The startup was founded in 2004, making its name catering to college students and through its quirky social media activities. Companies like GrubHub contract with restaurants, mostly in large metropolitan areas, and allow customers to shop online by food type, cuisine, or restaurant name to find what they want and have it delivered or prepared before pickup. A key reason for the downgrade was that consumer spending is now estimated to have expanded at a 2.6 percent annual rate, below the initial estimate of 3.3 percent though still the strongest quarterly spending by consumers in nearly two years. IPCom, which doesn't make any products, is one of a group of firms that license patents and file lawsuits to generate revenue, earning the moniker "patent trolls." ACQUISITIONSMattel to buy Mega BrandsMattel Inc. has made a friendly takeover offer for Canadian toy maker Mega Brands Inc., which has the world's No. 2 line of construction sets after Lego. The company says Mega Brands will help it expand in two of the fastest-growing product segments: construction sets and arts and crafts. HACKERSCasino patrons have data stolenComputer hackers stole some Las Vegas Sands customers' Social Security and driver's license numbers during a data breach last month, the casino company said Friday.
Reported by SFGate 7 hours ago.
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