leslie picker and cory johnson.g up next, i will tell you about houlihan's restaurant. ♪ >> this is "taking stock" on bloomberg. i'm pimm fox. carol massar. russian hackers were able to steal data from jpmorgan chase and at least one other bank, according to people familiar with the case. the fbi is investigated whether was meant as retaliation against economic sanctions against russia. members of the central workers union are -- blocked major thorough fairs in a protest over taxes and wages and the overall cost of living in argentina. a town in eastern spain were awash in red pulp as people pelted each other with 125 tons of ripe tomatoes. the event was inspired by a food fight between local children in 1945. nonresidents for the second year in a row were charged to join in. the money was raised to help pay off some debt. but thanks very much. -- >> thanks very much. restaurant, big expansion plans. the company owns for restaurants -- four restaurants and has grown. the chief executive, bob hartnett all -- is with

leslie picker covers ipos. haselationship with ali[a been a little bit, gated -- the hasionship with alipay been a little complicated. what exactly does this new deal means? >> back in 2011, the purpose of spinning this off was because the chinese government restricts foreign investment in payment services. it was a spun it off, bit controversial, because of the way they left some major shareholders, such as yahoo!, out of the conversation. it was spun off, and what yesterday's restructuring agreement does is, it essentially says, if it were to do its own initial public offering, that ali baba would have an unlimited ability to get a windfall from that. --ore, they were cap did they were captured about $6 billion. -- they were capped at about $6 billion. now that cap has been lifted. >> i remember yahoo! was pretty unhappy with this move when alipay was spun off. is this good or bad for investors? ismost people would say this actually a good thing for potential ali baba investors, because it gives them a greate

>> leslie picker. bloomberg's ipo reporter. how popular is snapchat?hat is next. ♪ >> i'm emily chang. this is "bloomberg west." snapchat could soon be part of the $10 billion valuation club. the company is said to be nearing a funding round from kleiner perkins buyers. this would value snapchat at three times what mark zuckerberg offer to pay for it last year when the ceo turned him down. snapchat is the third most popular app among millennial's width 33% of 18-24-year-old using it. what makes snapchat so attractive to teams? and what does that mean for the company echo -- what makes snapchat so attractive to teenagers? and what does that mean for the company? i asked our guests. we do not really know what is going on. we have to ask the teenagers how this is all shaking out. ryan, i was curious, how much are your friend still using snapchat these days? >> the usage i'm seeing with snapchat with myself and my friend is changing a lot. it first exploded winter break of 2012, beginning of 2013. that is what i thought at my school. i see a lot more behav

>> leslie picker to covers acquisitions for bloomberg news. thank you both so much. big with a giant ipad. 12.9 inches. really supercharge sales? that is next. ♪ >> welcome back to bloomberg "west." size of theis the new ipad screen beginning production in the first quarter of next year according to people familiar with the matter. sales of the klein -- sales have declined for two straight quarters. what will be the key for winning market share? gene munster joins us. is bigger better in this case? >> it is. it is needed because ipad sales have been down five percent for the past year in terms of unit. i think all smiley it will open up new use cases for ipad. i think it is much needed. bit slow ona little the innovation curve on the ipad and will definitely be positive for sales. youhat kind of use cases do see? >> you could argue medical, areas of design and manufacturing. there is a relationship with ibm and apple which said they will come out with 100 different applications working in combination and could be some things that could come from that integration. rig

and leslie picker joins us with a special b-west byte. what have you got? is 93%. -- i woke upn of instantly from the earthquake. what this tells us is the information power that job own has. they are the makers of the bracelets that track people's sleep, eating, exercise. now we see this is a company ast has tremendous potential an information company. we've seen that take place with companies in the past. we have seen the tremendous potential facebook has had which has led to even higher by ua shins -- >> i do not know if that chart showed me waking up. i sure did wake up with that earthquake. i do not know how i feel about putting theawbone user data out there even in an anonymized way. >> i did not know it was taking those data. i use the jawbone product might self -- myself. one thing they were underestimating was the potential for size. >> thank you very much. great to have you on the show. more "bloomberg west" later tonight. ♪ >> from bloomberg world headquarters in new york, i am mark crumpton. this is "bottom line," the intersection of business an

i spoke to the owner of the site that sells luxury goods to the chinese market and leslie picker whoovers ipos. i started by asking her what impact it could have on alibaba. >> all of the al wish and -- the valuation metrics are still fluid. the eta will certainly cover alibaba. my sources tell me that if a company they are looking to compare it to. when it back out it will be compared. the bigger it the valuation , the bigger the offering size usually. >> how much of a challenge is this to alibaba? where do they compete the most? obviously e-commerce. >> it is a tremendous challenge for alibaba. there was overlap today and more strategic. alibaba has owned e-commerce in china now for basically since the advent of e-commerce in china. what tencent has been able to do is encroach on alibaba's turf. i would say it is more about defense rather than offense or alibaba. >> what are investors saying about that? are they worried or it do they feel like it stands on its own? >> i think the focus is users, back to the old, how do you value a big internet conglomerate? it is all about users an

leslie picker. us,eabody will stay with guest host this morning. coming up, heading to the middle east. they have had problems in a lot of other places, even though we all use it constantly. serena williams tried for something that has not been done since the mid-70's. peek at the u.s. open. can she do it at her age? stay with us. ♪ >> coming up in the next hour, verizon sustainability officer james gowen talks with us about solar energy. its rideis taking hailing app to israel. regulatory issues are not likely to be the company's biggest obstacle. .hey probably are when buber debuts its service there today, it will have to taxi, a tel aviv start up that raise $150 million in funding weeks ago. cab cap hailing act -=- -- hailing app is a competitor. joining me, cofounder of village ventures. joining us as well is brandon, because i heard you talking about buber on "surveillance." i am a fan boy. a regular viewer. brendan made a point earlier that buber at some point could possibly be taken over by another apple or a number of barrierss because of e