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BlackBerry stock drops below $6

BlackBerry stock drops below $6

It doesn’t seem like John Chen’s open letter to customers has done anything to change Wall Street’s mind about the future of BlackBerry. Yesterday the stock dropped below $6, and so far today’s market action is keeping it there. This marks a new low for BlackBerry shares. Last fall the stock experienced a substantial drop too, but never dipped below $6.   What’s driving the weakness? There...

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Thoughts following a hangout with the BBM team

Thoughts following a hangout with the BBM team

Earlier this week I had the pleasure of hanging out with a bunch of the BlackBerry folks on the BBM team. I had a chance to express my (pretty strong) opinions, make suggestions and pick their collective brains on BBM topics of all kinds. Just to make this clear, they didn’t reveal any big secrets, but I think I now have a good idea of what seems to be a priority to the team. Without being too...

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Here’s why I welcome the big changes announced at BlackBerry today

Here’s why I welcome the big changes announced at BlackBerry today

Wow. John Chen sure moves fast. He was appointed interim CEO of BlackBerry recently, and we’re already seeing significant changes at the executive and board room level. The company has announced the departure of its CMO, COO and CFO along with the resignation of board member Roger Martin. These changes are bittersweet. After the end of the Jim and Mike regime, the company’s C-level suite...

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Can BBM steal Snapchat’s user base?

Can BBM steal Snapchat’s user base?

With BlackBerry remaining a public company, a great number of us are obviously interested in what they can do to boost their valuation. As much as I hope they can sustain themselves as a mobile platform (software, services and handsets too), it’s a tough battle. But BBM can survive even without BlackBerry as an independent platform. It’s now a cross platform (and still awesome) chat app. It...

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CrackBerry Asks: Do you like the new BlackBerry OS 10.2.1 call screen?

BlackBerry OS 10.2.1 has leaked. It is by no means official but a lot of you have loaded it up onto your BlackBerry 10 devices already. No doubt enjoying all the new features to be found. BlackBerry 10 has certainly come a long way since it first landed back in January 2013. Just take a look at the BlackBerry 10 Master change log we've put together. BlackBerry OS 10.2.1 brings a lot of really...

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Alec Saunders

Earlier this week, BlackBerry posted on their dev blog an official note about the Android Runtime update coming to users as part of OS 10.2.1. There is more to 10.2.1 than updating the runtime from Gingerbread 2.3 to Jelly Bean 4.2.2  -- this is also the update that allows BlackBerry app developers to build headless apps -- a much sought after feature by native BlackBerry app developers and...

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Leveraging Google to finally fix the BlackBerry app gap - Will it happen?

Leveraging Google to finally fix the BlackBerry app gap - Will it happen?

On Friday of last week, a bunch of us at CrackBerry sat down for podcast to discuss all the changes going on inside of the company right now. For a good chunk of time we discussed the possibility of BlackBerry gaining full access to all of the apps in the Google Play store. Since that podcast we’ve seen several bits of news, so it seems like a good topic to dive into a bit deeper. One of the...

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Statement from BlackBerry on Google Play / BlackBerry 10 rumors

Statement from BlackBerry on Google Play / BlackBerry 10 rumors

This weekend you may have noticed the forums buzzing with rumors over Google Play coming to BlackBerry 10. We weren't quite sure what the deal was since there were no solid details, but we did reach out to BlackBerry to try and set the record straight. According to the rumors, you'll soon be able to run Google Play on your BlackBerry 10 device and have full access to the wide variety of Google...

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BlackBerry could wind up with over $4 billion in cash

Opportunity

This week started off with a bang. Fairfax pulled away from its initial offer to take BlackBerry private, and instead brought forward the idea of a $1 billion convertible debt offering. With BlackBerry’s balance sheet showing $2.3 billion in cash as of last quarter, this financing will put BlackBerry’s total cash balance over $3 billion when complete. It’s expected to be complete within two...

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CrackBerry Q&A with John Chen, BlackBerry's new CEO!

John S. Chen

It was just six weeks ago that BlackBerry and Fairfax Financial announced a preliminary deal to take the handset maker private. As the due diligence kicked into high gear, BlackBerry’s leadership realized that privatization was not the right decision for the company. They were losing customers faster than before, and a leveraged buy out was going to take too much time. So the “for sale” sign...

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The Fairfax BBRY investment: One day later

Prem Watsa

Now that I've had 24 hours to think about yesterday's interesting financial twist and read plenty of other reporting on the subject, I thought I'd come back with another post to clear up a few things. First off, it was likely incorrect of me to say that Fairfax wasn't able to raise the $4.7 billion required to take BlackBerry private. I know some reputable media outlets said they were having...

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A first look at BlackBerry's soon to be (interim) CEO, John Chen

John Chen

Following today's news that John Chen will be replacing Thorsten Heins as interim CEO of BlackBerry, we did some quick googling to dig up a handful of videos on the man who will soon be leading the company's day to day operations. With BlackBerry not going private, we can only imagine lots of interviews will be in Mr. Chen's future, so we wanted to get an early look. Past performance is the...

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Prem Watsa couldn't buy BlackBerry for $4.7 billion, so he bought it for $1 billion instead

In a surprise twist this morning, BlackBerry is going to stay public. What I’ll do in this quick editorial is explain what’s happening in plain language, along with my thoughts.  The financing: Fairfax wasn’t able to raise the entire $4.7 billion required to go firm on its original $9/share take-private bid. That much had been anticipated, and was heavily reported in the media this weekend. So...

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BlackBerry receives $1 billion investment from Fairfax Financial and other investors, John S. Chen to be appointed Interim CEO; Prem Watsa Lead Director

BlackBerry has announced today that they have entered into a $1-billion investment agreement with Fairfax Financial and other investors. BlackBerry has concluded their review of strategic alternatives and will also be making changes to the board. John S. Chen will be appointed Executive Chair and Interim CEO while Fairfax CEO Prem Watsa will be appointed Lead Director. Current BlackBerry CEO...

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Report: BlackBerry no longer seeking deal, looks to replace CEO

Report: BlackBerry no longer seeking deal, looks to replace CEO

WOW! Crazy news this morning! This Tweet just came through from @globeinvestor: #Breaking: #BlackBerry abandons plan to find buyer, will replace CEO $BBRY $FFH.CA $BB.CA. Details soon from @globebusiness — Globe Investor (@globeinvestor) November 4, 2013 According to the Globe and Mail, BlackBerry is abandoning the deal with Fairfax Financial and will instead look to raise $1-billion of new...

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From the Editor's Desk: It's November 4th...

November 4th!

Ok CrackBerry Nation, BlackBerry fans and BlackBerry investors. It's November 4th. It's a day that's been marked on our calendars for weeks. Not for any sort of BlackBerry product launch though which would normally be the kind of date we look forward to around here. Rather, today is the day we *should* find out a little more about the future of BlackBerry, the company. Will BlackBerry be taken...

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Fairfax might not be able to raise the funds for BlackBerry bid

That's according to a new report coming out of Reuters who's sources familiar with the matter claim several large banks are reluctant to participate due to the concerns that BlackBerry will not be able to reverse its rapidly declining fortunes. While Fairfax has Bank of America Merrill Lynch and BMO Capital Markets on board, several other large lenders are said to of have passed on the deal....

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Cerberus and Lazaridis may jointly bid for BlackBerry

Cerberus and Lazaridis may jointly bid for BlackBerry

This afternoon the Wall Street Journal just posted a story saying that Mike Lazaridis and Doug Fregin, co-founders of Research In Motion, may jointly bid for BlackBerry along with support from Cerberus Capital Management. The WSJ cites the usual anonymous “people familiar with the matter”. As a reminder, Lazaridis and Fregin, together, own about 8% of BlackBerry stock, and are not currently...

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Here’s what happens to BlackBerry on November 4th

Here’s what happens to BlackBerry on November 4th

It has nearly been 6 weeks since BlackBerry’s board of directors entered into an agreement with a consortium of investors led by Fairfax Financial. As a reminder, here is what that agreement said in plain English: They take BlackBerry private for $9 per share. The general agreement is for Fairfax, and its partner investors, to take BlackBerry off the public market by purchasing all shares it...

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What is BBM really competing against?

What is BBM really competing against?

We're now just past the one week mark in the cross-platform BBM rollout and things are clearly going well. They've added 20 million new monthly active users in this time, and the numbers keep rising as indicated by the fact that BBM still ranks as one of the most popular free downloads on iOS and Android across dozens of countries. I've been very active in pushing people to download the app,...

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