Posts tagged “Social Media”
The new app is similar to Instagram, the photo-sharing app Facebook is in the process of buying for $1 billion. The acquisition, however, has not yet been completed, and Instagram's employees did not work on the photo app.
Morgan Stanley, already taking heat for helping price the IPO, received more scrutiny Tuesday. The company may face regulatory review over claims an analyst shared negative news about Facebook with institutional investors before the IPO, said Richard Ketchum, chairman and CEO of the Financial Industry Regulatory Authority, the industry watchdog.
After one of the most anticipated initial public offerings in history, Facebook's 11 percent drop yesterday prompted investors to fault everything from Morgan Stanley's role as lead underwriter, to the company's greed and the Nasdaq Stock Market.
Facebook's massive IPO fizzled Friday with virtuall no "pop" in its opening sales price of $38. But Scot Wingo, CEO at ChannelAdvisor and an investor, says he made a Facebook play for the long term.
Computer systems used to establish the Facebook opening price were overwhelmed by order cancellations and updates as the "biggest IPO cross in the history of mankind" was occurring, Nasdaq Chief Executive Officer Robert Greifeld says.
A new app - SceneTap - launched this weekend that will scan the faces of patrons in 25 bars across the city to determine their ages and genders. Would-be customers can then check their smartphones for real-time updates on the crowd size, average age and men-to-women mix to decide whether the scene is to their liking.
A new website, SceneTap, uses facial recognition software placed in a bar or other venue to calculate approximate ages as well as gender and to count the number of people inside. An FAQ at the firm's website explains how the technology works.
From its launch 10 years ago, Local Tech Wire as it was known then has offered a daily e-mail blast. Adding a news feed on Twitter brought on more readers. With Facebook, readers have a new channel to follow our news.
Facebook founder and CEO Mark Zuckerberg updated his status to "married" on Saturday. Zuckerberg and 27-year-old Priscilla Chan tied the knot at a small ceremony at his Palo Alto, Calif., home, capping a busy week for the couple.
SEC says it will review what happened at Nasdaq after Facebook's stock offering gets off to a delayed and troubled start.
At least 10 of last year's technology initial public offerings included a special class of shares that give the founders more votes than new shareholders, according to data compiled by Bloomberg.
Why buy shares? "Facebook has 900 million users - half of them use the service every day," says investor and entrepreneur Scot Wingo, whose business follows Facebook closely. "Never in the history of any online product has there been such adoption. When you think of how fast that has happened, relative to other ubiquitous technologies (cars, electricity, tv, computer, phone), they've reached this level in a crazy short time relatively."
Facebook co-founder Eduardo Saverin has renounced his U.S. citizenship, a move expected to save him hundreds of millions of dollars in taxes stemming from the company's impending initial public offering.
In a regulatory filing Tuesday, Facebook upped the price range for its initial stock offering to between $34 and $38 from the original target of $28 to $34. Facebook could raise as much as $12.8 billion.
Valley buying frenzy; Apple's new maps; Apple co-founder wants Facebook shares; Linux creator hits GitHub; LightSquare woes
In the Bulldog blog: A frenzy of buying startups is driving up valuations for emerging companies; Apple is dumping Google Maps, report says; Apple's co-founder will buy Facebook shares regardless of price; Linus Torvalds doesn't care for GitHub - he invented Git; LightSquared nears bankruptcy.
Facebook said last week that growth in advertising sales isn't keeping pace with gains in users, many of them logging on from handheld devices, while some institutional investors have balked at buying Facebook stock, people with knowledge of the matter said. That adds to pressure on company executives to articulate their mobile strategy ahead of the IPO, due this week.