If news bytes by people in the know-how at Facebook Inc. are to be believed, a high-net-worth-navigation app called Waze is likely to be acquired for an astounding $1 billion. Waze is a free-to-use navigation tool for mobile devices and popular in more than 193 countries.
Out of the blue, Facebook Inc. surprised with a significant increase in mobile advertising revenue. The social media giant has started bearing fruits from mobile advertising, making its investors less worried about the future of the company. Indeed, the latest figured showed that Facebook Inc. learned how to make money out of mobile ads.
On the 7th of March, Facebook CEO Mark Zuckerberg introduced a major overhaul of its popular news feed that would enhance visual content by centrally focusing on pictures and videos of close friends. In addition, the facelift is expected to receive the interest of various advertisers luring users to spend more time on the website.
Two of privacy support groups have on the 26th of November insisted on an extraction of planned changes of Facebook Inc. that would enable them to share the information of users with the photo application called Instagram that has been obtained only of late. Planned changes of Facebook will not only loosen some of restrictions for emails within the boundaries of the social network but also eliminate the system of user voting.
Morgan Stanley according to the reports is continuing its efforts to halt the case of securities arbitration that was filed by one of the investors of Facebook Inc. The Facebook arbitration case holds Morgan Stanley and some other parties responsible for losses it had suffered during the initial part of the public offering of the biggest social network.
Facebook COO Sheryl Sandberg along with two other key decision makers at the social-media giant took part in Facebook Inc. share sale amounting to millions of dollars this week following the expiry of the restrictions on insider trading.
Rovio Entertainment, the Angry Birds maker, has released its newest game Bad Piggies and it hopes that it will be a hit! The Bad Piggies game hit the applications store on the 27th of September. For the first time, fans of the Angry Birds may see the softer sight of the evil piggies.
Facebook Inc. director Peter Thiel sold most of his shares of the social-media giant last week. As it was stated in a regulatory filing, he had earned roughly $400 million on selling his stake, bringing his proceeds to approximately $1 billion. Data shows that Facebook director earned $640.1 million in sales during the initial public offering.
Zynga Inc, the social game developer of such hit games as “Farmville” and CityVille”, published its second-quarter earnings. The weak financial results as well as also weak expectations for the rest of the year caused Zynga’s stock prices dropped 41 percent, to $3.18 a share.
Yahoo Inc and Facebook Inc have finally agreed to settle their heated up patent lawsuits and tie up for a licensing and internet advertising partnership according to reports laid out on Friday. The pact has at last settled the accusations that were made for the technology patent infringement that started under the leadership of Scott Thompson, the ex-CEO of Yahoo.
UBS, the Swiss banking giant, informed that it lost $357 million on the Facebook’s catastrophic debut. The bank said it bought more shares than it planned because of NASDAQ’s trading snags. UBS accused NASDQ of a “gross mishandling” of the stock-market listing. It is likely that UBS will take steps to begin legal proceedings to recoup all of its losses. The total sum of $357 million dwarfs the $62 million NASDAQ has in case problems related to Facebook’s deal.
Social networking site Facebook’s shares slid all the way down by 6.2 percent to reach a new record low. The incident took place on Tuesday which happened to be the third straight day of disappointing results for Facebook Inc. which showed a marked decrease in the growth rate of users and gave rise to renewed doubts regarding its capability to maintain its profitable valuation.
Google Inc., Amazon.com Inc., eBay Inc., Facebook Inc. and other big Internet companies are joining forces to start a trade association. The association will be acting as a influential pro-internet lobbying group in the U.S. The group is to launch in September and will be responsible for handling political and regulatory issues as well.
Facebook Inc, the California based world’s largest social networking site rang the bell on NASDAQ on 18th May, 2012. What started off as a simple algorithm in a dorm in Harvard is now publicly listed at $38 per share to raise $18.4 billion.
So what were investors expecting out of this public offering? Will the shares ride high on the wave of retail investor’s optimism? Facebook is valued at $104 billion at the IPO price but is it really worth it?