHOO), which owns a big chunk of the Chinese internet giant, saw 231 million shares traded, the most since Microsoft (MSFT) it would no longer buy the company back in May 2008. Overall, 8.6 billion shares changed hands today, the fourth highest volume of the year.
Hot Internet Stocks To Own Right Now: eBay Inc.(EBAY)
eBay Inc. provides online platforms, services, and tools to help individuals and merchants in online and mobile commerce and payments in the United States and internationally. Its Marketplaces segment operates ecommerce platform eBay.com; vertical shopping sites, such as StubHub, Fashion, Motors, and Half.com; and classifieds Websites, including Den Bl�Avis, BilBasen, Gumtree, Kijiji, LoQUo, Marktplaats.nl, mobile.de, Alamaula, Rent.com, eBay Anuncios, eBay Kleinanzeigen, and eBay Annunci, as well as provides advertising services. The company?s Payments segment offers payment and settlement services for consumers and merchants on and off eBay Websites and other merchant Websites. This segment operates PayPal, which enables individuals and businesses to send and receive payments online and through mobile devices; Bill Me Later that enables the United States merchants to offer, the United States consumers to obtain, credit at the point of sale for ecommerce and mobile tra nsactions; Zong, which allows users with mobile phones to purchase digital goods and have the transactions charged to their phone bill; and BillSAFE that enables customers pay for purchases upon receipt of an invoice. Its GSI segment offers an ecommerce services suite for enterprise clients that operate in general merchandise categories, including apparel, sporting goods, toys and baby, health and beauty, and home; and marketing services comprising full-service digital agency, enterprise email marketing, mobile advertising, affiliate marketing, advertisement retargeting, and in-depth analytics services. The company also offers X.commerce platform that provides software developers access to the company?s applications programming interfaces to develop functionality for various merchants; and Magento Connect, which allows developers to market and sell add-on functionality and solutions to merchants that use a Magento storefront. eBay Inc. was founded in 1995 and is headquarter ed in San Jose, California.
Advisors' Opinion:- [By Rex Crum]
EBay Inc. (EBAY) �ended the day down by 8 cents a share at $53.64 a day ahead of the company�� first-quarter earnings report.
- [By Lisa Levin]
Catalog & Mail Order Houses: The industry gained 1.53% by 10:25 am. The top performer in this industry was eBay (NASDAQ: EBAY), which gained 6.4%. The company announced its plans to separate eBay and PayPal into two publicly traded companies in 2015.
- [By Benjamin Pimentel]
Shares of eBay (EBAY) �slipped a fraction to close at $58.86. Investor Carl Icahn again blasted the company�� board, saying in an interview with CNBC that he has ��ever seen worse corporate governance than eBay.��
- [By WWW.DAILYFINANCE.COM]
www.ebay.com There were plenty of winners and losers in the business world this week, with the leading online auction site suffering a massive data breach and a streaming video service expanding overseas. Here's a rundown of the smartest moves and biggest blunders. eBay (EBAY) -- Loser A massive data breach at eBay was reported this week. Hackers cracked into eBay's database, gaining access to the names, email addresses, phone numbers, addresses and birthdays of its 233 million registered users. Passwords and payment information were encrypted, and are in all likelihood safe, but eBay is telling folks as they log into the site to change their passwords as a precautionary measure. Identity theft at websites and retailers is a major problem, but why are companies so slow to get the news out? The hack at eBay took place nearly three months ago, and eBay found out about it two weeks ago. Why did it wait until Wednesday to announce the breach? It also didn't mail its users, choosing instead to let them know about it when they logged into the site. Such situations are unfortunate, and unfortunately becoming more common, but companies need to own up to the breaches sooner and communicate with their customers more effectively when they happen. Netflix (NFLX) -- Winner The leading premium video streaming service is about to collect some more passport stamps. Netflix announced on Wednesday that it will be expanding into Germany, Austria, Switzerland, France, Belgium and Luxembourg later this year. The moves were widely expected. Variety spilled the beans on Netflix being in talks to enter France and Germany several weeks ago. After offering its digital platform in the United Kingdom and Scandinavia, the central Europe is a logical next step. Sears Holdings (SHLD) -- Loser Several out-of-favor retailers bounced back a bit this earnings season, but Sears wasn't one of them. The parent company of Kmart and its namesake department store saw sales fall 7 percent in it
Hot Internet Stocks To Own Right Now: IAC/InterActiveCorp (IACI)
IAC/InterActiveCorp engages in the Internet business in the United States and internationally. The company�s Search segment develops, markets, and distributes various downloadable toolbars; provides search, reference, and content services through its destination search and other Websites, including Ask.com and Dictionary.com; and aggregates and integrates local advertising and content for distribution to publishers on Web and mobile platforms, as well as markets and distributes mobile applications through which it provides search and additional services. Its Match segment offers subscription-based and advertiser-supported online personals services through its Websites comprising Match.com, Chemistry.com, OurTime.com, BlackPeopleMeet.com, and OkCupid.com, as well as through mobile applications and Meetic-branded Websites. The company�s ServiceMagic segment offers Market Match service that matches consumers with service professionals; Exact Match service, which enables con sumers to review service professional profiles and select the service professional that meets their specific needs; and 1800Contractor.com, an online directory of service professionals. This segment also offers Website design and hosting services. Its Media and Other segment operates CollegeHumor.com, an online entertainment Website that targets young males; Vimeo, a Website on which users can upload, share, and view video; and Pronto.com, a comparison search engine. This segment also engages in the creation of video content for various distribution platforms; and operates as an Internet retailer of footwear and related apparel and accessories, as well as focuses on multimedia business. The company was formerly known as InterActiveCorp and changed its name to IAC/InterActiveCorp in July 2004. IAC/InterActiveCorp was founded in 1986 and is headquartered in New York, New York.
Advisors' Opinion:- [By Lawrence Meyers]
Rather than pick the obvious candidates, I also like to look for great stocks to buy that might not be on most investors��radar. Here are three such stocks to buy:
InterActiveCorp (IACI)InterActiveCorp (IACI) is Barry Diller�� conglomerate of internet companies, not terribly different from John Malone�� Liberty Interactive (LINTA). The strategy for IACI stock has been to wait for a leader in a given sector to emerge and then buy it up, or at least a portion of it. These businesses either have a history of generating lots of cash flow, or have the potential to do so.
Hot Internet Stocks To Own Right Now: Yahoo! Inc.(YHOO)
Yahoo! Inc., together with its subsidiaries, operates as a digital media company that delivers personalized digital content and experiences through various devices worldwide. It offers online properties and services to users; and a range of marketing services to businesses. The company?s communications and communities offerings include Yahoo! Mail, Yahoo! Messenger, Yahoo! Groups, Yahoo! Answers, Flickr, and Connected TV, which provide a range of communication and social services to users and small businesses enabling users to organize into groups and share knowledge, common interests, and photos. Its search products comprise Yahoo! Search and Yahoo! Local, available free to users to navigate the Internet and discover content. The company?s marketplaces offerings and services include Yahoo! Shopping, Yahoo! Travel, Yahoo! Real Estate, Yahoo! Autos, and Yahoo! Small Business, which allow users to research specific topics, products, services, or areas of interest by review ing and exchanging information, obtaining contact details, or considering offers from providers of goods, services, or parties with similar interests. Its media offerings comprise Yahoo! Homepage, Yahoo! News, Yahoo! Sports, Yahoo! Finance, My Yahoo!, Yahoo! Toolbar, Yahoo! Entertainment & Lifestyles, Yahoo! Contributor Network, and Yahoo! Pulse, which are designed to engage users with online content and services on the Web. The company also offers marketing services, such as display and search advertising, listing-based services, and commerce-based transactions to advertisers. In addition, it provides software and platform offerings for third-party developers, advertisers, and publishers, such as Yahoo! Developer Network, Yahoo! Open Strategy, Yahoo! Application Platform, Yahoo! Updates, Yahoo! Query Language, and Yahoo! Search BOSS. The company has strategic alliances with Nokia and ABC News, Inc. Yahoo! Inc. was founded in 1994 and is headquartered in Sunnyvale, Californi a.
Advisors' Opinion:- [By Chris Neiger]
After just announcing the purchase of Tumblr earlier this week, Yahoo (NASDAQ: YHOO ) just�acquired�cross-platform gaming software�company PlayerScale today. The company creates gaming software that can be used on multiple platforms, which are played by over�150 million people worldwide, and adds 400,000 new users every day.
- [By Chris Hill, Jason Moser, and Charly Travers]
Yahoo's (NASDAQ: YHOO ) first-quarter revenue was flat, but display advertising dropped 11%. Bank of America upgraded Yahoo! based on the company's Alibaba stake. But Yahoo! continues to lose ground to Google (NASDAQ: GOOG ) and Facebook (NASDAQ: FB ) . In this installment of MarketFoolery, our analysts talk about the future of Yahoo! and explain why CEO Marissa Mayer's leadership may be undervalued.
- [By Associated Press]
SAN FRANCISCO (AP) -- Microsoft (NASDAQ: MSFT ) has extended a guarantee that provides Yahoo! (NASDAQ: YHOO ) with financial protection as part of the two companies' Internet search partnership.
- [By Kevin Chen]
Yahoo!� (NASDAQ: YHOO ) has picked up two more mobile start-ups: �GoPollGo and MileWise. Both companies will no longer support their services as they transition into Yahoo!, according to posts on their sites.
Hot Internet Stocks To Own Right Now: Amazon.com Inc.(AMZN)
Amazon.com, Inc. operates as an online retailer in North America and internationally. It operates retail Web sites, including amazon.com and amazon.ca. The company serves consumers through its retail Web sites and focuses on selection, price, and convenience. It also offers programs that enable sellers to sell their products on its Web sites, and their own branded Web sites. In addition, the company serves developer customers through Amazon Web Services, which provides access to technology infrastructure that developers can use to enable virtually various type of business. Further, it manufactures and sells the Kindle e-reader. Additionally, the company provides fulfillment; miscellaneous marketing and promotional agreements, such as online advertising; and co-branded credit cards. Amazon.com, Inc. was founded in 1994 and is headquartered in Seattle, Washington.
Advisors' Opinion:- [By Tamara Rutter]
Amazon (NASDAQ: AMZN ) inked a multi-year deal with Viacom (NASDAQ: VIAB ) on Tuesday that gives the e-tailer exclusive rights to hundreds of children's shows, including popular programs such as "Dora the Explorer" and "Blue's Clues." The deal gives Amazon an edge against Netflix (NASDAQ: NFLX ) in the all-important children's content category. This comes after Netflix failed to renew its contract with Viacom last month in favor of more affordable offerings from Disney.
- [By MONEYMORNING.COM]
Amazon.com, Inc. (NASDAQ: AMZN)'s 13,813% total return since it IPO'd in 1997 came with one very powerful tailwind filling its sails - it was, for all intents and purposes, the only game in town for directly investing in industrial-scale online retailing.
- [By Eric Volkman]
AP/Jim Mone Is Bitcoin a slam-dunk as the currency of the future? The Sacramento Kings seem to think so. The NBA team recently became the first pro sports franchise to accept Bitcoin as a form of payment. Basketball fans will be able not only to purchase tickets and merchandise online with the digital cryptocurrency, but also to use it to buy souvenirs at the arena come game time. The team is the latest in a growing number of commercial entities finding a slot in their virtual cash registers for Bitcoin. Little by little, momentum is building for a widespread acceptance of the upstart currency. Overstocking The Kings' drive towards the Bitcoin basket comes a week after the big online retailer Overstock.com (OSTK) announced it would start accepting payments in the currency. The move was an instant hit -- the first day the company had the nifty Bitcoin button as an option in its shopping cart, its customers used it to make more than 800 transactions for total sales of around $130,000. Overstock.com was by no means the first online marketplace to accept the currency. Numerous web retailers have been doing so for some time. It's a natural fit, %VIRTUAL-article-sponsoredlinks in a way, since Bitcoin exists solely in the digital realm. Customers booking flights on discount travel operator CheapAir.com, for example, can use Bitcoin to buy their tickets, as can love seekers on dating site OkCupid, owned by IAC/InteractiveCorp (IACI). These digital players are going to have plenty of company. Earlier this month, online games purveyor Zynga (ZNGA) started to dip its toes in the water, announcing that it was testing Bitcoin payments for some of its titles in conjunction with specialist transaction facilitator BitPay. But if Overstock.com didn't get there first, it's still the largest and most prominent e-retailer to take the Bitcoin plunge thus far. This is a big win for the currency and its advocates, and Overstock.com will surely be followed by more well-known comp
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