charles: kleiner perkins? >> yeah. charles: and average person? >> i do not want to be a buyer in the public market not at this value. >> this is such an illega an ild market right now. >> look at some of the ipos in a month it could be a half of that. >> i tell you, the young kids use snap chat, this is how they calm kate, they don't -- communicate, they don't text, they snap chat, look at drop box, my whole family uses drop box. i think there could be something here at the end of the day. >> where is the revenue stream. >> look at fac facebook there ws none, and none with priceline. >> if they could tell me that revenue stream for snap chat is through a device i get that. charles: megan, that is what the argument will be, this is a product with astl least 100 miln machinery users right -- monthly users right now, that could go up. you could monetize that with a small fee and make this a profit ib company. >> i agree that snap chat is an obsession among millennials, it is accurate it is relevant. but the url, ban ser a problem -- banner is a prob

>> kleiner perkins, seems to have happened over the july 19th and 20th weekend. h someone physically broke into the office, and made off with some equipment, including password-protected laptops. including financial accounts, addresses, social security numbers. it's not clear to police or kleiner perkins, at least what they divulged to new hampshire, that any of that information was accessed by the burglars. it could be they just made off with some equipment. but they are offering credit monitoring services to the people apparently who may have been affected. >>> footlocker jumping today, profits at the retailer surging up from a year ago. revenue fall well sort of revenue estimates. weak traffic and discounting hurting the bottom line. and peregrine semiconduct ore is the biggest gainer on the nasdaq. we're going to head to break, but let's tell you what's coming up, making money on flipping home and fine dining at 30,000 feet. to you first. >> well, susan, it's a dirty, risky business, but someone's got to profit. how home flippers are changing their tack in to

the company is said to be nearing a funding round from kleiner perkins buyers.s 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 behavior of kids using stories and less direct snaps. >> it is a way to share photos through the day and people can view those photos as a story rather than simply communicating one-on-one with one another. >> y

one of the managers, kleiner perkins. christine lagarde is under investigation for negligence in france when she was the french finance minister. many around the world are astonished by that latest adult -- development. the s&p will kick off today at a new high but that is just a part of the story. rallies in brazil and japan helped push the value of global equities to its own record, $66 trillion sloshing around the global market. trillionmore than $2 in value since august 7. the markets correspondent scarlet fu has more. 1000e index first reached in 1998. it took 16 years. it was last below 1000 has recently as september, 2009. from that point of view, it has taken almost five years to go from 1000 back to 2000 and now it has closed above it. i was looking at the movers and you have cyclical groups leading nine --from 2009 until until now. after stocks are up 125 percent. industrials gaining 120%. these are industry groups that have doubled in value since that period. i was speaking with liz and sanders -- she says the

kleiner perkins buyers have invested in security startups. that did not stop the firm from getting robbed in july. police in menlo park, california say they are investigating the theft of six laptops, two monitors, and a docking station. the break-in might mark the latest case of intellectual theft. a man accused of running a $1.2 billion online market known as the silk road faces charges of internet drug trafficking. he has been accused of operating the marketplace where customers use bitcoin where they can buy heroin and fake passports. he was first charged in 2013. he faces charges including conspiracy to commit computer hacking and money laundering. federal regulators are asking comcast to explain their internet and content policies. in a letter made public today, the fcc asks comcast to provide information on a range of its business practices from programming agreements to data caps on customers. now, to the lead. the hunt is on for the islamic extremist who brutally murdered american journalist james foley. the killer ensured of the tas

kleiner perkins took another seat on the board and pincus was xbox as ceo, replaced by executive donattrick. he got a $5 million signing bonus and more than 10 million restricted stock units from zynga. users by 2013. by the end of one year of his tenure, the same problems exist. and a draw in more users? can they launched another game, and can they launch games with the same skill they launched a stock? >> cory johnson, here with more now on zynga and the results today. not great. >> not great. they are up against it. 130 million users now, a little uptake in user numbers. a lot of members not good, pushing out games, trying to develop more mobile games. not totally miserable. they had a lot of revenues, just 35% less. >> they are pushing up most popular games. poker, "words with friends" -- why? mattrick is >> don pushing them out so they can get more development on mobile and better games. he says by the end of the year half of the r&d will go toward new games. they recognize they need hits, and they don't have them. one of the lessons to take away from zynga, outside of all the c

>> we got some venture funding this year, from kleiner perkins as well as horizon ventures. we are the little guys. >> thank you very much. >> cori, i've been looking at your calendar and i notice you do have a few more vacation days. if you want to take another day off, i would gladly have you over to my house to try out the lightbulbs. i do have some several lamps. i've tried a few different lightbulbs, but certainly not everyone available. i would love to have your opinion. a betterot think of way to spend my day off then be at your house testing lightbulbs. emily, i'm here for you. you know that. [laughs] good to know. ♪ >> welcome back. i'm emily chang. we turn now to the u.s.-africa business forum happening right now in washington, d.c. president obama is hosting several dozen new -- several dozen leaders there and just announced $14 billion in commitments in u.s. businesses investing in africa. hans nichols is there and joins us live. take it away. emily, thanks so much for having me. i'm joined by jay ireland, the ceo of ge in africa. thank you for being with us. >>

they are said to be nearing a round by kleiner perkins that would value them three times what mark zuckerberg to pay for it last year. they have 33% of 18-34-year-olds using the photo-sharing app. what makes it so attractive to answer to and what does this addicted awed mean for the company's business? i spoke to two teen users. i started by asking ryan how many of his friends are still using snapchat and for what? >> 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 when it took over at my school. i see a lot more behavior of kids using stories and less direct snaps. but it is a way to share photos -- >> it is a way to share photos through the day and people can view those photos as a story rather than simply communicating one-on-one with one another. is that what you're saying? >> yes, some of the novelty of direct one-on-one has worn off, but we really like stories like what happened in that class today? what has been happening throughout your day? >> how about you? how are you using it and how

kleiner perkins buyers have invested in security startups.t did not stop the firm from getting robbed in july. police in menlo park, california say they are investigating the theft of six laptops, two monitors, and a docking station. the break-in might mark the latest case of intellectual

kleiner perkins investings 20ds million in snapchat valuing the company at a whopping $10 billion afterecords alibaba was interested in its own investment in snapchat. here's the ceo evan spiegel with us last year. >> we're not making money right now, but fortunate to have a role model in ten cent. huge build in china. we've seen they've been able to do that without relying on brand advertising. that's exciting for us. in the near term look at transactions and further down the road, afdvertising as well. >> and app square, getting money from singapore among other governments. valuing square at $6 billion. speaking of valuation, janney downgrades to neutral believing the social network's strong performance to date will face head winds next year. trading lower. one of the worst on the s&p in a relatively thin tape. roger, where's your head on valuations overall? more cautious i know on the market because of geopolitics. but what does this all say to you? >> well, it's almost as though the venture community is partying like it's 1999 all over again. you know, it remains to be seen whether

kleiner perkins is investing in snapchat worth $20 million. i values snapchat at forly $10 billion. snapchat is raise agnew round of funding. it is disclosing for the first time it's monthly active users saying about 100 million users. keep in mind they reportedly rejected a $3 billion offer from facebook late laughter year. so this valuation is something to take note of, back to you. >> thank you, morgan, $10 billion valuation. >> one of the great entrepreneurs of our time is the owner of dallas mavericks, mark cuban. he created cyber dust. he's sitting watching this show right now thinking he's on to something. we should have him on to talk about snapchat but cyber dust. >> best buy posting better tan expected second quarter profits helped by cost cuts. the big box retailer warns it expects consumer electronics to remain weak. traffic at brick and mortar stores continue to decline as consumers choose to research and buy online. surprise, surprise, tim. >> so we sat at the desk and talked about possibly how the apple 6 was going to be good for best buy. we watched the stock go down

i remember hearing about google from kleiner perkins.n the board of exciton there was no google. there was yahoo! and excite and there were all the search engines. the notion that there could be something else entirely to replace what we use google for cannot be discounted given the pace of technological change. that is what google is trying to prevent by going into every conceivable direction to see what people will be doing in the future. it may be something entirely new 15 years from now. from robertation murdoch was interesting because you also have to talk about the losers. when you go from a $10 billion market cap to 400, there is a loser in their. the biggest loser in the last 10 years has been newspapers. if you are to give a statistician the revenue subscriptions from newspapers which have fallen about 2/3 and gave him the revenues of google and did not tell them what they were, he would tell you with a high degree of confidence that those two flows are highly correlated. mediambest thing the old industry ever did including rupe

and another company facing a security breach this time it hit a venture capital firm, kleiner perkinshat famous california firm and detectives out there are investigating the theft may put some valuable financial data at risk. >> that's surprising. you would expect kleiner perkins to -- they're so tech savvy you would think they would be on top of everything on top. >> that is weird. >> all right when we come back, "squawk box" takes flight. airline stocks soaring to record highs riding on low oil prices and strong consumer demand. we'll put the best investing opportunities in the sector up on the board right after this. and then speaking of travel, las vegas welcoming its first new resort in five years. the big bet of one legendary hotel owner still ahead. ♪ ♪ over 1.2 billion eyeballs are on us during the two weeks at wimbledon. true tennis fans want to know what's happening. they don't want to just see what's happening, they want to know and understand why it's happening. anybody can just put data up, but we want to get a reaction, make it far more interactive. we rely on the cloud

kleiner perkins investings 20ds million in snapchat valuing the company at a whopping $10 billion afterestment in snapchat. here's the ceo evan spiegel with us last year. >> we're not making money right now, but fortunate to have a role model in ten cent. huge build in china. we've seen they've been able to

they say kleiner perkins, received up to billions of dollars. airbnb and uber. says the cable has been restored. it said it was experiencing multiple outages nationwide. for the word on the full nature of the problem. u.s. equity futures are pointing to a positive open. it pushed the s&p above 2,000 for the first time higher. overseas if asia, the markets were mixed. we saw japan was hard with 13 points. the hang seng and shanghai was essentially flat. if europe, mixed markets there today. we will see if that continues. you know, flat. calm it flat when it co himself to europe. reports this morning, apple is getting ready to unveil a new ipad boasting a bigger screen. perhaps this event is likely to showcase the iphone. is bicker better? josh lipton with a look at what consumers want from these products. good morning, josh. >> good morning. apple executives have described the company's product pipeline as the best if decades, but they're listening to what consumers want to see in the new iphone. take a look at the top rumors out there right now. first, it's wide