Font ResizeDublin-based Taleo Inc., which makes software to recruit and manage employees, expects that its secondary public stock offering could raise up to $131.6 million. Taleo priced an offering of 6.5 million common shares at $20.25 apiece Friday. In a prospectus, Taleo said it intends to use the net proceeds for general corporate purposes. That includes adding to working capital and capital spending. Taleo said it will likely use some or all the proceeds to buy or invest in "complementary businesses, products or technologies." Taleo added, "management might not be able to yield a significant return, if any, on any use of these net proceeds."
Online
San Francisco-based Twitter Inc., the social-networking company valued at $1 billion by venture capitalists, is generating sales of more than $4 million a year. The revenue comes from companies that pay to use Twitter data, Twitters chief operating officer said Friday at a conference. Twitter — a free Web service that lets people post 140-character messages — is starting to concentrate more on revenue and will launch an advertising service in 2010, the executive said. With more than 58 million users, Twitter has raised about $155 million in venture capital.
Banking
San Francisco-based Wells Fargo is forming a clean technology investment group, which the bank intends to base
Retail
Shoppers spent more money at low-priced Old Navy stores in the third quarter, helping San Francisco-based Gap Inc.'s profit climb 25 percent compared with last year. Sales in Old Navy stores open at least a year rose 10 percent after sliding for two years. Old Navy's rebound helped Gap earn $307 million, or 44 cents per share, during the three-month period that ended Oct. 31. That compares with a year-ago profit of $246 million, or 35 cents per share.
Compiled from staff and wire reports. Got Bay Area business news? Reach Drew Voros at 925-943-8099 or dvoros@bayareanewsgroup.com.
