Tiger Global invests $50 million in Automattic's WordPress

By Sarah McBride SAN FRANCISCO (Reuters) – Automattic, the company that operates blogging service WordPress, announced a $50 million investment from hedge fund Tiger Global on Friday. The investment comes on the heels of Yahoo’s $1.1 billion acquisition of blogging company Tumblr, showing the high prices fast-growing services that targeting Internet users can command. The valuation for WordPress was similar, Fortune reported. A spokeswoman for WordPress declined to comment. WordPress powers the blogs at companies such as CNN.com and Techcrunch, a spokeswoman said. …

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President Obama again to serve as honorary Cup chairman

U.S. President Obama lines up a putt on first green at Andrews Air Force Basi in Maryland(Reuters) – President Barack Obama has accepted an invitation to be honorary chairman of this year's Presidents Cup, the second time he will fulfil the role at the biennial team competition, the PGA Tour said on Friday. Obama, an avid basketball player who often escapes the pressures of the Oval Office by taking to the golf course, served as honorary chairman when the event was last played in the United States, at San Francisco's Harding Park in 2009. …

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Schumer urges look at security in Sprint deal

NEW YORK (AP) — Sen. Charles Schumer urged regulators to “use extreme caution” when reviewing the proposed acquisition of No. 3 cell carrier Sprint Nextel by Japan’s Softbank, saying the Japanese company’s use of Chinese networking equipment could open up U.S. networks to snooping and hacking.

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