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...person staff are three former Microsoft employees - "three of the best guys ever to step off the Redmond campus on one team," boasts Picnik adviser Burgess - along with other respected Web talents. Marcelo Calbucci, an entrepreneur who founded Seattle 2.0, a service for Seattle start-ups, estimates on his blog that Google paid at least $46 million for Picnik, possibly twice that much. Picnik and Google have both refused to disclose purchase terms...

Author: /time Magazine | Title: Google's Acquisition Binge: Why It Bought Picnik | 3/5/2010 | See Source »

Financial giant Citigroup has recently stepped up its efforts to prove to the world that the bank is on the mend. In January, CEO Vikram Pandit said his firm had made enormous progress in 2009. And in February, Citi launched a blog to note that among other things, the bank's focus is "Our Clients. Period." But there is one area where the bank says it is no longer exceptional: it's no longer taking U.S. government handouts...

Author: /time Magazine | Title: Citi and the Government: Still a Close Relationship | 3/4/2010 | See Source »

...mammoth as we try to understand why it is blundering our way in a fit of rage. Supposedly, in an age when we receive pieces of information at an increasingly rapid pace, we should be getting even better at interpreting them. We are constantly being updated by smartphone, blog, or websites that update in real time. This trend extends beyond Twitter or Facebook—The New York Times website is also updated before the next issue is in print. But this bulk of information, instead of providing us with a more holistic view of the world, is really just...

Author: By Shaomin C. Chew | Title: The Ease of Misinterpretation | 3/4/2010 | See Source »

Here are a few scenes from a revolution: In early February, Barack Obama ended a six-month press-conference drought by taking questions from YouTube. When a madman crashed his plane into a Texas office building a couple of weeks later, the White House responded on its blog. And during the bipartisan summit on health reform, press secretary Robert Gibbs used Twitter to keep score...

Author: /time Magazine | Title: The White House Scrambles to Tame the News Cyclone | 3/4/2010 | See Source »

...LOLcats-meets-Hipster Bingo site, which launched a few weeks ago, spread across the Internet faster than that Jersey Shore clip of Snooki getting punched in the face. Hipster Puppies proves that you don't need an original idea to create a popular blog; you simply need to combine two things that people love - and sometimes love to hate. (That reminds me, I need to start my own blog: Republican Babies...

Author: /time Magazine | Title: Hipster Puppies, Hipster Kittens | 2/26/2010 | See Source »

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